Tuesday, April 19, 2016

Apr 19 - SPY new high

SPY broke above resistance and in new territory.  I had closed the SPY short in the morning yesterday from Apr 15 and took a TVIX short which was also closed this morning.

Currently have a modest size SPY short and looking for a 2 handle pullback with stop at 211 and target 208.

For now market is still strong but we may see some chop/ pullback as seasonality becomes more unfavorable to equities in May

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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...