Fridays action - Trading-Lab

kerahc · #1 07-15-2008, 03:26 AM

Any thoughts on Fridays action followed up by todays... I thought someone would have brought it up already.

Soverus Khan · #2 07-15-2008, 11:46 AM

Inactivity on the threads tends to affect my posting motivation. Human nature I guess.

Caught the fade from the open. Took out a stop on the late day (1515E) spike, but reentered long for a small bite.

My strong line was 1241 and then Friday's close at 1239 as was many traders. That chop around 1241 was interesting to watch, but once broke was a pretty high r/r.

Today's gap will present many opportunities.....I'm just gonna let price action determine what those are. LOL.

kerahc · #3 07-16-2008, 02:46 AM

It's only for very quick traders right now but I did close my short positions this morning. I thought we were due for a bear bounce last week but because people are calling for one on tv I'm not sure I'll see it for awhile.

I built a stake in SPY first thing this morning at 120.50 because I sensed major panic. I'm playing it with at the money calls though limiting my downside risk. If this goes against me I'm going to take a step back to re-evaluate my bias since we are at a cross roads again I believe.

kerahc · #4 07-16-2008, 11:44 PM

Well today was a nice pop, yes I took some profits today near the close. I think I'll get a chance sometime tomorrow morning to look at the action and get back in cheeper or let the rest run if not.

kerahc · #5 07-18-2008, 10:37 PM

again with the inactivity...

Soverus Khan · #6 07-22-2008, 11:43 AM

Couple of strong pivot areas annotated on the daily.

Plotted on the 5 and 15 with a few additional intra day plots has shown some very good opportunities.

S&P close 21 Jul 08.png

Soverus Khan · #7 07-22-2008, 11:48 AM

Quote:

Originally Posted by kerahc

again with the inactivity...

Looks like it is just you and I you crazy Chihuahua!

kerahc · #8 07-23-2008, 09:29 PM

I've had a short GTC order alittle below 38.20% waiting to be triggered and obviously I wan't the only one. It snapped back hard when it hit that resistance but six days in a row is a nice run without a pullback. Any thoughts?

Soverus Khan · #9 07-24-2008, 12:30 PM

Nice play on the fib.

A break of yesterday's high on volume should be a quick burst.

A break of 1277 and I'll have SDS in the que.

The 50% on the fib is near a very strong resistance band. That should present another great opportunity.

Soverus Khan · #10 07-24-2008, 07:45 PM

4000 sds at 67 (S&P breaking 1277 on volume)....pulled the plug at 69.30/33. Next high prob vicinity 1248 and 1240. The only trade today.

Time for a beer.

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#1 07-15-2008, 03:26 AM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	Fridays action Any thoughts on Fridays action followed up by todays... I thought someone would have brought it up already.

#2 07-15-2008, 11:46 AM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	Inactivity on the threads tends to affect my posting motivation. Human nature I guess. Caught the fade from the open. Took out a stop on the late day (1515E) spike, but reentered long for a small bite. My strong line was 1241 and then Friday's close at 1239 as was many traders. That chop around 1241 was interesting to watch, but once broke was a pretty high r/r. Today's gap will present many opportunities.....I'm just gonna let price action determine what those are. LOL.

#3 07-16-2008, 02:46 AM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	It's only for very quick traders right now but I did close my short positions this morning. I thought we were due for a bear bounce last week but because people are calling for one on tv I'm not sure I'll see it for awhile. I built a stake in SPY first thing this morning at 120.50 because I sensed major panic. I'm playing it with at the money calls though limiting my downside risk. If this goes against me I'm going to take a step back to re-evaluate my bias since we are at a cross roads again I believe.

#4 07-16-2008, 11:44 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	Well today was a nice pop, yes I took some profits today near the close. I think I'll get a chance sometime tomorrow morning to look at the action and get back in cheeper or let the rest run if not.

#5 07-18-2008, 10:37 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	again with the inactivity...

#6 07-22-2008, 11:43 AM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	Couple of strong pivot areas annotated on the daily. Plotted on the 5 and 15 with a few additional intra day plots has shown some very good opportunities. S&P close 21 Jul 08.png Last edited by Soverus Khan : 07-22-2008 at 11:45 AM.

#9 07-24-2008, 12:30 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	Nice play on the fib. A break of yesterday's high on volume should be a quick burst. A break of 1277 and I'll have SDS in the que. The 50% on the fib is near a very strong resistance band. That should present another great opportunity. Last edited by Soverus Khan : 07-24-2008 at 12:46 PM.

#10 07-24-2008, 07:45 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	4000 sds at 67 (S&P breaking 1277 on volume)....pulled the plug at 69.30/33. Next high prob vicinity 1248 and 1240. The only trade today. Time for a beer.