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W@G2 QQQQ 03/26/08 for a 03/28/08 close
44.98 bob3
44.40 Farooq
44.03 rayrohn
johnbits,
Are these 2009 puts?
Are they American style options or European?
Does SPY has European style options or only SPX has those.
TIA.
Farooq
I sold my QQQQ April puts for 1.36 and 1.37.
Roy,
That is what I am planning but a small position. I am thinking for 1.23 now, signal showing more upside. So I will wait till it change.
Farooq
Sold for 1.33 it seems bears have no traction.
Delayed posting, Sorry looking at charts like to buy again here.
Roy,
Thanks my friend, I am sad with his death he was very young and very brilliant, One of the original, In all gloom and doom stood his ground.
I am long QQQQ April 45 puts, I wrote detail at Ninja, average 1.25, 1.26 3X.
Farooq
aire88bro,
I am saddened to hear the news, I read his post regularly. He contributed many things in my understanding of market cycles.
I will miss him, he had a big heart to share his hard work, with all knowledge and experience he was a very humble man.
God may bless his soul, RIP Ted Chonski.
My condolences to you and his family.
Farooq
Sad news, Airedale88 passed away. Here is his brother post.
"Posted by: aire88bro
In reply to: None
Date:3/25/2008 9:30:01 AM
Post #of 32848
With deep regret I would like to announce the death of my brother, airedale88, Bob Chonski....Bob died suddenly from complications due to lung cancer, he did not even know he had...My brother loved the stock market and he loved traning and competing with his airedales Barron and Bolt.. Bob had other interests as well such as cooking, (he was a fantastic cook), astronomy, politics, and history....Recently we have been working together trading futures contracts... Bob expects the market to make a big move back up!!!! Good Luck everyone and God Bless....Ted Chonski."
God may bless his soul, I was a regular reader of his posts, great man. RIP Bob Chonski.
I am saddened by reading this news.
I have sold my calls @ 1.15.
Farooq
Out @ 1.54 from QQQQ 45 puts, I was hoping for break of 44.30 but failed long QQQQ April 45 calls for 1.02.
Long QQQQ April 45 puts @ 1.34.
Bob,
I overlooked 3/8 Gloe added that on NERS which would kept me in the till 1:55 which was high of the day.
I blamed it on my distraction.
I like to write my losses in detail same as wining because that shows psychology of human side and trade.
I think that is what on this board we are trying to share. Every one can show a great trade but it takes lots of courage to show one's mistake and admitting it.
My selling was also biased because of my targets achievement.
I am glad I was still a winner.
I was not sure we will get such a strong move right after OE. At close of OE on Thursday market were showing some weakness so mind set was on wrong indicators I guess.
Well today is a new day, I am happy with 85 % return on my April 45 calls which were a bigger position then I like to carry usually.
I am not as brave trader like Roy is, He is a great trader, focus and disciplined.
Thanks for sharing your thoughts.
Farooq
Roy,
As it turned out I left quite a bit on the table, CCI, RSI signal failed on short term charts. ADX would have kept me in for most of the ride.
My mistake was I did not looked 15 and 30 minutes charts before sale.
Remaining QQQQ April 45 Calls were sold for 1.15 I am happy with them.
I was distracted because an old class fellow was visiting me from New Jersey.
I am happy it was a positive day.
After he left I went through charts, most CCI RSI failed on 5 min charts.
Trying to learn from mistakes every day.
I saw your good trades on Ninja, good trading congratulations.
thestockplay,
I hope I was right a bit.
All marks met or increased from posted targets.
You are right one should not become complacent in this market.
Thanks for sharing your thoughts.
Sold IWM April 68 calls for 3.05 and UWM 48.90 still long QQQQ April 45 calls.
Both are over bought in my view so hoping to buy them a bit cheaper.
There is no sell signal yet on the system, those who have stomach should stay with signal. Use stops to protect gains.
No put bought on this desk went short bit QID which is covered for nice profit, forgot to post.
Two-timer,
Based on charts most technician will wait for gap fill at 65 level on QLD but my experience tells me that it will or better word could take 2-4 weeks before filling gap.
I am thinking around 18 to 19th of April.
