Came into this morning short with size. EDZ got clobbered right on the open. I actually was up late and went to bed around 4am Dow futures were showing -77 and things were looking ok. I wake up around 9:35 turn on the tv and see Dow +354. That was probably the biggest WTF wakeup I’ve had in the market in quite a long time.

I immediately sold everything. Taking the losses because my plan was completely violated. The market stair stepped higher all day with the MOST painful twist if you were short was the last hour as there was a major rip.

At this point, the bigger trends are still in place. This is so far a massive bear rally into underside of daily 150ma’s to a T, underside of a declining 50w ma. My weekly swapped to green with this 220 pt flip flop of the weekly candles, but I am naturally skeptical of whats going on the market.

At times I wish I just stay invested long all the time. This November has to be the muddiest trading I’ve ever experienced.

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DRYS, SOLF, CSIQ, UYM, QLD (actually sold it when the market was up large), CLF

Now the market can rally without me all the way on board.

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Today I decided to cover up and take the hit to my index trading account and walk away. Right now the volatility is creating moves that aren’t aligned with my daily and weekly timeframes. I can’t trade at Rydex comfortably right now and don’t want to risk the great profits I’ve gained so far this year, so I’m going to sit it out and wait for an opportunity to get short or long. It still looks like the next trending move is going to be down, but we never know how long it will churn upwards or sideways before that move gets started.

Lost 3.2% in the NDX today and lost 2% in the RUT…crap!

KWK dumped another 1.5% since I dropped it and SRS closed down 4% today.

The pink elephant in the room is that support line.

Still sticking with SRS here.

I gotta do another stock list soon as it looks like there is rotation happening out there. Take profits in the CLF and JRCC’s of the world since they were added to the watchlist on the left, they are up HUGE.

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I went into the longs heavily this morning and markets continued higher all day closing at the highs. For a very very brief moment in time after the market gapped higher the NDX went and filled its gap and went negative for a few ticks then it was off to the races. I saw this action as very bullish and I noted it yesterday in the post that yesterdays price action was bullish as well.

I hope you weren’t short going into today and if you were I’d like to hear why.

Today netted 3.4% for NDX and 5.2% for RUT. Very nice. Of course the morning purchases didn’t get the full frontal, but light long held from yesterday did. The fresh buys probably picked up about 3% in the RUT and 1%+ in the NDX.

I mentioned earlier today about a scalp trade in ANAD. I’m testing a new scalp strat out and this trade was good for 2%.

CROX did not move today. I’ve had several opportunities to get out of my options with 20-30% gain and didn’t take it. I wish I did though. The charts still say a break of the recent 2 day highs is coming.

I sold all of my CPST today and rebought ABAT. I think I forgot to post that I sold it a few days ago.

I sold my UWM position as well getting over 4%.

I’m still long, but I sold most of my index positions into this move to protect profits.

Tomorrow does look like a setup for more upside.

BTW did you see JOYG today? Damn……

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ACOR was fantastic. I profiled and bought it last week. The sucker popped 32% today. I sold all of my position in ACOR today. ACOR hit a new all time closing high today fwiw.

The biotech move though is not over yet.

Market dropped. I took a hit of around 2.5% on the NDX and 2% on the RUT. I added to my index longs today.

My server has been screwy today, you may have noticed big delays. I was getting a ton of hits due the ACOR call.

BTW CVI also has popped.

I bought CROX Jun 11 calls near the close for .25.

I bought UWM @ 53.79 and sold it @ 54.34 on an intraday basis today for a gain of close to 1%.

ABAT, ABP, CPST all were green today. Getting interested in DAR all over again.

If you noticed this site acting weird today its because I’ve been moving it to a new server since this morning and takes a while for the DNS cache at ISP’s around the world to refresh.

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I woke up this morning around 10am. Sometimes I skip the open, today was one. I looked at ESLR and see it down -7.5% and I said, “F$%k!” Dumped it and saved myself an extra 2% hit because it dropped 9.5% at the close. Only thing that sucked today.

The market indexes rocked though and I make a lot more money there. Today was great with 2% gain with the split RUT/NDX trade. I still am positioned long heavily. Expecting more up in the markets.

