GOOG Looking Interesting Now

As you probably know I have a core short in GOOG that is just in the green, I'd really like to exit that for the moment and re-enter at a higher price, however as the market moves further in to the bearish realm, such as this....

(Note each reaction top has a deeper and deeper lading negative divergence and way worse than the 2007 top. )

the market becomes more and more volatile and less predictable, at some point Wall Street loses control over the cycles and the market ends up looking something like this...

In spaces like the red area, I'm fairly convinced Wall Street has no control over the market beyond intraday or maybe very short cycles of less than a week. We don't know when that breaking point comes, we just know that the market is uglier now than it was back in 2007.

So back to my point, while I'd like to close some of the core shorts (all of which are at a profit) I have a rule that my portfolio reflect the highest probability primary trend. This is the reason I left the shorts opened and hedged them out with 3x leveraged longs which should work out well, making money on the longs, hedging the shorts and adding to the shorts at some point.

So one hedge I had for GOOG was 2 call positions, I closed both yesterday for a 12% and almost 80% profit on each, they weren't open for more than about a week and a half (trading days at most).

I'm very tempted to re-open the GOOG calls, I'm glad I closed them yesterday or else that profit would be smaller today, but there are some nice signals in GOOG that aren't in most other risk assets yet. The problem is time decay and the very long weekend coming up. If at all possible, I'd love to open them Monday if GOOG still looks like this.

 The daily bear flag in GOOG broke on what is almost certainly a head fake move, the pattern implied move would have GOOG heading to $575, instead....

 GOOG puts in a nice Clear Method Swing Trading reversal, the red arrows are days that count as downtrend, the green are a reversal to up and the yellow is a noise day.

 Longer term 30 min, leading positive

 15 min leading positive

 The 1 min leading positive, but to make sure it's not like some of the other's we saw today...

The 3 min as well as the 2 and 5 are all leading positive.

GOOG looks ready to make a move to the upside with or without the market. If I were looking at opening an equity only position, I might take it or start it here, but with options I think it best to wait until Monday.