The market did not disappoint yesterday if you are a trader. Choppy for investors though. However the direction is picked for a few days, and it looks like down.
The market's signals are so choppy into today that we kept the Ultimate Portfolio at 50/50, and the market after last nights fall is so oversold, I am leaving it there for now.
The $50K to a 1 million challenge had us go in long on SVXY, but will get stopped right back out. This happens sometimes on news events, and I do not second guess the signal (or what is the purpose of it). So we take our loss and wait for the next set up.
The ES swing short is still intact, and you can read about my tea leaves reading on a post I did on Tim Knight's blog. I closed my trade this morning but still think we are weak. Looks like the volatility stocks are bull flagging on the 2 hour. Not good for the market, if so.
http://slopeofhope.com/2015/08/climate-change-by-bkudla.html
NADEX was a killer for us, in a good way. We put on four EOD trades that all hit for us. Waiting for the open to place today's trades. We are doing very well with these set ups.
I have a long on BIS, profitable as of this wtiting, and will set a stop. IWM puts are profitable, Placed a small UVXY put trade on at the announcement, which I will close this morning, and the gold put spread trade is not profitable, but still has a week, and another leg to add. So we will see.
Good trading all.
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