After yesterday's big falloff, markets opened with continued weakness in the morning.  We started locking in profits in the afternoon, after lunch, on the downside plays.  Our timing was just about perfect!  Here are the closed trades for today:

We briefly traded BIDU puts yesterday and went back in today for an intraday +48% gain.  Our POT puts from Tuesday rendered gains as high as +69%!

The Ecstatic Plays portfolio continues to grow at a fast pace.  It's been 2 days and 2 months and it's up +111%!  Click here to see more.

After we took profits on our downside plays, I sent out some instant messages to my members:

Happy Trading HappyTrades
market
testing 1930...

12:00 PM - October 02, 2014 • 9 hours ago • Premium content

Happy Trading HappyTrades
take it easy for now...

12:02 PM - October 02, 2014 • 9 hours ago • Premium content

Sure enough, markets started to bounce right after.  This bounce was quite impressive actually, with SPX coming all the way up to test 1950.  That's more than 20 points intraday, as SPX traded as low as 1926 today!

The Dow closed down 3.66 points; SPX was flat; Nasdaq gained +8.11 points:

SOXX (semiconductor) and BTK (biotech) were among the losing sectors today.  OIH (oil services) stayed weak.  FDN (internet) bounced back to positive.

SPX

SPX was flat for the day at 1946.17.  The MACD and daily MAs slipped.

Nasdaq

Nasdaq gained +8.11 points to close at 4430.2.  It fell to as low as 4367.74 and bounced back!

It looks like the market is positioning itself in a neutral zone ahead of tomorrow's job report.

Here are some interesting stocks on my radar.  TSLA was up +4.65% today as the company's CEO Musk sent out a teaser message unveiling "the D".  Interesting move.  We'll be keeping a watch on this.  GPRO has been rising non-stop, and has doubled in a month, from about $45 to as high as $93.7!  With a two-day pullback, GPRO traded as low as $79.13 today and closed at $85.46.  MBLY is shaping up really well, up $2 today.  CREE tumbled 12% today after it gave a revenue warning.

Tomorrow should be another volatile day with jobs report coming out.  Given how strongly the bounce was today, I'd be careful chasing downside trades if the market gaps lower.  However, if the market gaps up, it will be very interesting!  Please stay tuned!

Good night and HappyTrading! ™