5/29/2012 - Risk Management/UUP/SPX Analysis

• Half off the Table @ $105.00 for 5% gain from $100.00 Trigger. Let the rest ride for 2 more days with a Break even stop on the Last half...
• Wynn is now forming a bearish flag pattern and looks like a great short at the 20Ma(confirmed major resistance )

• Stopped out of XOM call options today for 43% loss due to time decay. 10% position... 4.3% Loss of portfolio...
• Ending the "bounce cycle" on XOM also $82.00 level has ben hit too many times can easily break lower.
• This Rob F Smith Triangle also I have been watching for a few days looks like immediate downside risk to $80.0 level.
• 10M Head and Shoulders Pattern Trigger was my exit for this trade.
• 200Ma is now minor support.
• Bottom tail should still be respected There are still bullish characteristics of this trade however holding the option was just too much pain, I should have bought farther out or Stock only...
• There is also an inverted Head and Shoulders here as well...

• Holding JPM Long from $33.25 Entry with Jul Calls. Flat on the trade.
• JPM 10M Showing Bullish Penant (flag) pattern About to pop to the upside (lets hope)
• Tomorrow hould see action this triangle is squeezing down sharply.

• FOSL another long position picked up at $69.90 is decently ITM. First target is $73.85 for a 5.5% Gain. Will take first half off the table... Break even stop is now in place on full position.
• IWM A Long position picke dup at $74.50 is now ITM. Break even stop on full position is now in place. First target is $78.50 for a 5.3% Gain...

LETS TAKE A LOOK AT THE ONLY THING THAT MATTER THE DOLLAR ....

• UUP into TRUE Double Top... also showing Churn in MACD and candle sticks..
• Tomorrow is a 7 time count from recent pivot low.
• 1 big problem with a swing in the dollar... what will cause it? Greek resolution? what will be the catalyst for this turn? with things soo horrible Its just hard to see a turn in the dollar.. This 22.84 is a very strong Major Restiance and technically we should get a turn here...

SPX ANALYSIS

• SPX 1340... is to be shorted heavily
• SPX forming a Bearish Flag Pattern
• SPX 9 Count is thursday Looking to pick up short SPY at 20MA... Most likely going to go with AUG PUTS... for now on when picking up options I will be picking up 3 months out.