Long GDX @ 24.35

GDX has been good to me over the last 18 months and I'm going long the gold miners once again. It needs to hold the previous swing low in the 24 area to keep me in it.

One last bear beat down...

As much as I'm trying to look for it I still can not find any information that tells me the market is not going to make one final assault on the Sept highs. Even though I was stopped out from my longs @ /ES 1674.75, I am convinced that move higher is coming. It should start tomorrow. If it doesn't I will be looking for a sizeable gap up opening on Mon. I am rebuilding longs in the 1664-67 zone. If the /ES closes the day below this level, then "Houston, we have a problem."

Covered TSLA short @ 168.67

I think there will be better prices to short in the next few days, probably in the 180's.

Lifetime Channel Exerting Pressure

I've added to my longs @ 1674.75 in anticipation of a move towards 1720 (or at a min to the top of the ST channel below).

However, as you can see we are running out of room for my thesis to play out. The good news is that risk is well defined and since switching gears is not a problem for me I am still playing for a move higher.

I would be lying if I said I wasn't somewhat concerned because I know the type of pressure the lifetime channel ($DJI) will put on the rest of the market when the time is right. When it does, bulls will be crushed.  I just don't think it will start until closer to the middle of October and probably on some type of perceived "good news".

Lifetime Close-up

short FB via Nov 46 Puts @ 2.09

FB is mine and it is headed lower.

call me crazy...short TSLA @ 182.32

This looks a little different to me from past 1 day wonders. This thing might have some legs and if it does you'll have to do what I just did to make money on it. Man up and short into weakness. I said screw the options and shorted 100 shares. May the force be with me...

slow rolling...

Market's are continuing along doing what they do best...keeping bulls and bears alike on the edge of their seats. Nothing has really changed over the past couple of days. I still continue to believe that the market will trade somewhere in the neighborhood of 1720 at some point in the next few trading days. I will start looking for setups to re-short the /ES when it trades there. We could see some resistance in the 1695 zone and depending on the price action I may lighten up some of my position. I was stopped out of my gold and Nikkei trade on Monday. Gold reversed last night right where it had to if it is going to make it to my 1450 target. I will look to re-enter longs if it can show some follow up strength over the next few days.