Tuesday, March 15, 2016

Mar 15 - Getting close to short entry in equities

Took a small long in anticipation of a pop tomorrow based on the low selling volume and 2 consecutive reversal candles in SPY.  These positions will be definitely closed by EOD tomorrow as a lot of the indicators are looking maxed out or close to it.

I also grudgingly decided to close the GLD/ GDX short bc of Fed risk tomorrow.  If things look right I may re-enter the short as the negative divergence hasn't been worked off yet.

Expecting a gap up tomorrow

If and when VIX hits the orange box, I will start equities shorts
 The 60 min got oversold and GDX bounced. Whether it gets beyond the trendline or just a backtest is to be seen.  FOMC will surely generate volatility here.
 Still a ways to go but we might get a spike back up.  If we get close to the top of the range, I will probably re-short GLD.

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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...