September 18, 2013

Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
3D Systems Corporation (DDD, 53.51)
 
My Trade: Oct 13 55.00 Call ($2.13)
My Entry Price $1.75 (9/17/13)
My Exit Target:  $4.00
Return:  +21%
Stop Target:  none
 
Action: See Video Update.
 
 
Green Mountain Coffee Roasters Inc.(GMCR, 85.85)
 
My Trade: October 92.50 Calls ($1.80)
My Entry Price $2.00 (9/16/13)
My Exit Target:  $4.00
Return:  -11%
Stop Target:  none
 
Action: See Video Update.
 
Humana Inc (HUM, $99.60)
 
My Trade: Jan 14 105.00 Call ($3.20)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  +15%
Stop Target: none
 
Action:  See video update

 
AutoNation Inc (AN, $52.65)
 
My Trade: Jan 14 55.00 Call ($2.45)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  -8%
Stop Target: none
 
Action:  See video update

MENTOR GRAPHICS CP (MENT $22.94)
 
My Trade: 500 shares ($22.94)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  -0.1%
Stop Target: none
 
Action:  See video update
 
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
Cheers
 
Nelson Molina
 
 
“If you don’t build your dream, someone else will hire you to help them build theirs.” Dhirubhai Ambani
 
McBillion
 
________________________________________________
 

September 18, 2013

Not Taper Rally!

Thank God the suspense is over. Despite months of hinting that a QE taper would begin this month, the Fed concluded its two-day September meeting with no reduction of its monetary easing (Read press release). The reason? The FOMC just hasn’t seen the kind of economic growth many gurus and pundits have. “The Committee sees… growing underlying strength in the broader economy,”

The S&P 500 traded in a narrow range in the first 45 minutes of the session and then drifted to its -0.26% intraday low during the lunch hour. The FOMC press release sent the index soaring, and Bernanke’s press conference further fueled the rally, lifting it to its 1.45% intraday high. 

Notice that today’s volume was strong, but fractionally lower than the volume on September 10th, six sessions ago, when the index gained 0.73%.
 
I’m sticking to my target stock allocation I have and am prescribing a large dose of caution, we may see a continued rally, followed by volatility and serious profit taking, maybe even a 5% or so correction.
 
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
 
First Solar, Inc. (FSLR, $39.50)
 
My Trade: Oct 13 39.00 Call ($2.46)
My Entry Price $2.30 (9/18/13)
My Exit Target:  $6.00
Return:  +8%
Stop Target:  none
 
Action: Price breakout ascending triangle pattern 1 year daily chart above Fibonacci level $38.47 we got a crossover on directional for the bulls and MACD is heading to cross “zero” line on average volume. First resistance is the 50SMA ($40.92) and after that level Fibonacci $42, a close above 50SMA this week will be bullish for FSLR.
 
 
3D Systems Corporation (DDD, 53.65)
 
My Trade: Oct 13 55.00 Call ($2.13)
My Entry Price $1.75 (9/17/13)
My Exit Target:  $4.00
Return:  +21%
Stop Target:  none
 
Action: Price confirmed Fibonacci breakout $51.66 and DMI and MACD are turning more bullish next resistance is $58.82, price target is $60
 
 
Green Mountain Coffee Roasters Inc.(GMCR, 86.60)
 
My Trade: October 92.50 Calls ($1.90)
My Entry Price $2.00 (9/16/13)
My Exit Target:  $4.00
Return:  -5%
Stop Target:  none
 
Action: Shares retested descending triangle breakout and touched a low of $84.00 before 2pm Fed announcement but managed to reverse from there and finished the day above our momentum indicator DEMA 21.
 
 
Humana Inc (HUM, $96.95)
 
My Trade: Jan 14 105.00 Call ($2.40)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  -14%
Stop Target: none
 
Action:  I talked about how price could reverse from the top of the uptrend channel as it did today; price reversed from the top and finished below the DEMA 21 and 10SMA, Price need to retake those levels before the week ends and keep momentum to the upside to test next Fib resistance $103

 
AutoNation Inc (AN, $53.29)
 
My Trade: Jan 14 55.00 Call ($2.70)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  -1%
Stop Target: none
 
Action:  Price is consolidating after Fibonacci breakout $51.10. All robust indicators are bullish and strong. Keep holding

MENTOR GRAPHICS CP (MENT $22.99)
 
My Trade: 500 shares ($22.99)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  +0.3%
Stop Target: none
 
Action:  Hold.
 
