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29
Oct
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Follow me on twitter: korenidan87
3:48pm
Market pushed away from wedge resistance.. RIGHT on point… so now we can start moving stops to the double top area.
2:46pm
Taking a nice short SPY here at 106.60 with a stop at $107.10 for now…
2:40pm
106.77 on the SPY is where i see the 200 SMA 60 minute and the wedge resistance colliding… i like that as a possible short intraday play.
2:24pm
Technically speaking.. the XLF is forming a potential H&S on the 60 minute. That said, even if it is forming this bearish pattern, it’s right shoulder can possibly be much much bigger…
2:15pm
If you want to short the market.. this is the place to short.. with a stop up above. The bears are still holding to wedge prior support now resistance.
12:49pm
We are right now at the wedge resistance area…still 0.1-0.3% away. But the market has had a very bullish day (as we expected) and even though shorting here might be a good trade, make sure you have a stop because the bulls can technically continue this market rally. BIDU to me looks like a better short.
12:33am
We have GDP numbers coming up tomorrow, I believe these GDP numbers will be better than expected, and might help us bounce. A fall on these numbers would do a lot more damage, because we sit on some megaphone/channel type of pattern on the SPX.. and the Dow is also very close to support on it’s own megaphone. Take a look at the SPX 120 minute, you can see we sit on support and could rise to retest 1051 as resistance. As a bear, you should be shorting at 1051, with a tight stop, and at 1061 or wedge resistance at 1065. Breaking back into the wedge will turn me into a short term bull again:
Starbucks (SBUX) although is still overbought is no longer worth shorting (unless you are in the position already) .. we might see some a small bounce begin sometime tomorrow. If we get a 2-3% bounce in the next few days, you can short it again.
AMZN november short 120 calls (Sold for around 5.90 a contract on average)… I still think AMZN is not going to hold these levels… BIDU managed to retrace a nice 50% of it’s fall.. i went short this name at 395.50 today.. but i have a stop right overhead (398.50$) and will look to get short at 405 if i get stopped out.
GOOG short november 580 calls… well this trade was just perfect, the chance of us getting to 580 now by OPEX is very small (sold for 4.80 contract)
I have some other small positions that are very insignificant like Short CERN which I recommended at 83$ but I only took less than 0.5% of a position (obviously went very well)… but i will update you guys on all positions that I see starting to show up as we might be starting P3 here, things are still very very overbought, and I don’t see any VERY oversold stocks (not on the oversold list yet).
Idan – Any thoughts on JPM and FAZ?
Thanks
October 29th, 2009 at 2:26 am
As you remember in my video, after JPM reported and was at 47.50… i laughed and said this is unsustainable and i expect a move to 41$… well that’s still the potential move for a megaphone formation support, although we might see a bounce before we reach that level…
FAZ, like JPM has still room for continuation… I see faz building a nice invese H&S formation with a neckline at 24$…. I still think it’s a buy on the medium term.. on the short term.. i’d buy it on a dip around the low 22s… but i’ll announce a position when i do have it long.
October 29th, 2009 at 2:56 am
Agree on all counts. Good call as always Idan. I went from 50% short to 100% short first thing Monday morning, and may stay this way for quite a while, including what may be a good one day dead cat bounce in the next week.
Any ideas on exactly how this will effect the USD? In any event, getting a lot of buzz out there tonight.
Saudis drop WTI oil contract:
http://newsusa.myfeedportal.com/viewarticle.php?articleid=459
I begin the day with 4000 QID, 1000 UCO, and 300 FAS (I picked it up @ 69.50 in the AH yesterday and posted it on the intraday right afterwards). The UCO and FAS are short term plays that I hope to close today if they show any strength. I’ll also be quick to dump them on any weakness. The QID is a longer term hold. Best of luck to all today!
October 29th, 2009 at 8:36 am
the plan is playing out perfectly so far in the premarket
October 29th, 2009 at 8:42 am
4000 QID down 0.35$ in premarket = ($1400)
1000 UCO up $0.35 in premarket = $350
300 FAS up 2.26 in premarket 8:42 = $678
====================
net loss ($372).
Not sure how your ‘ahead’.
