A record day

The Dow closed at 14,000.41 and that is a record. It only closed over 14k by .41 but it is still a close over 14k. I'm sure CNBC has a banner across the bottom of its screen with flashing lights and exploding fireworks that says "BREAKING NEWS" announcing the dawn of a new age with commentators going on and on about how we'll be at Dow 15k by year's end. I'm not saying this to proclaim a bearish posture on the market. That would be silly. I'm quite bullish at the moment, I just think the channel is overrated and should be done away with.

This momentous event has prompted me to finally create my trading blog. This will simply be a place for me to talk about what trades I'm looking at or am already in and maybe give somebody an idea for their own trading account. It will also be a place to hold myself accountable to my rules by stating publicly exactly what I'm doing in a given trade. I hope it will be therapeutic on some levels.

Today was good to my account, given my bullish posture, but I'm getting a little nervous for tomorrow. As options expire I've got a couple spreads that are dangerously close to my short strike prices. AMZN has been driving me nuts. I'm short the 72.50 puts. At this point I'm just hoping Google's earnings drop won't affect me too much. After hours trading is just a penny above my strike, gives that fun queezy sensation to just think about it.


AZO and ICE are the other two I'm watching closely as they expire tomorrow.

My trend trades are going great. CKP is showing some weakness prior to earnings next week, but it did that last earnings too. I'm out 3% below the trend line right now.


COL is going very well right now. These now ITM calls are up 100% as of today. I'm going to sell one the day before earnings and let the other ride.


Finally, my proudest trade. With earnings coming out options around the market are hugely over valued. This makes going long a call really hard. I wanted to get in POT and ride it until earnings. So, to help offset the cost of the over priced calls I sold a put spread ATM. I got in on the bounce with both the spread and the calls. Looks like I'm going to keep the spread and be able to ride the calls until earnings.