Posted Monday:

Now this is the way it looks today:

Now I’m short via my index 2x funds $NDX, $SPX, $RUT, SSO Dec 34 puts, TZA Jan 15 calls, TZA Dec 14 calls, and long TZA as well. I’ll be getting some FAZ, DRV, and various other inverse funds. If topside resistance breaks I’ll look to cover, but I don’t see it happening.

Louise Yamada on Fast Money mentioned several divergences on different indicators and talked about the market looking to correct underneath the surface. I don’t look at anything she looks at, yet we are both seeing technical deterioration underneath the surface.

I’m long MCO DEC 23 puts and Jan 22.5 puts

25% gain in BCRX calls. Unfortunately for me I executed the trade poorly this morning in BCRX. Some would say, hey you caught the trade the day before and made money that is all that matters. Not to me. I’m looking to get better.

So that is what I did. The market flipped and all those positions would have been shit by eod, however, they were all gains. C dropped below 4, the RUT finished DOWN -2.6% 2x, and NDX and SPX closed flat, which would have crushed TNA and SSO.

Only thing I did was buy BCRX Dec 10 calls at the close based on this:

Lets take a look at two earnings plays today:
WFMI

CSCO

My SPX Scenario:

Today also supported the charts I’ve been posted about the range made in the SPX. Here they are:

I held long today in my index funds and some positions. However, I did sell out of all my option positions. Some losers, most winners. I did execute poorly today despite turning around a losing day.

Started out down and as I bought more and more calls in the morning, my account was down naturally.

This is when the market started to come back positive.

I sold out of the call positions when we ramped up and had another minor sold off. I was correct for a few hours, but capital was depleted and couldn’t reload at the lows. I should not have sold these calls despite turning a losing day into a winner. The signals were primed, I just got scared and wanted to lower my risk/exposure. Thankfully I didn’t screw up everything and kept my larger money long and I still have TNA, SSO, C, C calls, FEED, GMR. X calls got sold I think for 8% gain, MON calls from yesterday were sold for a loss and rightfully so, the chart turned, but the sector is heating up and MON is oversold. There could be something brewing still with that stock.

These are trading mistakes that I am constantly trying to improve upon.

This actually closed overbought on the 60min, I’m now interested in getting out after seeing this (not displayed in the chart). I will look to get out, but you can see why I bought in. Small positions in this.

Just for fun, I didn’t catch this and have no position:

If you want your favorite symbol read let me know. Post coming up analyzing some other stocks.

So far anything I’m in has turned to green, so we either close up, or this could just be setting up for tomorrow and having a stealth close.

Positions: Sold X calls for 6% (I got scared, nothing changed, probably will be up much more), TNA calls Dec 36, Nov 37; SSO Nov 33, Nov 34; SSO, TNA

I posted this same chart on Friday. SPX made a range and if we closed above that range I was getting long. Well today we tested below and closed above. This is a very short term bullish scenario imo. With this information I went long $SPX, $RUT, $NDX in the index funds, MON Nov 70 calls, SSO, SSO Nov 34, and X dec 35 calls.

My mistakes today were the X calls – really though it was a mixture of Ameritrade’s and my own mistake because once the profit disappeared I went to watch some TV. I was looking at the daily chart on X as the main reason to be long X and when we broke I had to protect. It was a crazy day I think for everyone except people who specialize in scalping. The second mistake was buying SRS calls. I thought we were cracking down and I was looking at this setup for SRS:

It didn’t work out. However, I want to buy SRS or other inverse real estate etf’s on up moves in the market this week.

Winners today:
JEC puts, RYL puts, AIG puts. All sold all winners.

Even though these 3 were winners, they all recovered to form some version of reversal candlestick patterns.

I will sell any of these longs if profitable. I want to get short on an upmove in the market as long as the market does roll past those top side resistance numbers I mentioned. This could be what the market is in for.

If you want me to look at any symbols with my indicators just ask and I’ll post em.

Remember this chart? Breaking the purple crayon

A SAMPLING of today’s charts of symbols. If you want to see another symbol under my indicators I’ll post the chart.