October 29th, 2009 at 8:50 am
Well, if you read my post more carefully, you would see that I’m only trying to get ahead on UCO and FAS today since they are shorter term holds. I entered them both yesterday thinking we would see a bounce today. The QID is a longer term hold (as I also mentioned) so I am less concerned about what it does in the short term. Also, I had the QID position coming into this week and as of the close yesterday @ 23.72, it had increased almost 7300 since the close on Friday so I don’t really care if it pulls back some today.
But thanks for your careful analysis.
October 29th, 2009 at 9:06 am
Actually, here is a list of my trades for the week (all posted here in real time):
I entered the week with 4000 QID, 4000 SCO, and 2000 SKF
closed SKF on 10/26 for a profit of 600
bought FAS on 10/26 and stopped out on 10/27 for a loss of 400
bought SDS on 10/27 and sold on 10/28 for a profit of 650
closed SCO on 10/28 for a profit of 1800
bought UCO on 10/28 (up nicely in the premarket right now)
bought FAS on 10/28 (up nicely in the premarket right now)
QID position up a number of thousands of dollars for the week even with a pullback today
October 29th, 2009 at 9:17 am
Its ok morris, those of us that think and follow have to admit that your trades
have been effective if not perfect.
Zee shorts small illiquid small float issues. Need i say any more?
Holding calls on FAZ and SDS for the past week. Up nice but that can be
swept away in a strong upmove. I suspect that the am rally will be short in
nature, professional sellers want to distrubute and close out year now before
something in iran or pakistan kills the miracle rally.
Rallies die on good news. Careful playing the long side here!!!
October 29th, 2009 at 9:30 am
Oh, I was just clearing up some things for Zee since he seemed to be confused about my strategy and for some reason felt it was necessary to take time out of his morning to go through the calculations so he could post that I was actually down overall for the day.
October 29th, 2009 at 9:51 am
Morris,
I am just surprised when members take that much time to show how some one is WRONG
..
You have been great in sharing your entry and exits unlike many.
If more people share their trading entries and exits then this site will have a lot of followers.
October 29th, 2009 at 10:04 am
Right, it was pretty rude but I’m getting used to it.
Idan,
You and Woo nailed this decline. Where are the nay sayers that called you a moron last week? Thank you both for quality TA.
I remain prepared for a potential short squeeze. Sitting on a nice profit right now so I can ride it out without letting emotion get in my way. If the GDP beats it will especially be bad. Going to tighten my stop on MWN but as I have stated long term I am short and will stay short until price action tells me to get out and get long.
October 29th, 2009 at 8:17 am
“Trade the trend” was the bull’s motto for the last 7 months. I believe based on breadth, volume and price action that the trend is now DOWN.
So… trade the trend. If the market rips upward toward 1060 consider it a selling opportunity, 1070’s, consider it an early Christmas gift.
October 29th, 2009 at 9:52 am
Not so fast Romeo
Expect to see 1020 print fairly quickly…don’t fall into the trap of “this is just another buy-the-dips opp”…the boy crying out wolf has finally spoken to truth. the real wolf is here! be short and be strong and ride the back of the wolf while it devours the bulls! loaded up on dec puts…
October 29th, 2009 at 8:48 am
Man you got some balls. I hope your atleast hedged..
In the past 24 years, the market never bottoms out in December.
The statistical probability of a huge sell-off happening in December is VERY LOW.
I trade probability.. not only are we making a very big bottom on November 3rd, but we are also making a very big top December 30, 2009 with the 3-month top..
The only way I see a sell off, is if the major swing low, which is 985, is broken, then the bear has begun. Until then, be short, but take profits.
If you don’t believe me, pull up a 25-year chart of the DJIA, rarely do any sell-offs at all happen in november/december.. they happen aug-oct.
I went long yesterday.. because I don’t care if we fall another 20 points.. i’m holding my stocks until december.. Trade with historical facts.. not with emotion.
GLTAS & GLTAL.
Data:
September 1986 Low
August 1987 LOW
August 1988 Low
October 1989 Low
October 1990 Low
November 1991 Low
September 1992 Low [peak of 1-2-and 3 year cycle]
September 1993 Low
October 1994 Low
August 1995 Low
September 1996 Low
October 1997 Low
september 1998 Low
October 1999 Low
September 2000 High
September 2001 Low
Octobober 2002 Low
October 2003 Low
October 2004 Low [Peak of 1-2-year & 3 year cycle] 400 SPX
October 2005 Low
October 2006 High
October 2007 Major High
October 2008 Low
October 2009 High October 1st.