UWM was still working obviously with the RUT working and I held onto it.

HXM popped to a new high.

PHO hit a new high – I do not own it, but profiled it on Clean Green Stocks.

GILD popped nice today too for a new high – Without me on board.

Both KHD and CVI both were up today.

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Today’s action was depressing until the last 20 minutes when everything bounced.

Got back into CPST, but not to the degree the last time I bought. This is more like a 1/3.

ABAT – Was garbage today until afterhours it made a new high.

Of course after I sell EWZ (yesterday) the thing rallies 3% today. I wanted to get back in today, but I held back.

Bought: CPST, ESLR, and ACOR.

ESLR was supposed to make that stock list I posted a few days ago, but in an effort to trim my stock lists I left it off the post. However, it was still in my head and when I saw it go today I jumped on board.

Another stock that was on my initial screening that was left off the list was ADLR. However, I didn’t include it. I bought into ACOR today which did make the final list. Both look good, but ADLR looks like it can move immediately.

CPST looks ridiculous here.
The late rally saved the technical picture of the market. If it continues up tomorrow the up move is still on. I’m heavy long so thats where my head and money are.

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If you’re a bear, you are going think this post is noise. If you’re bullish on the market right now, these charts are going to look like gems.

As you can see in the charts, the 21 day exponential moving average is shown as support in all of these charts.

Today was a great day where the NDX pumped out a 3.5% gain and the RUT did 2.4%. UWM did a similar gain. The charts below show that the market was at crossroads, but the action today although not the final straw, was very positive price action to save the technical picture.

My USO short/oil short call started today oil cracked lower and now its becoming news about a trend that might be changing. This one could go on for weeks. USO puts were up around 8.5% today, but I just checked those June 105′s are only up 2% now. I think oil has more room to drop.

Bought ABAT today. Sold EWZ. EWZ is not acting well.

Still heavily positioned long and enjoying the bounce off support.

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The money I threw into the index longs yesterday was removed this morning for a decent gain. When the 3:55 started rolling around, I went back in with the cash I took off the table from the morning trade. I’m back into the NDX and RUT heavily. I’m not expecting fireworks tomorrow, but next week maybe upside breaks in the market will coincide with an oil drop and the US dollar strengthening. It will also mean an upside move in financials if this scenario plays out.

I went short the USO again with June 105 puts and sold STP today for a loss of 5%.

On another note nuclear stocks are turning up here. CCJ, URZ, USU, DNN

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Went short with the indexes this morning and it was a rough way to get to the finish line.

Markets blasted up and by the morning price time window rolled around the NDX was already up .50%. That was good for me to take a shot. However, the markets rallied even more. The Dow more than doubled and I thought my position was screwed.

Usually on days like this I just leave the computer, goto the gym, and let it be. When I got home, the Dow had chipped off about 40 pts from its highs and was still dropping. Better yet the indexes I was short had given back their full morning prices plus were negative. I was already up 1% at this point, but it got better. NDX continued the drop and I nailed about a 2% gain there + a RUT gain of around 1%. Sweet.

CPST – Rallied nicely up to 3.88 before settling at 3.71 up 6.9% today. I sold a little bit of my CPST in one account today. Taking in a 24% gain on that trim. CPST really has been my stock of 2008. I first profiled CPST at Clean Green Stocks on December 6th 2007 at 1.36

HXM – My Mexican homebuilder did well in an otherwise crappy tape. Made a new 52 week high today quietly.

EWZ – Tagged 100 bucks today.

I’ve been in and out of a short in the USO in the last week and I want to get back in. The refiners are starting to turn upwards here and the oil contingent is starting to turn down. A drop in crude oil prices may stabilize the US markets, cause a dollar drop, and spark MORE rallies in the “emerging markets.”

I like VLO, TSO, and FTO there.

Now if and when Oil does drop, the solar stocks are probably going to get slammed as well.

On the emerging markets, I love Mexico. EWW, HXM, CX gets it done. I might have to make a Mexico stock list.

My old buddy ABAT has been doing well lately. I want to get in on a pullback. AOB has also been acting very strong as of late too.

I cashed in my index trade at the eod and am going to be a morning buyer of weakness. I’m hoping for it to be bad.

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