Thursday, February 25, 2016

Feb 25 - Bears continue to get squeezed

Low volume grind up and exits longs EOD looking to re-enter on consolidation/ pullback.  Still looking at 198-200 in SPY at target.

Low volume at bottom of range has generally meant some breathers the next day or two

Broke above resistance

Bear assets declined for second day so perhaps some are switching to long side now but looks like a while to go until things turn back around

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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