Wednesday, January 13, 2016

Jan 13 - Renewed weakness in equities, are we moving lower again?

My longs got stopped out in the morning after the gap failed to hold.  Possible we bounce up but I had a tight leash on this and was expecting a move up definitively today, instead more dribble downwards.

We might be consolidating for another leg down.

Nothing but air below in SPY

The short time frames look wobbly.  No follow through today.

Now out of the lower BB and room to fall.

VIX not strong but not going away
 The second move up scenario for $VXO still in play

No comments:

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...