Thursday, February 11, 2016

Feb 11 - Long SPY/ XIV

Will wait for tomorrow to see if we get confirmation to add to position but we 'may' be building a short term bottom here.  If we don't move up tomorrow, I will exit quickly.  If buying looking strong I will add longs.

If we are indeed basing and looking for an intermediate term bottom, we should see buying to be obvious in next 1-3 days.  Like rocket blasting off obvious with a large daily candle, not just a big gap up.  If not, we probably don't have a floor.

VIX in the first resistance zone and printing a reversal candle.  The only drawback is oscillators aren't maxed out which does give me some pause.

$VXO looks more promising as a reversal set up

SPY potentially bottoming but needs confirmation
 Nice set up with positive divergence in past week plus double bottom.  Almost looks too good to be true but I have taken a stab.
 This set up in $NYA looks almost too easy which makes me somewhat suspicious that we will fall through support.

No comments:

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...