Wednesday, September 14, 2016

Sept 14 - Pause day

Sold off XIV shortly after open for a nice 3.5% gain and still holding TWLO which has been slightly drifting downward for a week on decreasing volume.  It looks like a good set up but not pleasant being 1/3 underwater on my calls.  MEMP close to a stop out but giving a bit of rope to this one.

I am anticipating a repeat mid May where saw a very similar pattern and a Thurs reversal and Fri follow through.  Tomorrow if we get a more down I will aggressively buy XIV or VXX puts.  Overall, this churn is healthy as it is allowing us to carve out a short term bottom.

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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...