At the time of this writing I have taken a 56% profit after commission on some weekly SPY 127 puts that expire today. Entered in at 0.16/contract and exited at 0.28.

As you will see in the chart included, I have placed my entry and exits with yellow stars and my ideal target exit with a green star. The yellow dots in between some of the candles are times where I created an order to exit the trade and cancelled. I wanted to exit twice when I had generated 20% profit and once when I had over 25% loss.

(Click Chart to Enlarge)

My Entry (first yellow star) was just where I wanted it (below the daily pivot). I am still working on my exit execution and controlling of emotions. I usually write out how I feel about the market action or trade via either sharing with another trader via text, chat, twitter etc. When those aren’t my preferred choice I write it down on a notebook. It’s not foolproof but it helps me personally stick to my strategy and most of the time a trade.

I will provide more info about the chart for the curious ones… The purple dots represent the daily pivot point. The red dots represent resistance levels and the grey dots are support levels. The two red lines represent yesterday’s highs and lows so I would have an idea when that tight trend that developed yesterday would be broken. Also the chart is 5 minute to show the entries better but I prefer to use 15 minutes when day trading.

This is mainly on here for me to reflect on as an online public journal, they say when you publicly share something you are more committed to keeping it (in this case sticking to my strategy that works for me and just working on getting better at exits and emotions).

Update: As of 11:35AM Eastern it looks like my ideal exit has been hit and the put options were worth 0.49 a contract. Had I executed that the profits would have been 187% after commission but that’s in an ideal world. Another influencer in my premature exit (pun intended) was that Obama was set to speak around 11:35AM and I wanted to avoid any spikes that would ruin my trade.

As of 12:50PM SPY hit lower than the second support line in my chart.  Emotions got the best of me and I did exit too early indeed (would have been 400% since my entry). Its hard to think of it that way. If i had exited at -25% loss (as mentioned earlier) I would be devastated for the day.

As the new InvestingFreak tag says:  See it, Call it, Trade it, Bank it.
I Saw the potential for a down day, Called it by texting a fellow trader (will work on tweeting realtime to share ideas), Traded it, and well... Banked it.

Make some moneyyy!!

-K

You can check out Investingfreaks' Investimonial page and leave a review for others to see so we can get more visibility.

There are currently two 5 star reviews and one email from a reader that found us through investimonials as well.

Here are what is being said about this blog.

Danny:  "funny, sharp, witty blog and really timely notifications"

the creator of this blog warned his subscribers to be extra careful a couple days before the flash crash! check it out. go to the website and go back to may 6th and before! its a really funny blog too.

theres a nice little community of sharp traders at investingfreak. they share their trades and other speculations. really cool site, i love it

Tommy: "I bookmarked this site!"

This blog is great. The few traders that write for this thing are on point and comedic. That really helps keep the reading light and interesting. I wish they updated the blog more, but with all the market action that has been going on since the start of September. I can't blame them for that. When you find guys that are willing to share great information, take advantage of it.

Fetcher (via email)

You have to know that I truly enjoy using your blog. it's very useful and really effective tool for everyone! Actually I found it via investimonials.com, according to it your blog has few reviews but I think your blog deserves to be rated higher. So it would be a big step to ask your readers/visitors to leave reviews in investimonials.com.

Again I appreciate the voiced opinions because as much as I ask for comments in order to improve the site and content many just don't want to be bothered and pitch in.

One last thing is an update and apology. The last blog post before this was back in October and that is unacceptable but as Tommy mentioned about the market he is correct. (By the way I am long Blockbuster $BLOAQ, a January 165 Netflix $NFLX put which I acquired when Netflix was up at the $205 area a few days back)

I should begin posting more in the next few weeks. But if you are a reader you are urged to go to investimonials.com and write a review if you have something good to say.

-K

First off for some humor Here's my Inspiration to the awesome title.

Ok so without even mentioning any recent news because I really don't care if the Economy officially came out of recession last summer or if Larry Summers will finally leave his post at the end of the year because I am a technical trader and I like to trade what I see rather than what I hear. If I traded what I heard then I would be a BOOOYAH Cramerica Fan which would have made me millionaire by now if I had invested billions.