October 2009 Low theoretical = Oct 25.
October 29th, 2009 at 9:03 am
this is what the person i have a subscription to says also, but i he also doesn’t go long in a bear market and we have had a big rally, i would just use tight stops and small positions to go longs.
October 29th, 2009 at 9:29 am
Zee, What are some of your long plays???
Thanks, E
Denninger throws some cold water on today’s GDP report:
http://market-ticker.denninger.net/
“You can’t expect the cheerleaders on CNBC to read beyond the headline numbers, and they (once again) did not disappoint in this regard. The first 20 minutes of “analysis” brought not one mention of the decease in personal income or disposable personal income, yet on a forward basis this is in fact the most important piece of information in the report.
“You cannot have an economic recovery when on a q/o/q basis real disposable income is contracting at a 7.4% annual rate and worse, the spread between nominal and real income is widening, indicating that mandatory purchases such a food, energy and health care – are increasing.”
Are we setup for another short squeeze. It looks scary. FAS up 5% in pre
October 29th, 2009 at 9:14 am
They are going to open above 1051
October 29th, 2009 at 9:15 am
Will try my luck shoring at 1061
thx zee. i would go long only for a hedge though…happy to miss the rally if it comes.
i’ve made 50% profit in pre-market… options call’s
where do we go now…. ?
October 29th, 2009 at 9:43 am
I have a feeling we will get some hints closer to the 10-10:30 timeframe, when the big money comes to play.
October 29th, 2009 at 9:48 am
idan, thoughts on the financials for a bounce???
holding some GS for a bounce. its at the bottom of the Bollinger
looking to roll it over into V…it’s at the top of the band.
thanks
October 29th, 2009 at 1:29 pm
Bounce was warranted….. we might still move higher ..
Hmm, we didn’t get the short-covering that I expected this morning on great GDP news. Bears are hanging in there.
October 29th, 2009 at 10:01 am
Give it a few, most stops are probably just above 1052 SPX. I am long and watching for the 1061-1062 area. Above this it goes higher.
October 29th, 2009 at 10:23 am
Yep, kicked in at about 10am EST.
will likely close FAS @ 73.50 if we get there (although it could easily run higher)
October 29th, 2009 at 10:08 am
great call on FAS and UCO
October 29th, 2009 at 10:11 am
Thanks! Since you are the UCO king, what is your short term target?
October 29th, 2009 at 10:14 am
I am a king without a kingdom
I am expecting it to take out or be close to the previous high of 14.90. I am going to sell my UCO around 14.80 or if I get bold I will try to trail it when it is around that number.
October 29th, 2009 at 10:17 am
Hey man, thanks for the defense in the earlier post. It is appreciated!
Sold all UCO @14.00 (bought @13.36 yesterday). GL.
October 29th, 2009 at 10:15 am
I’ll take about 4.8% in one day anytime!
October 29th, 2009 at 10:21 am
Absolutely. Any profits are good
Good luck to you!
i know… market as no memory… but this look’s like Monday…
1054 is the top… for the day…
October 29th, 2009 at 10:24 am
Naa..wait till all the stops are taken out and shorts cover. I think short covering will be furious this time around since shorts were trapped way too many times in the recent past.
out of FAS @ 73.50 (up 5.76% from my entry @ 69.50 yesterday); + $1200.00
October 29th, 2009 at 10:23 am
ouch, got out too early!
Picked up some USEG for a swing trade so far up 0.25 oil seems to be rebounding
woohoo! my chart is looking nice. my calls from yesterday are sitting pretty.
October 29th, 2009 at 10:29 am
needs to cross north of 1058 and then 1060
October 29th, 2009 at 10:30 am
Hanging in til at least 1061 or 1062 here Woo, might only cover half
October 29th, 2009 at 10:36 am
woo,you see any possibility of 1120 anymore?
October 29th, 2009 at 10:51 am
still possible.
is this a drop or just a flag…?
Hi Guys,
So far so good my picks. Yesterday I suggested 02 laggards in case of any rebound (post #22 October 28, 2009 at 11:58 am): AET (+6.44%) and VRX (1.1%). Nice profits with my PUTs today
Later I will provide others.
Trade wisely & have fun
I was extremely busy at work yesterday and didn’t have a chance to execute any of my strategies the entire day yesterday, but it turned out to be a blessing
.
