http://www.stockrake.com

So the last two weeks have been pretty kick ass.

First I’ve been calling the index trading like a champ lately and before this little runup in the face of a MONSTER wave of bearish noise.

Things I sold today:
I’m out of the last of my ABX calls for a 346% gain (ABX chart posted on Chart.ly before the move), GFI calls 214% gain, UXG 11% gain, FRG 7%ish, sold some of my MTW Dec 7.5 calls for 57% still holding the rest.

KOG was sold for a 40% gain. I posted the buy/chart to Chart.ly.

GROW – From the labor day watchlist, up 5% on it from this morning’s buy.

Mistakes that were right on track, but executed poorly were:
-TSO – Also had calls in this one as well, but let it go on Friday. These calls were up 80% today along and would have yielded a 77% return. I still have a small TSO stock position up 8%.

-Sold my YRCW calls this morning early. Big mistake as these calls would have been a NICE gain. I had no reason to sell other me wanting to trim my September option exposure.

-VLO calls that I sold on Friday.

My other trades that are losing right now:
S Oct 4 calls -13%, S Jan 7.5 calls -13%, LH Sep 75 calls -80%, PLCE Oct 30 calls (bought near close) -15%.
CEPH Nov 60 calls -17%, SQNM Oct calls -5.5%, S Oct 4 calls +5%, S Jan 7.5 calls -50% (diff buys).

AIS and PLG were bought today at 0% now. Bought AVII as well -3%, this I can dump if its not working the way I want.

Despite any screw up trades, I’ve been making $ everyday mostly due to the losers not outweighing the winners. Position sizing. The index trading though has been near flawless. On that front I’m back to cash. Why?

Well the market closed right at SPX 1025.39. This is under my level of importance. That I mentioned here, here, here, here, and here.

If tomorrow we close above this spot, I’ll get back long. In fact, if we open up above this price level and then remain there around 10:30 I will be long. Otherwise I’m looking for a pullback tomorrow. After that I want to get long again, maybe even on an intraday basis.