4/25 Recap. We Finally Rolled Over.

We finally got that rollover I had been looking for since Friday when I put that big hedge on. That hedge really saved me today, right at the open I added another 100/100 to it and today it bailed me out by being up $68k. I’ll go over the rest of my book at the bottom as always.

That’s why I always tell you there is a time to be short, it’s not everyday, and you’re going to see it in the things like the MACD and the RSI sending out warning signs like I’ve been telling you the last few days. These dumps rarely just come out of left field. Will it hold or will Microsoft and Google reporting save the day? We will have to see but so far it isn’t looking good.

What you see below is a clear trend break on the SPY. The short term trend of the past month is broken, those repeated tests below the 8 ema I had been noting the last few sessions finally opened the floodgates to the weakness we saw today. That white line below is the October uptrend and that’s bulls last stand where they have to protect the market or we will go lower. Looking at the RSI now firmly pointed south at 50 and the first red MACD day in over a month, barring a stick save today from MSFT or GOOG. It appears that for the short term, this party is over for bulls.

Today’s Unusual Options Activity & What Stood Out

As you will notice, I do not mention or take every trade I post in here, they are unusual in their own way, but I don’t have the time to go through every one. Yesterday there were a few odd lots of UPS puts bought if you look back and today it was -9%. That’s why I try to wrap this up with 2 hours left in the day for the people who do wish to play names like that so they can have time to act before the following day.

125 Trades Today