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Ollie,
Your posts are colors for this board, they bring some needed smile.
I saw a link by Rayrohn I am afraid link will be updated so I tried to copy and paste.
ADVANCES & DECLINES
NYSE AMEX NASDAQ BB
Advancing Issues 392 (11%) 349 (25%) 584 (19%) 570 (31%)
Declining Issues 2,961 (87%) 956 (69%) 2,366 (77%) 783 (43%)
Unchanged Issues 57 (2%) 75 (5%) 108 (4%) 467 (26%)
Total Issues 3,410 1,380 3,058 1,820
New Highs 36 30 41 171
New Lows 307 61 337 256
Up Volume 235,661,271 (785%) 152,713,143 (14%) 302,705,466 (13%) 361,125,063 (33%)
Down Volume 4,082,533,643 (13602%) 915,430,638 (85%) 1,937,702,554 (86%) 243,681,400 (22%)
Unchanged Volume 6,786,147 (23%) 4,961,406 (0%) 10,985,762 (0%) 484,724,564 (44%)
Total Volume 30,013,7651 1,073,105,1871 2,251,393,7821 1,089,531,0271 1 = Total volume calculations include volume from pre-market and regional exchanges.
Original link: http://finance.yahoo.com/advances
Dave, Can we call this capitulation?
Any comments are welcome.
I tried to copy and paste the table but it did not came right please click link.
__1Best__,
Thanks for visiting our board. I was wrong three times today and took minor loss and as a rule I do not trade equities if I lose three time consecutively.
I hope we hold support here, other wise we have a 5 year of bear market on hand.
I saw your PM but I am a free loader here so I can not answer PM, and I think it is unethical to answer PM on public board.
Happy trading.
Failed to take profit on both when available but stopped out at 10 Cents loss on both. Since this is third loss in row in equity trading.
I am stopping trade in equities till tomorrow.
This event has happen after a long time.
I might buy only for long term on 30 min or hourly chart.
I am watching my calls.
Roy, You are right I forgot my own prediction that we will try to close near previous low in coming five days.
Happy trading.
Long April 44 Calls for 1.06 and 1.08. I do admit at this time signal on CCI is stay short but on RSI and MACD is becoming long.
CCI 144, 12,6 can become positive any minute.
Long QLD 67.45 signal changing to long. My stop is 66.50 I am not using full margin but I am using some.
Stopped out of UWM for 20 Cents loss in my absence. Again Long UWM from 45.60 that is confirmed long signal.
John,
One need to buy when it seems no reason to buy. People always do opposite and only few percent accumulate that wealth. We will be there.
Hi Roy, It is on 5 min chart, Sold QLD for 69.00 I need to go out for 30 Minutes. Signal is still long.
I am long UWM also from 46.55 that I am leaving.
That trend hope will last longer.
Have you ever considered flipping to long side Once you sell puts?
I learned that thing from Nacona and it increased my bottom line.
I went long on QLD @ 68.25 It is bought on RSI reading and signal.
CCI making hook but official signal is not generated but working on it.
Roy, Dave, and fasttrade you are doing great.
Any comments are welcome.
Gentlemen,
Thank you very much.
I am in good company. It is helping me in my trading.
Please visit my board for some out of this word predictions.
Farooq
Some prediction for QQQQ.
Please do not trade based on these targets. Do your own work.
In March we are going to see high of 45.82, (well 45.92 is possible).
In April we will touch 48.85.
We will try to close near recent lows (Yesterday's low) in coming five days.
Now I am on the line let's see what it brings.
Farooq
Roy
Thanks for Kind post I am honored to be on your favorite people list.
I just like to be in company of smart people like you, other board is more open and friendly, I just feel that way.
They took my UWM @ 48.15 and I am long March 44 Puts for 1.19.
I will sell them soon.
Edit: Sold March 44 QQQQ puts for 1.39 need to leave desk. Signal is still short.
Roy,
Ninja has same problem could not log in so can not comment on any trade but I am sure with your record.
I am free loader on IHUB and I do not want to be addicted to it, so I some time add replies to different posts, I hope you would not mind.
Bob257,
Good job, taking profit is important, do what makes you comfortable.
I am long again UWM @ 47.45 my stop is 47.20 but I might sell in 48 area UWM could try 48.50.
At this moment signal is long on QID and it is trying for 52.80. R/R does not favors trade so I went with UWM.
Happy trading.
Good job fasttrade, I did few positive trades sold UWM for 60 Cents profit and 1 option trade for 18 % profit.
