Sometimes Hold Sometimes Daytrade

The market showed theoretical Dow tops of 10,676 and bottoms of 10,560.

The upside actually held, after a nice drop in the a.m. allowing traders to gain entry to the August OEX 520 Call as low as 2.70.
Day traders sold this to 3.30 before noon.

Others will hold this position in their open signals, following prior instructions.

We continue to see a strong resiliency to the bull market, and a fair chance we'll pass the Fibonnaci lines at 10,746.
And, there's a 40% chance the reverse will take place, and we will first sell off, likely to near 10,400.

The same holds true for our new August OEX 490 Put, available below prior day close as low as 2.45.

The bulls want to continue. We're watching both Gold and Silver and listening to the talk of summer rally.

For those of you asking how we "sometimes hold, or sometimes daytrade," this depends on YOU, your option goals, and the amount of time you would spend watching charts.

Using the .60 profits available on the call in late morning trading. By itself this is very little, and often not worth the effort.

However, done numerous times a day, or a week, and in a year this how day traders make a living.

Meanwhile, we hold two open signals. Consider tight profits, or hold for the bias. The count remains with the call.