Instead of recap of today, I’m in 99% cash and bought X Dec 35 calls for a play into next week. Fast Money Tim Seymour is interested in steel stocks as well.

The RUT gained 4.9%, SPX 4.5%, and then doubled up this position at 10:45 and further tacked on gains there.

My BAC calls I sold for gains, but executed poorly. There was no reason to sell, I went to get a cavity filling replaced and just didn’t want the exposure on the table.

My FSLR options got squashed today for -94%. I char.ly’d the chart of where I went wrong. What happened is that I saw the FSLR chart setting up all day and I wanted to take a chance. My 60min chart was green and I must have bought them sometime around 3:45 and never looked at the chart again. What happened was that the chart went to a sell right before the close. You will see why this matters with the LVS chart.

Also without recapping the trade, GNK calls were sold for an overnight gain of 40% and 52%. I also took a daytrade in some WFT calls that were stopped out for a loss of 21%.

I purchased WMT Dec 50 calls today. Up 7% and 9% with diff buys.

LVS – I tweeted: “I’m going to take a shot at some $LVS, daily chart says to. My earnings plays have been shite though. Well $GNK was a star actually.” Well you can see that the chart below shows the red part. That is where I bought the NOV 16 calls. Then I tweeted: “I remained long 100% the 2x index longs, will cover in the morning. $LVS rolled back to a buy on my chart thnkflly. Will post chart later.”

*I’ll add the daily LVS chart later as its on my desktop.

I put together a couple of charts to show a pattern that happened today on the SPX. Due to this and other reasons, I went long BAC via calls, bought some GNK calls, and got caught by attempting another earnings play – FSLR, which I’ll eat my loss happily on them. I also put on a half or medium position in the 2x indexes – SPX and RUT 2x funds.

This is today’s pattern:

Today I sold out of my Rydex shorts, and sold off alot of my puts and calls. My twitter account covers some intraday trades I made today.

I still hold FAZ Dec 20 (but sold position in other account) up 39%, SRS dec 10 calls, SKF dec 27 calls, SRS dec 12 calls (bought late today).

I also sold TZA in one account, but held it in another account.

I’m expecting a potential bounce, so further selling tomorrow, I will sell more into that move. If we rally….I will short with impunity.

The market has reacted poorly to earnings releases, has crushed bullish patterns, and in general just flat profit taking. Couple this with the dollar making its moves to the upside and causing a short squeeze in different currency pairs is bad for commodities and has crushed particularly bullish patterns that were developing in the ag space. POT, DE, DBA, BG, and more.

I’m thinking about two scenarios we either bounce here and the chart will show why I think that, or the bounce “psychology” that has trained people throughout this move to buy the market at certain points will get snapped in half.

The Snapper:

Today was a wild day for my accounts. I made one mistake today by selling my EWZ puts on the open. I looked at the charts and decided this isn’t the best trade I can make. I sold out for breakeven on my EWZ position. I waited until the SPX got to 1088 and loaded into SSO puts and kept adding to other inverse positions like FAZ, SKF.

Check my twitter account for today’s tweets, but you have look back by clicking more.

Once I realized what was happening in the morning window according to my levels I decided to hold everything. Everything = FAZ calls, SRS calls, SDS calls, and TZA. Then I saw the level 1087.68 on the SPX break and I loaded up into Nov 36 SSO puts. I then sold these an hour later.

Luckily, well not lucky, skillfully, I held onto my positions and ADDED to them on this morning’s open. Right off the open on the back of the MSFT and AMZN earnings the market gave me a gift to add to my positions. I posted this chart this morning to chart.ly.

SPX LEVELS – I haven’t done one of these in awhile, because there hasn’t been a range created in quite a few days. We should sell off until we create a lower range:

SRS and FAZ

All calls and puts that went under water on yesterday’s up move, however, they are all positive now, especially with the add on’s I put to work this morning. I’m also 100% short via the 2x index funds in the $RUT, $NDX, and $SPX.

If you haven’t been paying attention, look where I got out of my DSX, GNK, and POT calls and look at where those stocks are trading now. I will look to revisit those 3 on the long side with a down move in the US markets.

