Seem the call for the bounce was right and that's why it is great to be traders as you get the profits. Market bouncing here 200 points and we took off most of our shorts for huge gains and 1/2 TWM long nice.
Market is very very oversold here so watch your shorts and we might be in alittle bounce formation for a couple of days.. MAYBE
Tuesday, July 1, 2008
Pre-Market
Seem like the bears are in full effect here before the open. News out of Europe of more banking fallout plus negative news on LEH (Lehman). Maybe we get a hard flush down in the few part of the day then reverse in the afternoon, which would be the ideal situation in my mind.
Again not much trading for me this week but maybe I do step in today if volume is good.
Again not much trading for me this week but maybe I do step in today if volume is good.
Monday, June 30, 2008
This week
Will be taking it easy this week as I dont like to trade much when there is little volume. My postings to the blog might be minimal if we have the rest of the week like today. Tomorrow I will try and make my daily in the first hour as it was like watching paint dry today in the markets. Action was poor and the sell off, although no heavy in the last 90 minutes makes me wary of moves here.
We should see some rotation into the weak strong since it is the first of the month, so watch for the retailers and financials to get some buying. I think that the agro stocks might get some selling in the next 2-3 weeks but we will see, I will make an official call if something sets up.
We should see some rotation into the weak strong since it is the first of the month, so watch for the retailers and financials to get some buying. I think that the agro stocks might get some selling in the next 2-3 weeks but we will see, I will make an official call if something sets up.
TRADE CALL :SOV out
Covering SOV short here. $4. geez.
Plus $4 on a $11 play is just too awesome.
ONLY WINNERS HERE
Plus $4 on a $11 play is just too awesome.
ONLY WINNERS HERE
TRADE CALL: FNM OUT
FNM finally went to teenager status. Taking off all short here +$11.
ONLY WINNERS HERE.!!!!!!!!!!!!
Think we might get a bounce in the financials
ONLY WINNERS HERE.!!!!!!!!!!!!
Think we might get a bounce in the financials
This week
Well folks what will this week bring. I DON'T KNOW. As of now we are extremely oversold but that doesn't mean we can't continue the selling here. What I saw friday was some strength in the russell and nasdaq which puts me in a neutral stand for today and tomorrow. Now what I would love to see is a early push down and then some buying and MAYBE we can head a bit higher from here. Nope I am not turning bullish, far from it but we are extremely oversold here and the best scenario would be for a bounce then a flush again to lower lows.
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