http://www.stockrake.com

I started out immediately by selling my JPM puts from Friday for a 12% loss and waiting to see how LDK reacted to the morning session action. I ended up selling the LDK calls while it was still above 9 for a 75% gain.

Next I bought FEED and ended up selling that for a 3% scalp on the day. There was more upside in it and still is.

I sold my MOS calls from Friday for a 8% gain and sold my BG calls for 0% however, both of these had nice pops right at the open that I did not sell into. Better gains were to be had for sure here and still look good, I’m a buyer of pullbacks.

Bought a pathetic amount of COIN today with what little cash was available. I planned on selling something to buy more actually today at the close, but instead I’m glad I didn’t as it could be a better price tomorrow or later in the week. Either I’m not going to commit alot of money to POS.

*****My current minor bias**********
I think the market is working its way lower. We now have a guaranteed buyer to sell into. That is the mutual funds. Smart money has someone to take advantage of here and the opportunity is too obvious. Mutual funds have to buy due to inflows and a must to look like they own something. While smart money who have been trading this market up have that buyer to dump into and take profits off of.
*****End current minor bias*********

However, the one fly in the ointment for me is the regional banks seem to be doing turning up. Moreover, things that are close to teetering on moving down like GS and JPM, the RUT, are also so close to flat that they can move higher and if the Regional Banks start to kick in it might be the excuse the market needs.

I’m long the NDX, short the RUT, and have been long different stocks as you’ve seen. I’m playing the shorts in JPM, MCO, QQQQ, and FAZ calls for the short term here and will move to a trending position if that trend materializes. However, it isn’t there yet. I gotta remember that.

Two potential long trades I’m looking at NDAQ and TITN.

WMT today reached near 55 today. You might remember I owned the Jan 55 calls in October. I’m still working on my execution which is so far rated a D, but there is nothing wrong with the systems I’ve built. WMT has been a rocket ship since late October.