I trimmed back my longs because we are near resistance but I have a weird feeling that too many people are looking to short at this level which could cause us to jump over it. So far, today's tape looks like a lot of trapped bears. For now, will wait towards later in the day to see how we digest this move north of the upper hourly BB. If today looks like it is consolidating intraday I will jump back into longs but with a smaller position.
Today was a very nice pop out of Thurs/ fri consolidation. Today aside, it wasn't a great idea to short into this low volume sideways activity.
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
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...