Saturday, February 6, 2016

Feb 6 - Friday re-confirmed SPY/ QQQ daily sell signal

Friday's action was decisive and both SPY/ QQQ posted additional movement in addition to stoch crossovers by dipping below trendlines.  We also saw a PMOBUYALL sell signal which although lagged a few days typically has been a pretty good indicator of short term trend changes.  It is hard to say whether this will be a fast or choppy decline but we will see pretty soon and SPY volume should give us some clues.  If I were to guess it won't be dissimilar to the choppiness of the Sept decline but as I am short for at least a 1-2 week window I will let my position bounce as need be.

SPY finally broke under the trendline that it has been weakly hanging onto.
 QQQ didn't even hit overbought territory on CCI/ stochs which could be construed as very bearish.

The red blip in the previous uptrend creates the down signal

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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...