Last Update: 12.11.13
12.09.12 “$SPY Bull Run“
11.14.13 “My Longs on $SPY (Buy High Sell Higher)“
10.11.13 “I am Long on $SPY“
[Open] Entered Calls @ $180.55
We have been watching 20EMA for sometime because it has been acting as strong support back on 11/8 so I wanted to give benefit of the doubt (until I get a full confirmation of break lower) that we may get a bounce there and today that’s exactly what we got after positive job data this morning. Here are few facts
- 20EMA continue to hold as strong support
- Higher lows and higher highs are still in tact thus this uptrend is still alive
- Gap from this morning is still open which could be categorized as “Breakaway Gap” (if market continues without filling it)
I think we have good possibility making new highs sometime next week.
[Morning] Closed Positions @ $179.89
@ 9:28am CST
I had been holding ITM January calls since $180.55 and this morning, when it cracked below 10EMA, I’ve decided to close my calls at around $179.89 with small loss. I guess I am glad to close it out earlier this morning as it has been tanking all day. I don’t have plan to re-enter long positions on $SPY unless we make new highs.