Positions and Market Update 5-7-14

Another interesting market session as the S&P and DOW closed well into the green, while the Nasdaq traded in the red all session,  sometimes down over 1%. After a morning market fade, the blue chips found some footing and rallied, while Tech and the Nasdaq continued to drag and lag. The market finally performed a bit as expected, albeit in the morning, as the GAP up was faded, i added more puts, and was able to make some nice profits on WYNN and a small profit on BIDU puts. What i said last night:

I may look for more put opportunities if the SPY opens above the 50dma (preferably green) and starts to fade tomorrow. FYI: I am still bullish on the market for 2014:  

Once the market showed signs of pushing back to the upside, i close d the puts. It does not mean i think we can't go lower, just means i am skittish holding puts for any long period of time with the S&P above the 50dma and the DOW showing strength. ZIllow reported a VERY strong Q after hours, but was taken to the woodshed during the day. If it can get over this momo/no-profit sell-off, i think it heads back over $110. PCLN will be one to watch in the morning as well. Here is my trading update as of the close: 5-7-14 tracker   Have a GREAT evening! - JB

JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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