Friday, March 4, 2016

Mar 4 - 204 SPY getting closer

Looks like the pain trade is up. Still long and wanting to see SPY close +.50% or up.  Otherwise we might be in for a short term pullback.  Still, no real negative divergences and volume has been strong today.

Very bullish set up for QQQ.  2-3% isn't infeasible here if the close is decent
 Overshoot over rising trendline
 2 hr charts looks strong.  I don't know when will happen next but plan on riding longs until some divergences start to appear.

 VIX grinding down and probably will floor fairly soon but equities can continue to grind up for a short period after.  Last time they went up for 2 weeks.

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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...