Thursday, January 14, 2016

Jan 14 - Another reason to be cautious - $NYSE advancing/ declining volume ratio

While I still think that we started a short term bottom formation, some things are lacking like VIX's strength and the up/ down ratio in $NYA.  Had the close been strong (I would've held longs overnight), I think the ratio would have been more acceptable.  These aren't deal killers but something to note.  The ratio should be higher than it was today.  We could have a bit more downside before the market creates a short term bottom.
I remain short term cautiously bullish and long term bearish.  Chances are it might be a good time to step aside and let the market do its thing as it might get very choppy.

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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...