tag:blogger.com,1999:blog-5888907630242568925.post1122982215782769641..comments2023-06-05T04:15:43.212-04:00Comments on Money Money Money: We pushed alrightchaugnerhttp://www.blogger.com/profile/16378543210029732358noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-5888907630242568925.post-42262041003518619882009-04-17T18:26:00.000-04:002009-04-17T18:26:00.000-04:00I agree. It is not worth chasing exact top or bott...I agree. It is not worth chasing exact top or bottom. I got burnt and sold my FAS too early when I got it at 2.41. since these do not have expiration date, one could hold and play intermediate term. Upside is limited, fundamentals are scary and manipulation can go on for only so long. How can a wrong multi trillion dollar bet be resolved so quickly. that is my thinking.samamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-30893904207474123492009-04-17T18:15:00.000-04:002009-04-17T18:15:00.000-04:00* cut through it like butter (not better)* cut through it like butter (not better)chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-54769668324010465392009-04-17T18:14:00.000-04:002009-04-17T18:14:00.000-04:00indeed, better then my average =)
though in the b...indeed, better then my average =)<br /><br />though in the big picture of things, once we sell at 90+ a few bucks won't matter much, but still nice to know you got in as close to the top as you can.<br /><br />If you would have told me yesterday that we would retest the 871 and not even flinch and just cut through it like better I would have called you crazy.<br /><br />Interesting times we are in at the moment, we will be talking about this for quite a while to come.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-31454081662183206672009-04-17T18:12:00.000-04:002009-04-17T18:12:00.000-04:00Nice entries!Nice entries!schismatichttps://www.blogger.com/profile/16041636923976988984noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-34649454333686578392009-04-17T15:54:00.000-04:002009-04-17T15:54:00.000-04:00got in SRS 26.44, FAZ 8.65, SDS 65
let us see wha...got in SRS 26.44, FAZ 8.65, SDS 65<br /><br />let us see what happens next weeksamamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-16662042035433188912009-04-17T14:36:00.000-04:002009-04-17T14:36:00.000-04:00I see ascending triangle, broke down and went up. ...I see ascending triangle, broke down and went up. I think we have seen the HODsamamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-12551646314965812412009-04-17T14:28:00.000-04:002009-04-17T14:28:00.000-04:00Chris,
Do you expect to see a sell off at close...Chris,<br /><br /> Do you expect to see a sell off at close?dingdongnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-75127030096652663252009-04-17T12:56:00.000-04:002009-04-17T12:56:00.000-04:00i thought i saw an ascending triangle formation bu...i thought i saw an ascending triangle formation but i was wrong...got to the top of the day but no further.adamnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-47903141407726624102009-04-17T11:00:00.000-04:002009-04-17T11:00:00.000-04:00Thanks for all the insight :-)Thanks for all the insight :-)dingdongnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-13078391742586791902009-04-17T07:56:00.000-04:002009-04-17T07:56:00.000-04:00Great quote here again that I am sure many have he...Great quote here again that I am sure many have heard. "the market can stay irrational longer than you can stay solvent"<br /><br />So to prevent this craziness good money and risk management is needed. We all feel that this is just a bear market rally here, are we too early to the game? Possible; will you ever catch a perfect top or bottom? Nope<br /><br />However, if you stick to your beliefs, even if the trend goes against you short term, you can still make money.<br /><br />Of course the easiest is to wait for final confirmation. I mean why are we shorting into a rally here? think about it. Why risk those 20 points when you can just wait until we break the lower end of the wedge to slowly scale in.<br /><br />For my SDS I have a long term target, 3 months most likely. From 860 to 480, that's almost 400 points. Why worry about 20-30 points on the top when that only represents a small portion of the total gains to be had? - well, quite honestly, because we can, while this is a bad reason it is important to manage those entries correctly if you go against the trend and use leading indicators (instead of trailing indicators). Just different risk profiles and money management strategies.<br /><br />If you can have a proper strategy that can protect be protected, even if a short position experiences a draw down of 10+%, well then you good to go.<br /><br />The other thing I like about trying to get a better top is the ability to manage stops correctly. At the current time the mental stop in my mind is 880. If you were to scale in at lets say 820, you have to assume a much larger risk margin in case the market reattempts the upper range.<br /><br />If we break 880 of course I may change my short strategy due to the 912 as the next level. Probably add stronger hedges, take some off. But we have some room to go still.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-26087492039480367132009-04-17T07:21:00.000-04:002009-04-17T07:21:00.000-04:00thats great! thank you. this market is enough to ...thats great! thank you. this market is enough to make my head spin! when bad news isnt quite bad and when good news isnt all that good! <br /><br />thinking of adding to SDS position but dont want to be caught out if the market turns so keeping a close eye on it. thanks again for your insightful commentary, much appreciated!Adamnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-89341803562038637872009-04-17T07:10:00.000-04:002009-04-17T07:10:00.000-04:00we have a few scenarios today. Option expiration f...we have a few scenarios today. Option expiration friday normally means sideways. However we have earnings to deal with and the market is liking what GE and C announced. That means we can have one last chance at the 871-878 range here.<br /><br />Either rally right off the open, to hit this point early morning, or remain rather sideways. Keep in mind we have GM news as well.<br /><br />Regarding 8200 on the DOW, yes this is a very important point but could easily be taken out if we have frenzy buying here. Very possible, too many variations today and lack of "order" - which is to be expected.<br /><br />I am staying with the SDS position, add more if we get back into mid 870 range here. At the same time going in a bit stronger on the long side if we get crazy buying. The goal is to even out both positions today to walk away without any losses even if we have a major up day.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-56094976637708477962009-04-17T07:06:00.000-04:002009-04-17T07:06:00.000-04:00thanks, in the current climate is there such a thi...thanks, in the current climate is there such a thing as a top resistance point if we continue to push up? i know you mentioned the Dow 8200 yesterday.Adamnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-33108808854265730612009-04-17T06:52:00.000-04:002009-04-17T06:52:00.000-04:00keep in mind option expiration today. So we may se...keep in mind option expiration today. So we may see a sideways day now that earnings here are "average".<br /><br />However get ready for GM news at 10:15AM today. May cripple the markets, but could also be a big push up if they come up with a great strategy.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-80156738708488199992009-04-17T06:35:00.000-04:002009-04-17T06:35:00.000-04:00GE Reports 1Q Profit of $0.26 a Share Vs. $0.21 Es...GE Reports 1Q Profit of $0.26 a Share Vs. $0.21 Est.; Citi Reports Loss of $0.18 Vs. $0.34 Loss Est. (Stories Developing)<br /><br />Looks like we will be pushing some more. Have to admit a bit surprised at this one. Especially Citi reporting a loss eventhough they had the new accounting changes working for them.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.com