9/13 – And it’s up in the morning, zzzzz in the afternoon

The dollar is in the toilet, we are getting ready to drop the fed rate (they do this when the economy is slowing) So let’s drive the market up!! What??


The dollar is in the toilet, we are getting ready to drop the fed rate (they do this when the economy is slowing) So let’s drive the market up!! What?? I am tired of all the fundamental double-speak. The same data makes to the market do 4 different things. Sick of it. I am just going to look for opportunities to trade against those who trade such “funnimentals”
I was wishboned on my BIIB and LEH trades. I get long BIIB, so it goes down, and short LEH so it goes up. ONT is doing nothing. Frikin funny. Fortunately I am playing very small with directional trades. The DGX calendar performing beautifully.
I don’t want to be holding long premium into the weekend. I think there will be a huge suckout in Volatility early in the week.
Jefferson Krull telling it like he sees it

LEH – exit 2 lots @ 4. Just silly.
MEDX – 1 unit 15p calendar for .05
LCAV – Exited 35p caledar for .17
MTH – Entered 1 unit of Dec 20-12.5p. Underlying @ 17.43 for 3.40.
MTH – How much down is left in the housing stocks? I don’t think the summer was very good for anyone in the housing sector. And I am banking on new homes are not on the wish list of most potential buyers.
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I am going to enjoy fall today. This market is tiring me out. Chopfest. Maybe I will play channel trader.
When I arrived back from the Golf course, BIIB had bounce back into the profit zone. I almost exited my position for a loss for the fact it gapped below yesterday’s support. I decided to let it go, as it hadn’t reached my stop yet. I guess a watched kettle doesn’t boil.
Here is the SPY chart: We are at the upper level. I think we drop tomorrow. That would be great for my 145/147/149 butterfly position. I may pick up another unit of that to sit through the weekend.
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j

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