I was late in posting so did not posted detail.
Good to see you back.
Roy good trade it is good to keep tacking profits.
Happy trading
W@G2 QQQQ 03/05/08 for a 03/07/08 close
44.78 rayrohn
43.76 Farooq
41.61 frenchee
John,
No big deal, In post #600 I mentioned I bought them @ 1.00.
One reason to sell is to book profit, I make living by trading so need to take profit more often.
I am following master option trader, He has cash account so do I, He is not worried about tomorrow so do I try.
I will try better next time.
I do not watch OEX so I have no Idea, but you data favors spread, may be a bull spread.
Roy thank you for the charts.
Ollie, I am happy your internet is working.
Happy trading.
Farooq
Johnbits,
I sold for 20 % profit not for BE.
How much return you think I should target for one day return?
I am busy in many things kids are home and I enjoy there company.
I am not a prefect trader and I have no illusion about that fact.
So I am a student of market and ready to learn.
I am sorry if you took my remarks personally. My remarks were about trader in you not you as person.
Your input will be appreciated.
Sold April 44 calls for 1.21 flat on those now.
Sold UWM again at 47.50 bought 46.45. What a market. Bought again at 47.29. Non margin position now. Will sell around 47.60 area.
Out of UWM for 60 Cents profit. Sorry for late posting.
Still long April calls.
Long April 44 QQQQ calls for 1.00.
signal 80 % long.
Long UWM from 46.40 I literally got LOD.
Could have, would have, should have, only create problem for trading. You are doing best with your knowledge, trust me.
If you fell lacking in some aspect, then paper trade and write your decision based on which you took trade and then analyze them.
See if some thing or indicators can make improvement.
I wanted to go long on calls but I know Roy is a superior trader so I took my position off with nominal profit.
I am not able to buy long calls again, because it is a cash account (options account) and I took all long position earlier, but I am happy with my decision. I am writing it because happy atmosphere will make you a better trader.
Admit one thing you did not know with certainty that this going to be outcome, what you have, you made best out of it.
We all do same.
I used to confuse long term analysis with short term trading and used to miss good entry now they all are in different account and I enjoy it more. May be that can help you.
Since you wrote on a public board so I am giving you my 2 Cents, it might work for you it might not.
Good luck.
Happy trading.
Edit: They took away my UWM @ 47.60 near closing for 40 cents profit.
Roy.
I am out of March 44 QQQQ Calls for 8 cents profit, and out of April 44 QQQQ calls for 10 cents profit.
I may regret that but really do not want to go against you.
Out of QID short @ 53.40 for 60 Cents profit.
I was hoping to catch 53.20 but may have to leave early for lunch with wife and Kids they are back home.
Out of UWM 47.95 and 48.
I am leaving a buy order at 47.20 on UWM.
Roy, it is OK if you are taking opposite position in options that makes the market.
It does scare me to take opposite position from yours. You are the best I have seen.
Roy,
What LC is saying is we are not dropping in face of bad news. What that says is we are way oversold and possible chance is short term rally.
What I am going to say will be controversial till Fed stop dropping rate we will not start a new bull market, First sign will be slow down in interest rate cut. Till then we are in range bound trading.
I loaded March 44 calls @ 53 Cents, I also went long UWM @ 47.18 . These are all trading positions. UWM is in swing account but will take quick profit.
One more try Short QID @ 54.00 and long April 44 call 1.14.
Some portion left to buy March 44 calls.
I bought early because signal is long QID and short QQQQ. RSI is in over sold area.
I mentioned signal because some can confuse it.
out of QID short @ 53.18 and flat now, signal is still short, I just decided to take 42 Cents instead of more. LOL.
Out of Long QID @ 53.70 for 55 Cents profit, Short from 53.60 moved fast, stop 53.95 unusual large stop. Range is wide.
Roy, Hi, Good morning you entered at a good price.
I will take profit on my trade at 53.10 to 53.20 area.
I am uneasy with trade and now stop is moved to 53.60.
It could drop a buck today but I am trying singles.
Signal LONG on QID from Friday 52.80 still no change in it Stop is 52.90. I am long from 53.15 today .
W@G1 QQQQ 03/03/08 for a 03/05/08 close
43.80 rayrohn
42.80 Farooq
41.61 frenchee
40.75 bob3
Spikes are screwing charts.
Sold half position for 3 penny loss. There was 4 penny profit I failed to take it.
