2. Then basis July 21 Close of KCU 15730, I posted "Time to Call off the Dogs?". That Bullish post was useful for 870 quick points North thru Friday close of 16600.
3. Now what? The Indicators are returning to the Sell side. They are not violent (yet), but they are ALIGNED and definitely prefer sell side ufn--
Weather--Benign thru Aug 10.
Spread Di--If Friday's Close is to be trusted, respected, then pretty bad, definitely negative.
Cross Di--Soft, Negative.
Call Di--Negative. Using our previous Benchmark 200 Calls, while KCU GAINED 220 pts. from 19th thru 23rd, KCU 200 Calls LOST 14 points, from 47 to 33. And given we still have three weeks until OE, we can hardly blame much of that on Sister Theta. This is loud & clear Negative Di.
4. Positions & Intentions. I have continued to gently scale sell Calls into all rallies, am now medium short 210C/200C/190C and babyshort 180C. Also modest 145 Put shorts. If given non-erasure by the above four INDEPENDENT Indicators, will continue selling further Calls on rallies.
JMO,
Barefoot