Good Afternoon,

Much ado about nothing is how this week went. Again, very light flows on the intraday levels, with one (or less) move a day. Unless you are trading for a few weeks at a time, the intraday movement (in my opinion) hasn't been worth getting involved in. Yes, we had a few DOUBLE FALL LINE TRADES in forex, but that was it.

I am still "trading performance", which means I am protecting from further upside volatility (and bearish markets).  The dollar has been the safe haven trade and I am looking for it to strengthen just a little bit more in the coming weeks. If the equity market trades up early next week off of this move, what a great place to buy more dollars as it hovers near its multi-week high AND what a great place to buy puts/write bear call spreads. Yes, I am selling the equity market rallies.

Let's go to the charts:

So 101 is the level. IF unemployment comes in worse than expectations, is it violated?

AND now for a 180 - yes, that's right, I am bullish on something, somewhere!  Yes, selling puts on USO, not a bad 3 days for oil prices.  BUT! you must have stops in place. If you don't want the stock, you have to know where the CHART is telling you to buy back the opion at a loss if it goes down faster than you intended!!

And finally, for my "chocolate eating" clients, I hope the chocolate hasn't become too bitter!

Remember students, it is about TRADING PLANS. Trading plans for each and every trade you make, BEFORE YOU MAKE IT. I am not a repair man! I teach you to do the right thing in the right location, YOU have to have the DISCIPLINE and PATIENCE to wait for the right location and then MANAGE your trade unemotionally from beginning to end.

Socially Responsible Local Tip: Public Transportation to Park Silly on Park City's Main Street this Sunday

Happy Trading and Have an Environmentally Cool weekend

Coach Brian