Lets start off with an hourly chart for the past 20 days of the SPY so we can see what happened while the blog was inactive.
I will not reveal the indicators of lines used in the chart but with some trial and error you might be able to figure it out . As you can see starting September 1st the market broke above the blue line while at the same time volume picked up and a special indicator went from red to green.  SPY at the time was around 107 and today it reached a high of nearly 115.

Thats great and all as we see what happened in the past but what about the "Freak"ing future?  I am not calling a market top yet but I must make my intentions known that if either 115 or 113 are broken on the hourly while the volume is there then that will determine the future.  If I were to call it? I would say the volume increased the last two hours of today's trading thanks to Ben Balloonhead and the special indicator below is heading downhill (but still green).  My ideal trade would be when SPY cuts below 113 and the indicator turns red.  Remember that even if what I am preaching does not happen at least it is a more informed decision than pressing a "Buy Buy Buy, Sell Sell Sell" button. (Click Image below to Enlarge)

Next up we will visit something I like to call the Bollinger Bands and again I will not reveal the inputs but I hope you are understanding (you can always figure it out with some hard work), as you can see I have also shown the signals my system has given to me. I am awaiting for that Sell signal which might send SPY to 110's at the very least if it displays me that lovely red "S".  of course there have been times where the market just consolidates along the blue lines and then moves up in which case I wouldn't enter until I see my system print the signals while I also evaluate the chart already posted above.

Are you falling asleep yet? If so you aren't a real Investing Freak because only the elite know that without doing your homework you will go into the market like a headless chicken and come out a loser. Now Time to introduce the updated Investing Freak special chart which I last displayed back in June. If you click on the link and go to that post you will see a  "price line" drawn near 1152 (it's really just a bit over 1150 if you get microscopical), I mention that because today the market reached up to 1048.59 and retreated a full 10 points!  10 points is a sweet intra-day move which you can make a killing on if you play it right. Anyways here is the updated chart since I can see you falling asleep. (Click below to Enlarge)

Recap: I've been busy, market has been behaving according to plan and is not showing more negative signs than positive but no definite reversal has been noticed so just use the charts above for reference. If they are helpful, you are welcome to post comments so we can liven up the blog again.

Until next post.... Enjoy Making money!!

-K

I hope to find the loyal freaks back and richer in August.

As for what happened today I decided it is best to sum it up using this image and text. (Click To Enlarge)

I bought Puts early on then called top of 1077 in a comment at around 10:50 with the top on the market coming at around 11:30 where I decided it was time to make true to my preaching and sell my calls. Sold puts at end of day and am flat for the next day opening so i can sleep well

Keep checking the comments for latest news and talk and feel free to participate (dont be shy)

-K

Let's just say

Here is an Update of the InvestingFreak Special SPX chart the Red Line (250MA is broken for now so lets see if it holds broken and turns into resistance. to the downside i see 1040 and to the upside a retest of 1104 at least is possible although not all this action might come monday. (Click Image to Enlarge)

So there you have it. Fun week ahead but lets all make money whichever way it goes.
Also visitors are always welcomed and encourage to comment and participate in daily market discussions, your posts wont be deleted or censored unless they contain inappropriate content and links.

S&P futures are down 9 points since the open.  On top of the page in the "Economic Calendar" tab you have easy access to the daily calendar happenings and live commodity futures.

To the followers of InvestingFreak's Current Picks I thank you for your support and I hope the $SPX April 27th Sell signal (along with the other symbols) made you some good money especially if you traded SPY puts. As Shown Below the market has corrected over 10% since then and there still no buy signal.

We now have a 
Button on the right hand side.

To those that have already donated we would like to Thank You! for helping us pay the hosting bills. We hope you continue to enjoy the content on this site.

Lastly I would like to inform you that there won't be any updates from May 22 to June 1st because even Freaks need to take breaks.

Make some money next week and donate 10% to us.

-K

As I wrote on the 28th

I finally had time to check on the market a big grin came to my face. A lot went on today and news blamed Greece and Portugal downgrades for the sharp drop. Nobody ever talks about the technical analysis because it is beyond the mind of Joe the Plumber.

