Tuesday, May 12, 2009

Running late

Will post updates in comments shortly or another post. If not keep this for comments for the day =)

20 comments:

  1. wow just looked at futures. They went crazy overnight. Based on what I am seeing we have more upside chances then downside from here. Get ready for a break of 920 today to run the top one more time.

    While I do not think we can break it here I will know once we break 920 if we will make a new high. Again option expiration this week, we "should" stay within existing ranges here.

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  2. get ready for a new high today. I know its a contradiction to my previous statements but you have to respect the market.

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  3. samalamadingdongMay 12, 2009 at 10:10 AM

    you smoking some bones chaugsy

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  4. well, overnight action definitely fooled me here on this one. Broke an important range here. Lets see if 900 can hold but I see 890 at this point before >912

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  5. samalamadingdongMay 12, 2009 at 10:32 AM

    i think we hold 900

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  6. I thought so to but was not willing to risk my 12 contracts on it. Stopped out break even with a 901.25 entry.

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  7. 3 long attempts this morning from me. All at "perfect" bottoms so it was easy trade since stops were always break even.

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  8. samalamadingdongMay 12, 2009 at 10:55 AM

    chaugsy - what do you think of c-period lows?

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  9. samalamadingdongMay 12, 2009 at 11:34 AM

    we going to hold chaugner?

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  10. Not doing anything. Did my day trade long attempts for 5 pts this morning. All failed. Staying with SDS position.

    Waiting for market to break out of a range here before looking for a new setup.

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  11. also have SRS and SKF on my list of things to add soon.

    Also holding "GEW UN", waiting to add more to it.

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  12. FYI my portfolio will not be seeing anything starting with "FA..."

    Rather pick specific stocks and get my own time/price window via options to be more precise.

    Most options I am looking for August/September expiration as they are quite cheap at the moment.

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  13. one more try. Long ES 894.25

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  14. Do you think financials will keep tanking or we going to see a bit of a bounce back up?

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  15. not sure to be quite honest. 890 is a key range. We also have DOW 8200 to deal with soon here. Both of them should provide enough support to get a sizable bounce to be able to get into shorts with better protection.

    Will be adding SRS, SKF and GE options on the bounce of those levels. We have not quite reached 890 yet so I expect this bounce here to be rather short term. (we held last week tuesdays low on SPY), got monday last week left where we should see a bit more buying step in.

    And yes I do expect financials to tank very soon. But I do not think its the time to get in short heavy here. We should not get too excited about 2 days in the red (if we close red today).

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  16. Now that we had our 2 down days, lets keep up with 3 more up days to follow ....

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  17. samalamadingdongMay 12, 2009 at 4:31 PM

    chaugsy when did you become a bull?

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  18. exited all SDS at 900 today and went all in with spy calls & ES contracts long !!!!!

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    I am just a frustrated bear that sees his position in the green for once just to wave good bye to it again to see more reds.

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  19. second day in a row that I made more money on the long side then on the short side. Something is wrong.

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