Red

I almost forgot about this fake print of the wilshire index, that I picked up from someone else back on March 8th area (I think?). Not that I think we are headed there Monday of course, but I just wanted to put it out here for all to see…

http://reddragonleo.com/wp-content/uploads/2010…

Well, it seemed weird he was on a video, and was rather undressed. Felt awkward watching it. After a while (several hours — I'm slow) I realized he was trying to say he lost his shirt.

I hope the whole thing was meant to be funny, and not his real situation.

Well… that's good. I made a nice profit on my put spread, as I closed it out today at the fake print of 109.65 spy. But, as you know, I was working yesterday and missed out on getting out at the low.

But, cash is a safe position, and making some profit and not making all the profit… is still better then losing your ass! Did you watch that video of that guy on youtube I posted earlier this morning?

Man, that guy lost is all! You got to feel sorry for him. But, when they decide to kill all the bulls, they don't use rifle… they use grenades!

Monday will be another day I guess… Let's see if they give us a chance to get short, before they take it down to 105.00 spy again.

I'm in cash like you, Red, so the weekend will be easy.

The $RUT, $RVX & $RUT:$RVX charts seem to be signally doomsday for Monday. Should be a fun week next week.

Hope you did well today Earl… Have a great weekend.

The Daily view from Americanbulls

TNA was a Wait for today, was down today, and has a Wait signal again for tomorrow.

TZA was a Hold today, was up today, and is a Hold for tomorrow. The TZA buy price was $5.54. TZA closed today at $7.60, up 37.2% since the buy.

Of the stocks & ETFs I follow, only these are to hold on to:
RWM(-1x $RUT), TWM(-2x $RUT), TZA(-3x $RUT), GLD (gold), SLV(silver)

The list to avoid:
IWM (1x $RUT), UWM (2x $RUT), TNA (3x $RUT) , IYR(1x RE), URE(2x RE), DRN(3x RE), USO(oil), UCO(2x Oil), ERX(3x energy), AAPL, AMZN, DRI, GOOG, DIA, SPY, QQQQ, EWG(Germany), EWU(England)

The following are possible buys tomorrow:
GS, EWQ(France), EWX(emerging mkts)

There are no possible sells tomorrow.

Action for TNA or TZA for tomorrow: None

You're right on that, many do… myself included. I enjoy writing about it, but I need to separate it from my trading. The Technical's say we are going down, and all the bullshit that the media spins can't change the charts.

I have to figure out your charting system one day. You created it yourself I'm assuming? For now, though… I'm not ready to go to that next level of learning. I need some successful trades under my belt first.

I just want to be prepared for 2011, as that will be a “once in a lifetime” opportunity.

All you need is a bullet proof mind………

So many people let diversions completely mind F*ck them (Greece, GS, bla, bla, bla)

Thanks, I'm learning… and I look forward to your charts and thoughts.

Maybe one day I'll be as good a trader, as I am with creating cool graphic's and entertaining blog posts. LOL

It's a process, often a painful one as terminal moves are the most profitable ones

I really don't have a bias for Monday's open

I'll post a chart this weekend showing the SPY 105.00 tick co-relational to a containment pt. on the weekly chart that I talked about a while back

This past week you've put together some great trades & it'll help your confidence