Flatline Friday? Economy and Markets on Hold

Our charts predicted a flatline and a flatline is what we’re getting! I do so love it when a plan comes together ( see David Fry’s chart ) .  In yesterday morning’s post I predicted that bad data would send us down at 10 am and I rushed out our first Alert to Members at 9:37 with a call to go naked on our DIA Mattress play, which effectively flips our portfolio bearish and we even added the QQQQ July $46 puts at .85, which we exited just one hour and four minutes later at $1.05 (up 28%) as we 1/2 covered our Mattress Plays back to neutral .   We do a lot of day trading on options expiration week - taking advantage of the lower premiums.  As I said I would in the morning post, we shorted gold at $1,250 and we even shorted AAPL for a nice, quick gain before stopping out.  At 10:37 I had already said to Members: " I’m done with short plays here.  Not going long but that’s a lot of money already and I’m not greedy.  We’ll see if we hold this 1% dip first, " meaning we got the 1% pullback we expected on our 5% rule and we know not to be greedy with our day trades!  At 10:57 we flipped to TNA June $47 calls at $1.20 and we rode those up to $1.60 (up 33%) at 11:54 but it was our TBT short put play that made me the most happy as brand-new Member Flipsiceland told me at 12:12: Thanks Phil, just paid for my 3 month ‘prescription’ for the members service, in one and half hours . That’s what I really love about my job, as it says on our logo :  High Finance for Real People - Fun and Profits!  We love making profits and we also like to have fun while we’re doing it…  The fun didn’t stop there as we had a nice winner on OIH puts, Copper Futures long and we hit the turn on the nose as I warned Members at 2:25 that: " Volume is very light with just 80M shares on the Dow at 2pm so VERY stickable but I would have to short into a stick save at this point as we shouldn’t be going up other than some desperate window dressing that can be quickly unwound " and at 3:19 we hit the turn almost on the nose as I said to our Members: " Volume at 3:15 is 99M on Dow, still super-stickable so take those short profits! " JRW…