#MarketTiming – this week’s up leg UPDATED

In Sunday’s post below it was said:

“Monday will be important but I’m going guess… The market is going to pop and take a leg up for at least a couple days this week.”

Got the pop. Got the couple of days up. Anyone sell the open today?

The market gaped on the overnight futures again but a turn-around-Tuesday did not another Monday make. Unlike Monday there was no follow through on the gap today. Although the bull-market-hope-to-be buyers made a game try to bring it back mid-day after the first slip and slide down, but the bear gave a little push with his paw to bring on a true turn-around Tuesday.

There were reversals all over the board.

That mid-day sway was rather nerve wracking for the 274 put that triggered on my SPY day-trading system but, all’s well that ends well. It finished with a 33% gain.

(click on the chart for a larger view)

As for the day itself…

Hmm…. That big black thing on the daily chart does not…well, that does not look good, but the NYMO and the NYSI continue to rise so there is still some hope for the bulls.

(click on the chart for a larger view)

#MarketTiming looking for a swing leg up…UPDATED.

This is a results update for this post yesterday:

#MarketTiming – looking for a swing leg up…

$SPY #Options – $DayTrading Calls 1/28

Haven’t posted the day trades in SPY calls and puts for quite a while but the strategy still holds – tight spreads, high liquidity, less time decay.

The trades are always the nearest expiration (Monday, Wednesday, Friday), the closest in-the-money (ITM) or at-the-money (ATM) strikes, and never hold overnight (it’s always a day trade). They are posted on Twitter to get the time stamps.

Today was a good day, and a good day to drop this post here.

LAST TWEET

(A note on the “added note” in this tweet for the reentry later in the day – it was up 16% at one time but pulled back and broke even at the close)

EXIT ON MAIN TRADE

TAKING PROFITS ON FIRST HALF

PUTTING ON A TRAILING STOP

INITIAL ENTRY -BEGINNING OF THE TRADE

$SPY #Options – Day trading calls 12/6

INITIAL ENTRY:

FIRST HALF PROFIT:

CLOSE OF THE DAY:



(Click on chart for a larger view)

$SPY #OPTIONS – Day trading calls on 11/25

ENTRY

FIRST PROFIT:

CLOSE OF DAY TRADE

$SPY #Options – Day trading puts 11/19

Initial Entry:



First Exit:

Breakeven Stop:

$SPY #Options – Day trading calls 11/01

INITIAL ENTRY:

FIRST PROFITS:

FINAL PROFITS – CLOSE OF DAY TRADE

(CLICK ON CHART FOR LARGER VIEW)

$SPY #Options – day trading calls 10/15

The market context for these trades is outlined in this post – #MarketTiming – the NYMO low above a low. It is in place.

ENTRY:

FIRST HALF PROFITS:

CLOSE OF TRADE:

All Twitter time stamps are Pacific time.

PLEASE NOTE: None of the entries in this blog should ever be construed as investment advice or trading recommendations. They are presented solely for entertainment and educational purposes, and to record trading activities for my own personal trading journal.

$SPY #Options – day trading calls 10/11

These trades are based on this strategy:

#Options – Buying Calls and Puts

And this context:

#MarketTiming – the NYMO low above a low

INITIAL ENTRY:

FIRST HALF PLUS 50%:

SECOND HALF CLOSE OF THE TRADE PLUS 46%:

All Twitter timestamps are Pacific time:

$SPY #Options – Day trading calls – 10/10

INITIAL ENTRY:

FIRST HALF OFF:

CLOSE OF DAY TRADE