Friday, April 15, 2016

Apr 14 - Short SPY...again

Shorting SPY today at 208.25
stop is 209 and target 206, if we get more great but this is mainly a 1:2 risk to reward play

Things that are more favorable than the previous short attempt
-very low volume SPY
-VIX hourly printing a buy signal
-SPY daily is scratching upper BB (so is DIA as well)
-$CPC ratio issued a sell signal for equities yesterday
-sell signal on 2 hr frame SPY (which is more reliable than the hourly)

NYSE issuing RSI sell signal which usually means consolidation/ mild pullback
 1 hr selling signal but has been somewhat unreliable
 2 hr sell signal on CCI which has worked well recently
 First time seeing negative divergence on daily

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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...