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Last Update: 10.23.13

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10.11.13 Friday

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Entered Call Positions @ $168.96

I explained why I was very bullish on the market on yesterday’s video and early this morning, I’ve decided to take long positions using call options. Also you can see on that yellow dotted line (short-term resistance), yesterday, we’ve closed well above that showing us much bullishness this morning.

Great victory by the bulls and very satisfied with the move but I wouldn’t be surprised to see some short-term pullbacks here next few days.  Holding full positions.

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10.14.13 Monday

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[Open] Heavily Added Calls @ $169.14

Nothing has changed even with huge gap down this morning. Chart pattern is still looks bullish and I am going to play that fear to add to my call positions 3mins after market open.

[Close]

Well it worked out in my favor but even with huge gap down this morning, chart pattern was still bullish and I just followed it.  I really like to see some short-term consolidation here next 2-3 days before thrusting higher.  This isn’t the level to short or worry about potential H&S reversal or double top or non of that because this whole year non of that theory played out.  Until we get any kind of reversal candle or pattern, I remain bullish.

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10.15.13 Tuesday

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Positions Reduced @ $169.99 (Still Holding Remaining)

I did close out hefty amount of positions with profit about hour and half before close today as I was holding much heavier positions than normal. But I am still holding remaining positions and will add to my current position if I can see some continuation pattern next few days, perhaps, bull pennant pattern would be indicative.  I would have to say $168.90ish level (where 10/20EMAs are currently hanging out) is the level for the bulls to defend if it ever comes lower tomorrow.  I am hoping to see a gap up tomorrow and then hold above $170.20 – $170.50ish level most of the day and close in that level and if we can get that, I do think the market could continue higher.

(Today’s candle stick pattern is known as “Bearish Harami” but it is one of the weaker form of reversal so for it to play out, it will need to close below $168.50ish for confirmation of roll over)

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10.16.13 Wednesday

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[Morning] Added Back Calls @ $171.06

Got back in it with full positions that I reduced yesterday and added some more because I am still AMAZINGLY BULLISH.

[Close] Strong Finish

I personally think we are going to break above this resistance level of $173ish and go to about $175 before rolling over agai but I will be watching closely on this resistance level to make sure we can break through that. I am assuming that we will continue to grind higher for the remaining of this week.

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10.17.13 Thursday

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[Open] Heavily Added Calls @ $171.40

[Closing] Closed Out 60% of Entire Positions @ $173.21

I think we might get a gap up tomorrow and potential target is about $175 which is the rising channel resistance.  I am not sure if we will go any higher than $175 before crashing down.  But I am very satisfied with gain so far and holding remaining 40% of my call positions.

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10.18.13 Friday

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[Closing] Closed 50% of Entire Positions @ $174.31

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10.22.13 Tuesday

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Still Holding Small Positions

Still holding small remaining long positions but we are really grinding here.  We will know soon enough if we are going to push through this upper channel resistance or roll over.  This is “make or break” level.

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10.23.13 Wednesday

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All Positions Closed @ $174.72

I have been holding very heavy positions on $SPY calls and pretty much buying every dip.  This trade has been one of my biggest gains in the last 5 months.  I don’t think this is the level to get long but to be defensive and start to reduce long positions.