Sunday, October 30, 2016

Oct 30 - Equities on standby

I have to admit I am not trying to get caught up in all this Clinton email noise but for sure the market looks soggy.  High beta is getting whacked and I am leaning towards some kind of small/ mid sized flushout to start the Q4 rally.  Perhaps all it will take is a Clinton win and we are off the races.

I lightened up my longs a lot this week and only have the Dec VXX puts, HMSY, and BIDU.  In general was a very disappointing week as I had profits on most of my positions but didn't act quickly enough.  AT close I put on XLF puts for a short term play.  I am looking to add biotech at some point but not now.  Also would like to add WFC again but want a pullback.

In all, my positioning is more of wait and see mode.

Negative divergence on daily

And if we sell off I will look to cover when stochs/ RSI bottom out.

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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...