4/29 Daily Commentary

Bought 10% TLT long bond near the close @91.05.
Bought 10% SDS double-short SPX at close @ 28.90.
Exposure 20% SDS and 20% TLT.  Today was I1 peak day which is bearish the following day.  The DJI and S&P futures broke critical support Tuesday near the close, but I did not short on the weakness due to the I1 advancing into today's high.  I shorted 5% at SPX 1196.25 on Wednesday and 5% at DJI 11,145 late this morning.  10% short occurred 2 minutes prior to the close. 
Long bond was bought at TLT 5% 91.08, 5% 90.71, and 10% 91.05.
Positions will be expanded on breaking short-term support tomorrow since we are already on a sell signal from the break of critical support at DJI 1-minute, 380-unit M/A.  The stop associated with this M/A is 10,240 but since this is so close to the old high I will stop out at 11,258 +.15%, or 11,276.
The moving average used to expand the stock shorts is the DJI 150-minute -.31% which is 11,144.  Any break of 11,144 will trigger another 5% short add-on. 

The bond position will not be expanded.  The high in 30-year futures of 118-24 completed a 5-wave up sequence.  Momentum support is at 117-16:

All-in-all I am in a good place and the market has blessed me with an I1 high within a sell signal, so that follow-on shorts do not have to wait for a decline through the DJI 1-minute, 380-unit M/A -1.2%.  This means our average entry is at a higher price and the stop-loss is closer than it would have been otherwise.  In other words, by declining Tuesday and breaking support, the rally off of those lows and into the I1 peak day has given me a better entry point than if the market rocketed into the I1 day.  Thank you, Greece!
I just hope that the market breaks the 150-minute M/A during tomorrows's day session rather than overnight by plunging.