Friday, June 24, 2016

Jun 24 - Bull trap from hell

I got some back by going long XIV pre market on the partial gap fill but didn't come close to recovering the solid losses on the Brexit move.  I am currently flat.  The boat was way too loaded to the long side (myself too bullish before a major risk event) and it toppled over in a big way.  I could easily see the gap being filled but if it does we have a good chance of retesting today's lows and more because of 'hangovers' associated with such a violent move.  Equities, currencies, commodities are all going nuts today.

Just a thought.  for now, appears to be more downside than upside potential.

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July 11 - GLD sucks

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