The market is too volatile, not a easy one for either bull or bear. I stay in the cash all the section without any position. The SPX index was up in the first half hour trading, then down dramatically to 1305. If it was the opportunity today, then I could long SPY call from 1307 for maybe a 20 percent gain. But this required a very good exit point and not greedy to gain a lot up to 1315. Based on the face tweet, he short the market from SPY=132. Now it looks a very good short entry point. I am not confident to open any position for today. Patient!!!! Train myself before resuming any real trading.
Today for the paper money account. I closed my PPO put for maybe 1000 gain. Geez, that is fake money, wish it is real trading money, LOL. I also open the June SPY put from spy=131.80. I am thinking to close the SPY put tomorrow morning once the market is gap down.
Tomorrow the employment number will come out, which has the tremendous impact on the market. I wish to see the market gapped down to 1300-1305 based on the bad news. Then I will buy at the support for a bounce. That is the trading plan, hope I can see it.
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