CAT

Busy Night

I wanted to start the blog off this evening with my beta weighted income portfolio. Today I took profits on my GS long vertical up 7%. For the rest of my positions I will let them expire with positive theta. This week I will also be setting up my buy write positions and I will keep you posted on new trades for the month of Aug.

The chart below is of the SPY. The two red lines on the chart are support points that are very resilient and important to the bulls. A break of the two red lines would make me believe we were going to test the 38.2% at 84.31. It seems that we are getting a bounce off the 88.00/200 dma and could possibly see 91.50 as our next resistance point. That said we should be in this range through OPEX.

Below is one of my managed accounts that I trade for one of my investors, 2.5% for the month of July.

Managed Account

Beta Weighted

I took more profits yesterday, and this is the income portfolio as of Monday. Have a great weekend everyone, I'm headed to the woods to camp and do some fishing.

Ideas

Its about that time for Aug buy writes. July buy writes were great except for POT, news related casualty. I will start setting buy writes all next week.

First idea GS.

Camping

I thought I would keep you posted on one of my favorite things to do. Headed up for the weekend.

$SPX

Well today is the day, if your a technician you just got short this market. My short term target is $845, as of now I'm long SRS and short DIA, /TF and SPY. I still have long positions on that will be taken from me next week. OPEX is right around the corner and I have a lot of things that will expire worthless. Some of my positive theta trades are not looking good today, but I have probability on my side.

Dow

I normally don't care or even follow the Dow, but I decided to take a look and have a short term prediction for the DJ.

Round numbers in trading are very important, but this round number on the DJ will break. 38.2% $7956.77 is where i think we will test by or before the August EXPO. Over a longer term period I think $7,500 is a decent target.

Managed Account

I manage money and in one portfolio I only trade credit spreads on $RUT. So far we are up 5.5% for the month of July.

Drunk Russian Tank Driver

Taking Profits

I took profits this morning on a bear put spread on $RUT up 6.5%. I also added a porfolio hedge, I bought TWM and sold calls to hedge the hedge.

$RUT

My prediction is that the $RUT is going to test the 38.2% @ 462.25. We could see a test of this level be September or sooner.

Beta Weighted

I already took profits in MA vertical. This is the income weight portfolio, Monday more profits will be taken off.