Update and Twitter

Folks, I have been gone for a while. Sorry about that. Anyways, a few quick updates. I am on twitter and you can follow me here or you can see the updates on the right hand side on this Blog.

As some of you already know I sat out most of the market rout beginning November of last year (phew!). Am back trading but not so very often. However after becoming reckless with my portfolio last year letting it to rot with no active supervision, I am making the choicest of cuts thus trying to yield more profits.

My call for the Markets: we are seeing a very interesting mix of indicators between sentiment, put-call, weekly charts, options volume and Tick. I am Market neutral. I don't know if you have noticed but since the last three weeks we have had a pattern of up Fridays followed by down Mondays. As long as this continues, you can be assured we will remain in an uptrend purely from a pattern recognition point of view. However, there is a lot going on in the short term that makes it wise to play very safe.

If you read my twitter updates, my last few trades have been decent. I am currently short Nasdaq through QQQQ puts since end of Friday and will remain so until tomorrow or day after. After that I will take them off the table and be on the sidelines unless a clear pattern emerges in either direction.