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.
Tuesday, April 5, 2016
Apr 5 - Equities weak but not conclusively leading towards more short term downside
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...
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...