Thursday, October 8, 2015

Oct 8 - Another bear trap

Still holding small SSO, VXX put spreads and core positions of GS , EWG.  The pain trade continues.  Looks like once again a lot of people went short at resistance and got squeezed.

The 15 min frame made it obvious this was a bad place to short as price was consolidating.

 Third tap of channel and QQQ exploded as the Fed minutes were released.  The morning dip was a trap.

Not much resistance until 204-205 SPY

 Oscillators reset and more room to potentially go.

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