Tuesday, January 19, 2016

Jan 18 - Soggy open

I exited IWM long pre for the following reasons.

VIX started to jump
Futures started nosediving and
oil start selling off once again.

Then entered SPY short looking for gap fill.  I still think this gap up is constructive for setting up a base but not interested in getting aggressive until I see selling weaken.  For now, just going to play small ball and fade the gaps and will let the market make up its mind for the intermediate term as we might be looking at a lot of churn this week.  If at end of day we see a lower volume day I may go long again but will wait and see.

1000am update:  trailing stop hit in SPY short for very small gain



No comments: