Product Indifference

It is important to be product indifferent so you don’t have to play the familiar underlyings when they offer no movement.

On a down day that is outside the previous day range, there are more opportunities for scalping.

Traded LL and VEEV for a nice profit. LL sells hardwood floors, and VEEV is cloud services for the medical community.

These two companies fell hard intraday, and was a decent gap fill play. Flat on both at end of day.

Sold some April UVXY puts as well.

Extremely Bullish on TWTR

Google will probably put in a bid on TWTR soon because Google Plus has not delivered on expectations. Google is in the process of separating out the photo feature of its social network.

Picked up TWTR shares in addition to selling puts.

UVXY and Market Internals

Been day trading UVXY using market internals such as ticks, /ES, advances to declines to indicate when to enter a long position and when to go flat.

So far the test phase has been successful, and it is one of few underlyings that actually act according to how the overall market internals are performing verses doing whatever it wants regardless of how everything else is doing.

Left Lots on the Table

Having a little trouble with my stops, and playing it weak due to too large a size.

Held $SAM and sold for 1 handle, and watched it run up 20 handles. Opportunity loss when it was the perfect entry.

Greece Deal

UVXY got crushed for 7% as the Greece deal was approved for a 4 month extension to get its house in order.

I will continue selling OTM puts at or below 18 as that has been its historic low.

Others to watch is GREK, VGK, and NBG.

Liquidation Break

Experienced my first liquidation break with UVXY as I was watching a long position. It spiked 1 handle in less than 5 minutes.

A liquidation break happens when buyers stop taking shares off the table from sellers, driving a steep markets price decline in a short period of time and only stops when buyers come back into the game as the lower prices present another buying opportunity.

Zillow Earnings Date

Don’t know why Zillow earnings is delayed as it was expected 02/11.

A lot of speculation is that Z is working on completing the TRLA merger before announcing earnings.

If this is the case, then Z will be at the 115-120 range by 02/20.

In addition, Zillow Talk is a NYT bestseller. This would only help Z reach new audiences that may not have been a Zillow user before.

Continuing to sell ATM Z puts in overall bullish market. Plan on buying ATM call debit spreads as well.