Daniel Shporin
1:34
Good sell-off there in nat gas. Updated 5min chart below. I have no clue what the SPX is doing, well I guess I do, it’s going higher, the trend is your friend!
12:12
While I’m bullish on a daily time frame, I just went short Nat Gas as we broke below the pivot and the daily low. I’m looking to take profits around 4.15, and then re-enter if we gain momentum on breakdowns.
Below is an intraday 5min look at nat gas. The high @ 4.293 was made yesterday.
10:26
Soybeans open is in 4minutes. For those that don’t trade the grains much, soybeans is the most volatile of the grains (corn and wheat being the other main grains.) The leverage is the same as the /es, with each tick=$12.50.
Below is a 5min chart of soybeans /ZS. We saw a big sell off last week due to a crops report that showed an expected overproduction of soybeans in 2010. Since, we’ve been trading in a range between 945 and 935.
9:57
I try to trade the stock index futures, but my strategy does not do well in markets like this. I’ll stick to nat gas.
For those wondering why my strategy doesn’t work, it’s because I’m a momentum trader. I get in an out of breakouts, and like to ride the wave quickly and get out. I don’t hold positions very long at all (today my biggest winner in nat gas was held for 1 minute.) That simply does not work in the /es as it doesn’t move, there is no momentum, it’s a disaster for me.
9:03AM
Good Morning. I see Idan is taking the day off. I’ll stick around for most of the day in that case, and post on the energies, stock index futures, and grains. Let’s start with the energies.
Oil made another new high overnight, only .7 cents higher, but the persistent trend of higher highs shows the strength in the oil market. I can tell you this much–I will NOT be looking short if we break yesterday’s high. Maybe I go short if we decide we need to fill yesterday’s gap, but otherwise it’s long long and away.
Nat Gas is opening flat here as well after a 5% rally yesterday. We may pull back early in the morning, possibly to 4.205 (pivot), but I think Nat Gas will be exploding higher in the coming week.s
DUKE DUKE!! 
I’m taking the day off from the markets today to celebrate the blue devils! Hopefully daniel can carry us home!
STX-Just popped into my radar screen. 20 & 50 SMA @19.13 & 19.22 respectively. Let’s see if any end of day run up would have this close on or above those levels
Thanks…nice gain today, ou’ve been spot on as well, daily avgs will cross over in time.
Had a rough week last week. You give some, you take some..I guess…hehe
Maybe 1200 on the S&P by the end of the week? Any takers? I just bought 10 calls of the 120-strike for April on the SPY earlier in the day at 98 cents each.
CY- Closed 1/2 position @ 11.78. Stop set for other 1/2 @11.72. Got in @ 11.59
Just looked at FWLT just now, wow, nice move up since April 1…if there’s ever a pullback below 13 EMA on the 30 minute and then it crosses over the 34 I’ll jump in…on my watchlist…thanks.
Np. I just dipped my my toes in yesterday at the close. Might be a tad late on this one. Bought May 30 C @ 1.55. Might take a portion off at the close today for a modest gain.
I know what you mean, a scan list I apply via yahoo, I see its prices move up considerably so I seem to be late to the game, figuring how to tweak this free scan so I can jump in earlier i.e. GNW was on the list at mid 13s now over 18 and GNW is still on the list! Though I did get in at LVS and PCX. MGM and LVS is still liested as a buy, so is GGB, X keeps getting in then out…
Sport – meant to send you an email and lost your id … can u share again pls ?
CY-Got stopped out @ 11.72 on remainder of shares. +$192 on 1200 shares @ 11.59
good job, to me it’s not easy making money. I need to focus more on swing trading as oppose to getting out in a day or two. e.g. LVS and PCX, got out yesterday, now up today, though I did get back in PCX. We’ll see.
Tnx. I think it’s really tough to make money on trading. High failure rate. I usually go for swings but sometimes I see better opportunities out there and will not hesitate to take profits early (CY for example). I try my best to borrow from my broker and thus need to trade this way. Can’t afford to be paying broker interest plus possible losses on trades held minutes longer than it should have been.
sold 1000 DXD @ 25.80 (down 0.46% from my entry earlier today at 25.92); -$120.00
SHIP finally breaking out of it’s recent consolidation. Any takers?
This feels very blow-off toppy to me. Closing some longs in the SPY, also closing some short put spreads I have.