I missed many opportunities in past for gaps to fill so I now mostly trade with system, hopefully when it will start downtrend I will be short.
I was hoping for weakness for today and early part tomorrow but news on BSC making market bullish.
Thanks for you interest and contributions.
W@G1 QQQQ 03/24/08 for a 03/26/08 close
44.57 frenchee
44.05 Farooq (I do think 43.78 could be tough cookie to break, but I am going with hope indicator)
43.98 bob3
43.87 rayrohn
42.09 OptionMonster
thestockplay,
I agree with your observation.
I think 1420 on SPX is real possibility before trying to test resolve of the bulls again.
Bears will give a good fight but most attempts will be met with strong buying.
Initial selling on Monday will be met with buying.
Projected my numbers on my board.
Farooq
QLD projecting 70.80 in next week.
QID projecting 50.25 after initial run to 53 area.
QQQ projection is 44.90 for initial run.
IWM projecting 69.80 in next week.
They all can add about 2 $ more from projected point before correcting, it could be violent short squeeze.
Short term market will be played with program signals, We might drop on opening a bit but I think sell off will be met with buying, real bull and bear struggle coming up.
These are my projections based on my program, it could be totally wrong so do your own home work before making a trade.
I could be be a premature bull but I am going to do my trades with that bias. I will be care full with my short signals.
Many still in believe that 1380 could not be reached I am in opposite camp it can break that barrier and I think 1420 on SPX is real possibility before testing it again.
I will appreciate any comments or analysis.
Happy holidays to all.
Farooq
TREND1,
It may be joke for you but BP CEO project there plan on basis of 35 $ price I think he knows a bit more then you and me.
There is 40$ premium for future war with Iran and as you remember oil was under 30 before war.
I am thinking it 40 because $ will take long time to gain its strength other wise it could be lower.
I could be wrong but time will tell. I do not trade base on my projection I trade based on TA with some daily FA so I feel OK.
TREND1,
India is getting more nuclear reactors so is China that will relieve some demand.
Out put in deep water is going to double the out put for USA.
Along with Hybrid, more Solar and other measures it is supposed to come down.
Some thing which cost 2.70 $ to produce can not sustain 100 $ price, but bubble take long time to develop and longer to burst.
Appreciate your comments.
Farooq
_1Best_,
Thanks, Good to hear from you.
I think markets has formed a short term bottom and now we will march to upside. That is where my most of the money is.
My projection is if we have a Democrat president oil will be under 40 $ in 3 rd year of his first term.
Have a great weekend.
Farooq
Thank you to all.
John French,
Congratulations on your child birth.
You will enjoy life more now,
My good wishes of health, prosperity, and longevity for Baby Ruby and your family.
Farooq
Thank you,
After yesterday run I had no hope, but market did what I thought it will do if we have more then a 1/4 point rate cut.
Farooq
Roy,
If you go back and see chart you see the volume in third bar which is comparable to Jan bar.
Bottom does not necessarily mean that this bar also need to be more in volume, it just suppose to make intra day little lower low or near that price support level.
All IMOP.
Tomorrow we will see what happen?
Dollar, oil, gold, commodities are saying we have few weeks of rally on hand.
Oil complex weigh so much that it took S&P down so goes others market.
I could be wrong because I was many times in past. If rate cut would be 1/4 point we could have 400 points up day.
I wrote about decline is coming if rate cut is more then 1/4 point, on my board and on Ninja.
Last IWM call trade stopped out for 11 Cents loss. Entry was pre mature, 15 min did not confirmed 5 min.
I was in 7 Cents profit but greed over came and clouded my judgment.
Spikes in data is screwing charts.
I am taking break to fix it first.
Happy trading.
Ollie,
I felt bad that you feel I bark at you, so just decided not to respond. I think it our board not just mine.
I am very glad for your trading.
I sold my calls @ 2.27 and 2.30 signal is turning red so want to be out of the way.
Edit: I bought them again 2.12 1 X.
Long IWM April 68 calls for 2.06 I hope signal will be long soon.
Edit: Signal is long. 68.25 is target.
One good opportunity, UWM is at 47.35 you can sell March 47 call which expire tomorrow @ 90 Cents about 1.5 return on equity, on margin 3 % for 1 day.