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
Cheers
 
Nelson Molina
Fouder and CEO of McBillion.com
 
“If you don’t build your dream, someone else will hire you to help them build theirs.” Dhirubhai Ambani
 

September 17, 2013

The market had some big things to digest today. Firstly, the Russia-brokered Syria plan continued to ease fears on a military conflict. Meanwhile, Lawrence Summers removed his name from consideration for the next Fed Chief, which was all fine and good for the market since many believed that he might inflict some ‘tough love’ for the economy. But then hanging over it all is the Fed policy meeting on Tuesday and Wednesday, where conventional wisdom is that the tapering of QE will begin. At the end of the day, the Dow was up 0.77% and the S&P increased 0.57%. However, another bad day for Apple helped NASDAQ lose 0.12%.
 
The situation will remain volatile until an announcement is officially made. The whole game of trying to predict the Fed is getting exhausting.
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
Green Mountain Coffee Roasters Inc.(GMCR, 84.51)
 
My Trade: October 92.50 Calls ($1.64)
My Entry Price $2.00 (9/16/13)
My Exit Target:  $4.00
Return:  -18%
Stop Target:  none
 
Action: Price breakout descending triangle pattern but finished the day inside the pattern, we need for price to confirm above today’s high $86.39, Indicators are bullish and strong.
  
Humana Inc (HUM, $99.56)
 
My Trade: Jan 14 105.00 Call ($3.20)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  +15%
Stop Target: none
 
Action:  Shares held $99 today after trading to a high of $99.85. Keep holding

 
AutoNation Inc (AN, $52.20)
 
My Trade: Jan 14 55.00 Call ($2.35)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  -15%
Stop Target: none
 
Action:  Bulls are in total control and We are holding January calls, price is in consolidation mode after the breakout, support is at $51
 
MENTOR GRAPHICS CP (MENT $22.60)
 
My Trade: 500 shares ($22.60)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  -1.0%
Stop Target: none
 
Action:  We expecting price to test $24.50 soon, Indicator still bullish.
 
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
Cheers
 
McBillion

September 15, 2013


FOMC meeting on the 17th and 18th
 
Looks like summer time is over since here in Connecticut we got low temperatures (60F) I want to welcome all the new traders to the group and remember the golden rule here on McBillion: IF YOU SEE SOMETHING SAY SOMETHING!
 
The S&P 500 continued on its bullish momentum and ended up nearly 2% on the week with the DOW logging in its best week since January. That said, while the August decline is likely over we have reached short-term overbought conditions and it’s likely the market stalls next week, particularly heading into a major FOMC meeting on the 17th and 18th.
 
Not much to say just to wait and see market reaction on FOMC meeting Tuesday and Wednesday.
 
I have added new McBillion Premium chart. Please click here
 
FOR THE VIDEO UPDATE PLEASE CLICK HERE
 
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
Facebook (FB, $44.31)
 
My Trade: October 40 Puts ($0.59)
My Entry Price $0.75 (9/9/13)
My Exit Target:  $2.00
Return:  -21%
Stop Target:  $45.60
 
Action: Price finished the week above Fibonacci support $44.31 a DEMA 21 breakdown below $43.96 will confirm downtrend to $40
  
Humana Inc (HUM, $98.24)
 
My Trade: Jan 14 105.00 Call ($2.80)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  0%
Stop Target: none
 
Action:  Shares held $98 Friday after trading to a high of $98.64 we are holding January calls to have more time for this trade to play out safetly.

 
AutoNation Inc (AN, $53.05)
 
My Trade: Jan 14 55.00 Call ($2.68)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  -2%
Stop Target: none
 
Action:  Strong above $53 looks like price is making a bullish flag. Keep holding
 
MENTOR GRAPHICS CP (MENT $23.00)
 
My Trade: 500 shares ($22.86)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  +0.17%
Stop Target: none
 
Action:  Shares traded up to $23.11 and finished the day above $23 which is bullish. Keep holding
 
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
Cheers
 
McBillion

September 11, 2013

Seven Bulls One Bear!
 
