No. I’ll see what happens this week, react, and make money. I added to my long position today. I didn’t post yesterday due to the happenings of Tropical Dud, Fay. I sold MATK yesterday with a loss of a few %. I did this as shot to buy a firework related play and its a bad time to try these puppies.

NDX and RUT both took dumps today over yesterday’s atrociousness. 2.4% and 3.2% for NDX and RUT.

I still have CALM and am holding that one.

I bought some MRVL today.

If we gap lower at the open, I’m going to guess thats the bottom for the week and I will be buying long leveraged etfs at that point.

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I was early with the short call last week, because today folks - its here. This is what I was trying to short for. However, now the market has puled back enough that I’m buying. I’ve bought the indexes this morning. You know ABC, from Glengary Glen Ross? Always Be Closing? I’m AFE. Always Fu$kn Early.

I also bought LOCM as one of those firework plays.
CPSL is moving my way today.

CALM is breaking higher. This one is going to be a big winner a fewmonths from now. Up 8%+ now. People like eggs.

FRPT - I sold @ a 7% loss today. The trade didn’t work I’m out.

I’m looking to buy anything and everything when the market is red.

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About time! However, the risk/reward was crappy and the gain matched that. Today the NDX gained .70% and the RUT did .26% whoooopeeeeeee. Overall I lost money this week attempting to short the trend. I said buy weakness and that is what I did today at the close. I’m now long the NDX and RUT via the leveraged funds and because many people read these posts and don’t look backwards, check this because I was long heavily all last week.

This is what I’m thinking in graphical form:

I also bought CPSL and FRPT as spec firework type plays for next week. CPSL actually sold off after I made my trade and in the end didn’t qualify at the close for certain parameters I was looking for, but I’ll see what happens next week. SPWR was on that list before the pop today.

Here are few others that are on the quick hit list:
PMI, CBRX, BZH, PLNR, RDN, ACCP, SWTX, OWW, MRCY, VC, FRPT, CTB, CEGE, JOSB, SNG, LOCM, VSCI

So I’m long NDX and RUT as well as some stocks.

I also made two intraday short trades with QID. One making money fading the morning surge which ended up being good for more than 1%. Then I bought QID again, but that trade lost less than 1%. The market acted very strange today.

These are swing trades:
CALM - Hit a new all time high today. Up 4%
MATK - After a big pb today its now down less than 1%.

I will be buying stocks and double etf’s aggressively on any weakness early next week. Some stocks might come from the watchlist on the side.

Some other swing trades I’m considering:
DELL (which I mentioned back here), PFE, PPH which is now 2 bucks higher, SBUX, MRVL, CSCO, RIMM, RT, CAKE, CPKI, and more.

Question about the MRVL cup and handle here. What is it going to take to make it official.

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I’m addicted to this short. I put it back on. I’m looking for the market to close in the red tomorrow. Today shocked me a little bit, but my individual stocks have done ok in this up move.

I actually mentioned on the morning posts when I sold out of my short (which happened to be a decent money saver for myself) that the “easy money was made last week.” This week has been great for two indexes, 3.8% in NDX and 5.4% in the RUT (these are double %’s). I achieved none of this by positioning incorrectly yesterday and then up into this morning. The SPX is down less than 1% for the week while the Dow is down 2% for the week. So right call, wrong index?

SPWR afterhours broke upwards which pisses me off which you might understand after reading this post. Same story on track, not holding long enough and powwww the big pop.

Still holding onto MATK and CALM. I’ll look to buy the weakness if it happens tomorrow, Monday, or Tuesday as well as looking for nice swing trade setups sometime tomorrow or Monday.

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Hey it might be for grandparents, but I love that Werthers.

I sold the LTS position. I’m getting nervous of the financials and that my sell this morning although was protective, looks like it was the wrong call. The market has sold off some due to the financials selling off their highs. 1.3% gain. Meanwhile HOGS has hit a new high on the day.

I may even try to short the indexes again. I’m a glutton for punishment. Seriously I have expectations a for downside move and damnit its going to happen. At least I hope it does.

Buy the weakness.

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I’m looking for pops and I decided to free up cash by moving to something that may move. I bought LTS. Now HOGS is moving, that might have been a mistake. Who knows? Both SNTS and HOGS had no reason for the sell other than me looking to get some instant gratification which is why I was in SNTS and HOGS to begin with.

MATK, CALM I still have and they continue to plow higher.

I flirted with buying DRI, RT, or CAKE or a combination of the 3, but decided to go with LTS for possibly a bigger pop.

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I’m out of any short position this morning. Hasn’t been a good trade. All with minor losses with 1% or less. Aside from Monday, which I was not short against, this week hasn’t been a great money maker for longs either. Last week was where the real money was made, the week I was actually long for. Sayonara to that short idea. Now the market can move down freely and I will buy it.

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I sold my TWM this morning for about 1% loss. I’m getting fed up with the short trade here. Maybe its a sign of a couple of things. I may cover the index funds as well, but we’ll see.

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It may bite me in the ass, but I’m waiting to get long. Till Friday to see if either tomorrow or Friday provides a down day that will make my shorts profitable. I’m bullish intermediate term, so I’m playing a high risk, arguably, low reward trade here. However, I still have confidence that it will occur.

Buying weakness this week has been my mantra, I said it 3 times: here, here, and here.

