Yesterday’s bull rush was a short covering rally, nothing more. 41pts in the SP, and 337 in the Dow. Another 12 in the SP futures this morning… That is going away soon. A bull rush to suck in the retail investor. I don’t trust it, NO frickin’ way. I went short of the IWM @ 79.20. The S&P @ 1490-1495 is the obvious short. We will see, the obvious is frequently wrong. There could be one more rush, but I won’t trust that either. I like the way Mr. Knight “puts” it… Fibos are cool.
SPY Daily. Still in a medium term downtrend, within a long-term uptrend
Here are some photos from my afternoon hike. A nice way to decompress during a trading day.
I received lots of good news this morning. We are looking into making it even easier for ski instructors throughout the US an even lower cost option in having their very own MySnowPro.com blogs. I love it. And few trades are working out beautifully.
7:30 in the morning
ZGEN – Exited 4 units of my microcalendar for an over night .22 profit within an hour of the open. Lovin it. Not bad when my initial risk is a Positive number.
IWM – ITM bear put @ 79.20,then a second bullet @ 78.68. Bulls, stick it where the sun don’t shine. I sold 1 unit @ 77.86. And I still have one unit on.
INTU – Exited a 1 lot 30p dec/jan as a feeler @ .35
9 am on the same morning, crazy eh?