Friday, May 16, 2014

Market update

Previous market update here
VST/ ST - Bearish
IT - Turned bearish as of market close yesterday (stopped at 1880 SPX long)
LT - Still bearish
VLT - Bullish
 
I am short SPX right now with adequate chops. That's not a typo, but I meant 'stops' haha. The April - May period every year is full of chops and stops get hit relentlessly. In the my 2013 annual report, I did note the April chops effecting portfolios.
 
I am short right now but I am doubtful of this decline, let's see. I am watching the options market everyday after close. While $CPCE is in Bearish territory (>0.75 in the bottom indicator) (chart below) ,
 
 
it also means that a close below that 0.75 means we are bullish again. If you keenly observe the chart, a rise above 0.75 and close below marks the bottoming process. The process could take a while, we have no idea till confirmation. I would always have 2 positions (trading on the basis of hourly/ 4 hourly charts and swining based on dialy charts) for this reason. I select 2 different instruments if I am in a bipolar mode. And often times, it does work well for me.
 
If you keep your risk under control, regardless of chops/ stops, you still emerge a winner in the annual horizon. Good luck to you!
 
 


Wednesday, May 14, 2014

Market update

VST/ ST - Turned Bearish (not taking this signal)
IT - Bullish (bought SPX at 1889 on 05/12)
LT - Turned bullish but waiting for the week to close for confirmation
VLT - Bullish
 
 
Previous update here
I was stopped out of VST/ ST/ IT bearish positions on 05/09 at SPX 1880.
This market grind is chopping both bulls and bears for the last 1 month in all indices and commodities. A breakout has not yet been established in any form of the market.
GLTA!


Friday, May 9, 2014

Market update

Previous market update here

VST/ ST - Turned bearish
IT - Bearish
LT - Bearish
VLT - Bullish

Thursday, May 8, 2014

Update

Based on the update here .
Usually I don't post VST/ ST trade updates since it is already implied at open that we either close on "adequate" profits (VST & ST trades I mean) or get stopped out. Unfortunately, I got stopped out on ST trade that I opened today morning= small loss. 

I didn't get the next signal turn yet on ST trade, so we stand at 

ST - Bullish (stopped out), no turn signal yet
IT - Bearish
LT - Bearish
VLT - Bullish

The market hasn't closed yet for today; so if there are any changes, I will add in the comments section at EOD.

I took profits on the TSLA 190/180 vertical put spread at open today. Good luck trading!


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