Joined Oct 26, 2011
153 Blog Posts

The Moves

I sold my remaining SPY June 07 puts for a nice gain. I sold Yen calls for a nice gain. I reduced my LNKD puts for a nice gain. I sold my VXX calls for a very small gain. I still have my SOHU puts and TRV puts and ASTX puts… and my long term December SPY puts as cheap insurance (cheap on a cost per month basis, especially since I will roll them over or sell them well before the theta decay really hits.

For the time being I still own the dreadful metal called Gold but that probably won’t last. Copper is up yet FCX is kicking me today.

I scooped up some CAT weekly calls very close to the low and followed OA on One of his plays here… not saying which ones to protect the tremendous value his members get at trading addicts.
Update:I see he listed it in the comments, so I suppose it’s “safe” now to say it was AMZN.

Also took off my SODA calls today after following OA for a big gain.
I held too long on AFFY, but not selling at high prices isn’t a reason to sell at low ones. The structure is just fine it’s still making higher lows on a short term chart, and it’s still above it’s breakout price of $1.40. I am still long FRO of course, from $1.85

I am not just taking my shorts off to rebalance, I am shifting towards a bullish bias more aggressively, taking off some of my neutral plays (like FXY) and adding. However, that does not mean that I don’t have ways to make money if market goes down.

CASH is still a position of course, as always. I like the way commodities and oil are moving today. I like the way the market found a bottom off support, holding off the volume pocket.
I am still worried about volatility ahead and possibly some kind of dramatic crash, but that’s what my puts are for.

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