Tuesday, November 3, 2015

Nov 3 - took profits IWM but still looking long

IWM is jammed above its upper bollinger and thought it might be best to take profits especially with VIX up for the day.  I'm looking for consolidation/ slight pullback below the upper band to re-enter.  Still holding SPY 211/212 call spreads into Nov 20 expiry


Doug said...

Here's a great free website for trading: https://likesmoneycycletrading.wordpress.com

Also, I'm wondering if we're going to have a blow-off top like 1999 (along with similar overvaluations)?

Greenlander said...

Thanks Doug, I actually look at that blog regularly. Valuations are very high now historically I agree and will also be watching margin debt suddenly decreasing. that will be a major sign for me to switch to a bearish stance

May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...