Wednesday, February 17, 2016

Feb 17 - Still rocketing higher

Another impressive day.  We are at 3 up unfilled consecutive gaps.  I can't remember the last time I saw this.  I quickly unloaded my small SPY short pre per system rules even though now it seems even more likely some pullback is coming.  But today's gap up only strengthens the intermediate term time frame which makes me think that 195 is high probability and 198 not unreasonable at all.  Problem is trying to find a seat on this long side train.  If we pull back 1/3 to 188, I will take it.

No comments:

Feb 27 - $shak primed for a big move

Still holding $RIG Mar2 and Mar16 calls which are up 100-200%.  $shak settling nicely and I have plenty of time with Jun 45 calls