Friday, November 13, 2015

Daily Recap / Look Ahead

Yesterday was a mixed bag for me.  I had a good trade making $1.80 on IWM short, but jumped the move in miners and lost $.87 on DUST in the opening whipsaw.  The signal hit, and I took it.  It happens.

I also entered puts on UVXY for next Friday (28's).  I am holding them still .  My signal is max overbought and historically the mean reversion hits within 3-5 trading days.  I will add to and sell a put on the $26's by the end of the day.

For NADEX took one buy under the double bottom, (EOD 2051 )and stopped myself out at 2053.  I did not reenter another trade.

We had a move outside of the range and then a reversal.  I need to aggressively trade that failure, in this case, go short.

For today, it is likely we have an inside day.  We are still in a downtrend and we have been selling consolidating, selling, etc.  My view is we target 198 on SPY, and will short this next move higher into the 20 moving average (2 hour chart).

Update, if we open above 2040, I see us testing the overnight high, if not looking at the S1, at 2027 area.  I bought EOD 2025 for $81.  Will make additional trades after 10:30 EST.


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