Tuesday, January 19, 2016

Jan 19 - Another weak day

Amazing how we have these divergences but they don't get follow through.  I really thought today would have been more productive for longs.  Took some SPY ITM puts expiring end of this week at close in case we get a big move down below support.  I am leaning towards a gap down.  I really don't know what will happen intermediate term as we don't seem to be getting the capitulation needed to set a floor.

Printed a reversal candle with weak volume so today could be seen as a weak bounce/ consolidation within the ongoing trend.

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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...