Yesterday was an epic stop run on both sides long and short. Now we are getting the move I was expecting albeit a day late. I had gone short late morning yesterday thinking that it was a failed consolidation period and then realized it was a trap and I quickly covered before the ramp fully materialized.
I am flat and hoping for some more upside prior to FOMC. If SPY can get to its upper BB on the daily around 203-204 and VIX taps its lower band that would make a great short entry.
You can see how shorts were trapped this morning.
North of the upper BB but still not a good idea to short with the gap up
Friday, March 11, 2016
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...
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...