Hi All,
Wild action this morning as the algos went to work grinding up the SPY but stocks were more hesitant to rise. We hit P Long at 21.04 looking for the 1 min mini pup to grind but stopped out at 20.95 when it slipped, out - .09. We immediately hit P SHORT at 20.70 for a nice panic lean to scale out 20.37 and 20.50, out + .33 and + .20. We scaled into MSFT LONG at 45.93avg to scalp 46.02 and 45.91, out + .09 and - .02 as the sellers came in hard. We hit MSFT SHORT at 45.84 for the panic collapse into stinky 5s area to cover 45.55, 45.58 and 45.73, out + .29, + .26 and + .11. We hit P SHORT at 20.16 but got chopped by algo sweeps out at 20.24, out - .08. When the bids dropped again, we scaled into P SHORT at 20.12avg for a breakdown towards the next fib down at 19.82 area. The SPY collapsed hard and P rug pulled finally to scale out at 20.00 and 19.85, out + .12 and + .27 as it collapsed to 19.60s. We scaled into KLAC SHORT at 76.63 and 76.45 to average 76.57 on the shares. KLAC chopped up to the 77.20 area but we didn't get a chance to add as it quickly slipped back under the 15 minute 5 period ma. Both the 15 and 60 minute where sloping down on their 5pd ma's indicating slow distribution. KLAC finally got the 5 minute stochastics to cross down, which triggered the PERFECT STORM BREAKDOWN allowing us to cover at 75.94, 75.67 and 75.52 stinky 5s level, out + .80, + .87 and + 1.01. We scaled into YHOO SHORT at 43.02 avg as it finally broke 43 briefly to allow us to cover 42.94, out + .09, but stopped out the final 1/4 position at 43.18 as the buyers seemed thick, out - .16. Overall was a great morning and week as algos continued to stuff the bids similar to Fall 2011. Closed out the morning with + $1,231 profits.
Closed out the week + $3,743 profits.