Daily Reflection: 06.15

15 Jun

Today we saw a close above the 20 Period Moving Average across the top line figures. This is something we have not seen since early May. We are bullish for the time being, however do see shorts setting up in the near future. Looking deeper into the leading industry groups we see things like Paper and Tires, rather than Banks and Biotech’s, thus are labeling this as a dead cat bounce until we break $1148 on the S&P.
Since GLD broke to the upside we dumped the put portion of the position, dumped our FXE puts at the open and added an ERTS short at the close. We continue to hold WLP and SNDK as well as a handful of the other names talked about in the weekly watchlist.

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