Why didn’t I buy more?

Traders were happy with AA earnings and futures were up all night. Adding in a good jobs report and many stocks gapped up at the open. My spec plays from yesterday were flops. Both CHIP and OPXA floundered around to the down side, but not so much as to stop me out. Most of my trading activities were in the futures before the cash markets opened. I couldn’t sleep last night, so I got up early, like 4AM, and enjoyed some quiet trading. Using 1 car, I traded short 2x and long 2x and walked away with 45 ticks before the open….so it was a good day by morning

The other exceptional play I had was entering some TBT calls before the auction results. TBT is the Ultra short 20+ year Treasury ETF. You would buy this when you think interest rates are going up. After the auction results were announced, the calls popped up 20%…and within another 30 minutes they climbed another 15%, so I cashed out with a 35% gain in about an hour’s time. That was one of those trades where you kick yourself saying, “Why didn’t I buy more?”

The markets have been up every day this week, so I’m thinking traders may be taking profits before the weekend. I also think that Gold may be getting a little ahead of itself. So I’m making a watchlist of several short ETFs, as in: DZZ SDS TZA DXD ERY. I’m also looking at re-entering TBT calls on any pullback. And I’ll probably be shorting ES….unless of course, the bulls come out and chase the bears away.

And for your reading enjoyment:
The Weak-Dollar Threat to Prosperity