My account is now up more than $50,000 since I shorted on October 19. Had I held on to all of my shorts, I would be up even more now. I am going to close my short positions soon (by Monday) for a nice profit.
I have a turn date like zee’s November 3 time frame, but where it goes after that I have no clear idea. My criteria for going short again will be SPX dropping below 1020 (ideally below 1014) by November 3 and go up to 1040 and get stopped there by November 10. If we get that then perhaps we’ll start a scary drop into Black Friday. This is all speculation for now, once I gather more data I will know.
October 29th, 2009 at 10:49 am
That is awesome! Always on the lookout for your posts.
October 29th, 2009 at 11:07 am
Fritz what’s up with date “I have a turn date like zee’s November 3 time frame” is there anything we need to know? thanks
October 29th, 2009 at 11:31 am
Even if the market was to drop, do you really think it’s going to drop in a straight line? Large drops like this need some time to sort out, and quite frankly it dropped too much and too fast as of yesterday’s close. A bounce was expected. If this will really turn out to be my 10% decline minimum, then it will also have reached its target by November 3 +/- 1 day.
Bottom line is, the closer we get to November 3, the more nervous I would be holding unhedged shorts. I will in fact contemplate picking up some calls as long as DOW 9430 and SPX 1015 hold. Now short interest is high, as my broker had trouble locating shares to be borrowed, which makes me nervous, too.
October 29th, 2009 at 1:06 pm
Which stocks are you looking at for Calls ?
Thanks for sharing your insight
I am looking for somthing like VIX for each stock. Does anybody know if we have a volatility index for each stock, if yes where can I see them?
will likely close UCO around 14.00 if it gets there again today
Today is the last POMO day. Bears around the world are rejoicing!
October 29th, 2009 at 11:07 am
What is POMO?
October 29th, 2009 at 11:27 am
Fed Reserve’s Permanent Open Market Operations…. general acronym for the Treasury buy-backs ($300b worth) for the past few months. The Fed gives a bunch of money in exchange for Treasuries, and those broker-dealers who get the money usually end up bidding up stocks.
slight crack of trend line to the north side.
October 29th, 2009 at 11:06 am
Woo 1120?
October 29th, 2009 at 11:08 am
still possible.
trend line backtest.
blast through 1060 or stall and head back down???
woo.. do you still have your call’s from yesterday…?
October 29th, 2009 at 11:20 am
yup! =) my long term trend line from december held nicely.
a fib broke to hit it, but that’s usually what happens. so far up a really good amount.
October 29th, 2009 at 11:31 am
yesterday… i get burned… because i made call’s too soon…
i lose all the money i’ve made from Monday put’s…
yesterday… i did’t think strait… ( realy bad day )
i senses tell me i should go all short ( put’s ) rigth now… but maybe i’m beting to emotional…
October 29th, 2009 at 11:35 am
my trading partner sold early, and made another daytrade in the morning that was bad, then he lost another huge amount with online poker because he was emotional from earlier stock trading haha. be careful with emotions, they make a big difference on reading charts, and especially getting in and out of trades…
remember you don’t have to trade everyday. some days it’s okay to just miss out to make better decisions another day.
October 29th, 2009 at 11:44 am
yeap…! thanks woo…
Tuesday i’ve made… 5.5K€, and i stop because i did’t want my bad trades because of my joy… yesterday i lost 7.5k€… now i 0nly have 1.000€ to trade…
anyone here still holding to thier short on AMZN? I feel like a fool holding it since 110 and hoping for it to give back little bit so i can cut my losses to half
October 29th, 2009 at 11:12 am
if you’re not margined…hang on..its got a huge gap to fill on the way down..all gaps fill..eventually
October 29th, 2009 at 11:16 am
margined wont be an issue for now, but problem is i am 80% maxout and unable to trade… If my stop had executed at 112 i would have been much better off.. could have make alot from shoritng AXP, GG and UYM as that’s what I mostly play
October 29th, 2009 at 11:44 am
That’s not true, gaps don’t always fill. You can pull up many charts to show gaps that never fill. Even AMZN, yes – check 30-Jan-09 when AMZN opened at $57.36 gap up the previous day’s close of $50
October 29th, 2009 at 11:25 am
I’m holding short my vertical Nov 120-125 spread, but since the losses are limited, I have no intention of bailing until the last day and then I would promote the spread to December on a loss,
1056.4 is now fib and trend line support.
