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Posted by btr Tue, 03 Feb 2004 01:35:04 GMT
I hit my head when missing the spike 1131 to 1136! It happened seconds after closing a long position. After lunch, a short worked ok although the target was set at 1135 missing half of the plunge. Oh well, I was not watching the market anyway.Increaded LFC position. It's moving down lately. Likely it may find support at 25, its IPO price.
Closed SUNW position. I may reopn it when it breaks out or continues building base around 5.5 level.
Posted by btr Wed, 21 Jan 2004 01:19:42 GMT
It has caught my attention that ES has been surging in the past half hour or so. If you are patient and wait for this last moment, then go long you would have made money in the past week. I contribute it to institutional buying spree since many prints are pretty big lots of more than 100 contracts.Posted by btr Sat, 17 Jan 2004 00:26:00 GMT
On an option expiration day like today, the market was pretty choppy. Taking quick profits is prudent. The long tails and shooting stars on the candles caused a lot of pain.
I scaled in some 401K money into mid-cap and foreign funds today. I expect the market will be going higher a little while with recent good earnings from INTC, YHOO and GE alike.
Posted by btr Thu, 15 Jan 2004 00:08:52 GMT
ES went up to 1032 before the session close, but it dropped to 1126 after the market close based on INTC and YHOO earning announcements. Both INTC and YHOO dropped more than 3% AH. Buy The Rumors and Sell the News!Posted by btr Thu, 15 Jan 2004 00:08:52 GMT
ES went up to 1032 before the session close, but it dropped to 1126 after the market close based on INTC and YHOO earning announcements. Both INTC and YHOO dropped more than 3% AH. Buy The Rumors and Sell the News!
Posted by btr Sat, 10 Jan 2004 22:27:36 GMT
The volume (judging from SPY chart) was more than 50% higher than average.
It was rumored that a big firm sold a lots of puts to their customers and had to sell ES to hedge their position, thus the big plunge in the last hour.
Since the uptrend line is still intact, Monday's open shall give us some indication of where the market will go. Currently, it's pretty extended. It would make sense if it goes sideway for a few days or a week to ease up the over bought condition. I would not be a buyer at this time. I will look for weakness to short it.
Posted by btr Fri, 19 Dec 2003 22:39:29 GMT
Despite talking of year end rally, I shorted ES at 1087.5 today. Covered yesterday shorts at 1086.
Posted by btr Fri, 19 Dec 2003 22:39:29 GMT
Despite talking of year end rally, I shorted ES at 1087.5 today. Covered yesterday shorts at 1086.Posted by btr Tue, 09 Dec 2003 02:22:44 GMT
It turned out that last night's low 1057.75 was the bottom. S&P 500 rallied back to the resistence level 1070, a few points away from the high 1075. INDU is fewer than 50 points away from 10K. Barring from any surprises, we shall see 10K pretty soon since everyone is talking about it.Covered the short, reversed, and rode through half way, but missed the last leg from 1064 to 1070. Went short again at 1068 and 1069. We shall see some pullback tomorrow morning after this big run up, but so far hours into the new session, the market stays right at 1069.75x1070. The bears and bulls won't blink. The stalemate should resolve in the morning.
Posted by btr Fri, 05 Dec 2003 21:58:23 GMT
Covered one before the employment data release. Covered two later. Still have one short left for the weekend.Stocks gained after investors took heart from stronger U.S. economic data, snapping a three-day losing streak, but finished off session highs after another warning about Europe's sovereign-debt crisis. more
Printing money can't solve global debt problems, says legendary hedge fund investor Julian Robertson. Sadly, it's the overwhelming strategy being used today by global leaders, but it creates tremendous volatility in the market and doesn't get us any closer to fixing our problems. Unfortunately, as l more
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This is a guest post by Derek Devore, an experienced options trader. Find out more about his OptionBoost Video Training Program at http://optionboost.com One of my favorite structures when I’m evaluating a position which is slow moving, but is on its way to reaching a particular price point, i more
Asian stocks drift lower, taking their cue from Wall Street after the US Federal Reserve decides against fresh action to boost the economy more
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The IPO market is really beginning to catch fire with the tech industry partying like it’s 1999. The party lights glowed and the DJ began spinning the beats before the LinkedIn (LNKD) IPO a couple weeks ago and the party will continue reaching a feverish pitch with a Groupon (GRPN) IPO. more