Budget Deficit tops $1 trillion for first time.

Budget Deficit tops $1 trillion for first time. (AP News)

This goes along with the email I sent yesterday.

SUN

Bought a position in SUN @ $22. There are bullish divergences on the stochistic, MACD and directional. The refiners have been way oversold.

I have placed a stop at $21.45 which was Wednesday's low (07/08). Looking for a target to $26. Adjust stop to $24 if we reach $24 or higher to lock in profit.


CLICK CHART TO ENLARGE

SPY

Sold to close position SEPT SPY88 PUTS SZCUJ @ $5.15 for 18% GAIN.

SPY

Bought to open half position SEPT SPY88 PUTS SZCUJ @ $4.35. Will add other half if we close again below 200 moving average. This is an insurance policy in case of a drop down to $85.00ish within the next couple of weeks.

SRS

Bought to close all SRS AUG18 PUTS @ 95 cents for a 18% GAIN on the close.

Just felt like covering my position and will look for possible re-entry later in the week.

Statement by Chairman Gary Gensler on Speculative Position Limits and Enhanced Transparency Initiatives

Below is a link of the CFTC's initiatives regarding commodity futures. This might change the way ETF's are traded. We will wait and see.

• http://cftc.gov/stellent/groups/public/@newsroom/documents/pressrelease/genslerstatement070709.pdf

UNG

UNG - US Natural Gas Fund has been halted. Look at the volume in June. That could explain the halt.

From prospectus:

• Liquidity Risk - The risk that the market cannot accommodate an order to buy or sell a security in the desired timeframe, or the risk that trading on a stock exchange may be halted because of market conditions.

Issuing more shares: click here for news link

UNG

UNG Halted

Mid-day News Update

Big banks don't want California IOU's (WSJ)
Oil, Gas Market Speculation May Face Restrictions (Bloomberg)
Delinquencies on Home-Equity Loans Reach Record (Bloomberg)
U.S. House May Include Surtax on Wealthy in Health-Care Package (Bloomberg)
Alcoa's Kleinfeld Say Aluminum Usage Recovering in China, U.S. (Bloomberg)
U.S. must be open to second economic stimulus: Hoyer (Reuters)
U.S. consumers fall behind on loans at a record pace (Reuters)
Banks don

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SPY

Sell to close SEP SPY90 PUTS SWGUL @ $5.20 for a small GAIN. $$

Underlying: getting gummed up here; hitting major support at the Daily 200. Will re-evaluate towards end of day for entry again.


I am still net short the market with SRS naked or cash secured puts and GS PUTS. Just want to see how this head and shoulder pattern will play out.

More NYSE and GS shinanigans...ooops!!!

"We Screwed Up" (ZeroHedge.com)

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SRS Trade Update

UPDATE:

Order filled.

Sold to open SRS AUG18 PUT SAKTL @$1.10 . Added more for a position avg of $1.17.

Link to original post: Click here.