Tuesday, April 5, 2016

Apr 5 - Equities weak but not conclusively leading towards more short term downside

We might fall more but I am staying out of equities as the signals were not strong enough in either direction.
For sure, damage was done today by the trendline breaks in RSI in the SPY daily.  We get another day with selling significantly higher than 100MM volume, I will be firmly in the bear camp.  So still waiting to put on that larger short position.

Underlying indicators such as HYG (junk bonds) and $TNX (treasury yields) are negative though.

Still hanging onto an underwater NUGT short and will give it another day.

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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...