We got an end of the day reaction and when the short squeeze picked up, my stop for the remaining 1/4 SPY short position was hit and went flat. Added a small position of SSO in a/h in anticipation of a gap fill. If it doesn't start to materialize tomorrow, I will quickly let this one go. I don't like shorting here with the combination of late day ramp up, VIX reversal signal, and SPY/ QQQ/ DIA managing to hang on the lower end of the range. We'll know soon enough tomorrow/ Weds.
Something to think about courtesy of Ryan Detrick https://twitter.com/RyanDetrick
The close saw a violent ramp up. I don't think is a good place to be short.
Back into the lower range and a potential buy signal on the hourly
Monday, January 4, 2016
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