Trades for Wednesday, May 17, 2017: + $784 Profits

17 May Trades for Wednesday, May 17, 2017: + $784 Profits

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9:36 – SHORT 500 JACK 111.76avg, COVERED 400 at 111.10, out + .66, COVERED 100 at 110.85, out + .91            =          + $355

9:52 – SHORT 400 JACK 109.80avg, COVERED 400 at 109.66, out + .14       =          + $56

10:01 – SHORT 600 JACK 109.64, COVERED 109.44, out + .20          =          + $120

10:21 – BUY 1000 JPM 85.51avg, SOLD 85.58LIMIT, out + .07          =          + $70

10:33 – SHORT 200 JACK 109.58, STOPPED 109.86LIMIT, out - .28  =          - $56

10:37 – SHORT 500 JACK 109.55, COVERED 400 at 109.12, out + .43, COVERED 100 at 108.88, out + .67 =            + $239

Total Intra-day P/L:   + $784 Profits

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Summary

SPY got grinded down this morning on the daily mini inverse pup. The followthrough on the downside was impressive. We spent most of the morning hitting JACK SHORTs from all levels as it completely faded an opening perfect storm breakout anchored by the 15-minute mini pup. That is a sign of massive sellers in the wings. We scalped some lunch money on JPM reversion to the fib but selling was too strong across the board. Closed out the morning with + $784 Total Profits.