10:00 a.m covered another 10% of spy short and JPM short. Looking to add some shorts higher (~840?)
12.00 noon Picked up a sliver of SPY short at 84.25. Will add some more as the move goes higher.
3.00 p.m. The market is really strong. More green volume than yesterday. If the market closes above 850 (the underside of the wedge), we will close our SPY shorts for a loss.
3:15 p.m The key is to watch the hourly charts, the 20MA and the 50MA are in a necktie and acting as resistance. If that gives way, we are going to have another run at the high. This also coincides with the wedge underside. So all in all, it is a key resistance area. For bears this should not be broken.
3:20 P.M Added another sliver of SPY short at 85. Now will wait and observe the action, if the market closes above the hourly 20x50 MA necktie, we will take a loss on our SPY short until the picture becomes clearer.
4:10 P.M SPY could not break the necktie. The volume today was lesser than yesterday. Underside of the wedge was not breached. Thus, the bears must still be the favorites. We will swing our shorts.
12.00 noon Picked up a sliver of SPY short at 84.25. Will add some more as the move goes higher.
3.00 p.m. The market is really strong. More green volume than yesterday. If the market closes above 850 (the underside of the wedge), we will close our SPY shorts for a loss.
3:15 p.m The key is to watch the hourly charts, the 20MA and the 50MA are in a necktie and acting as resistance. If that gives way, we are going to have another run at the high. This also coincides with the wedge underside. So all in all, it is a key resistance area. For bears this should not be broken.
3:20 P.M Added another sliver of SPY short at 85. Now will wait and observe the action, if the market closes above the hourly 20x50 MA necktie, we will take a loss on our SPY short until the picture becomes clearer.
4:10 P.M SPY could not break the necktie. The volume today was lesser than yesterday. Underside of the wedge was not breached. Thus, the bears must still be the favorites. We will swing our shorts.
3 comments:
Bought SH at $72.95, small position. Thanks for sharing info.
-- sastocks
No problem. Lets hope the market sells off later this week and we make some money.
Thanks. Bought SRS after hours at $27.04. Will close the position when i close SH. 50% cash, 38% Long equities, 12%(SRS, SH, FAZ, FXP)
-- sastocks
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