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!

Cut, cut

This was a bad trade on short side.

Bot SPY Put

SPY OCT 97 PUT.

SPX is now right at my resistance level, 1005.

Bot ERY $18.54

Bought back my stopped DUG, but this time I bot ERY.

Good opportunity for bears

Don't get fooled by the action of bulls this morning. Instead, it is a very good opportunity to open or add more short positions. I would stay away from financials, but focus on commodity related stocks or techs. Market is on the way of heading down, A MUST!

My best selections here are DUG and DTO for shorting oil-related, ZSL/DZZ for shorting silver/gold, and QID for shorting techs.

I will load some calls on DUG.

GL!

As is planned, I bought more DUG shares at $17.00 and DUG OCT calls. DUG option max pain is $17 on Friday. Let's see how that plays. Same stops.

1/2 DUG shares were stopped out at $16.75. Will revisit.