Well the market has been on fire. I wanted to clarify that although I am a Bear and love to see the market go down, I would rather just trade with the trend. For me, trading with the trend means if the market is Bullish, have more bullish plays than bearish. And visa versa. Right now I have about 80% bullish plays and 20 % bearish. This helps you in both directions as the market fluctuates.
No, I am not bailing on being a BEAR, as the market is about to make all time highs. I really feel that being bearish is the hardest thing for people to do. I love it and the higher the market goes up, the more room there will be for it to fall and I know I will profit greatly from that in the future. Mean time, trade with the trend and be ready to go bearish when the time comes. It happens fast and hard, so watch out.
Right now I am long/calls;
WCG
SMSI
SOLF
NDAQ
BTU
PCAR
GLW
CAH
AH
ASTI
SHORT/puts;
RATE
CAL
FFIV
DIA- Hedging
I could not be any more miffed about Rate. Stopped out for a loss. As with all stocks, there are many levels of resistance and support. This one apparently was in the 37.50 range that was used many many times in the past. I let my in the puts go and kept my out of the money. They do not lose as much value because of the poor delta.
The good thing is that my account keeps going up and ultimately, it is okay to be wrong if you can keep moving in the right direction.
I look forward to earnings on CAL and NDAQ this week.
Short on time, no charts.
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