October 29th, 2009 at 11:19 am
spoke too soon. another trend line slightly below that was defended. bulls just can’t catch a break. good fight from both sides.
out of UCO @ 14.10 (up 4.44% from my entry @ 13.50 yesterday); + $600.00
October 29th, 2009 at 11:37 am
12 for 13 now on UCO/SCO trades since early August; + $25170.00 in profits (neglecting trading fees)
taking a break now for a few hours; best of luck to all!
October 29th, 2009 at 11:38 am
darn it, closed this one a bit early too!
October 29th, 2009 at 11:41 am
Relax, a profit is a profit.
October 29th, 2009 at 12:03 pm
USO has a lot of resistance in this area till 40.90 … after that a good ride to 42 …. so you did good
October 29th, 2009 at 12:17 pm
The way UCO is going..it may get to 14.90 today
will get out of it does
October 29th, 2009 at 12:23 pm
Yes – looking good … want USO to break 40.90 cleanly and will avg down my position …
October 29th, 2009 at 12:31 pm
Great head fake by the dollar I think.. Pundits were saving that every one was short the dollar and they will get squeezed.
If what they say is true then the joke is on me
1056.4 is a fib and already has a peak set there because of the avgs. it can just drop here if it wants to, maybe to the 1051 area.
October 29th, 2009 at 12:06 pm
1056.4 held.
i’m hoping i can get out of my calls at 1060 minimum, let’s see how the rest of the day goes. decay is hurting though lol.
Woo – if we did not get in yesterday, then is a break of 1062 a good point to enter for a swing trade ?
October 29th, 2009 at 12:10 pm
i’m currently getting a lot of resistance in this 1058 area. 200ma 5 minute is coming down around here…a weak fib…and a trend line.
not exactly sure if i’ll enter a trade till maybe near closing..
might consider getting out of my call position here and lock in my profits.
we’ll see how the 1058 area hits first
October 29th, 2009 at 12:14 pm
there’s a slight gap up possibility if 1058 is broken…
hoping for that, but fine with getting out earlier.
October 29th, 2009 at 12:24 pm
OK – will wait for your sign
I say SPX closes at 1055 (ish) tomorrow to post a massive DOJI on the monthly chart. Sets up a nice reversal candle going into November.
1058… :S
1058.7 is 200ma 5 minute
October 29th, 2009 at 12:26 pm
200ma break. above trend line slightly. above fib…if it stays around here, we could see that gap up…
October 29th, 2009 at 12:27 pm
now hopeflly we gap up at 1060 area, instead of creating a resistance point.
October 29th, 2009 at 12:28 pm
gap up would take us to 1065-1068 area.
Holy crap, look at UCO go!
October 29th, 2009 at 12:31 pm
Come to papa
October 29th, 2009 at 12:33 pm
I broke the 200DMA on the upside…
October 29th, 2009 at 12:33 pm
JON is a strong man. he breaks resistances himself. good times!
October 29th, 2009 at 12:37 pm
LOL…..funny how a single letter can change the meaning
Every one should make money bear or bull. Its about time a retail trader with all the goodies at his disposal can atleast swim in the right direction..
Funny how “green” on the screen makes your day so much worhtwile
I just exited all longs and shorted with SPY 106’s. I might be a tad early but will add if we hit 106.95
http://www.youtube.com/watch?v=sogKUx_q7ig
October 29th, 2009 at 12:43 pm
alright enough joking around…
1060.9 is the fib to watch. we’ve already broken it be a good amount.
above a lot of support currently. let’s see how this 1060.9 reacts. still leanings towards a possible gap up…
Heard a pundit say yesterday to watch AAPL for market direction. Interesting to see that AAPL is not participating in today’s post-10 o’clock rally.
October 29th, 2009 at 12:46 pm
http://social.stocktock.com/photo/wooaapl-1?context=user
this is why. it’s hitting long term trend line resistance.
October 29th, 2009 at 12:47 pm
This rally is for the beaten down stocks….look at C up 18%
hit trend line at 1062.5 area…
October 29th, 2009 at 12:56 pm
1062 area is also the 38% retrace of one of the drops.
i’m going short…@ 1062… i get out ( stop ) 1065… hope we don’t get there with market ending @ 1054
my stop is below 1060.9 to lock in nice profits.
if we drop below 1060.9, we’ll probably head straight to 1058ish. there is support there, so i’m not sure if it will break south of 1058.
