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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 fell Monday, retreating after last week's big rally, as investors digested President-elect Barack Obama's stimulus plan, monthly auto sales and surging oil prices. more
Nasdaq launched its clearinghouse for interest-rate-swap futures, aiming to sell equity stakes in the new market. more
I’m shutting things down for the year. Look for posting to return to normal around the middle of January, just in time for earnings (& losses!) season. Post from: Trader Mike On Hiatus more
Asian markets were mostly higher Tuesday, with Japanese stocks struggling to hold on to early gains spurred by recent weakness in the yen, while Hong Kong shares retreated on telecom firms such as China Mobile after a strong recent rally. more
In the first two days following the cessation of Russian gas supplies to the Ukrainian market on January 1st, there were no reports of a fall in deliveries of Russian gas to European countries via Ukraine. Since January 3, however, a number have been affected: Poland, the Czech Republic, Bulgaria, R more
As the bear market becomes situation normal, successful investing has become more a matter of "my stocks are down less than your stocks." But should it be? The old adage is that any fool can make money in a bull market and we saw that writ large over the past couple of years. Making money in today's more
Lots of significant reversals among the 125 ETFs I follow for the newsletter. Perhaps most importantly, the system is finally selling the 7-10 Year Treasury Bond Fund (IEF) which it has been long since November 2007. Friends in Canada and Australia should know that the system is covering shorts in more
Market barometers and the daily worksheet will be uploaded a little later than usual tonight. Daily observations will feature a look at Intel for everyone. more
I hope the holidays were good for you and your family. I was able to take off one week for travel to visit with Mom and extended family, but the rest of the time was spent at the trading desk... more
Within the carnage of the 2008 IPO market, we have an announcement of a new IPO filing here at the end of the year that will surely generate some interest (maybe curiosity is a better word) as we head into 2009. FriendFinder Networks, formerly Penthouse Media Group (before Penthouse bought the Frien more
The yen weakened overnight and oil and commodity prices rose, boosting Asia Pacific shares which rose for the ninth day in a row – the longest series of consecutive daily gains since for the MSCI Asia Pacific index since August 2004 more
Well, it’s that time of year. Everyone is reflecting back on 2008 and making trading plans for 2009. This trading goal post from Jack from rmultiples got me thinking again about some good advice on goal setting I heard from my track coach in college. Instead of coming up with a single, succe more
The more
Ending the blockade in return for a ceasefire remains the best option for both humanitarian and strategic reasons. But the longer the bloodshed goes on, the more both sides in the conflict will be sucked into a logic of revenge and retaliation, writes Gideon Rachman more