The seven-day rally in the S&P 500 ended today when the index gave back a third of a percent of its recent gains, down 0.34% to be precise, which was off the -0.42% intraday low nine minutes before the closing bell. The big pre-open news was a much lower than expected initial jobless claims, but the good news was essentially nullified by word that data from two states wasn’t included because of computer upgrades. Aside from incomplete data on jobless claims, another source of confusion is the ongoing lack of resolution on Syria. And of course it’s not surprising that the market should pause in advance of the September FOMC decision on QE tapering.
 
 
FOR THE VIDEO UPDATE PLEASE CLICK HERE
 
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
Facebook (FB, $44.75)
 
My Trade: October 40 Puts ($0.77)
My Entry Price $0.75 (9/9/13)
My Exit Target:  $2.00
Return:  -27%
Stop Target:  $45.60
 
Action: See Video for Update.
  
Humana Inc (HUM, $97.73)
 
My Trade: Jan 14 105.00 Call ($2.65)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  -5%
Stop Target: none
 
Action:  Didn’t move today and price is holding above $97
 
AutoNation Inc (AN, $53.08)
 
My Trade: Jan 14 55.00 Call ($2.68)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  -2%
Stop Target: none
 
Action:  Strong holding above $53. Keep holding
 
MENTOR GRAPHICS CP (MENT $23.02)
 
My Trade: 500 shares ($22.86)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  +0.17%
Stop Target: none
 
Action:  Shares traded up to $23.11 and finished the day above $23 which is bullish. Keep holding
 
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
Cheers
 
McBillion

September 11, 2013

Today’s session was a lot like yesterday’s price action. After Obama speech last night, it appears that we may avert a conflict with Syria. As a result, the major indices were able to continue their momentum. The S&P gained +0.31% for its seventh straight session in positive territory. Over that time, the index has risen approximately 3.5%.
 
The Dow had another nearly 1% gain as it advanced +0.89%. The only laggard was the NASDAQ, which slipped by a mere 0.11% thanks to a more than 5% drop in Apple. Assuming that nothing irritates the Syrian situation, the market’s next big focus will likely be the Fed’s two day policy meeting next Tuesday and Wednesday, which might include the first announcement of QE tapering.
 
It was a quiet day for the portfolios, but we did a few buys.
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
Facebook (FB, $45.04)
 
My Trade: October 40 Puts ($0.77)
My Entry Price $0.75 (9/9/13)
My Exit Target:  $2.00
Return:  -20%
Stop Target:  $45.60
 
Action:  A move above $45.60-$46 would be bullish and could force us out of
the trade.  A drop below $43 should get a test to $39 in play. 
  
Humana Inc (HUM, $97.97)
 
My Trade: Jan 14 105.00 Call ($2.80)
 
My Entry Price:  $2.80 (9/11/13)
Exit Target:  $6.00
Return:  0%
Stop Target: none
 
Action: Price breakout Fibonacci resistance $94.70 and is heading to $110 inside an uptrend channel, all momentum indicators are bullish, if HUM can close at or above $105 at expiration this trade will double.
 
AutoNation Inc (AN, $53.12)
 
My Trade: Jan 14 55.00 Call ($2.75)
 
My Entry Price:  $2.75 (9/11/13)
Exit Target:  $6.00
Return:  0%
Stop Target: none
 
Action: Price breakout Fibonacci resistance $51.10 and is on a rally mode to Fibonacci resistance $55. Price breakout actually started on last Friday and they put in an impressive follow through yesterday and today. Volume is heavy, which implies strong institutional accumulation. My profit target is $60. If we see $60, that would equate to a roughly 200% gain.
 
MENTOR GRAPHICS CP (MENT $22.86)
 
My Trade: 500 shares ($22.86)
 
My Entry Price:  $22.98 (9/11/13)
Exit Target:  $6.00
Return:  -0.5%
Stop Target: none
 
Action: Didn’t see much volume on options so I decided to go and but share on this monster bull, yes its strong and is heading to $25 there is a wide divergence and minus directional is very low meaning we could see a small pull back where I will add more to my position.

September 12, 2013

So that military strike on Syria might not happen after all. Of course, that's a big 'MIGHT'. Stocks got a chance to get a deep breath on the news, even though they weren't exactly panicking beforehand. The situation is still volatile with an uncertain outcome, but Tuesday’s developments were enough to keep the market on an upward trajectory. The S&P gained for its sixth straight session today, adding +0.73%. The Dow was up +0.85% and the NASDAQ climbed +0.62%. Also participating in the performance was another good round of economic news for China.
 
September was supposed to be the "dark" month. Just like "sell in May and go away" was a bust this year, September is starting out very favorably for the bulls as the major indexes all broke out over their 50-day moving averages. The NASDAQ hit a new 13-year high. The small cap index, the Russell 2000, is just a percent or two away from busting out to new all time highs

Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 

               
Facebook (FB, $43.60)
 
My Trade: October 40 Puts ($0.77)
My Entry Price $0.75 (9/9/13)
My Exit Target:  $2.00
Return:  +3%
Stop Target:  $45.60
 
Action:  The bulls are losing momentum at the top but there is risk at $45. I am expectin a drop to $41, $40
  
PowerShares QQQ Trust (QQQ, $77.83)
 
My Trade: September 78 Calls ($0.63)
 
My Entry Price:  $0.70 (8/14/13)
Exit Target:  $2.00
Return:  +10%
Stop Target:  $74.50
 
Action: This trade was down 70% and today’s price action confirmed Fibonacci breakout at $77.43 MACD and DMI are bullish, this are September calls so we don’t have much time be ready to get out soon.
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
 
Cheers
 
McBillion
 
________________________________________________

September 8, 2013

The tension is building again in the market where the bulls have the ball and no one believes they can really do anything with it.
 
I love those situations. It has been one of the best trades all year.


 
The thing about walls of worry is that they get more deeply discounted the more they are discussed, debated, and defended. Taper, Debt Ceiling, Syria, etc all seem fairly well priced-in to me. At least that's what market sentiment and price action is telling me.
 
Can prices still go down there without those stalwarts selling? Of course. All it takes is a net buyer's strike and bears, profit-takers, systematic short-sellers, and algo day-swingers to push the market down through support with momentum.
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
Ciena Corp (CIEN, $24.15)
 
My Trade: Octuber 24 Calls ($1.42)
My Entry Price $1.30 (9/5/13)
My Exit Target:  $3.20
Return:  +10%
Stop Target:  $23
 
Action:  Price held its gains above $24 and is getting momentum with ADX above 25, next resistance level is 25.
 
 
Apple Inc. (AAPL, $498.22)
 
My Trade: September 525 calls ($2.06)
My Entry Price $3.10 (9/4/13)
My Exit Target:  $4.20
Return:  -33%
Stop Target:  none
 
Action:  Price is a the top of the bullish flag and looks strong for a run to $514
 
SanDisk Corporation. (SNDK, $58.34)
 
My Trade: October 60 calls ($2.08)
My Entry Price $1.90(half) $1.70 (half) =$1.80
My Exit Target:  $4.00
Return:  +15%
Stop Target:  none
 
Action:  We were looking for a close avove 50SMA but price finished 3 pennies below, this is the 3rd Heiking Ashi candle without shadow meaning momentum is for the Bulls.
 
ProShares Ultra DJ-UBS Crude Oil (UCO, $39.61)
 
My Trade: September 40 calls ($1.33)
My Entry Price $2.30 (8/28/13)
My Exit Target:  $4.20
Return:  -42%
Stop Target:  $38
 
Action:  Price is inside an uptrend channel and above Fibonacci support, directional made a “V” shape pattern Friday with bias to the upside.
 
  
PowerShares QQQ Trust (QQQ, $77.43)
 
My Trade: September 78 Calls ($0.36)
 
My Entry Price:  $0.70 (8/14/13)
Exit Target:  $2.00
Return:  -48%
Stop Target:  $74.50
 
Action: Price is getting close to Fibonacci resistance $77.43, ADX is at 12 where it was in May when price run from $66 to $75.
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
 
Cheers
 
McBillion
 

September 4, 2013

The Bulls are back.
 
I believe the market is more likely to continue to go up than down over the remainder of the year. That said, the market is being buffeted by a number of strong headwinds. 
 
The Syrian crisis tops the list, with the expected outcome changing almost hourly. Surprises have been frequent. The British decided against involvement. President Obama decided to go to Congress.  Congress is waffling as usual, but Obama is getting a little more support than initially expected.
 
War is never a good thing, but markets usually acclimate rapidly to the reality of whatever occurs. 
 
