1. Sold small part of SLV position at a slight loss; just freeing up some capital for possible lower prices.
2. Bought GS June Puts at EOD (small position) at around $164. I expect GS to open high tomorrow, after good earnings, and GS to go up to 170 tomorrow. Didn't remember that earnings were tomorrow when I bought. Oh well. It doesn't change my basic scenario of further weakness ahead.
3. Sold earlier AAPL calls for $0.40. Bought AAPL calls at 244 or so. Will sell on Tuesday.
Thoughts
Correction is not over, even if tomorrow opens bullish. I will use any strength on Tuesday to sell a little more of my long SLV position, so I can reload at lower prices.
Gold will rise to 1145, IYR to 50.9, GS to 168 and AAPL to 250 before further correction on Wednesday.
No comments:
Post a Comment