Friday, June 17, 2016

Jun 17 - Not much of a bounce, looking for a little bit more downside next week

Quickly closed QQQ long and switched to SPY short on open but smaller than the previous short position I carried this week as VIX is still elevated and this isn't the safer place to short.  But doesn't look like Thurs was the bottom so far.

Still respecting the trendline and am guessing more churn is needed to carve out a bottom.

Some air below, perhaps 202-203 is in the cards

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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...