Wednesday, February 17, 2016

Feb 17 - 200 SPY here we come

Still expecting a slight pullback (thought we would get one today) tomorrow and/ or Friday then back up.  Very short term I am neutral/ bearish but very bullish intermediate term.  Buying pressure is extremely strong.  200 level in SPY is a pretty feasible target now in the upcoming month.

Looking to go long on retrace to bottom of opening gap (if we get there).

Potential final target of 203 in SPY based on RSI 50 cross of previous major bottoms

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Mar 17 - Long $QQQ

Got into decent size position of $QQQ 175 calls @ .22 expiring Fri and smaller $amzn and $nflx.  Still in $shak and sold off $rig for only 5...