Friday, September 30, 2016

Sept 30 - More chop in equities

Not unexpectedly we got faked out again with an up day after yesterday's bearish action.  Not sure what to expect here but I would guess a bit more upside on Oct 1 and then a more decisive break in either direction.  Closed LN short for small gain and also 1/2 TWLO calls for a small loss although if we trade flat in TWLO on low volume I may look at buying stock EOD.

Right now, long WFC a pretty solid chunk of Nov/ Dec ITM calls, modest GLD long, small TWTR puts, and small TWLO calls.

Looking for a break in one way or the other

TWLO seems soggy and I was leaning towards a gap and go which didn't have this morning.
 Overshoot and this needs to stabilize quickly.  Lots of positive divergence here which is a plus
 Long GLD and looking for test of upper trendline

No comments: