Thursday, December 10, 2015

Dec 10 - Equities bounce but for how long?

We got an oversold bounce today and still room for more drift down prior to the FOMC announcement.  I would prefer to see a retest of recent lows to go long but so far we aren't yet there.
GLD continues to go sideways and at some point it is probably coiling for a big move.  I added to my GDX Jan call spreads by adding Mar spreads also.

Bouncing today but easily could see whipsaw and a reverse tomorrow.
 Still not oversold and volume today not strong so not going long here.

I'd like to see a spike up to see the upper BB tested and CCI/ stochs max out.  Not yet there.

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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...