Thursday, January 28, 2016

Market is on its own until March

This is the second time that a retrace has pulled up short of expectations for me, and I consider that bearish.  We may however stay in the 1850-1910 ES range for a bit as there is a new month and Chinese New Year upon us, but I am looking for rallies to short for now.

I closed the XIV trade for a blended average loss and flipped to VXX, sold IWM flat, and XLE for a profit.  I bought BIS, which is doing nicely, and bought some SPY puts at the announcement which are up.

Still holding GLD and USO long.  I was going to short AAPL, but was already making too many trades on FED day.  I will wait for my next sell signal.  Also, if interested, TSLA is a mess, They are going to have to raise cash in a hostile environment.  This is a car company trading like an internet stock.

Finally, it looks like an overnight ramp attempt is failing.  Watching to see if we continue to fall.

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