Added a few 205x calls at $3.40 on AMZN at 201 as well.  AMZN's right at 200-day SMA, seems to be good support around here and should at least bounce by next week.

123-123.5 range on SPY another floor it seems.  Cashed out on puts (+100%) and loaded more on calls.

GMCR calls also up almost 100%.

Let go of the puts this morning.  Seems like we're just channeling and gapping down each morning.  Will pick up a few puts to hedge the calls again at end of day.
 
 
 
Also picked up GMCR calls this morning.  They seem to easily jump >100% in either direction so I'll pick up puts to hedge when we get closer to end of day (hopefully cheaper).

Opened up puts again near the middle of this morning's range to create a straddle w/ my existing calls.  Flat day so far but expecting a stronger move once we break consolidation.

Picked up more calls at 125 - looked like a similar floor to 123.  If you look at the daily chart, today's move seems to just be pullback on the way to the resist line near 126.5

Keeping just a few calls after close though and selling most of it.  I'd prefer to wait for us to get to another major resist/support on daily and go straddle from there (opp for 100%+ in options either direction).

Picked up SPY 125x calls at 123.0.  SPY is up past 124.20.

Looking at pullbacks near open and then 125, 126 resistance.

Gap down to 124.7-ish.  Thinking we bounce here.  Picked up 125x SPY calls at 1.15

Got in calls this morning when SPY was at 126.  Sorry for inactivity a bit - got like 3 exams this week so I haven't been trading too actively.

SPY at 127.90 now Calls up 60% (bought at $1, now at $1.60)

Just another up day so far.  Gotta stop watching the market after close.  These other indicators are confusing my outlook.

Watching what happens at close today.  Another flip with Greece - referendum now called off again.
Depending how this week ends, maybe we'll stick to the overall up in Q4 and not bother with another dip.  It could be that the dip earlier in the week was sufficient to form the right inverse shoulder.

Nice bounce today, almost 200 points on DOW.  I'm expecting we'll see another day or two of continuation before coming back down again.

Going into December, I'm mainly watching this inverse H&S formation on FAS.  I realize FAS is not a market indicator, but I notice that it's generally been easier for me to gauge the market using it.  Maybe it smoothes out some of the more extreme fluctuations or something.


^Basically what I said about a couple more days or so of uptrend, then a pullback further for the right inverse shoulder (the 3rd dip in the W) before we go up more strongly.

For the longer term, I'm still thinking we'll be up overall in Q4 before we seriously head down in 2012.  If the chart above holds the next few weeks, it should confirm that.

Edit: Just keeping an eye on currencies here - we might go into that third dip sooner without more uptrend, so I'd watch for an entry on the short side rather than try to time the bounce.

Get in chat if you're trading:
https://www.pftq.com/forums/chat/

Added a new chatroom to the site:
https://www.pftq.com/forums/chat/ (there's a link to it on the Forum, upper left)

Those of us trading in the mornings can meet there using the pftq.com accounts to login, since Asee apparently has so much trouble logging into AIM.

Support at 128 for SPY and rest of market.  Should bounce here at least (if not end pullback).  Calls on AMZN, JDSU, etc look very nice if you want to enter.  Just careful about the weekend but a strong close should help.

Going to stick with my original plan from last week that the quarter overall is bullish while 2012 we start to dip again.



Personally in BAC Oct.28 calls at $.15 and JDSU Nov calls at $.30 right now.

Entered puts on SPY on its bounce to 124.50 this morning.  Will exit if we don't see lower lows below 123.80 today.

Looking at yesterday's uptrend as support here.  If they break that, I'll go short, but I don't plan on holding over the weekend because the uncertainty with Europe.

Watching a potential inverse head-and-shoulders here.  That said, even if it occurs, we have strong resistance in the 123.20 area, so I'm not expecting the uptrend to last more than a day (unless the EUR crisis of solved or something).

Watching these lines here for the S&P.  Wedges getting broken on the upside.  The real test will be the 1230 ceiling (123 area on SPY).



Thinking of going into puts on the next retest of highs.

JCOF rising on rumors of earnings 10/25.
JCOF at $.60

Looks like no break of the August channel.  Back to shorting FAS at $12.