Profits From Our VXX Calls SYMC J-Hook Setting Up

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Profits From Our VXX Calls

Yesterday we captured profits from our VXX Calls to the bank based on our target plan. Another new low for the SPY yesterday and nearly closing the gap we talked about in the trading room. Closing the VXX calls was based on the probability of a bounce headed our way. The SPY weekly chart is still on the fence with a Blue Ice Failure, but I an not ready to discount the Daily Inverted Head and Shoulders Pattern on the daily chart. It will be important the buyers circle the wagons for a good run before years end. Please note there is still a possibility of a near test of the October lows.

SYMC J-Hook Setting Up

SYMC is setting up a J-Hook continuation trade now that it has seen profit taking the last few days. The price action of the last couple of days shows the buyers are attracted too or rather above the $21.60 line. A bullish breakout of the 200-SMA could potentially push price 14% or higher. We did add to our SYMC position yesterday. I will be adding SYMC to the LTA-Live Trading Alerts Real Time Market Scanner watchlist for a buying alert. SYMC bullish above $22.85, stop below $21.60

****VXX – The VXX came into our swing target area, and we took our profits based on us on the plan.

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