As the markets fall more and more going towards Aug.15, I will start ringing my cash register for my short positions. Slow and steady weekly chart trading ....3-6 months of waiting.

Watching the markets here, possibly after this week, the next few weeks/months may be go down...markets starting to feel frothy up here. But you never know "Central Banks / Fed" do have power to prop the market up. Janet Yellen speaks tomorrow.

Watching my portfolio here, and many of my holdings are slowly weakening, that is good for my "short positions" or PUT options. Closed off LB and KORS today.

Slow and steady we go, my positions will begin to work out as the market falls in the next few months. Can't "ring the cash register yet" must wait...that is the nature of trading the weekly charts. BORING, but as long as it is profitable. ;)

Closed NFLX Bear CALL credit spread , loss of $420...will enter into my trade log this weekend. Though Profit.ly doesn't have the ability to enter credit spreads, so I will need to enter each leg seperately, which works too, though more tedious.

Big up move today, the "short side" is being squeezed including myself. Aaaargh !!! Good thing my options are LEAPs, expiring Jan.17. Though a couple of test credit spreads trades will experience a loss (small dent in acct)...darn. Next time, note to self , sell further OTM calls. Oh well losses are all part of trading.

Reviewing weekly charts at home and it looks like, it's downhill now for the S&P, Dow or indexes in general.

It's a long wait since this market rallied for little over a month. Calling the top is a fools game, as in my last post 2 weeks ago, this market upside is strong but seems like losing strength. All we can do is sit and wait if you are "short". Weekly chart trading is "slow as molasses sometimes" but reward is big if done right. :)

Both U.S and Canadian indexes feel frothy at these levels, unable to hold the high levels, base on chart. We could be near the top, but who knows let us see what happens in the next week.