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LAST UPDATE: 8.6.13
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Related Articles
7.13.13 “$DJIA $SPX $COMPQ $RUT Bulls Dodging Bullets“
7.17.13 “Mid-Week Update (Recorded LIVE Webinar) $SPY $QQQ“
7.26.13 “$SPY Keep Going (Target Price $174)”
7.27.13 “Looking at $SPY $AAPL (Comprehensive Analysis) [VIDEO]“
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7.29.13 Monday
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[At Open] Loading Up Calls @ $168.80
“Old resistance new support”
[Mid-Day] Loading Up More @ $168.47
Finding support at a prior high pivot level (flip it to line chart and see why that level is important) now possibly becoming new support.
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8.1.13 Thursday
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[At Open] Loading Up More @ $170.06
Exactly same concept here as we gaped up above the prior high which that could become new support (see yellow arrows) so I add some more calls right at open.
[After Close] New All Time High
We are at a new all time high and we had great run today with solid close. My target is about $174 which I explain on this article of why. Looking good so far and currently holding all call positions. I don’t “trim and trail” but rather I like to ride the full swing and that’s exactly what I wish to do with $SPY.
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8.3.13 Saturday
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Holding Full Positions
Nothing much to be said but I do believe that the market will continue higher in this grinding fashion.
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8.6.13 Tuesday
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I am All Out at $169.46
Well that didn’t quiet work out as I’d hoped, perhaps, my stop was too tight. Nevertheless, I do think the market still looks bullish looking at the longer term here. I do not see today’s action as some kind of sell off frenzy catalyst day but definitely it spooked many traders (including myself) because we did not expect this to happen. That’s why you got to love this market!
I want to see how it’s going to react next few days and I am thinking about re-entering with calls when the opportunity arises but for now, we wait for more confirmation.
