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As the volatility picks up we get these large back and forth intraday moves.

I took my heavy shorts to cash this morning. You can see via twitter here.

Banking the beautiful 4% move in the RUT 2x, and > 2% in the NDX 2x.

I sold my FAZ for 4%, TZA for 3-4%. Held January FAZ, SRS calls, but sold October SRS calls. Held EWA puts and HPQ puts.

So I’m mostly in cash, and will look to short a pop in the morning. If the pop doesn’t materialize I’ll be surprised and will likely wait till Friday’s close to take action.

I bought AKS October calls as a bounce play. X is ready for a 1 day pop as well. I talked about STLD being a short after a bounce. We haven’t gotten that bounce yet. Since its the same sector as these other two – Steel – I think its setup for shot higher.

WYNN is shaping up as an interesting short.

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