Monday, January 9, 2017

Jan 9 - Sold 2/3 China, still holding XBI, NTNX, VXX puts, and long term position of CMG

Decided to play it safe and pull some really nice profits off the table.  I had an array of Feb/ Mar calls on China stocks and made an average of 100% on them.  My targets haven't been reached but seems so overbought on a short term frame I'm thinking at least 50% chance we pull back or chop here then back up.  If we get a sharp dip, I will be an aggressive buyer.

SPY looks like it's gonna dip or chop w negative divergence.  I don't have much interest here.

VIX at bottom of range

XBI made a great move.  Let's see if things continue

BABA not at the target but the 2 hr frame looks really cooked
 If we pull back in BABA to yellow zone, I will buy buy buy

BIDU if it hits the zone, more buying by me
 CTRP which I have a small position which has been untouched.  The chart of the 4 I had looks the best.
 CTRP still a bit aways from the target
 SOHU also very overbought but could go much higher this leg but I'm looking for a pullback
 Close to target but not quite there.  I'm betting that it needs a pullback to launch higher after the 3rd consecutive close north of the upper BB

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