Thursday, March 3, 2016

Mar 3 - Back into SPY longs this morning

I am having a hard time wrapping my head around the lack of divergences.  Only thing that looks negative is SPY weak volume.  Junk bonds, treasuries, etc not showing weakness and if so look like consolidation.  Equities price action looks really bullish.  I don't see any divergences.

Pain trade could be up as people sell longs at 200 + some will heavily short this level.  This would only add more upside fuel.

Starting to think that 204 SPY is at least 50% chance of happening.

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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...