Tuesday, October 4, 2016

Oct 4 - Mixed close, bounce might arrive tomorrow but after that who knows

SPY and NYA fell out of consolidation but QQQ, IWM, DIA are hanging in there.  Tough to say what will happen this month but because of NYA's breakdown from the consolidation zone I am inclined to think we chop downwards towards 210 in SPY but not with a lot of conviction.  For sure, I would be an aggressive buyer if we hit new lows around that area.

No comments:

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...