But despite all the chaos and problems, money must go somewhere. We know that long-term interest rates will continue to rise over a significantly long future. With bonds falling, money will surely flow, at least to some degree, more to equities and less to fixed income.
 
Corporate America in the aggregate has a war chest of cash to invest in growth and will do so because that is what businesses are built to do. For now Lets  keep trading according to price action only not news.
 
 
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
 Apple Inc. (AAPL, $498.69)
 
My Trade: September 525 calls ($2.78)
My Entry Price $3.10 (9/4/13)
My Exit Target:  $4.20
Return:  -10%
Stop Target:  $38
 
Action:  We got a second Heikin Ashi Green candle today and plus directional is the lead with ADX at 34 meaning strong bull with high probabilities to breakout $514 them $520.
 
SanDisk Corporation. (SNDK, $57.14)
 
My Trade: September 525 calls ($2.78)
My Entry Price $3.10 (9/4/13)
My Exit Target:  $4.20
Return:  -10%
Stop Target:  $38
 
Action:  We got half position on SNDK calls for $1.90 at Fibonacci $57.57 breakout however price action intraday breakdown and We got the other half at $1.70. DMI and DEMA crossover is bullish there is resistance at $58.40 (50SMA)
 
 
ProShares Ultra DJ-UBS Crude Oil (UCO, $37.87)
 
My Trade: September 40 calls ($0.93)
My Entry Price $2.30 (8/28/13)
My Exit Target:  $4.20
Return:  -59%
Stop Target:  $38
 
Action:  Price keep holding above our Fibonacci level $38.50, We need a finished above DEMA 21 $38.40 to see some momentum on the bull side. We already see how volatile this stocks is so be patient if Oil price breakout 108 them UCO can get to $45 and our trade to $4
 
 
  
PowerShares QQQ Trust (QQQ, $76.71)
 
My Trade: September 78 Calls ($0.39)
 
My Entry Price:  $0.70 (8/14/13)
Exit Target:  $2.00
Return:  -44%
Stop Target:  $74.50
 
Action: Price is coming back strong, bulls are in control however ADX still below 20 meaning momentum still weak. Keep holding
 
_____________________________________________
 
Other 2013 OPEN positions (1):  These are trades that are still open in the portfolio but are down over 50%.  I still keeping track of the trades and I will record the results when we close them or if the options expire. 
 
 
Intuit (INTU) September 60 puts ($0.20) (from August 2012)
  
 
 
Cheers
 
McBillion

September 3, 2013

GOODBYE AUGUST, HELLO SEPTEMBER!

 
 
The jury is still out on whether the US will attack Syria, whether it will do it unilaterally or as part of a coalition (with France) now congress is part of the Game and the day for a possible decision is September 9, 2013 very smart Obama! Technically price is right at major support levels and it can rally to all the times highs again, really? It doesn’t sound right but I follow price not fundamentals so this gap an up tomorrow can happen.
 
 
Do not risk more than 5% to 10% of your trading account on any one trade but do try to take ALL of the trades.  I will send out a "Profit Alert" or "New Trade" if I close a position OR if a new trade comes out. 
               
 
 
ProShares Ultra DJ-UBS Crude Oil (UCO, $38.22)
 
My Trade: September 40 calls ($1.20)
My Entry Price:  $2.30 (8/28/13)
Exit Target:  $4.20
Return:  -46%
Stop Target:  $38
 
Action:  Price breakdown our support $38.21 but finished a penny above this levels is not clear if this a Fake breakout or if price is just retesting the breakout.
 
 
Intuit (INTU, $63.53)
 
My Trade: September 60 puts ($0.28)
My Entry Price:  $0.70 (8/20/13)
Exit Target:  $1.20
Return:  -60%
Stop Target:  none
 
Action:  50SMA still support as you can see DMI and DEMA still bearish but bulls are holding price very well. I keep holding since the market still bearish/
  
PowerShares QQQ Trust (QQQ, $75.47)
 
My Trade: September 78 Calls ($0.23)
 
My Entry Price:  $0.70 (8/14/13)
Exit Target:  $2.00
Return:  -67%
Stop Target:  $74.50
 
Action: I keep holding this position as long as $74.50 (50 SMA) holds. Price is moving slow above $75 with not much strength. Keep an eye on ADX right now at 14, between 11 to 10 price always pullback hard either way.
  
 
 
Cheers
 
McBillion