Tuesday, March 1, 2016

Mar 1 - It was probably a bear trap

My SPY longs looking pretty good here and looks like we might have another 1-2 cycles at minimum of where the bears get roped in only to get squeezed left in this up cycle.

We are clearing resistance and if things hold SPY could get to 200 fairly soon.

We are above resistance and heading into a low volume pocket which should allow MM's to jam this higher.

Hourly getting overbought and will monitor this

 Bear assets still haven't dropped a huge amount so probably need more bears to throw in the towel before we go down
Risk on for sure.  HYG blasted higher yesterday despite the sell off and is leading equities

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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...