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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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...