The first chart was the EUR/USD which broke an ascending triangle on the daily back in December.  Below is an animation of Apr 27 and May 7 to show the move. If you have trouble viewing the animated image please leave me a comment because it's the first time I'm using animated content. (CLICK TO VIEW ANIMATION)

Next we'll move onto the $TED Spread which jumped nearly 100 percent since the 28th. (Click to View Animation)

Lastly I will leave you off with the Investing Freak Special SPX chart animation. Boy was this a move, the red line is the 250 day moving average in case you are wondering. (Click to View Animation)

Where do I see us heading from here? We still haven't broken some key supports such as the 1088 trendline and the 1060 250Day moving average. So if we drop another 50 point we will still be good to go for a bounce. If more crazy days are upon us?  I will check with BID ( Sotheby's ) to see if it's gone below 22 to initiate heavy short positions.

Thats just me and as always these are my opinions and even though they work for me I cant guarantee them working for you.

Have a good weekend and be on the lookout for the latest Current Picks signal changes coming up this weekend.

-K

Let's start off with the Eur/Usd which I have closely followed since December when it broke a long term trendline.  I hadn't looked back at it since and I was shocked.  Here is the first in a series of Special charts.

Next on the list is $TED which stands for the Treasury - EuroDollar Spread.  You can read more about what Ted is on this November post if you are not familiar with it.
WHile the spread of  0.2 is still fairly low and below the average of 0.5 the fact that it is increasing and the moving averages are making their first crossup since before the October 2008 crisis strikes me as interesting especially given the current economic situation.

While on the subject of Europe lets check out the Greek Index $GRDOW which I wrote about on April 11 and that turned out to be the opposite of what I expected. From a low of 124.17 on March of 2009 the Greek index went through the roof at 267.40 and as of close today it stands at 138.11.  Go Greece!!!

Now lets take a look domestically at  BID - Sotherby's   which as I mentioned on March 14th's post is Part of my indicators arsenal.  BID fell from 37.75 to 34.93 today which broke a short term trendline but also another big move would put it below the 32 mark that is the next strong support. Since the March 2009 lows of 5.85 BID is up 666% to as high as 39! That's nearly 47% a month.  A move below 32 (20% drop from 39) would tell me to wipe the dust off my ammunition and a move under 22 (40+% drop) would just signal that Chaos is back and since this is a Leading indicator to me it would highly influence my positions.

Lastly I will leave you off with the Investing Freak Special SPX chart that I last posted on April 14th.  We hit a top, retreated a bit below the blue moving average then made a higher high at 1219 but this time it was different as the retreat didn't land on solid ground and we fell through.

Class Dismissed.
-K

I will be introducing a new Feature this week. A chart to accompany each call. The charts are 3 months and they show all signals that might have occurred during that time-frame.
Red Dots means SELL and Green dots signal BUY.  Simple enough? Great Let's get started.

Here's a look at SPY SPDR S&P 500 ETF Chart
(Click to Enlarge, Same goes for the rest of the charts)

Upgrades

IYR  iShares Dow Jones US Real Estate (ETF)
Upgraded to BUY on Apr 21 at $52.23

XLF  Financial Select Sector SPDR (ETF)
Upgraded to BUY on Apr 21 at $16.74

Downgrades

DRYS DryShips Inc.
downgraded to SELL on Apr 19 at $6.20

SRS ProShares UltraShort Real Estate (ETF)
downgraded to SELL on Apr 21 at $26.98

SKF ProShares UltraShort Financials (ETF)
downgraded to SELL on Apr 20 at $17.32

SMN ProShares UltraShort Basic Materls (ETF)
downgraded to SELL on Apr 23 at $32.37

VXX iPath S&P 500 VIX Short Term F
downgraded to SELL on Apr 20 at $18.27

Disclaimer:
I am only giving the latest signal for the stock mentioned. Use at your own risk and make sure to take the date into consideration. If you have been trading for a while you should have realized that relying solely on the strategies of others (think Analyst Opinions) will lead to failure so please only take the signals I provide just as another indicator in making your informed BUY or SELL decision. Now go Make some MONEY!

-K