Volume

The two charts I posted are to illustrate the volume in the market. Regardless of the feeling on the street there is no real buying behind today or the majority of this rally.  As a spread trader I am not really concerned with being a bull or a bear, I just trade what the market gives me. Its just very hard to over look the engine of the market. 

GLD

Today I'm on the hunt for a bunch of buy write ideas. I going to look for at least 10 different ideas and pick the 2 that make the most sense. GLD buy write idea. 

RTH

Just to recap my thoughts last week I am re-posting the chart of RTH. Also today the SP's are at 09' highs and the $VIX is unchanged. My thoughts are profits are being taken. You don't move 35% from the March lows and not take profits. 

UNG

How low can nat gas go? 

UNG collar idea. 

$RUT

OK, new prediction for the $RUT.

New Positions

Today SP's are pushing into the 900 range which would leave the SP's at break even for the year. I have made some position adjustments today. I added an adjustment to the $OEX. I added the GS buy write idea. I also added a $RUT butterfly. 

GS

GS buy write idea for June. 

Beta Weighted Portfolio

Two weeks till OPEX.  This is the risk profile of my overall portfolio(spreads only). 

Classics

DBA

Break out or bull trap? In the seasonality of things corn, soybeans, wheat, sugar and coffee just to name a few tend to see weakness in the beginning of May till the middle of summer.  Now DBA is made up of corn futures, soybean futures, sugar futures and wheat futures. All the things that tend to have weakness around this time of year. But on this chart things look to be breaking out.  

Weekly Recap

Two more weeks till expiration. Here are a few of my trades that I currently have on. 

$RUT

My prediction on the $RUT. 

Coconuts

Market is showing more and more weakness. The over head supply seems to be getting too heavy for the bulls to handle.  The fact is if we are going to continue this rally into a new bull market we need to have some relief, pullback something. Based on yesterdays price action I see a SMALL shift in control. So watch out for the falling "coconuts".