Friday, July 15, 2016

July 15 - Pause before more upside

I took on QQQ longs yesterday and exited my LABD long this morning.  I am becoming doubtful we get a major pullback to say 210 in SPY and even if we do, it will get bought up very quickly.  I think there is a good chance we see 116 in QQQ and 225 SPY within the next couple months.

When we pullback, I am leaning towards seeing something like in the yellow boxes than a swing trade short.
 VIX amazingly is moving down this morning despite equities selling off.  It is below support.  Telling sign that some want higher prices.

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Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...