On my just concluded SDS trade, it looks like I just about caught the bottom of today’s downside move, marked by the arrow above. This is not to brag, it was pure luck, as a pre-set limit order was filled when program sell orders came in about noon. That just happened to be almost the […]
A limit order I placed Friday triggered at noontime when SDS hit the $33 mark. Due to the dynamics of leveraged ETF’s, I was out of this trade at about S&P 500 1120, rather than the 1110 level that I would consider a true fill of last Monday morning’s gap. Still, a profitable trade doesn’t […]
Take a look at Visa dropping like a stone on general market weakness, and more particularly, news that the Senate has approved Richard Durbin’s proposal to cut debit card fees: The measure would force credit card companies like Visa (V) to charge less for debit transactions.
Gamestop, the mall based purveyor of video nonsense for folks half my age, used to be a stock I traded frequently. A look at their chart now shows a company prone to almost random looking gaps: For those fans of the bromide that “every gap must be filled,” it looks like almost every gap on […]
I’m fully positioned on the short side now, as I capitulated to my fascination with shorting Minefinders this morning. Sold 1000 shares short at $9.87: Another trip down to the $9 range would be nice, and it’s possible I might get greedy and see if it will legitimately slip back into the $8’s like it […]
After a quick jettison of the go-to trade on QLD, I took a small short-term short position this morning, picking up 300 shares of SDS (double-short the S&P500) for $30.44 at the open. I was thinking of doing this last night, but wanted a little “peek” at morning market conditions. My bet is that the […]
The “go-to” trade on QLD has concluded. And good riddance to it. I sold my 250 shares for $66.02 right before Wednesday’s close, as the sell signal of RSI(5) > 50 was triggered. Obviously, this was a crappy was to make $215 (before commissions), as this trade was put on right in time for last […]
For those who are newly interested in the short side of trades, a second look at Minefinders (MFN): I prefer to draw the neckline around $9 even rather than where finviz puts it, but no biggie. This one hasn’t been bombed so bad you can’t get in on the short side if you are so […]
The above is just a rough idea on where a down trend line might be drawn on this week’s data. With so much technical damage out there, and that weird spike from Thursday popping up on almost every chart, I wouldn’t want to reposition to the long side until that downtrend line is taken out […]
Sell in May and go away? The day a fat finger erroneously sold billions? No matter how you look at it, this was a day to remember (or maybe to forget)! For those of you who believe gaps are always filled, the two on the S&P I have been watching (1125 and 1080) were filled […]
© 2010; Counting with Doug:. Powered by WordPress using the DePo Skinny Theme.