RSI on the SPY is at 76, waaaay above “over bought” levels.
do yu guys enjoy my strong forecast on M. Even in this bullish market it is just dwon below my price I gave you last week. Well since we are approching my price on S&P I am going to strat loading SPY june puts today. I am sure price will go higher but I do not care and I would be more than happy to see price go to 1220 so I would triple my shorts. SWBB
I use to guess badly when the top is in, so from now on it’s trade with the trend until trend line breaks. Heard retail ETF almost near a high (52 wk) anyways I have M on my watchlist.
What strikes are you buying?
Great call on M sam…
Yeah and tomorrow that M position will be majorly RED .. .. .. .
does anyone here use TOS… I can’t connect to this crap.. no idea how my orders doing…
That’s the last thing I would want to get trapped in
having issues…i’m in but data coming in verrryyy slow
I use the webclient. Haven’t had any problems today…
I tried it earlier and had issues as well. Looks like they got the desktop client up and running
still holding TSN short 19,47 from Tuesday post, now trading under 50ma on the 60min will lower my stop to a bit above todays highest.
looking at xlf 16,5 as resistance consider enter faz at that point if we get there today
Sam,
If you pat yourself on the back one more time, I do believe I’m going to load my shorts!!!!!
Added more TZA @ $6.43. Stop is in @ $6.38. GL.
Stopped out of FXP (10% loss) yesterday; still holding SCO, SH, SDS and TZA. GL.
Same here 1,260 @ $6.43 on TZA just couldn’t resist..
via FINVIZ, big buys on SD and big selling on PMI. Could be profit taking for PMI.
ERTS & STX–could initiate positions in either one or both at the close. Leaning towards STX
Add SCO
anyone looking to short AAPL here?
I am still holding my FAS. Still hoping for a short covering rally at last 15 minetue to close the XLF at 15. If that happenes then tomorrow we should get a gap up on XLF and then drop to 16 next week. I told you guys several days ago when XLF was below 16 that XLF is very bullish. There you go.
SWBB
200 more TBT @ 50.40
Sold the 230/220 put spread for May on AAPL for $2.80. It seems like this stock gets bought on every single pullback.
Good one, a lesson I’m learning, don’t short a stock that’s a leader, i.e. GS, Apple. Though I don’t know what’s up with Google. My gf told me that in the past, Apple stock drops once a product is release to the market though not this case. Well, some calls I have with IWM, PCX and SD, I’m planning to unload if SPY gets to 121/122/123. Next week for options expiration week, I think the Mondays have been bullish.
I think there had been good media coverage detailing how AAPL drops after a product is launched. So I think a lot of people thought it would happen again with the Ipad. Could just be the big boys playing with retail investors and delaying any selling. But they aren’t they due to launch or release something on Thurs?
I’d agree with the logic on this stock getting bought on pullbacks. However, due to report earnings on 04/19. Might pick up extra pennies on selling those options right before they report to take advantage of elevated IV.
Filled- STX May 19 C @ 1.26
PHYS and PCBC looking good
Missed out on a day trade short of CLF today. Had it on my watch list but got preoccupied with small caps and tech stocks today.
The only thing this market needs is a exhusted gap up. I hope tomorrow we get that. The problem for this market is that big boys need some people so they can sell thier shares to. When market goes up gradually there is less people to go long, but they usually find these people in exhusted gap up beacuse a lot of people will have to cover thier shorts and so that is what big boys need. Always SWBB
If anything, we’ll get a gap down and then buy-the-dippers will step in and rally us to Dow 11k and S&P 1200.
Big resistance on the S&P at 1197 though… that’s the key level we need to break through. After that, clear sailings till 1230.
I don’t think we get a gap down. We are going higher in channel abd bulls are going to protect this channel. I think we will not break this channel until we get to 1195. I also look at DOW which is very important. The top for this rally is when DOW get to 11050 and after that I would expect a huge drop. Since we did not have a major drop for several week I would expect at least 500 point drop for DOW. One thing that I look for is a exhusted gap up toward 11050. I think price can not get ther gradually, it should be with a morning gap up or evening short covering rally at the end of market.
can anyone answer if we have to get to the 61.8 retracement or we go over it, seeing that we already went past that in “time” it has been 13 months of going up and the down draft was 17 months more than the 61.8 retracement.