Long Euro futures @1.4291

Euro is hard to trade these two months since it doesn't have clear trend. Our system for Euro ask we long Euro U9 @ 1.4291 and we did it on lindwadock account. the stop price for this trade will be 1.4211. and the first target will be break 1.4320 level and go to challenge 1.4450.

also The reverse swing system for ES lost a big one from 892.25 to 993.25. and Normally after a big loss, the system will profit in the following several trades. today, the system ask to short @1006.25 after close a long from 993.25 to 1006.25.

Set Stop on URE, $5.1

for today.

SPX short term trend pivot at 1000.48.

Sold FXP

Sold FXP with a small profit.

Tough to trade this market

It is tough to trade this market at this moment, for either bulls or bears. So a good strategy would be sticking to your plan, don't move too much unless you have a very good reason to change.

1) System suggests to continue to go up. I loaded URE after cutting SRS positions, but not profitable on URE positions though. Holding URE.
2) DUG covered calls protect my DUG positions today. I will let the guard on until 8/21 opex day.
3) MGM is disappointing, with +4% at open, but closing today with loss. It still fits into my set ups: above SM200, with light volume on correction. Stop still at $7.95
4) FXP is more disappointing today, closed in red with HK (-3%) and China (-5%) crashing yesterday. Holding it.

GL!

Cut all SRS and QID

Hold FXP;
MGM looks good;
DUG covered calls work fine;

Protect short positions

Today is a down day, oh yeah! My sell limit orders were not triggered while I was away from desk. My short positions are doing well. DUG, QID and FXP are gaining profits. However, I list as follows what I smell and see, and what I am going to do or already did, to protect short positions.

Findings:
1) Ptrend system triggered a BUY signal at today's close, closing its losing SELL call.
2) QQQQ and XLE bounced right at support (MA 20 on daily chart) intraday, indicating that bulls are not giving up and still buying at support. Surely they don't give up, at least not this easily.
3) IYR, to be fair, can only be considered as correction technically after surging days, esp with smaller volume on downside in these two days.
4) SPY corrected its overbought conditions, which may get bulls ready for another pop-up.

Do's:
1) Sold DUG AUG 17 covered all at 0.6. Not bad profits, 17-16.1(cost)+0.6, even if calls are exercised on 8/21.
2) Prepare to sell QID and SRS either today's AH or early tomorrow when seeing a little bit more weakness.
3) If market regains its strength early tomorrow, reverse to long.
4) Added a long position into my porfolio AH, MGM at $8.3. MGM stands above it MA200, retractment with light volume today. 1st target $11, 2nd target $14, stop $7.95.
5) Keep holding FXP as I see China market is in question, and so are emerging markets (BRIC).

Anyway, good luck and control your risk on trading!

Set limit orders on QID and DUG

I will be away from 10AM, and set sell limit orders for QID $27.45, DUG $17.9. I will continue holding them, if those limit orders are not hit today. FXP and SRS will be held.


Good luck!