My Life My Trade

After a 60 point move down in 4 days, SPX found support at 870 on Wednesday.

Pre-market is showing strength…

On wendesday, ES built up lot of volume in the 880-882 region. If the gap up is above that, then this region might act as support and we might get a trend-up day.

Dollar is weak again, pushing oil back up. Here are key resistance levels for some of the stocks and indexes that I follow. These are good points IMO to initiate a short position.

Be wary of today being a trend up day though. As for the move to the downside, I think a visit to 790-810 is in the order.

ES – 886, 900  (key resistance levels)
CME – 290 (previous swing lows)
ICE – bounce to 90 (major resistance). Next level is up at 105 – doubt if ICE gets that far
AAPL – gap fill at 140 (The gap at 142.50 may not get filled)
RIMM – 67.50-68
GS – 142.5 and then 145
Oil – 63 (trend line), 66 (50% retrace of move down)

Final average position cost after position management was $3.00 – 23% loss

BOT first batch here @ $3.90

DISCLAIMER: I own position in AAPL which is in significant loss, which could alter the way I think where AAPL is headed.

EDIT: I had mistakenly said that AAPL will gap down below $140. Someone in the comments pointed this out asking how and why did I think so. I meant to say $141.  I have added a 20day chart of AAPL that shows that $140.5 – $141.5 is a key level for AAPL. My thesis is a big gap down on Monday, which requires AAPL should open below this key level (AAPL being a big component of NQ).

Here are a bunch of charts with some annotation which should be self-explanatory. Some love shared right at the top of this page will be greatly appreciated

• AAPL Jul $135 puts @ $3.03 (avg) (purchased 06/25)
• BIDU Jul $270 puts @ $7.30 (purchased 06/25)
• FCX Jul $48 puts @ $2.15 (avg) (purchased 06/25)
• ICE Jul $110 puts @ $3.90 (purchased 06/25)
• OIH Jul $95 puts @ $2.76 (avg) (purchased 06/25)
• PALM Jul $13 puts @ $0.95 (purchased 06/25) – earnings play; small position
• IWM Jul $49 puts @ $1.05 (avg) (purchased 06/25)
• SPY Jul $89 puts @ $1.36 (avg) (purchased 06/25)

DISCLAIMER: Nothing contained anywhere on this site constitutes any investing advice or recommendation. Any purchases or sales of securities are solely at the discretion of the reader.

BOT today for $3.60 – 32.5% profit in 30 minutes (after commissions)

DISCLAIMER: Nothing contained anywhere on this site constitutes any investing advice or recommendation. Any purchases or sales of securities are solely at the discretion of the reader.

Swing trade. Will get out soon.