I’ll say it again. If tomorrow is weak, buy it, but I want to be really weak and I want it to CLOSE weak. That almost happened today, but we got a bullshit/skeptical rally. Again, most charts are bullish aside from a few sectors (financials). Goldman Sachs (GS) looks like it has a gap down in its near future.

Tomorrow we have WMT before the bell and CPI data. A couple of people on Fast Money tonight mentioned that they think there will be an overreaction by the market to the downside based on the CPI numbers showing inflationary pressure and the market may assume rate hike is closer, but that reaction will be wrong. This plays exactly into what I’m thinking in terms of an intraweek pullback, except I didn’t see the excuse for the weakness coming, I just know it comes. Macke recommended DOG or the inverse Dow etf tonight in his final trade (He’s on board). Without a doubt the Dow and SPX have been underperforming the the RUT and NDX. In fact, my short idea this week would be great if trading those two indices instead.

I’m looking for USO/OIL to make another move higher either tomorrow or Friday, preferably tomorrow.

With Oil and other commodities moving or bouncing higher, the solars have turned back up and rather quickly. I liked SPWR last week and stopped myself out of the trade, but I’d like to be a buyer of it again.

So today’s add on to my shorts was incorrect and turned out to be a loser for more than 1% loss. Plus the shorts I had from yesterday were down today based on the higher daily close in the RUT and NDX albeit marginally higher (.37% RUT) and (.05% NDX) - big deal.

CALM - still ticked higher today working on another all time high.

MATK - new 52 week high today. Goes with the buy biotech on weakness theme I mentioned a few months ago, then a few times per month leading into August.

EFU - Sold EFU today with a 3.6% gain getting out @ 102.42. Now EFU might have a slight selloff due to the US dollar pulling back after its enormous move, but again, in the coming weeks if the US dollar rallies, EFU should break its all time high (very close now). Same idea as above, buy the weakness. You are seeing it on tv now, “Bullish on America” headlines. This is due to the dollar rallying, emerging markets becoming riskier, etc. etc. This is the reason US markets are rallying and will continue to rally. However, the dollar is ready for a two day pullback and that was signaled by the commodities taking off today, and what may be coming tomorrow off the econ data. We’ll see though I’m just guessing afterall.

HOGS and SNTS holding up. BTW restaurant stocks sold off a little today. They are running in tandem with the dollar. The dollar pulls back so do they.

Here are two extremely biased charts that support my hopeful position for tomorrow.

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I don’t know what is causing this move, but I’m hanging on to my shorts - heavily now.

I mentioned a few days ago that the XLF chart is shaping up. As of today that chart is broken. There is still hope, but it needs to pull back some still and that might be the reason for a general market selloff. Plus commodities and oil bouncing off their crap lows can possibly get that going as well.

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Market is moving my way again - down. I added to shorts this morning in the index funds, bringing my “medium” position up to “heavy.” However, I did not purchase more ETF’s due to me being away from the computer playing Wii with my son. I do have the TWM position already from yesterday. I went heavy and am hoping for better, er, lower prices at the close. Currently looking at about 1.9% in both NDX and RUT. While Dow is performing the best to the downside. I want to buy weakness, I’ve been saying it ahead of this downdraft. However, I just may wait till Friday in case things get worse.

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It wasn’t a week ago that the dry shipping stocks got crushed and appeared to be breaking down to move even lower. However, this week, and mostly because of today’s price action, all of these stocks are moving higher in a large way.

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It wasn’t a good trade, but it was a nice profit. EFU is breaking out and I sold into the breakout like a shmuck. I think its going a lot higher, but I have the patience of a hamster on viagra. I may buy it back. However, I’m still holding my watchlist picks of HOGS, SNTS (not on watchlist), CALM (I bought more today), MATK (Martek Biosciences - gotta love that DHA Omega-3), and still short the general market with RUT and NDX which ARE DOING NOTHING THIS MORNING when the Dow is down -100!!! Very annoying.

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I’ve been saying it for days now, that I want to buy weakness in the market for a long trade and therefore I went short with expectations of weakness to happen. That started to happen today. The RUT finished down .81% or 1.6% if your a double head. The NDX finished flat - booo.

Things that worked:
Being short. I stayed short, but took off the addition I made to the index funds to lower my exposure. There may be a bigger move to the downside tomorrow or the next than what happened today.

SKF - In @ 116.56 Out @ 120.69
EFU - In @ 98.84
HOGS - Added to my position today, up 2%

Things that didn’t:
TWM - Bought it near the peak of the day. Down about 1%
CALM - Down less than 1%
MATK - Up 1.3% despite the loss of a few cents.
SNTS - Added to it today and lost a few pennies, but I’m in it for than today’s action.

My TWM buy is down about -1.2% due to egregious pricing of the double etf’s sometimes.

I’m waiting for the market to come down a little more than I want to buy it agressively. I like the chart on MRVL btw.

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I mentioned yesterday that I went short with a “medium” position. This morning I’ve added to the index funds in the RUT only. I also bought TWM and EFU (2x inverse MSCI etf). The EFU is a play on the strengthening dollar. If the US dollar strengthens, the emerging markets will go down. The weak US dollar was the primary reason for the emerging market trade during the runup. That trade has reversed very badly. EFU has the potential for a breakout in the next week or so as does the US dollar.

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