Monday, January 4, 2016

Jan 4 - Stick save at the close - closed remaining 1/4 SPY short

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

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
 Buy signal on 2 hour frame, also not a good place to short.  Better to wait for a gap fill here.
 Betting against black reversal candles in $VIX/ $VXO near the upper BB not a great idea

1 comment:

jim said...

Thanks for the comments and Ryan Detrick chart
Appreciate it very much

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...