July 29th, 2013

Been a few days since my last post.  Back was killing me Thursday, July 25th and I spent Friday, July 27th trading.  My results Friday were good.  I successfully executed a put option play on the QQQ ETF with an original position size of $3,000 at 10:27 AM and exited the trade with a profit of $1,000 at 10:50 AM.

Today's results were not as spectacular, however I did manage a $100 profit on a sniper call play on GS.  Toward the end of the trading session I did enter a multi-day put play on GS as their stock is coming off a 52 week high, the market is turning over, and it has a lot of room to close the gap between the trend line.  Plus the entire financial sector is facing pressure with rising interest rates, and the Federal Government accusing JP Morgan (JPM) of manipulating energy prices out west.

Aside from rising interest rates and the JPM fiasco, the biggest news of the week will be Wednesday when Ben Bernanke announces the Fed's position on ending stimulus.  How the market reacts will be interesting, to say the least.