I warned a couple of weeks ago that danger is lurking on the SPY http://arum-geld-gold.blogspot.com/2012/01/danger-will-robinson.html, and was surprised and amazed at the strength SPY continued to show. Fortunately I was long energy and miners, and my SPY puts and SDS were stopped out, so still was profitable for me. Since then, miners sold off, Metals sold off, and VIX roared to life, and a breach and failure of the upper trend-line occurred. I am now selling SPY with March Condors, and am long UVXY from last week.
I foresee a test of the lower line, a run to the highs again, then splat. But will take it one trade at a time. Right now my trading signal told me if long SPY sell it, but there is no sell signal given, hence the spreads. I will post a sell or re-buy signal and the trade I will take once it occurs. I will post it on Twitter, my handle is on the top right of this page.
What are you thinking?
No comments:
Post a Comment