Monday, December 28, 2015

Dec 28 - Light sell off for equities, precious metals whacked once again

Equities had a low volume melt up after a gap down and poised to bounce tomorrow based on the reversal candle printed in VIX and SPY.  Gold flopping around and I added GDX for a quick bounce based on the hourly.  USO not surprisingly flopped after its promising action last week.  I quickly unloaded in pre my USO position and am standing aside until a better setup.

Buy signal on hourly

GLD basing looks promising but unclear when it will move
 PMOBUYALL still in bullish mode, so probably not the greatest time to go short even though longs seem tenuous
 Sell signal burned off quickly which is bullish
 Reversal candle on low volume bodes well for longs
 Crash!  USO can't hold up.
 Buy signal failed
 VIX hourly printing sell
 But VIX daily candle printing sell but potential buy on stochs.  Given the seasonality not expecting a full blown confirmation until next yr

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Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...