March 13th Trading Recap – UPB

Futures were ramping overnight as Australian jobs numbers more than beat expectations.    It was funny to read mainstream media attribute this mornings pop to domestic data.    Late last night I was all over it:  http://www.optionmillionaires.com/morning-market-video-upb/

Stocks faded as the day progressed but anyone who followed me in the chat room and private twitter was well prepared.

I entered the CAT $97 puts at $.20  those closed at $1.85

I entered the $X $25.50 puts at $.54 those closed at $1.10

I bought $FB puts yesterday and today.

I entered $WYNN and $LVS puts as well as $SPY puts.  All trades sent in the chat room and/or private twitter.

I am not the perfect trader as my satirical prior post would attest:  http://www.optionmillionaires.com/perfect-trader/

I do, however, have an uncanny knack for stepping into trades at the right time.  Just luck I guess.

My last 3 private twitter tweets

wooooooooot

PLUG ramped off its earnings release this morning.  Nice to see this stock catch a bid before it falls back below $2 later this year.  Hey you can't blame anyone... all this excess cash has to go somewhere.

CALL rallied 20%.  JB has been behind this stock for quite a while,, nice to see his due diligence, patience, and perseverance pay off.

ULTA is up after hours.  I like this chart and stock for a move over $100.  Check my post out from this morning.

The VIX ended the day up over 12%.  It looks like investors/traders are finally taking a step back from this market.

I said it in my video this morning.  $SPY $185 was the first line  of support.  We bounced from there today as if the trading gods were listening to my video.  The next line is $182.50.  We are pulling back.  The trend for higher prices remains, but no need to be buying until we find support.

I remain happily entrenched in $FB $WYNN and $LVS puts..... until we gap 1% higher tomorrow.... if that makes any sense....

Have a great evening.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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