Tuesday, September 27, 2016

Sept 27 - Probably only a short lived bounce in equities

So far, a very good day.  GLD short, long LN/ TWLO/ QQQ all working except a small down day in WFC.  I just sold TWLO as there is a good chance it dribbles down today.  If it fills the gap, I will be a buyer again.

Would be surprising and force to chase if it breaks above the trendline today/ tomorrow but betting right now that we will see some settling.
If we tag the lower end of the range, will make a nice re-entry

 so far looks like mini-consolidation

 LN looking great and starting to think about taking some profits soon

 GLD short is working and question is whether it bounces soon or breaks down below this consolidation zone
 If miners break below, will feel more confident about the GLD short
 Going to unload QQQ long position picked up at close yesterday probably at close.  The chart is a mess.

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

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