Market view

Well - we had a 7% rally here in September, which is VERY unnormal for such a bad month based on statistics. I collected a lot of TZA for a major swing friday and for today monday it looks like we will gap up higher. SPX MA(200) is near 1115 and we have another big resistance at 1120-1130, so I think today is one of the best opportunities to get some more shorts for a major swing down in the markets. I'm going to add to my TZA position at the opening or an hour after markets opened, will see if we break 1115 SPX and move to 1125 level. Last time in early August I rode the markets down with shorts from 1125 SPX to 1065 where I covered my short positions and got lots of small caps, for now I'm taking profits from 1065 SPX to 1110->1130 level and going to add to major short down again.

I am getting VERY bearish at this moment and I'm going to take rest of profits in other stocks. OXGN had great news today and might be a big runner for today.

I can see lots of negative divergences in the markets and looks like we are in a bearish rising wedge.

I dont believe the upside is good from this level and therefore I am going to stick to my major short position and better stay out of stocks. I still have a few stocks, but sold most, have OXGN, OPXT YMI and so.

I think after this move up we had we are about to get a much bigger move down again and all the gains from September will be completely destroyed. The next move should take us down to 942 my SPX target and probably 900 sometimes in October. So remember its a major short swing trade I take here and will add more as mentioned on twitter that I would add if we move higher. Always a good strategy if you think we are at top, begin adding a short position and if we then move a bit higher then add some more. We are getting very overbought too.

Have a nice day !