Tag Archive for 'IWM'

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Kim Chow O’Riley

Published on November 16, 2010, 10:23 pm in Trading. Closed Tags: , , , , , .

Markets are worried that some Chinese Irish contagion will explode soon….China to raise rates like South Korea and Ireland to just collapse. Throw in a little Portugal and other EU members into the recipe and you get….Today!

Knowing I wouldn’t be around much to trade today, I got out of my shorts yesterday…dammit! But, such is trading…woulda, coulda, shoulda 8O

Near the close today I arrived as the markets were making new lows, so I nibbled on some SPY calls and IWM calls…the SPY was filled, but the IWM was not. Futures this evening are inching up and just maybe the start of a November OpEx rally.

According to the Stock Trader’s Almanac, the week before Thanksgiving, which this is, the Dow has been up 14 of last 17 years. And, for November OpEx Friday, the Dow up 6 of last 8. And in 2008′s Nov. OpEx, the Dow surged 494 points or +6.5%. That says a lot about what we may expect over the next 3 days!

Busy day at a slow market

Published on November 15, 2010, 11:00 pm in Trading. Closed Tags: , , , , .

Over all if was a gap up in the morning and a down move in the afternoon. It was a day to play both sides of the track. It was a day for daytrading! My best play was TBT calls bought in the morning and cashed out for 27%…yeah baby! Some lesser moves were made in QID UUP SPY and IWM. Sitting all cash for tomorrow.

So I’m gonna make it short, but here’s some interesting stuff:

Good luck tomorrow!

I did it again

Published on November 12, 2010, 8:50 pm in Trading. Closed Tags: , , , , .

Yes, going short last night worked out well…again…..3 days in a row! Cashed out of TWM QQQ puts and IWM puts. Although today, near the close, I went long via SPY, not much, but enough to put me in a net long position. Also long a few UUP and short XLE.

I’ll see Monday how that worked out! :mrgreen:

What’s going on?

Published on November 11, 2010, 9:54 pm in Trading. Closed Tags: , , , , .

got out of CSCO put options right at the open for a mere 398% profit. Like clockwork, CSCO always goes down after a report, but never like this! It was wonderful! Oh yeah, and there were a few dollars to be made in QQQ puts as well. :mrgreen:

CSCO collapses, the markets go down, and the VIX is standing around doing nothing! What’s going on? Doesn’t all this activity warrant a bit of volatility? Crazy dollar, Korea trade collapse, too many bulls, low volume, lotsa call buying….something is about to happen! Or so it seems.

So after getting out of all those shorts in the morning, again by the close I have started short positions via TWM, QQQQ puts and IWM puts. It’s been working for two great days, I’ll try for another.

TGIF and happy trading!

Deja Vu?

Published on September 27, 2010, 11:24 pm in Trading. Closed Tags: , , .

Today’s late day selloff reminded me a lot of those days in August that became like clockwork, day after day. Sure hope it doesn’t become a habit!

Saw lots of reasons, or is that excuses for the selling….California needing money, a good treasury auction, new FDIC rules, and even Bob Prechter on TV. None of them sounded like a good excuse, but with the kind of volume we had on Monday, it took only a few traders to move the markets! :roll:

Now on the other hand, the publisher of the Stock Trader’s Almanac says that the Dow is going up 259% in the next 15 years! Read this: Dow ‘Super Boom’ to Send Gauge to 38,820, Hirsch Says.

Closed about half of my long positions for some profit taking, but also added some short hedges….mainly using puts in IWM XRT and GLD. We’ll have to wait to see how prudent that was. Happy trading!

What to do?

Published on April 25, 2010, 10:14 pm in Trading. Closed Tags: , , , .

Oh what to do? The market is way overbought, but price action keeps moving on up. Markets still making new highs and also 52-week new highs…except for the Naz, the index made a new high Friday but did not make new highs in the 52-week new highs….a slight divergence maybe?

I’m still sitting in mostly cash, but have now split my longs/shorts at 20%/30%. My longs are DRYS ZANE TBT. My shorts are via TZA, IWM puts and QQQQ puts.

Futures this evening are already frisky to the upside….just reflecting tha happy openings in Asia. The melt-up continues. Be long or be wrong! But be careful.