Thursday, December 3, 2015

Dec 3 - Equities getting walloped, metals moving up

I have to say, I am surprised seeing the USD crash today.  It did have a weak bearish wedge pattern but I didn't anticipate this.  We are seeing a move up in commodities but not as big as I would have thought.

I hopped into a Jan GDX call spread 15/16 a couple days ago and will hold through turbulence.  Hopefully things gain traction unlike when the previous buy signal failed a couple weeks ago.

Potential double bottom with pretty good positive divergence here.

We may be setting up for a bear trap here but there's still risk of gold slipping down to $1000

Buy signal on weekly

HYG showing pretty bad negative divergence although this isn't the best of indicators.

SPY looking likely to get close to support
 USO might be setting up for a bounce here like metals

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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...