Shorted JPM @ $43.91, rising wedge on 5 min going back to yesterday, and 38.2% retrace of drop from $46.195 to $42.5
Got out of FAZ and SDS calls this morning, got ripped on the spread but glad i did a buck
ago.
bought IOC (my proxy for oil nat gas levered play) and went long TKO.TO at 2.91
I say we rip higher now, looks like the goldman info yesterday was to draw in shorts for the
squeeze? Still bothers me that the past week has shown heavy institutional selling or
distribution.
We are headed to dow 10,500 easy. Will try to rally over 10K for end of month as usual/
October 29th, 2009 at 1:45 pm
Studies have shown, in the book Technical Analysis for Financial Professionals, that instituional sellers time the turn date in the market 6 months late.
If GSemployees was selling, I’d be concerned, however if a Cadbury Ceo were selling his shares, what does he know about the stock market.. probably just as much as you and I.
October 29th, 2009 at 1:45 pm
opss I meant that they are 6 months too early to sell.
Wow, FAS and UCO are just going bonkers. I should have held (and I hope some people here did).
October 29th, 2009 at 1:33 pm
yeah. yesterday i mentioned fas had strong fib and trend line support. not sure if anyone was paying attention though. also mentioned wfc, xlf, erx, all being at support areas.
October 29th, 2009 at 1:35 pm
I had a doctor appointment this morning, otherwise I would have held a little longer. Anyway, I am still happy not getting stopped out in this trade and made some profits
1000 SCO @ 12.75
October 29th, 2009 at 1:33 pm
Going short oil now ??? you don’t think oil can rally into tomorrow.?
October 29th, 2009 at 1:35 pm
ppt might want oil to rally to make things look good for the ppi date next month.
October 29th, 2009 at 1:41 pm
oooooh the ppt comment
October 29th, 2009 at 1:37 pm
We’ll see what happens. i could be wrong.
October 29th, 2009 at 1:41 pm
Come on Morris
AMZN cracking…
October 29th, 2009 at 1:34 pm
as is VISA
October 29th, 2009 at 1:37 pm
If 1 minute RSI hits 70 on AMZN at any point today I’m buying more PUTS…This stock will trade to 118 before EOD friday.
October 29th, 2009 at 1:40 pm
I hope you are right. I have some AMZN puts
October 29th, 2009 at 1:50 pm
our prayers on your side
can’t wait to see it tanking……..
1062.8 trend line and fib. will it hold? double resistance…
October 29th, 2009 at 1:41 pm
if it doesnt we could be going to 1120?
October 29th, 2009 at 1:46 pm
maybe. 1065 short term. that’s a better area to consolidate and have a peak. wouldn’t be surprised if we headed towards there before EOD. but a fall is fine too.
i’ll either sell between the 1060.9-1062.8 area before EOD, or around 1065. i don’t think i’ll hold anything into tomorrow.
then i’ll look for a better call entry position tomorrow.
October 29th, 2009 at 1:45 pm
Woo…just an educational question. Whats a clean break?
October 29th, 2009 at 1:49 pm
depends on which chart you’re looking at. longer term charts can break and avg back. shorter term don’t have as much room to move around.
sometimes i’ll use candlestick charts, and if the candlestick wick is slightly below, but the candlestick body is above, then that is okay.
Woo, Whats your take on today’s move? Is it impulsive? Do you see going higer high?
October 29th, 2009 at 1:42 pm
so far i see it going higher overall. nothing to say the market has turned bear. not yet at least.
but it doesn’t mean that it will head higher immediately.
the trend line that was defended, shouldn’t be hit anymore.
October 29th, 2009 at 1:44 pm
if 1045 breaks from this point forward. i woudl consider a possible bear market. but not until then.
October 29th, 2009 at 1:46 pm
Thnx
Since the rally began in March, excessively one-sided bearish breadth
ratios tend to signal the end of a decline, not the beginning.
This is inclining me to stay long, I got rid of my shorts late yesterday and I’ve added to my gold positions this morning. UUP should hit $22.40 in the next few days as it’s very overbought.
i’m beginning to write calls here……