Friday, June 10, 2016

Jun 10 - Potential trend change

I unloaded my longs right after open even though there is a decent chance of some gap fill as it surpassed far below my stop.  Some short term trendlines have broken so moving into a neutral stance here.  There is potential for a bounce in late afternoon or early next week so I plan on sitting tight for now.  Things could continue moving down or we get a strong upside reaction.  I don't see an edge in the very short term.  The only play I would be looking at is if we retest highs or get close, I may look at going short.

The ideal play was to ride the market up until OPEX then short the week after, but not sure if that will play out cleanly as I would have hoped.




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