Was a little concerned about DIG and FCX at the open, they gapped down at the open but both rallied to even for the day, a nice finish and definitely what I want to see on a reversal of trend. Going into the bell, I added to my position on the bond short $TMV as it printed a nice engulf as bonds sold throughout the day.

Current positions:

DIG @ 79.29

FCX @ 34.52

TMV enter @ 43.98 add at 44.85

SPY printed a great candle so I think we’re ok being long from here. I wasn’t too keen on it this morning. Just looking for a base hit here. Base hits not home runs.

For some reason I got sick Sunday going into Monday. After jail visits I couldn’t hang and went home. Was sick all day Tuesday but watched the market after switching between Godfather 2 on demand and watching Gravity on double speed and replaying Splinter Cell Blacklist. Everything seems to be moving in the right direction. Yesterday I added to my $UVXY position so to recap here’s where we stand:

$BIS starter position –  12.89

$ERY Starter plus add  – 14.02

$TMV Starter – 43.98

$UVXY Starter plus add – 24.35

I can probably put on two more adds before I am in as much as I care to be. The Courts should be sending me a check for a recent ACCA case which will cover September and Octobers deposits. I have some appeal bonuses coming in too, which I can use to KO one of my credit cards from last year’s wedding. In October I have two sentencings, one for a standard PANEX drug case, and the other for a simple case with tons of discovery, and a murder trial, and those bonuses should easily cover deposits going into the Spring. While I am concerned about performance, I am also concerned about making sure I stick to my deposit plan.

EDIT: Bulls putting in a bounce play. Closed $ERY at 14.70 up 4.85% representing a 1.5% win to the roll

Closed $UVXY at 24.59 up 1% but only .3% win of roll.

Closed $BIS at 12.16 for 5.6% loss but only .6% loss of roll.

Holding $TMV the bond play is more of a long term idea at this point.

TOTAL WIN LOSS FOR ROLL +.1%

Update 2: Bought $FCX @ 34.52. Bulls putting in a rally candle for now, FCX making a hammer, likely oversold. Playing for bounce to middle bollinger area, which is about 5% out. Might be a good place to squeeze shorts.

Update 3: Bought $DIG @ 79.29. Same as above. Just looking for a bounce here. $FCX has some oil flavor to it, but also some PM side so its not an entirely duplicate trade. Its basically the opposite of $ERY but only 2x bull

If i can get just a couple points out of these two guys I’ll be very happy.

What a weekend. 3 noisy kids for a sleepover, developing a cold, and had to move one of my clients stuff this morning.

I forgot to add Friday before the close I got in with chess on the bond short trade. I’m holding $TMV at 43.98. This morning the energy sector is weighing hard on the market, so I added to my $ERY @ 14.25 to bring the cost basis to $14.02. Still hoping for correction time. Metals are crashing, oil is collapsing, dollar is flying. Looking like deflation, but no market catching on. Could Harry Dent be right? Almighty lol.

Got out of $JO. Dollar strength with across the board commodity weakness had me concerned on this one. Furthermore, though I got in with chessnwine on the trade, I got in much later than he did. In any event, its a loss but not a huge one. -1% of roll

NET WIN/LOSS FOR THE MONTH -1.1%

In the interim I am holding UVXY, ERY, and now BIS looking for pullbacks in the market, energy, and biotech.

[email protected]

[email protected]

[email protected]

I covered my $HAL short. It’s behaving like the strongest oil stock. Meanwhile with the oil spill rulings $ERY is getting moving. This frees up capital to apply to $ERY or $JO or another idea if it comes along.

Covered $HAL @ 67.27 for a .54% loss representing a .6% loss of entire roll.

I almost dumped $JO this morning but decided to cut the stop loss on the gap down, and see what happens. Lo and behold it surged on the open. I am replacing the stop loss at $37. Currently a minor loss, but should get going from here.

$ERY is a minor win, and I am hoping to swing it to 15$. $JO, I have no idea where it goes. But this frees up some bullets for other things.

MONTHLY ROLL GAIN/LOSS  -.6%

Update: $GDX broke through consolidation and should catch down to gold. I like the juniors because it amplifies the senior’s move. Bought $JDST for 12.07.

Double Update: Things are looking ugly in the broader market. Bought $UVXY for 24.14. During the minor pull back in late July it ripped 50% or so.

Got out of $JDST for a win, but because I tried to be a smartass and daytrade up near 13.50 i pissed away some profits. Only won 1.3% Stupid.

That offset the $HAL loss almost exactly, so I am not -.1% on roll for the month.

New rule do not go into something with the express purpose of daytrading and do not add to a huge engulf at 330. If you’re adding, get it done by then or stand pat.

This month I will earn 3.5% of my entire roll. I will use charts and the 12631 service in ibankcoin.com

Today I entered $JO @ $39.00. I can only enter a few stocks at a time so any entry is abnormally large for my roll. I have a stop placed @37.20.

My reasoning: Chessnwine suggested, still a hefty discount, MAs moving up, higher low put in, recently pushed to 42 before pullback. In the middle of long consolidation going back to spring. Apparently there are supply/demand issues as well putting upward pressure on prices.

My target: Would like to get an add in, and see this get to 41-42 area.

Edit:

Also new position short $HAL @ 66.91. I wanted to buy $DUG to play the whole sector for topping out, but my lousy broker won’t let me, When I get a five figure roll I am moving brokers so fast. Anyways stop at $68.40.

Double Edit:

Thanks to chess there’s $ERY which is a 3x bear oil and gas. I’m going to tread lightly on this, but it’s so cheap I bought in at 13.57 and put my stop at 12.75 and there’s little downside risk imo.