04/06 EWZ Double Diagonal

Good and fast P&L recovery Today, now it is a matter of EWZ moving down a bit or staying around this level for the next few days. It was down by quite a bit intra-day Today, so the sellers may be getting excited about it.

Perhaps I should call some of my Brazilian friends and tell them to dump their EWZ holdings... Yeah, that will do it.

Dashboard and Profile

04/06 MNX 45-day Condor

MNX didn`t retrace that much Today, its daily charts shows signs that it is running out of steam tokeep moving up, I`m talking it into moving back inside the blue cone in the next few days.

Dashboard and Profile:

04/06 OIH 36-Day Condor

That`s right OIH, keep going down. Let`s bring this one home, shall we?? Today was a good day for the trade, a few more days like that and we`re golden.

Dashboard and Profile

04/06 XLE Double Diagonal

The trade was slightly positive at mid-day Today, it closed a bit under water but it is a good sign that profits are comming. Let's see how XLE behaves the next few days. Reminder to exit the trade by Thursday, as Friday is a holiday.

Because of Today's episode with GLD calendar, I added an up-side alerts on XLE, just to check on P&L if it decides to move too much to the upsite: alert at or above 46.50

Dashboard and Volatility Cone:

04/06 RUT 52-Day Condor

RUT retraced Today and that's very welcome, the position recovered 4%, just as long as RUT stays put or retraces a bit we're in good shape.

Probabilities:
98% chance it will be adjustment-free Tomorrow
82% implied probablity of expiring between B/E

Dashboard and Risk Profile:

04/06 GLD Calendar

The GLD calendar bit the dust Today. It is my second APR trade that hits the wall and I'm not thrilled at it. Nevertheless, it is part of the business, you win some, you lose some.. All I can do right now is to collect myself and evaluate what went wrong. Was it me? Was it the plan? Was it the market? Was a combination of all?? One way or another, I'm not doing this recap Today. I want a fresh perspective and want to take the time to go over the trade day-by-day using the blog for it.

I'm particularly annoyed that it went over and beyond my max loss, even though the price was exactly where the TOS analyzer was giving me the max loss point. Was it because of the volatility? Maybe? One more reason to stick to using the short deltas as the stop points, as you can never guess where volatility will be.

Well, let's move on to the other trades, they all got a bit better Today.