Agree Geneva His accuracy was good in the past. Until, he started thinking he is the man and started charging high fees. Thought of the day- don't charge money with your sixth sense instead use it to help people.
Didn't get the big dump I was looking for after a gap up opening. I have potential top at 13:30-14:00 EST with a drop of 10-15 SPX points into the close and then, ..., yup more up from tomorrow's open.
looks like we're done for the day on /6e upside Helge shows flat to slightly down into the close then very nice down wave from close to around midnight central then up into the open maybe some higher than today but big sell off when market opens. The bottom of the /dx channel seems to be working really well on a support for /dx all week we just move from the top to the bottom now we're at the bottom so back up to the top tonight...Helge says tomorrow at open will be the top until May 10th as we enter a downward channel.
I have two questions. Do we as traders base and scan all those myriad projections for our confirmation or for guidance or to clear doubt?
Dont you think it would be better to give a rating to all these predictors by checking their overall performance in saying things that did not materialize or rather dint touch reality.
My other question is on a shorting strategy using options. When you know the direction would you i.short the calls and buy puts ii. Just do a debit put spread iii. Sell a credit call spread.
iv. Short futures? What is your best proven strategy. Please give your opinions.
AS I agree about the spread cost. But try very high liquid stocks like eg spy wmt and you could find pretty good prices on long term or leap. Sometimes just about 3 to 9 months can be better than current or leap. Current is totally worthless cos if market turns around for any reason the loss is big. Options can be only good when you are sure of the asset. eg sept 10 spy calls spread rate 3 and puts 4 its not that bad.
i am going to buy tza at the open tomorrow in my IRA to hold until May 15th as Helge says tomorrow at the open will be the high and we selloff until May 15th
am short the Euro /6e now will reverse and go long around midnight to catch the up wave that will run to the open then short the /6e at the open
Moon Phases, April 2010 Last Quarter – April 6, 09:37 New Moon – April 14, 12:29 First Quarter – April 21, 18:20 Full Moon – April 28, 12:18
also FlashFusion MKT: SIMON peak window has arrived and it hasn't disappointed. We have 4/12, 4/13 in front of us now; 4/25 or so is the next turn IMHO 12:07 AM Apr 10th via web
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
As previously indicated by the daily reading and the power index we can expect a SOLID Upday today
1.3632 long here /6e probably a little early but I show up all day
ReplyDeleteI think dont go fully short until GS reports. They have a habit of running up into earnings, then sell off.
ReplyDeleteThoughts as they want to park before pull back
BAC 20
C 5
GS 185-192
JPM 50
Guys, if u want to know how the market is working regardless of volume and the changes in accounting, check the site
ReplyDeletehttp://zstock7.com/
Mahendra must have meant crash UP.
ReplyDeleteHe's a genius.
Agree Geneva
ReplyDeleteHis accuracy was good in the past. Until, he started thinking he is the man and started charging high fees. Thought of the day- don't charge money with your sixth sense instead use it to help people.
Didn't get the big dump I was looking for after a gap up opening. I have potential top at 13:30-14:00 EST with a drop of 10-15 SPX points into the close and then, ..., yup more up from tomorrow's open.
ReplyDeleteReza,
ReplyDeleteAgreed. He's a lot like atilla
and will end up like atilla.
Carl is looking for ES 1212 before a break down of 20 points
ReplyDeletehttp://carlfutia.blogspot.com/
1.3666 out of shorts flat on /6e might be done for the day will watch the 5" to see if will get back in long
ReplyDeleteCHOP CHOP till Friday
ReplyDeletePerforming a 5th and final possible exhaustion wave this week
258bars today at 3pm might allow last hour rally, unless delayed
till 4pm.
And if so, then tomrrow should open higher again
Mahendra, IMO< was 2 weeks EARLY
and we will see the results in the last 2 weeks of April
Jay
looks like we're done for the day on /6e upside Helge shows flat to slightly down into the close then very nice down wave from close to around midnight central then up into the open maybe some higher than today but big sell off when market opens.
