Monday, January 25, 2016

Jan 25 - Long consolidation

So far the low volume looks like consolidation so as of now lining up for a move up tomorrow but there are still multiple possibilities

1.  another day of chop 10%
2.  gap up and resumption of trend 50%
3.  another move down with low volume selling and a gap up on Weds 25%
4.  retest of lows 10%
5.  breaking lows 5%

Because all of these scenarios barring option 5 involve eventual upward movement I have my stop pretty loosely set at slightly below Thurs' close to allow the gap to be filled.  I remain long SPY/ XIV

If we bounce off the bottom trendline again, this would be a good long setup.

From 10 min frame looks like consolidation and hopefully stays that way

A decent amount of upside still left

The buy signal just triggered on daily so expecting some push up before it can weaken.

No comments:

Feb 17 - Large short position now

Very bearish now and looking for a retest of lows in 2-3 weeks.  I have puts in SPY, AAPL, GOOS, and GLD.  Calls in RIG  every major dro...