Tuesday, May 6

Today started out well as I was expecting a pull back in the markets and I got it. This pull back was short lived and the mkt moved higher by noon and my short positions were hurting. The charts still look the same, at resistance and due for a drop. Will we get it, I don't know. I opened a position in KOL today with a limit order and all is well so far. This new ETF chart looks good but there is very little data to really make a good and solid assesment. I still think we will see a down turn in the next few days to a week or so.

markets today

The markets today are telling me we are at some significant resistance points and due for a pull back. SPX, NDX, Dow all at top up current channel. RUT has been a little weaker and is in the middle of it's current channel. I will trade cautiously here.

Coal is breaking out as of yesterday and I am looking to buy KOL an ETF that tracks coal.

I am currently about 30% cash and my positions consist mostly of various spread trades with only a few pure directional. RUT IC's are working well and have been all year though with volatility as low as it is the premiums are getting small. VIX is another sign that a pull back is due. I have small bearish positions in IWM, QID, APOL and BA.