:
I like to start off with the bad news. The GILD chart as of yesterday was a bullish setup, however, that chart turned bearish right off the bat with the egregious gap down. Their earnings were good, but the reaction was poor. GILD ended up bouncing on the day despite the selloff. Either way it would have been a loss, because the calls got crushed despite the bounce. -33% loss. There was heavy/unusual call vol on GILD today so there could be some shenanigans going down.

KEY – Sort of sucks, sort of doesn’t. I sold my Nov calls for breakeven, and I sold my December calls for a 15% loss. Here are how the intraday and daily chart played out.

F – Sold my calls in F for breakeven. I had gains in these options, but again, the market reversed so quickly and I had so many trades to make, this is almost a win.

Things that worked

:
DSX 19% gain – Sold the calls and I will come back to them.

DRYS was also sold for a little gain, but DRYS was a tell on the day.

GNK 53% gain – Also sold the calls when I saw the market was on the move to reverse.

Note the shooting stars on all of these. This just suggests pullback. See what is happening now is that bullish setups are turning into bearish action. Its an important signal.

I will get long these Dry Bulk stocks again, if the weekly charts hold steady.

I bought intraday BQI and ENT both tweeted, and sold for 8% in ENT and 6% in BQI.

I still have DBA calls up 15% right now

On the market reverse I bought FAZ Dec 20 calls, SSO Nov 36 puts, EWZ Jan 73 puts, TZA, and KEY Nov 6 puts (a very small amount with leftover cash).

FAZ calls are up 10.4%
EWZ puts are up 9%,10%
SSO puts are up 10%

The purple crayon is being busted out on the $SPX:

I went short the indexes with my usual 2x funds – inverse $SPX, $NDX, $RUT. A very nice and bearish slice through the 21dema on the RUT today as well. When you look at that and then see where the SPX and NDX 21dema’s are….we are talking about 30pts down on the $NDX and 1069.82 on the $SPX or 12pts lower.

and the last thing….I crushed my drives today consistent and straight. Haven’t golfed in probably 4 years and I’m playing in a charity tournament tomorrow.

That loss was offset with the great move in the Dry Shippers today. GNK busted higher and my calls are working well. DSX also recovered and turned a small profit, I held because I’m expecting more up in the sector. I own calls in DSX and GNK, and own DRYS equity.

Afterhours GILD reported and the reaction wasn’t good. The numbers were great, but its the reaction that matters and the only thing that pays me.

I bought DRYS, sold PURE, sold ENT, sold my KEY calls this morning for 30%ish, then bought them back. I have KEY calls for tomorrow’s morning announcement. With the way reactions have been its been sell the news, so I’m not expecting good news, but the chart supports futher upside.

I sold the remainder of POT calls today for 53%ish, and my WMT calls for 45% gains. I want to buy both of these back if they pullback. However, its going to be tough if the market continues to act toppy.

I also own some F Nov 8 calls.

Remember last week when I was trying to short the market, and calling for a major slide in EWZ? I was off a few days. Its happening now.

I sold about 40% of my POT position this morning for around 50% gain, and kept the rest of the position and is currently up 81.5% at the close today.

WMT has been kick ass as well. I’m up 52.5% on the trade.

GILD – This one started to move today. Currently up 8% in one account and 5% in the other account. I have this one as a smallish position compared to my WMT and POT position size.

EAT – I have a decent size trade on in the EAT Jan 17.5 calls. EAT reports tomorrow before the bell. I’ll be surprised if this chart doesn’t lead to something higher.

KEY – I have KEY from Friday also. They report tomorrow pre-bell as well.

DSX – Dry bulk stock I bought on Friday. Well I bought the Dec 15 calls that is.

I also picked up GNK Dec 15 calls today:

My take on F, I bought some Nov 8 calls today.

In some of the other crappy stocks I was playing, I decided to dump my SUPR and take a 7% loss, sold my last bit of ROYL for 40% or more, I dumped my CPE for about breakeven.

I bought SYNM, and DBA calls today in addition to things mentioned above; F, GNK, and added to EAT.