2/11 - 2/19 Day/swingtrades

Anyone want to buy a few hundred UYG Feb 3 Calls?! Barring some overnight BS like back in October, I'll be left holding the bag on those calls as they expire tomorrow. Alas, I had high hopes for a market rebound but the trend is still down. My only consolation is that I capped my loss with the Calls vs. the stock. Looks like this market will continuing drifting lower. The problem with all these attempts by our government to stabilize the markets is that the window of opportunity has come and gone. The market won't rebound until we start to see the economy stabilize which won't happen for at least another 6 months. In the mean time, no one wants to put their money to work. Every day the market drifts lower, middle America will continue moving to cash. It will take a significant intervention for those same folks to think, "We'll be okay. After losing over 50% of my account last year, I think stocks are the best investment now...". Fogettaboutit!!!

I've been in daytrade mode the past week. FAZ has been the vehicle of choice with a few trades in POT. I've included the POT trades but the FAZ trades are too many and the chart would look pretty messy:

POT - I started yesterday with POT Feb 60 Calls as it broke the opening range. I took partial profits on the first spike and closed the position on the second spike when the momentum tapered off into the close. However, I decided to go with OTM Feb 85 Calls for an overnight which didn't gain that much despite the gap open due to the high premium on the calls. Later today, I picked up puts when the market traded lower and POT could not hold the 84.00 support level.

AZO - How the heck is this pushing a 52-week high? I guess Eddie Lampert is doing something right. Actually, autoparts generally do good during recessions as everyone would rather save money and fix up their clunker than splurge on a new hot rod. I would not look to short this new leader here. Any short-covering rally and this will be the first to sky rocket.

ESI - This was the options expiration play of the day. I wish I took this trade. The Feb 120 Puts traded in a range of $1.00-15.10. I'll be looking for these types of moves tomorrow if the market falls apart or has a huge rebound.