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Right on the open I noticed PG catching some green and that was my cue. Now its weird right, who cares about PG. Whats the big deal?

Well I’ve been scouting it as an oversold play and I planned on buying calls today, but it started moving before I could get a position on. I didn’t think and just bought the FEB 62.5′s. They were up as much as 62% intraday and closed up 36%. I caught about 10%, but I’m still holding.

If we closed up today, I think we would sell off further. However, I bet we get some kind of doji day tomorrow and maybe it ends up green at the close. If that happens, look for further upside then a potential rollover.

I said I didn’t have a reason to sell, I made a mistake. I did yesterday I just didn’t see it. Regardless of that, today should be back on the long train, so in this instance, its “eat the loss” and move on. Near 2.6% in the 2x indexes. Held long, actually rotated a little more to the NDX from the RUT. Semi’s look attractive.

I sold CHINA, trimmed FRG took profit, sold ZOLT calls – too risky small loss, IAG and LIHR small losses, DRYS calls had to let them go for loss of around 28% – too risky, but still holding TBSI and EGLE.

Bought AMD Jan 9 calls hoping for a bounce as the setup for that is on the table.
Added to RGR.
Bought PBY, TBSI, JRCC, MOT calls, and the PG calls.

Btw the same scan that got me into anything mentioned also had MGM in it. I just chose the stuff that didn’t have a MGM type move.

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