Monday, December 21, 2015

Dec 21 - Buy signal SPY

We have a set up like back in the Greek debt crisis which should trigger after today and be good until end of week.  I am not expecting much in either direction maybe +.5% in SPY.  As stated before, I am seeing signs the market is very wobbly and unless January starts off with a bang, 2016 could be an ugly year.

Making an ugly double bottom here.  See if it holds.  If so, we should see at least a 50% retrace
 Same setup as July.  The bounce might not last long though.
HYG showing weaker selling volume today which is a plus but that is largely due to seasonality.  The negative divergence between equities and bonds is not good.


Doug said...

Hey Mr. Greenlander, saw your post. Fundamentals are worsening and liquidity is disappearing. I'm down to only 13% equities primarily in utilities and REITs.

There may be an attempt to rally back to 2100, but I'll be looking to put on short positions if that happens. When revenues and profits are falling, I have a "No More Longs"

I think January will be brutal to stocks...but is just an opinion. But it seems like we've seen some ugly Januaries in recent years.

Doug said...

Opps, i have a no "no new longs" policy

Greenlander said...


Yeh I agree, this is a more of a short term bounce. I'm very bearish.

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...