Today 2 things happened… The market hit a resistance level and bounced off of it and the Feds released their notes on their meeting. These two combined sent all 4 major markets (Dow, S&P500, NASDAQ, Russell) down for the second straight day.
My Trades:
Bidu (Put) - Worthless
CCJ (Call) - Stopped out with a profit
CNQR (Stock) - Stopped out with a loss
EWZ (Stock) - Down today, but remained above my stop. In fact, tightened the Stop some
JASO (Call) - Down today, but remained above my stop
MTB (Put) - Down Today and moved to the profitable side
OIH (put) - Down Today, recovered almost all of my losses up to this point. Set a Stop Loss
RIG (Put) - Down Today, Big Profit for me today, moved Stop Loss Twice to Lock In profits
VIP (Call) - Up Today, still one the losing side, but close to the break even point
Outlook: Based on today’s action, I am moving to short term Bearish in the Market, at least for the rest of the week. I doubt that given the holiday weekend, there will be much trading on Friday. Thursday, I imagine will be the heavier of the trading days. Not sure what I will looking to pick up tomorrow at opening bell.
