Sep 262014

– BUY IWM 100 OCT 14 110.5 PUT @2.03
Got to play the Russel to the down side. It looks like it’s about to slip off a cliff, or get tossed. IWM failed it’s regular uptrend cycle bracket (daily) and is now entering the downward slope of the cycle. Also it’s entering the downward slope of the weekly cycle bracket. It already tested the bottom of the range that I highlighted in blue and there’s a good chance that it will plunge below it into the next lower range.  On the weekly I have a squeeze showing and it’s really looking to break out to the down side rather than up.  I also think that today is a “Bull Trap” after so many “Bear Traps” in a row because the market is really hitting resistance all together. Meaning that the market movers will buy in the morning showing traders an excuse to buy the dip and then crush it back to the down side.  We’ll see I guess…

10/2/14 – Sell IWM Oct 14 110.50 Put @2.67
Man I got stopped out on today’s rally. This was looking at a huge profit for me but the Russel moved up huge and my position got crushed to my stop level. %25 profit (after commissions). I’ll take it!