Thursday, February 16, 2017

Feb 16 - Still waiting to re-short

I caught a little on the short side but the late day ramp ate up most profit and once again closed them out.  I exited GLD/ GDX also as I wasn't impressed by the move considering how much the dollar sold off.  Most of the things I am looking at just don't look interesting, either super overbought but not ready to short (I was too early this week and underestimated the strength of the rally) or not overbought and floating above a buy point which would mean I need to wait.

Are going to have a big correction?  I don't know but I am leaning towards something btw 2-4% max and a very slow consolidation.  Need to see more weakness in the short time frames to short but we might be close.

Things I am eyeing on a pullback are XLE, XOP, CMG, WYNN, GRMN.  Might not be feasible until March.

If GLD/ GDX struggles to go up 1-2% more, I will be interested in shorting them again.

1 comment:

Michel Vion said...

Without using practically that’s very difficult to rate at any kinds of platforms, because there are almost thousands brokers are available in online retail market and most of them are found to be scams. But I can promote only LQDFX which for all time make sure superior execution, easy withdrawal system without long time process, active customer services; lo transaction cost, minimum margin requirements and much more real trading facilities that are very supportive to lead a comfortable trading life with certainly.

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

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...