No Change in My Outlook

No videos tonight because nothing has really changed in my outlook. The negative divergences (distribution/sellers) I pointed out Wednesday afternoon have continued to develop. Although all in all it was another beautiful day for the bulls, especially on the DOW side. The next stop on the tour in my opinion will be a consolidation pullback, those pesky sellers I told you about already. In fact I bought some QID July $44 calls in the afternoon and they've already doubled.

About a week ago I said USO would be under $100 in the next month, it's nearly there now, but not for long. Oil also is ready for a bounce, throw OIH in on the pile as well. DUG is extremely strong, beautiful chart. I sold 90% of my July $30's today for about a 400% gain. I kept the rest to add to position there as I think DUG goes much higher in the weeks ahead. I closed out 80% of my ARNA July $5's, I'll keep the rest-it's going higher as well. I closed half of my August $7.50 HALO, I had a double there and with the pullback coming I figured time to use the house's money. JRJC Aug $17.50-no change, still holding all of those. No change to my position in CPSL, I may add some stock there next week. XLU Aug $40 Puts, still holding and will add to those on a bounce-big head and shoulders top there in Utilities and XLU is just coming off the top of the right shoulder. XLF Aug $22 Calls, sold about 2/3 of these today, I figured I can always buy them back cheaper...or maybe not. No changes to the QQQQ Aug $46 Calls-still holding all of them. CTAS is still in the stable, too bad we couldn't have yesterday's volume with today's price. I sold 40% of my FDO Aug $25 calls today, just to cover the cost of the trade and reduce some long exposure, raise some cash. On the totally closed out end-I closed the other half of my Aug $70 CELG, there was just too much premium at risk and with a pullback in the works, I had to take it-that end of the trade produced a nearly 400% gain. I also and woefully, regretfully and not according to plan.... closed out all, all, all of my AMR July $5 Calls. I swore I'd keep at least half.... David!!! I'm just kidding... about David that is, but I can't complain. I can't even calculate the gain, I had so many at so many different prices, but I made good money and it was just in a nick of time. I hope some of you were able to capitalize on that post this week as well or maybe you caught JRJC?

OK, I'm done for now. Enjoy your weekend. Click on one of my TeleChart/Worden links and go see what the huba-bub is all about. This is the charting software you see in my videos. The custom indicators I use were all constructed in TeleChart or Blocks. And really cool news, the guys at Worden are working on a sorta Trade-Guild-Super template that will have all of my indicators, 3C, the Trend Channel, MACD Heat Map, X-Over, and a few others. So remember, I'm an affiliate, the only way I get credit for you signing up with them is if you go to their site for the first time from a Trade-Guild link, which I have everywhere. Or if you call on the phone to sign up and make sure you tell them "I heard about TeleChart from your affiliate, Trade-Guild". It won't cost you anything extra and it'll help me out when I have the other kind of week... you know, the one when I don't post so much...

Or you can just go stuff some money in the PayPal Tip Jar over on the right side of the blog. Either way or even if you don't do anything, let me know if I can help you out and I'll be glad to try. If you have TeleChart/Blocks, I'll get you setup with my indicators if you want to give the a whack.

Have a great weekend.