Today I took nice profits on most of my longs as the market bounced strongly in the morning.
We are still in a bull market, but I'm cautious for the moment with the Russell 2000 lagging significantly behind.
I do think the market will bounce more tomorrow morning but it may get selling pressure and head back down from there.
I am still long GOOG (Google stock) which broke out to new highs today. (Short naked put options since Wednesday morning).
I am also long the VIX (CBOE Volatility Index) and my add some more tomorrow (also via shorting naked put options.)
On a more speculative play, with very small amounts I am short RIGL and long NUVA, both of which have had big drops lately but obviously I feel RIGL is in a bad technical position and NUVA a good one.
I also have been long USD/JPY (Long US Dollar, Short Japanese Yen) since Monday which has been working nicely, I added to my position on the drop today.
And I did a daytrade long EUR/USD (Long Euro, Short US Dollar) as it popped in the morning for a tidy profit.
I will post charts explaining the reasoning for these trades, so don't forget to follow on Twitter or subscribe to E-mail updates.
All in all it has been a good couple of days after a slow start to the week, and I'm glad to be light and balanced going into tomorrow and probably the weekend.
I'll be keeping an eye on TF (Russell 2000 Futures), if they continue lagging behind that is not a good sign for the market.
Also, VIX is at a key support area which it should break if we are to continue strongly to new highs.
Still, it's a bull market and I won't be eager to bet against it.