Saturday, February 18, 2017

Feb 18 - Long LVS, LN and short GDX

Once again got stopped out of a quick short attempt and probably will pass on shorting and just wait for consolidation/ pullback to go aggressively long into April.   The indexes are insanely strong.

The gaming ETF is consolidating and a solid and sustained move for the rest of the year is lining up
 Took on another short in precious metals.  This time against GDX via a load of ITM Jun puts.  I am looking for 18-20.  It looks like it is making a bull flag but under the hood on smaller time frames it has looked weak and even if it moves up, I think it will run out of gas soon

On the weekly close to the upper BB and being topped out on the stochs.
 LVS looks very interesting and I got Jun calls half in the money

 I don't know what else to say.  From a technical standpoint this is falling within the once every 5-10 years event.  Extremely overbought but the dips are so aggressively bought up I have given up on shorting and will stick to existing positions.  I am eyeing a longer term energy long but XOP/ XLE aren't quite there yet

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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...