Taking My Time

I am having a mixed but mostly green day in the old trading portfolio.  The action is nothing like the flaming swords of earlier this year but much more palatable as I focus on some new strategies elsewhere.

My only move this morning was buying June calls in CREE.  I was chopped out of this name last week and decided to get back in and sit put.  My DDD is working as is the QQQ trade.  I am at a critical place with my AIXG trade which is down a quick 10%.  I can either add or cut or do nothing.  So far, I continue to look for buyers before acting.

We had a fast morning and we are grinding along, summer style.  Time favors the buyers on the intermediate term as it suggest these higher prices are gaining acceptance.  There was a battle down at the 3600 handle century mark.  Which side we of 3600 close these trading days will be my risk proxy this week.  Century marks matter and a flush below this level would swing the door open to blow through the bottom of consolidation.

I am keeping pace with this afternoon market, which is slow and steady.