No new trades today. Yesterday's market weakness brought many of the recent put purchases near to and above their +50% profit levels. That was from one day's weakness and is an example of how quickly options can appreciate within their primary trends. It looks to me that Nasdaq is leading the entire market in the beginning of a sweeping new primary trend lower. If that is the case, the next few months will like none other that we have experienced in the past eight years of AllanTrends a/k/a Blue Line Trading. As for that new downtrend, the TV gurus are mostly buying and put/call ratios are still holding at rarified bullish sentiment levels. This is further evidence that what I am seeing in the Nasdaq is indeed happening. One of my personal accounts holds just one stock: UVXY. It's not a system trade, it's my easy-to-manage bet on a rough summer and fall ahead for the markets. Finally, stand-by for some exciting news later this week.
