Wednesday, January 6, 2016

Jan 6 - Equities barely hangin' on

Today was a strange day.  VIX dropped from the open a decent amount despite equities barely making an intraday comeback.  Either the market is overly complacent or a short squeeze is lurking around the corner.  That aside, we closed below consolidation which opens the door to a big decline.

I went back and forth a lot at end of day deciding whether to go short.  The low volume settle in the lower BB is threatening short squeeze but we have slipped below major support.  I only have a core short position that I will let bounce if it happens as the retest of lows targets gives me at least 1:3 risk to reward

Levels of resistance which should be strong
 DIA has entered the no man's land where it could drop fast unless we get a bounce soon
 QQQ the same scenario
 I hate gold.  I took two stabs at this and gave up on it last week and now it is finally taking off.  I keep trimming down my position size and widen stops to allow the position to mature but my impatience got the best of me.

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Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...