Nov 7th – pushing hard on the lows

I was bearish, but did I do anything about it? Not enough.


Today could have been better for my acct, it was knocked back to Monday’s levels. Amazing how strong the bears are, I should have know this. Did I do anything about it. NOPE. This is moving toward the bottom of the channel I outlined last night. I want my micro calendars back… I can’t find much of the easy money in the market right now.
S&P – 462 declining 15 advancing. Ouch. 44pts down, DOW – 30 down, 0 up. WOW!!!
Eric Clapton with a little blues for the masses

I am 78% in cash right now. I am looking for some bargains in spread pricing.
ZGEN – I did manage a nice 25 contract calendar flip for .07 profit.
USB- exited 2 unit @ .20. I wanted to take some more risk off the table, especially if things get really bad in the market.
UNG – underlying dropped to 39.40, and I am hedged @ Nov 41p and 46c. I am looking for a drop off the open, then a bounce off the trendline. Volatility is relatively high in the Dec options. The chart displays the trend very well. I am looking to buy another 100 shares off the bounce, on a trend change. That should be around 38.50-39.
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HRB – I bought 2 units of Dec/Jan 20p @ .17 to go along with my .20 price of yesterday.
NVLS – disaster. I didn’t not get when I was 100% up, and now I have given alot back. I am still up, but I better get my head out of my rear. I am looking to exit a good portion of my position if we get a recovery bounce tomorrow.
The SPY drove down through the 200 MA and down to the 50% retracement
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