Tuesday, July 12, 2016

July 12- Took small SPY short but still extremely bullish long term

Triggered from RSI signal.  The strength of this up move has been big so didn't bet aggressively here.  Next week is also seasonally very weak so increases the chance of a pullback.  VIX also printed a positive day so we might see some chop or pullback.  Or maybe the technicals short term don't matter and we keep blasting off!

I reluctantly closed 1/2 of the SLV/ GLD shorts at close.  Am a bit wary what might happen if equities reverse.


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