At 9:53 S/O saw E on all charts for the Q's (55,34,21,10,8,5,3,1) and jumpd on the trade. NASDAQ was falling fast. Q's were @ $94.78. When the NASDAQ falls you will see the Q's fall too.
Bought 50 July $95 puts for .80 and sold @ 11:29 for $1.25 .
I liked NFLX because I could see that the gap on the 55 was closing and the open candle went below the 50 moving average. Seeing the NASDAQ going down bolstered my direction even more. I had E on all charts.
I just got out a few minutes ago. I bought 3 July 455 puts @ 10:06 and sold @ 11:52 for $18.90.
In both trades the money flow was strong as well as the ADX.
I figured we would have a good sell off. Too many talking heads wanted this market to hit 17,000 and I couldn't find any reason why the market should have done that. I know we rebalanced in June but IMHO that made for a rather difficult market so 17,0000? Why?
Anyhow I am done for the day.
Edited 1 time(s). Last edit at 07/08/2014 11:07AM by Darcy2.
