1:02 pm PST. Nice day for the U.S. indices. Here’s my short-term wave count for SPY. I think we have wave v left tomorrow at the open up into the upper trendline in the chart I posted previously, at which point I plan to exit my VXX puts.

I chickened out of some GDX lottery tickets expiring tomorrow. They were just in the money, but then GDX rallied up into the close and I just could not hold onto them. Now they will probably tank. Next time. I am still bearish on GLD and have some longer-term positions on that can withstand some short-term price movements. With the time decay on options, one has to have near impeccable timing on those that expire tomorrow. I might day trade it tomorrow if I see an opportunity.