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'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...
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...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...