Things that sucked

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I like to start off with the bad news. The GILD chart as of yesterday was a bullish setup, however, that chart turned bearish right off the bat with the egregious gap down. Their earnings were good, but the reaction was poor. GILD ended up bouncing on the day despite the selloff. Either way it would have been a loss, because the calls got crushed despite the bounce. -33% loss. There was heavy/unusual call vol on GILD today so there could be some shenanigans going down.

KEY – Sort of sucks, sort of doesn’t. I sold my Nov calls for breakeven, and I sold my December calls for a 15% loss. Here are how the intraday and daily chart played out.

F – Sold my calls in F for breakeven. I had gains in these options, but again, the market reversed so quickly and I had so many trades to make, this is almost a win.

Things that worked

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DSX 19% gain – Sold the calls and I will come back to them.

DRYS was also sold for a little gain, but DRYS was a tell on the day.

GNK 53% gain – Also sold the calls when I saw the market was on the move to reverse.

Note the shooting stars on all of these. This just suggests pullback. See what is happening now is that bullish setups are turning into bearish action. Its an important signal.

I will get long these Dry Bulk stocks again, if the weekly charts hold steady.

I bought intraday BQI and ENT both tweeted, and sold for 8% in ENT and 6% in BQI.

I still have DBA calls up 15% right now

On the market reverse I bought FAZ Dec 20 calls, SSO Nov 36 puts, EWZ Jan 73 puts, TZA, and KEY Nov 6 puts (a very small amount with leftover cash).

FAZ calls are up 10.4%
EWZ puts are up 9%,10%
SSO puts are up 10%

The purple crayon is being busted out on the $SPX:

I went short the indexes with my usual 2x funds – inverse $SPX, $NDX, $RUT. A very nice and bearish slice through the 21dema on the RUT today as well. When you look at that and then see where the SPX and NDX 21dema’s are….we are talking about 30pts down on the $NDX and 1069.82 on the $SPX or 12pts lower.

and the last thing….I crushed my drives today consistent and straight. Haven’t golfed in probably 4 years and I’m playing in a charity tournament tomorrow.

Thanks for reading

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