2:32am
I’m just staring at the EUR/USD right now… Euro is just getting hammered here.. Next level of support includes the 200 SMA daily, which is also right next to the 50% fib retrace of this whole EUR/USD rally right between 1.302 and 1.313
Intraday Commentary ~ 11/26/2010
– November 26, 2010Posted in: Intraday Commentary, Stock and ETF Models
Current Hold
Long CSCO – low PE, hitting support. Will buy more as we go lower. Stop around 18.50
Short KR – high PE, about to hit resistance, Will short more as we go higher. Stop around 23.50
Looking into
Long ANW
Short CRM
Short EWY – just in case situation in korea gets worse
And don’t forget about what day it is today. We shouldn’t be trading at all because of
Take a look here
http://www.spoofee.com/index.php
Futures down 100 pts, glad I took those puts on ACI on Thursday. So much for low volume trading today.
Is this the start of the 2nd leg down?
I’m starting the day with 1000 shares of SCO (bought @ 12.14) and 400 shares of SDS (bought @ 26.50). Both of these entries were posted here on Wednesday (near the end of the day). I’ll probably close both positions today and enter the weekend in cash. Good luck to all today!
I would like to see at least 12.45 on SCO and 27.00 on SDS; we’ll see how it goes. I may buy some GDX today if it goes under 58.00.
The 1187 area might be a good place to try a trade on the long side if you are so biased. I’m thinking about closing my SDS position soon.
sold 400 SDS @ 26.80 (up 1.13% from my posted entry at 26.50 on Wednesday); +$120.00
just playing it safe
Good move, I bought TZA instead of SDS and it looks like its goona fill the gap and go negative.
Yep, that 1187 area is going to be tough to break down. I’m probably going to close my SCO position soon to be safe and maybe try a quick trade with ERX or TNA.
bought 200 GDX @ 58.40
sold 1000 SCO @ 12.29 (up 1.24% from my posted entry at 12.14 on Wednesday); +$150.00
Eh, better than nothing.
December should be very intersting month to play. A lot of people think we should get a mice rally since we are going to end year, but I see a very choppy month that only powerful trader like me can make huge money.
SWBB
bought 300 ERX @ 45.70
Powerful trader, what is your predict for today’s move.
Yes, it is definitely a good idea to get trading advice from someone who didn’t know if the markets would be open or closed on Thanksgiving day.
bought 200 TNA @ 59.90
This entry (and the ERX entry I posted earlier) are risky but I feel pretty sure that the 1187 area will hold (as I posted earlier this morning). I’ll dump both positions if we have a solid break below 1187.
If you noticed, recently market is all about gap up and gap down. A powerfull trader who can predict these gaps would be the most successful trader. Huge huge profit is waitng for me in December as I predict a lot of gap up/ gap down
SWBB
Nice thought!!!
rmm1209 made great trades for past few days. Since you are new to this sie, what is your sucessful rate for your trading. This site welcomes great traders
As far as I know Morris success rate per trade is pretty high. He is one of those, you can follow.
I used to post here all the time. I’m just posting this week because I’m off work.
The ERX and TNA entries are not looking so good right now. I’m not sure that I want to hold any 3X position over the weekend in this crazy market.
bought tza at 19.21
Earlier this morning? Watch the 1187 area; if it breaks down, this trade will be fine (although the small caps have been strong so something like ERY or FAZ would probably work better since energy and financials have been weaker).
C, Morris is a great trader. I did not see him for ages.
Ha, thanks! My handle is rmm1209 now that the site switched from StockTock to Focal Equity.
bought 300 more ERX @ 44.90 (so I now have 600 shares @ 45.30 avg); RISKY!!!
Today’s market only for half day trade adn close afternoon
Hi, Morris, welcome back.
Thanks, although I will likely be gone again once work starts back on Monday.
Morris, I still like your advice to use pairs for trading. That is my major way of trading now. Great advice!
Thanks! It’s best to keep it simple (although I often fail to follow my own advice).
Sold the ACI puts bought yesterday for 12% gain. All cash going into Monday.
Have a nice weekend all.
I’ve had a good week some I’m going to take a risk and hold my ERX, GDX, and TNA positions over the weekend. I’m done for the day. Have a good one!
Morris, It will be nice if you keep on posting when you get time.. Thnx
Sold TZA at 19.41
Stocks are still changing even after market closed @1PM. That doesn’t happen very often.
Stats for the week;
NYSE -1.8%
S&P -.9%
DOW -1%
NDX +.7%
Gold +.8%
IBD 100 +2.1%
Leading stocks outperformed.
—————-
IBD 100, IGTE now #1, RVBD #2, ARUN bumped to #3
I reserve judgement on ST direction of market until fund managers return tommorrow. Watching for possible breakout of recent ipo chinese smallcap CIS. Up Friday on strong volume, especially considering only 1/2 day. Recent ipos have brought many outstanding returns for the most part. Some uranium plays were still very hot Friday, DNN URRE.