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I went long a half position in 2x NDX, SPX, RUT as of today’s close. The reason is that the market is oversold. I know alot of people are worried about “Black Monday,” but it ain’t happening. Not yet at least, not this Monday.

I don’t care about news, but the news that could help the bounce is a relief rally in the Euro due to ECB news out for Greece, Goldman settlement, and oil wells capped. None of this solved the major problems, it could provide a relief rally though. That is what I’m playing for. When that bounce happens…I will look to get short again. Inverse ETFs across the board.

For those that don’t read this blog often, I was short for this disasterous week. Not the whole week, just Friday to Tuesday. Then I went to cash. Now I’m long as of this Friday’s close.

I also bought bought these today:
DGP – 2x Gold
http://chart.ly/vfyt4q

AGQ – 2x Silver
http://chart.ly/8kg7q8

X
http://chart.ly/gdsr58

TEVA
http://chart.ly/mtkfa6

WMT
I bought a buttefly call spread in this today. I’ve never bought a butterfly spread before and didn’t realize that was what I was doing. I will lower the amount of calls in the body to be even with the calls bought so it turns into a call spread with exposure in case WMT goes higher. I own the May 50/52.5/55 spread. Looks like it would work when I check the TOS analyze section and where I think WMT could bounce to.

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