ReplyDeleteThe bottom of the /dx channel seems to be working really well on a support for /dx all week we just move from the top to the bottom now we're at the bottom so back up to the top tonight...Helge says tomorrow at open will be the top until May 10th as we enter a downward channel.
put in a sell short order /6e for 1.36666
ReplyDeleterrman
ReplyDeleteI think China GDP
Hello Jay RRman, Reza,KC and Janeva
ReplyDeleteI have two questions.
Do we as traders base and scan all those myriad projections for our confirmation or for guidance or to clear doubt?
Dont you think it would be better to give a rating to all these predictors by checking their overall performance in saying things that did not materialize or rather dint touch reality.
My other question is on a shorting strategy using options.
When you know the direction would you
i.short the calls and buy puts
ii. Just do a debit put spread
iii. Sell a credit call spread.
iv. Short futures?
What is your best proven strategy. Please give your opinions.
Asta.. If the market breaks down I buy itm puts and sell otm puts to collect the premium.
ReplyDeletei play futures only except in my ira where i can't do futes hate options the decay stinks
ReplyDeletethanks Janeva. good idea.
ReplyDeleteRRman I know what you mean. From my experience of trading options for long time you could test trading in leaps and you will never trade stocks.
AStral - thought about leaps but usually prices are so high and spreads pretty bad - have you seen leaps with good liquidity ?
ReplyDeleteAS I agree about the spread cost. But try very high liquid stocks like eg spy wmt and you could find pretty good prices on long term or leap. Sometimes just about 3 to 9 months can be better than current or leap. Current is totally worthless cos if market turns around for any reason the loss is big.
ReplyDeleteOptions can be only good when you are sure of the asset. eg sept 10 spy calls spread rate 3 and puts 4 its not that bad.
Mahendra, said bull market from Aug 2010. Jay said top off Aug 2010. JPM & GS top off around Jul & Aug
ReplyDeleterrman,
ReplyDeletegap up or down tomorrow am
gap off then huge selloff starting after the bell and lasting all day looks pretty "waterfallish" to me
ReplyDeletegap up I meant to say
ReplyDeleteSo QQQQ - 50-50.55
ReplyDeleteXLF - 17.27-> BAC 19.63, GS 192, JPM 49
IYR - 53
for gap up
i am going to buy tza at the open tomorrow in my IRA to hold until May 15th as Helge says tomorrow at the open will be the high and we selloff until May 15th
ReplyDeleteam short the Euro /6e
now will reverse and go long around midnight to catch the up wave that will run to the open then short the /6e at the open
tomorrow looks wicked to me
ReplyDeleteWhat is Jay's opinion here
ReplyDeleteNew Moon today at lunch time
ReplyDeleteMoon Phases, April 2010
Last Quarter – April 6, 09:37
New Moon – April 14, 12:29
First Quarter – April 21, 18:20
Full Moon – April 28, 12:18
also FlashFusion
MKT: SIMON peak window has arrived and it hasn't disappointed. We have 4/12, 4/13 in front of us now; 4/25 or so is the next turn IMHO
12:07 AM Apr 10th via web
Reza - I see gap up first 1/2 -1 hr of trading and then flat to +/- 30 pts. I do think top for Dow is anout 11150ish before a decline to 8500 level.
ReplyDeleterrman - check into FAZ & TYP
ReplyDeleteAbdullah,
ReplyDelete8500 is too low. Obama after passing health care said check the economy in 3 months, then tell him. Hint as Jay said market up until Aug
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
ReplyDelete- Cicero, 55 BC
What have we learned in 2,064 years?
Repost:
ReplyDeleteTomorrow may be more of sideways as Jay mentioned
It may be repeat of Jan:
http://www.screencast.com/users/Fuji-san/folders/Jing/media/fedca514-1515-49cc-af5a-f3ceaadc0cdf
Abdullah,
ReplyDeleteThe reason I am getting cautious about the short side
http://www.trade-guild.net/2010/04/bow-down-before-one-you-serve.html
out of shorts flipped to long /6e 1.3616 should go up into the open now then sell off big after the bell
ReplyDelete