Tuesday, May 3, 2016

May 3 - Equities still dropping

I trimmed back my GLD positions as I was seeing price go against tailwinds like weaker dollar and equities tanking.  Looking to reload at some point as I am still long term bullish but a pullback might be around the corner.

SPY getting close to support on hourly and daily.  Maybe a 1-3 more points.

Yellow bar is a possible bounce zone.

I would look to temporarily close shorts at the lower BB

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Jun 12 - Sold $GOOG, $AMZN, $MARK, $IGT calls expiring this week, added July $GPS, $AAPL puts and $GLD calls

Lightening up today and yesterday a lot and have some of the holdings as puts. $FDX getting closer to retesting highs. $SPY close to 2...