beartard

Yes, I am.
Friday afternoon I sold another 1/3 of my calls short in my bear call spreads in the NDX & RUT. I still don't have a sell signal but the huge 3 day ramp last week seems overdone. I also bought some NDX puts this morning on the opening pop & some Aug. DIA 137 puts. I hate the time decay. I doubt these trades will work out but my stop loss is pretty tight here, and I do have a 60 minute chart sell on the DIA.
I get myself in trouble when I try my discretionary trades. What I am trying to do is limit my discretion on entries and exits. For a not very accurate example: I get a buy signal on a shorter term chart (60 minutes for me) on the NDX. If the NDX is at 1900 I may sell one of the NDX front month 1975 calls for 15 and buy 3 of the 2025's at 5. Then the NDX rallies to resistance around 1930. I may short another NDX 1975 call at 20. If the NDX rallies further I lose some money and cover one of the NDX 1975 calls. If we rally a bit and I get a sell signal I short my third call at whatever the NDX price is and wait for a buy signal to cover 2 of the NDX calls.
Some weak points here are the true value of my indicators.