I’m sorry for the late posts but things have been pretty busy in my personal life. I know that’s no excuse when it comes to making money, but I don’t need (or want) to be required to be in front of my computer all day trading. I’d prefer to swing it and spend my days earning more money in other areas. Anyways…
I’ve posted me trend criteria a few times the past few months. Where does the markets stand?
For the most part the markets are still bullish but the Russell 2000 ($IWM) is showing weakness. Overall, I am expecting the markets are due for a pullback and I want to be well-prepared for that. Through earning season, I was stopped out of many strong, long plays and that causes me some concern. When the market’s strongest correct or reject a strong earnings report, I worry. Thanks goodness for tight stops!
In the meantime, I’ve been playing some sh*tty stocks on the downside. I’ve been buy puts on some very weak companies or those in troubling sectors. I haven’t needed to play a ton of cash, but enough to build an account with house money. Some of my recent short plays are/have been: $GE, $IMAX, $SEAS, $BBBY and $CHS.
I killed it with the $GE puts… sold half for a 462% profits, then the other half for 300% profit. I used those profits to score some December 22 Calls for $.05. I sold the remaining $GE puts for a 300% profits…then bought some calls to protect the bullish movement after the investors meeting. Yeehaw!
Keep an eye on Twitter of you want to the latest new and feed. Am I on InvestFeed? No, its now a crypto-currency club now and no-one wants to hear about stocks. See you around! – Eric