I bought the DIA Aug calls for 2.03, I then cost based down during the worst of the Greek drama and rolled to September for 2.20.  Booked a $600 loss on the roll but the trade currently sits up $2600 so its up about 55% or $2000 profit in about 2 1/2 weeks.  I’ll look to exit if we break above 18100 or 18200 on the Dow.  That will likely happen early next week.  We have likely entered the familiar range bound market again…. This earnings season is going to be good, but fear of fed rate rise will keep things from breaking about 18,500 (if the range holds). If we break above that level it should be a nice run till the fed actually raises rates.

TWTR is holding above $35, still waiting on the new CEO or another acquisition rumor.  I’m going to sell on the next rumor if I catch it, the false rumor this week made the options double in a matter of hourse, that is the potential of this trade, feel good about it.

BABA was down to a $1.00 and I almost cost based it down but I missed my shot and it shot up .50 today.  Down a little on this, but should see a rally if we can get the china market stabilized.

VMEM finally found a bottom, and rallied off the bottom back up to 2.50.  Breaking under $2 was very very painful and I have now cost based down 5 times.  Yes 5 times.  My last time was at .30 cents and it traded at .50 cents today so I’m glad I stuck it out.  My cost base is .60 cents and I have an uncomfortably large position so I’ll be looking to edge out of this to a more reasonable amount as we close in on earnings release end of Aug.  I could really use some rumor to drive this up.

I still am dancing with an entry UCO, tried to fill twice today and no luck, I’m really trying not to overpay because I’d like to get in and out a few times on this trade.  We have bounced up and down but WTI is just about to break $50, one more down day and I should get my fill.

Last couple weeks were a test.  Got way down, now I’m right back 🙂  I’ll bank the DIA profit next week and if VMEM can edge up a little bit more I should be golden.

I rolled and cost based down my DIA till September at the low yesterday.  Which was a huge win for about two hours as the markets dropped from up 250 to up 50… 200 point drop in hours.  Crazy days.

Never filled my UCO but will as soon as we close back in on 50 wti.

Vmem is killing me.  Let’s not talk about it.  

My gut says Greece is going to get bailed out and China is going to be supported by the government and stabilize which will lead to a HUGE rally but it is tough to keep buying into this selloff.  But that is exactly what you have to do….   

I missed getting short on UCO by less than a dollar, I was looking for a break above $62 to enter a put on UCO.  It got to $61 and then fell and fell hard, oh well can’t get them all.  But this sell off seems a little overdone, If I can I’ll get long on UCO tomorrow and take profits on a short bounce.  I believe we could test around $45 again, but I’m not going to wait since everyone crowds into the trade on the long side every time we get below $50.  A lesson I’ve learned is that oil fundamentals (supply and demand) are only a small part of how it trades, we have speculation, more speculation and the dollar strength.

I’m still long DIA, I’m even after today’s small loss on the Dow.  I should really exit if we get any sort of rally but this market has so much upside going into earnings season I really want to stay long.

Vmem is killing me, new lows everyday.  I’m long into December and this will rally huge with any sort of decent number end of August when they report but this stock clearly has no floor….

TWTR looks good with a floor around $35, BABA is down but should hold $80