You create your own luck

Today the market was very volatile, specially around 2:15PM, up the first 10 minutes, and then down the next 10 minutes. Eventually the market closed flat.

After hour, RIMM had a great earning and announced 3 for 1 split, up 29 to 194 in AH.

1. I lost more money this year in RIMM puts than any other positions, and I sold RIMM puts one month ago. Now I can feel the pain lot of shorts feel right now. Will lost another great percent tomorrow.
2. This is the lesson I learned, I will never ever short hot stocks, no matter how overvalued they are. Yes, if you catch the end of the move, you'll make a fortune, but if you don't, you'll lose all.
3. And stocks like BIDU continued its push, now at 162. Don't touch it.
4. You make your own luck, so don't complain, don't focus on a few stocks.
5. Change if it's not working, learn from painful lessons, that's the only way to make money in the stock market.

Today's action:

1. Today I did't have chance to sell the IWM puts and SDS I bought yesterday. I thought I could sell them early in the morning for a profit, and add them later after Fed spike. I was wrong.
2. SDS is OK, but the IWM puts dropped while IWM was flat. I don't understand this, maybe the ^VIX was off, maybe people were just too confident that Fed would deliver again.
3. I added IWM puts again when market was up, then again after Fed and the Nasdaq was up 0.7%. Since the market closed flat, these puts I added today are ahead, but yesterday's put are underwater.
4. Also added TWM today. I sold my TWM yesterday at 63.40, today bought it back at 61.5. Also bought MZZ. I like TWM and MZZ better than SDS on the way down. These newly added short ETFs were profitable as well.

Today's market:

1. Today's market action is good for bears, it could not move higher after one snap back rally.
2. I think either it will consolidate, or it will move lower. To retest 1490, and then 1460 is a very likely path in July for S&P500.
3. Of course, a few bounces along the way.
4. S&P could not regain its 50MA and made a shooting star today. DIA closed above 50MA, also made a shooting star. Nasdaq is the strongest recently. Russell 2000 is the weakest among major indices. They all made shooting star today.
5. The market is still on the edge, both bulls and bears are nervous, today bears won a small victory, considering bulls pushed it up all day long.
6. Checking last two weeks, bears gradually gained control over bulls, with S&P500 broke down 50MA and stayed down for 5 days in a row. Since it's the main index, I think it will carry Dow and then Nasdaq with it, heading lower into summer.

BX and ISEE indicator:

1. The BX indicator once again showed its magic, it's up all day long with light volume, then it closed in red for 4th days in a row! This is the largest IPO since Google, that tells us something.
2. ISEE jumped from 116 (yesterday's close) to 171 after 12:30(MST), and closed at 152. It's a bearish divergence and we should head lower in the near future. Seems like too many people were betting a great rally after Fed, so the market should go the opposite way.