I only entered into the S&P futures once today, buying a pullback and attempting to inflict pain on the short sellers. The trade earned two handles on two contracts but once the sellers defended their territory, the land north of 1645, I backed off the action and simply observed.
I had a trigger right at the open to go long, but I was distracted buying weekly calls in NFLX and LULU. They’re both about flat currently, and I have the distinct feeling I may take some heat before these trades can play out.
I closed out that aching ACHN position, it could still pull off a Hail Mary bounce recovery, but I really don’t feel like sticking around to find out in this overall choppy tape.
I took a 1/3 scale in DANG up here near recent swing highs.
Now I’m essentially sitting on my hands, waiting for the market to play out.If you enjoy the content at iBankCoin, please follow us on Twitter