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SPX on August 16, 2016

The S&P and the market in general has been grinding higher over the last few weeks much to the chagrin of short sellers. There have not been many down days since late June, but there are signs of an interim top forming. The chart below shows the SPX up 190+ points since July with no meaningful pullbacks. A simple Fibonacci drawing shows a perfect 161.8 extension up to 2193 from the late June dip that went from 2120 to around 2000.

Today's action took the SPX below the high of the 21 day low bar as the MACD leads...


Bought to Open (BTO): TSLA OCT 15 CALLS @ $1.34

Based on the Daily chart above, we see some upside potential upside for TSLA. The options on TSLA are typically expensive as the stock is highly volatile (Hi IV or Implied Volatility). The choice of strikes was based on price ($1.34) and the fact that the stock should gravitate toward the $300 price target naturally.

Going out to the 3rd week in October gives us plenty of time to realize a profit if we are wrong on direction initially. This trade...

ACT Trading Log 9/17/2015

Trading the markets on Fed Day:

The Fed made their much anticipated announcement today leaving interest rates unchanged. The market spiked higher at 2pm EST, then lower by the same amount, stabilized, rocketed higher and ultimately crashed by the end of the trading day.

No doubt, some traders got their heads ripped off in the wild action that took place after the announcement. We stayed out of the first few minutes of the trading action. After the market stabilized for a few minutes, we took our long signal in...



Bought to Open (VGGL) Viggle and Sportech have joined together to buy the daily sports fantasy assets of MGT Capital, forming a new company called DraftDay Gaming Group. Viggle will own 45% of the new entity while Sportech will own 35%.

This is a purely speculative play. I bought at an average price of $1.47 per share. I will hold on to this position long term as the new fantasy sports genre gains popularity. DraftKings and FanDuel are the two most popular fantasy players in the space right...

USO Aug. 31


Sold To Close (STC) Half of our position in USO for a double. We will hold the rest of the position at least through September. Now that we have doubled our money, the remaining half of the trade is free. Oil will probably pull back a bit after an incredible run-up over the last three trading days.

So why don't we sell the whole position? Oil has a mind of it's own and lives in it's own universe. You definitely want to be along for the...



GLD: Dec15 Call @ $3.99

Gold appears to be in play after it's pullback to the 50% Fibonacci level from it's swing low on 7/24 to it's swing high on 8/24. We are looking for a price target of approximately $114 on GLD.