Tuesday, March 8, 2016

Mar 8 - Potential consolidation for another and maybe final leg up

Got stopped out of my SPY long entry from yesterday and re-entered on the 30 min signal.  Looking back, I made the wrong play and should've closed out the position EOD and waited for a better signal rather than booking a 1.5 handle loss.  Regardless, I am seeing signs of toppiness in junk bonds and Treasury yields so this is probably the last bullish move I will try and capture.  Also seeing increased bullish sentiment across the internet so that isn't a good thing.

Edit: Going to pull longs by EOD latest

QQQ setting up well
 SPY also issuing 30 min buy signal on stochs/ CCI and trendline

No comments:

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...