Another Winning Day, APWR, FAZ, TZA
My big winners today were APWR (21%), FAZ(7%), TZA(4.5%), short QLD(3%), short SSO(3%), as well as getting short via my double leveraged funds over at Rydex (roughly 3%).
Smaller wins came from short UYM, KIRK, short SGR (slightly above breakeven).
Losses came from DRR (mf’er moved on my market order), CALM, buys into APWR after I sold it, short TBSI.
TBSI was a winner if I hung on though, I was on the mark with that one, but let it go for no reason other than fear.
Overall egregious gains were made. Bringing up my intraday trading account using my new trading methods up to 58% in 7 trading sessions. Things are going well and I plan on keeping it rolling. If this keeps up I could catch Tim Sykes record soon.
As far as the SPX goes I said I’m bearish below 904 and we broke that on Friday. Today we cracked lower (perfect!), and the SPX tested the next level of 869.42. We went lower than that and closed above a major line in the sand. Bears think that we can easily slice through these lower tier levels. No. There are too many technical improvements going on under the hood for this to happen. I would like to see an open in the SPX at or above 869.42 and then a higher close. A SPX move that has an intraday move below 869.42 and then closes back above that level would be bullish. A bullish test up to 904 (or more) would likely follow.
I forgot to mention that I have cashed out of everything and am looking for that SPX move tomorrow to initiate my next index trade.
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