I am thinking it going above 48.10 by tomorrow.
Still holding every thing, sold 1 call to tease MM @ 1.10 and they drop the price to 90 Cents now. UWM is up 6 Cents now.
Ollie,
You might get your chance soon if you stay with it. You could be a true Ninja which you are.
I am not responding to your political views, I respect them, But I disagree, Mr.President is acting to best of his ability. I respect him as ours president.
I have not voted for him but once he is in office he represent our country. We need to vote and choose better CEO.
I hope we can discuss this some place else.
Oil will come down so will Gold, when? I do not know but I think way sooner then many people are thinking.
Happy trading.
Check out Roy's trade on Ninja options they are beauty.
I am still long QQQQ April45 calls, 1/2 Truck load April 44 calls (Just Kidding) and UWM.
Happy trading.
Thanks, I admit I am not Guru.
I am not best trader, I do not know many things and I admit.
I am human being I am bound to make mistakes. I gave my reasons.
I think after OE we can be down again till I see I am and will be long.
It is about making money not my personal ego. I admire every one's effort who sincerely contribute some things on these boards.
Thanks again for reminding me it was just a fluke.
Are you buying V?
Please contribute your views, TIA.
Happy trading.
W@G2 QQQQ 03/19/08 for a 03/20/08 close {A 2 Day W@G}
44.73 frenchee
44.80 Farooq
Selling 1/2 position of QQQQ April 44 calls for 60 % profit.
I may regret this, my thinking is Fed cut less then market thinking and we test lows again so need some dry powder.
I could be wrong so keeping rest of the position, this way I am making less but I am taking some home, nothing wrong with it.
I was going to sell at 42.81 so 42.66 is OK.
I am holding my calls April 44 QQQQ calls and some April QQQQ 45 calls, along with UWM. No other position trying to concentrate, if Fed action is on lower level I am expecting a two weeks rally minimum.
I am no guru so take it with grain or may be lot more salt. LOL.
Happy trading.
Some time baby sitting your position is most important thing you can do.
Farooq
Smartone,
I think market need no cut here just a statement that economy is improving and we are ready to provide any accommodation if needed.
We would like to see the results of previous measures. Inflation is real fear and we are ready to fight it.
That will take wind out of Oil and commodities and $ could become stronger. Short squeeze can do rest of the Job.
Dreaming with eyes wide open. LOL.
Farooq
I think Fed is not going to drop rate more then 25 basis points on Tuesday, Market may turn negative on that news but it will show confidence of the Fed and ultimately market will rally.
If we have more then 25 basis point drop we could rally first but later on we will drop.
Farooq
Long QQQQ 44 April calls @ 51 Cents truck load. I intend to sell them when QQQQ will hit around 42.81.
Ford is sold for 3% + commission 3 X trade so return is 9% on equity. Why wait 5 year when same can be done in 1 year. I am still long long term account.
Sold March 42 Puts for 1.22 34 cents profit.
Long April 44 calls using profit only. I am no hero. I am trying to buy @ 54 Cents few has been filled.
Signal Long on QQQQ.
Bought Ford again at 5.00 I must be fascinated with Ford.
Hi Roy, Good morning,
I am trying to do what I wrote here and on NJ last night,
Sold swing trade Ford for 1% profit raising little bit cash.
In March 42 Puts @ 88 Cents stop is 90 Cents.
I bought JPM June 40 for 3$ and sold them for 4.50 I was thinking I should hold them but sold early they went up to 4.90 I am slow in thinking today.
Mentioned here that external events effects in real time to most traders.
I am long April QQQQ 44 calls UWM and April QQQQ 45 calls now.
Put are for protection because I know that I do not know many things.
You are hitting home run today. Congrats, You might need a brinks to take it. Do you need any help to carry it to the bank?
Happy trading.
Farooq
Roy,
I went for April 42, You went for Jugular my friend.
Farooq
Edit: Follow the leader sold for 20 Cents profit.
W@G1 QQQQ 03/17/08 for a 03/19/08 close
43.00 dr_sean
42.00 Farooq
41.88 rayrohn
40.00 bob3
39.85 frenchee