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9-1-2010 It is good day for bulls. I think the fare value for my Sept ES 1050 call is near 40 for this week. It might be worth more later on, but then time decay starts to erode its value quickly. I would not quickly jump on to short near 1075 at this point. Judging by the price action, even...

9-1-2010 Take partial profit by closing NQ at 1800. I still hold sept ES 1050 call.

8-31-2010 Long one NQ at 1767 near close. I am seeing a bit more upside (1800) than downside (1750). The behavior of VIX could imply imminent up move in short term. I felt that selling has been getting weak over time. Besides, responsive buying below 1040 on ES has been consistent.

8-31-2010 I close my long NQ at 1774 (for 8 pts loss). Again, there was responsive buying at morning dip. If SPX 1040 holds, this bottom could be a significant one. Today is FOMC day, I expect some volatility later this afternoon. !775-1780 has become temporary resistance. If ES 1037 turns to...

8-30-2010 Long one contract of NQ at 1782.

News is powerful tool to the real insider (manipulator). The high vol was likely some sort of capitulation. Remember smart money always accumulate at low and distribute at high. If big money is selling at bottom quick, it is markdown to get last cheap share from the panic retailer or dumb money...

8-27-2010 Again, at 30 min from open, indices made sharp dip to key support level (1040 on SPX). It was clearly a markdown by big money to get cheap from weak hands. The price can be manipulated, but no one can distort the time. I went long NQ at 1060 and took profit at 1083. I may close...

8-27-2010 8-26's close was a bit low only 1 pt above 1044. If it goes another down thrust, the 1037 won't necessarily hold. However, the selloff right before close also could be a markdown before big gap up (utilizing GDP news tomorrow). I don't really have good read at this point so I closed...

8-26-2010 I covered all my shorts at near 1060 thought there might be some retracement before more down move. However, it went straight to 1040. I bought a Sept ES 1050 call when ES traded at 1048 after bouncing from 1044 quickly on Tuesday morning. It looked like some responsive buying at...

8-23-2010 Short 1077 and covered at 1063.5. It is possible that we will have another 1-2 day consolidation before resumed down move. The divergence between ES and NQ has been eliminated by the market close today. Now they are in synch again, and this might not be a good news for bulls.

8-20-2010 There is potential falling wedge forming on SPX. I bought back my sept ES put. My other concern was that NQ is not moving in synch with ES. I am looking for re-entry for short. If SPX bounce here, I would re-enter short near 1080 level (NQ near 1830).

8-19-2010 I bought back one of the puts when ES was traded at 1069. Many who were waiting for 61.8% retrace to 1106-1107 to short, might get disappointed. It was just like every one was waiting for ES to go 1130-1150 to place short last week. The 6 day distribution near 1120-1125 is...

8-13-2010 1095-1097 was the level I was watching for re-enter short. I still have the Sept ES 1085 put and added today when ES traded near 1096-97. EURO looked like a nice bearflag to me and 1.25 is the potential target. I am waiting for ES to test 1050-1055 area.

8-13-2010 I went long NQ at 1830 at close yesterday expecting some short term bounce. I close it at 1839. ES tried to get above 1090-92, but failed. I had to say it was not a good trade for there was not much edge on the upside at this level. I went short with Sept ES put again last night...

8-12-2010 I've closed 70% of my short position at openning yesterday and closed all remaining short position at yesterday's market close. The 70% position were August ES options and I was concerned about time decay. Although I am convinced there were more downside, it is not easy for me to...

8-11-2010 Sold my August ES puts when ES traded below 1100. I am waiting of retracement to short again. Given the situation of recent currency and bond move, it is very likely this down move in equity will lead to retest of 1000 (SP). I will continue to short bounces.

What a drama. TNX and VIX is not convincing the bullish move of equity market. The good buying should not be in such a hurry. Bought August ES 1120 put again when ES traded at 1123.

8-10-2010 I added one August ES 1120 put yesterday near close when ES was traded at 1126. I close it this morning when ES was near 1110. I am holding another 1120 put purchased last Friday near market close when ES was traded at 1117. I also have a short position of NQ entered at 1894. My...

8-6-2010 I closed my august ES put when ES traded near 1105. 1106 was a key level I was watching. The reason I close it was, 1. to avoid time decay over weekend, 2. I can always reshort when it bounces. I still hold NQ short and waiting foro at least ES 1075-85 level to be retested. This...

8-4-2010 The upthrust move based on news is bearish to me. This might be some final short squeeze before it goes down. If today's price range (ES) can be maintained between 10 pts and close at or below 1120, there most likely will be some imminent large down move. I stay short. This fake...