SPX BUY signal

System shows a BUY signal if SPX stands above 1033.

Market refuses to go down, let alone down hard!

I am back

I was away for the last 2 days and am back now. I sold out AMD at $4.05, and still keeping MGM, and some OCT puts on market.

Signals are mixed from system. So better to have fewer positions now. I am expecting market to have a 15-20 points correction from here. But who knows ...

Manage risk!

New high stamped

Market closed with a new high last Friday, which completely taught me a lesson to me. For my short positions, DUG, ERY and SPXU shares got stopped with some loss, while keeping OCT DUG calls and OCT SPY puts. I have to admit that I didn't do good on risk control this time, too convinced with last Monday's sizable down, and underestimated bulls engery to push market to a new high. Well, wrong is wrong.

Well, I added long positions on Friday: AMD and MGM.

AMD looks that it bottoms out. MGM is lagging while LVS shows a lot of strength (breaking out) on upside. So, I am expecting MGM to catch up from here.

Good Luck on your trading next week!