The Market is raging – May 31

The market is starting off in RAGE mode. I am exiting CIEN, and entering COGN, and pyramiding Q’s.


The market is starting off in RAGE mode. I exited the remain positions on CIEN. It is up 4.5, and was moving out of my profit range. I managed to get out of the remaining positions for .30. A double. Yesterday, I was out @ .65. Overall, nice trade. I just put on my second level of the Q’s. I would like to see the Q’s bounce a little higher by the end of the day, and get away from this support/resistance point. I imagine the market will probably contract a little after yesterday’s fed move.
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AIG is doing me no favors today. It is approaching resistance at 72.65. Easing a bit as the morning moves on.
I am happy to have AVY out of my portfolio for a very small loss. It is up $1, over the price for which I sold it. Here is a big thumbs up to cutting Losses.
JADE is acting ok. Earnings was supposedly this morning May 31
AMTD remains up.
PALM is a dog. which is ok for my purposes. The 15p calendar is a double.
SPF is a dog. not so good. I want it to either go down toward 20, or up and over 22.5
I am stalking CONG. Looking to enter a July/Aug 40pCalendar @ .15. Volatility looks good, trend looks good. UPDATE – 1 unit purchased.
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