not a bad call to buy dip last Thursday

switched to bearish view based on eod data 1/7/14, not bad.

there seems more room to go south. continue to hold shorts.

updated intraday chart.

 

updated chart. I feel that this is a market rebound on the way down.

 

updated chart.

 

Updated chart as of EOD today. No new signal during past week. Still holding my shorts. The red indicator looks volatile, which is typical during correction periods, and appears to have more room to go.

 

updated intraday chart.

Look at how the red indicator is soaring! Still holding shorts.

 

updated chart as of eod yesterday. red indicator still pretty high. continue to hold shorts.

 

red indicator dropped a great deal after market open, switched to long side. will post updated chart later.

 

Seems to me the market is making a base, and can be volatile during this phase.

 

The red indicator dipped 4 times below 20 during this correction, which meant I bought 4 batches of SPY calls. The first two batches almost broke even. The last two batches are showing nice profits. This is despite the drop in volatility compared with when I bought those calls. Overall a nice trade. But have to say the past few days made me nervous. Will hold over weekend and let them run. And since the red indicator has dropped nicely, as it typically does during an uptrend, it is now time to watch the blue indicator.

 

All my long calls are showing nice profits. Even though the signals were not given at the exact bottom, they were in a range that was low enough to have a favorable risk reward profile. Continue to hold longs, it appears this uptrend has legs.