Weekly: Waiting for the Fed

It is a quiet week for me. Many of the new trades involve Costco. Fed may raise rates on Wednesday. Oldtimers will remember "Three steps and a stumble," made popular by Marty Zweig and others. Under this system, the third rate hike was a sell signal. 

Personally, I am still looking for the transports to turn down first, and also an inverted yield curve. Though market action tends to be the main thing. If and when the 50 day and 200 day moving averages are broken to the downside, I will tend to be much more defensive.

Here are the trades: (p = puts, c = calls, sell means sell-to-open, number at the end is price per contract).

Mon Sell COST Mar 172.5 c 28

Wed Sell COST Apr 180 c 21

Sell GS strangle: Sell GS Apr 220 p 78

Sell GS Apr 295 c 18

Thu Sell COST Mar 170 c 22

Sell XLE Mar 72 c 08

Fri Sell COST Apr 175 c 50