Market Recap - Sep 21

The Dow were up 7 points to 10761 after rising as many as 80 points after the Fed statement.

I expected the market to go up after 2:15pm today and since no firm changes, which we already know, the market should come down. That is why in my intraday I said I will sell the SNDK and buy it back. However, I am stuck in the meeting and couldn't do it today. It is Ok. Everyday we have chance. Now what I concerned is the ATHR, how I can recover my loss today.. It went up crazy for almost 10%!!! Currently ATHR is below its 20,50 and 200MA. Very short term , the 7 days now is above its 14 days MA,, a warning signal. Option 1: dump and recover from other positions. Option 2: buy call do a straddle.. then a big transaction cost.

It broke my rules of 30% stop loss this time,, coz the unexpected huge up price is really out of my expectation after some Analyst upgrade this stock and set target price around 45.

I will keep close watch on this one and dump it if it gets worse.

I will look at SNDK tomorrow and ADBE too tomorrow. Not too bearish about the market but even in bullish market, there are still some stocks that I pick for short term PUT options. Basically, after today's red figures, ppl starts to concern and think of the market peak and turn over. I am flexible and will just adjust myself to the trend.. If it points to the north, I will go north.. If it changes, I change the same time. And I never try to guess if it is peaked or not,, because human brain are not programmed to compete with Super computers.

SNDK is a good short run, one day for 40% gross profit,, which is good to see and will keep it up.

updates -intra day 9/21

Closed position - SNDK at 5.15. May buy it back after 2:15pm.

current position- Sep 21

It has been some days since last blog. Kelly is just back from China and sticks to me like a tail. But i do keep trading these days.

Currently position I have:

1. HK Oct 18.00 P: bought at 2.57 Current : 2.97

2. FSYS Oct 26 C: bought at 7.8 Current: 10.20

3. ATHR Oct 26 P: bought at 1.2 current: 0.55

4. SNDK Oct 40 P: bought at 3.88, current: 5.1

Big Loser on ATHR, because it raised up 5% more today!

Recommended the ETF of EPI for intermediate term position on Sep 10, by that time the price is around 23.60. Today is 26.05. EPI is still good to hold and if price goes down, can buy more positions. My expectation for this stock is at least above 27.

Will follow up after the market close today.

Because of today's FOMC, it will swing up and down around 2pm and the market will try to pick the direction. Since the engine of the car started and ran so fast yesterday, the momentum will be there and it needs some days for the engine to slow down. Let s see if the pivot day will be 9/21 or not. S &P stands above 1130, the resistance point that tested 3-4 time previously, I am not quite sure how bear this market will be.. The up trend is there and VV is showing confirmed up signal since around Sep 10.