Today started out great. My $X calls were up 20%. I added more near the open two different times. Then I tried to sell them while being up 1k+, Ameritrade had some TOS/Website/API issues and I wasn’t able to sell. By the time the issues were resolved profit evaporated, but was still holding up. Then the market cracked lower FAST. I had to sell the X calls for a loss of -20%. Yep it was that big of a swing. All of this by 12:30pm.
I went back into the X calls at the close today because my original plan was based on a daily setup more than a 60min setup, but I often use the 60 for entry and exit when I’m playing short term.
xsteel

I posted this same chart on Friday. SPX made a range and if we closed above that range I was getting long. Well today we tested below and closed above. This is a very short term bullish scenario imo. With this information I went long $SPX, $RUT, $NDX in the index funds, MON Nov 70 calls, SSO, SSO Nov 34, and X dec 35 calls.
spxrange

monsanto

My mistakes today were the X calls – really though it was a mixture of Ameritrade’s and my own mistake because once the profit disappeared I went to watch some TV. I was looking at the daily chart on X as the main reason to be long X and when we broke I had to protect. It was a crazy day I think for everyone except people who specialize in scalping. The second mistake was buying SRS calls. I thought we were cracking down and I was looking at this setup for SRS:
srsfail

It didn’t work out. However, I want to buy SRS or other inverse real estate etf’s on up moves in the market this week.

Winners today:
JEC puts, RYL puts, AIG puts. All sold all winners.
aig

Even though these 3 were winners, they all recovered to form some version of reversal candlestick patterns.

I will sell any of these longs if profitable. I want to get short on an upmove in the market as long as the market does roll past those top side resistance numbers I mentioned. This could be what the market is in for.
spxd

If you want me to look at any symbols with my indicators just ask and I’ll post em.

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