Today was like the entire month of November wrapped up into a ball. Nice confirmation of the market continuing down, except for financials which were actually up on the day. This wasn’t a surprise to me as I said on Friday via twitter that GS had a reliable oversold daily signal and it should be shorted after it makes its move. The strength was a little more than expected however and forced me to cover FAZ calls, JPM puts, XLF puts all for losses. Actually I think some of my FAZ calls from Friday had a gain, but I rebought FAZ calls around 11 or 12 and sold those near eod for loss.

AIG was where I made some cash today. I went into Jan 31 puts and Dec 20 puts. They were then sold when AIG pushed to its 50dma. AIG ended up crossing down through its 50dma.

I still hold a small amount of JPM puts in a seperate account, very small, FXP, I bought DZZ, added to GLD puts, still have GLL calls, and I trimmed back my UNG calls.

Now UNG was a huge winner on Friday, yet I did not take something off the table. I expected more. Hogs get slaughtered. I was hog on this one. My signals even went off on Friday, but I was gaming for a gap up today in Nat gas that I could sell into. So those profits quickly dissapeared and I covered a large portion for breakeven to slight profit and I think the position is now down due to UNG selling off a bit more into the close.

I picked up some SMH calls, but its such a small position not even worth mentioning and its due to my head being whipped around so much that I just don’t want to miss a move.

I reduced my RUT shorts as today was looking so good for bears, but it rallied back forming a large daily hammer. I actually almost flipped it long, but the time to make a trade had passed. I still am long the NDX in a small way via 2x funds. So essentially I’m hedged with a slight tilt towards short.

I gotta say I’m pretty exhausted mentally and that is a sign that the market is probably ready to make a a trending move soon.

If I had to guess I think the market is now going up even though there are technical issues. The market appears that it won’t go down until next year. Again, I may have been so badly that I’m not thinking straight.

Thanks for reading

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