I see some intraday downside, there are some signs the market is building for a move higher, but we expected this all along, even last night, the question was, would the build for the continued move higher be a 1-day pullback on op-ex (today) or a longer pullback? I still can't answer that, but I'm ok with the AMZN and NFLX positions in options, I'm glad we flattened out in the index options, you can even do so on an intraday move down like we are seeing now if you want to flatten out on some put positions.
I do believe we will be opening some call positions or longs for the continued move higher before it fails and we get a very nasty move lower, the question is timing and I'd rather be flat and have time to make the best decision than worry about missing a trade.
We have an incredible ranking right now in the Options Tracking Portfolio and nearly doubled the return this month alone for the entire portfolio, I want to keep on making smart choices and not worry about missing the moves.
I will be silent for 15-20 minutes as I go through currencies and leading indicators to get a fell.
Here's our current Options Tracking Portfolio Ranking for the week/month.
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