Johan Political land scape is changing. I hope we do not repeat some bad and sad history.
I have changed my views McCain can not beat Obama now.
No Middle east connection here.
Mushraff departure will bring Osama's capture or death. I see it happening sooner then what other thinks.
I am long April 45 Calls for 91 Cents. So far no hope to go up but I am following Signal which went long @ 90 Cents, signal time 14:36.
Difficult trading day.
Problem is when ever fed chairman speak he seems more fear full then his testimony other wise we could rally to 1540 on S&P in a heart beat.
War is definitely ending sooner then many people imagination, Iran conflict will go in back ground.
Oil will trade around 50 -60 dollar area. Wall street aware of that and they are marking time till May June.
So they can accumulate all they could. Once war slows down even Dollar will strength and that change a lot of problem.
Democrats should not interfere with free market and let this housing bust take its natural course. We will be better off.
We should prosecute all frauds in housing loan vigorously. Including rouge mortgage companies. Let stupid banks fail, if you save them they will do same mistake again.
There could be few exceptions on humanitarian grounds.
150 Billion which Govt. is offering could be used to give fixed rate mortgages for families making less then 70,000 $ in house hold income. It could charge 1 % below market mortgage rate.
My stops on calls are in trigger mode I was hoping for higher then 43.80 but that seems dream now signal is trying to be short now.
Farooq
John,
I wish that should be true, but thanks for kind words.
Roy, is the best option trader I have come across.
His betting average is far better then the best trader I know and I am great full that he share his wisdom and trades with us.
My system has improved my results, if only I can over come my habit of front running the system.
There is an out side chance we can close positive today or close to positive, if we do not break this support around 2 PM.
This is a wild trading guess. If bulls really want to inflect pressure on bears this would be an ideal point IMOP.
Happy trading.
Roy,
In this market you are up 2 Cents, think about the guy who sold near close and happy with 22 % gain and bought same 23 Cents higher in the morning. He has no idea to hold or just take profit. Looking for clues from friends.
3 out of 4 is saying take profit and run long.
Happy trading.
Edit: I realized I should sell out of March 44 puts @ 1.46.
Actually buying put on index is bullish IMPOV. Market maker who sold is not going to take risk he will not let it go below 43 and if we hold 43 we will go to 46.
Long puts buyer could be long stock and he is not willing to take more then a dollar risk.
Index buyers are supposed to be more sophisticated traders.
It might not be what it look like.
MM will try to push it higher (QQQQ) so he can spread risk or buy back puts from public at lower level.
We can drop tomorrow but chart does not suggest that outcome.
If we fail a resistance we suppose to drop fast bears suppose to hit bulls hard, but they are reluctant.
There is huge change on the horizon, I will try to write when I get time.
Happy trading.
I did sold my puts @ 1.03 that is about 22 % return on equity.
Added 2X march 44 Puts @ 0.83 Cents. There was a big buyer who took 20,000 contract at 93 when bid and ask was 91, 92. That put upward pressure in short term.
I could be wrong, but in coming days weakness is possible.
Edit: I am leaving my desk for few hours. See you later.
I have placed a order to close my puts at 1.10 see what happen.
Sold half 2X March 45 puts for 98 Cents.
QQQQ will try to take yesterday high, Signal is still short.
Roy, Thanks.
I posted on other board my new option trade.
I think we are doing back and filling for new wave. I am open to listen arguments on both side I will write my own after market hours.
Farooq
Edit: Signal is long QID so I am carrying my puts over night.
I sold at 1.10 and some 1.07.
be,
I welcome your visit, please share your thoughts with us about trading. Our people here are great, they are very good traders and we are always looking for better traders. So your addition will be good for our board.
I continue to learn new things from them, and my writing has improved my trading. I have noticed remarkably improvement in my bottom line.
I hope the same for you that contribution of sharing your knowledge will improve your bottom line.
Farooq
Roy I bought some March 44 puts for 0.89 Cents. Signal is long QID now. I went Long QID @ 49.85.
Dave,
I failed badly to take profit when they ran after your post, as they were available.
I did tightened the stop but still instead of profit I took 10 Cents loss.
Signal in that time frame never confirmed long on QID it is trying again to become long.
I will try one more time to front run it. LOL may be not on second thought.
You positioned very well but you had very tight stop. I am glad you still able to make money.
I am happy for your and Ollie's AUY, and Paul's short.
As you know our master trader is scoring consistently.
I wonder how he can watch so many stocks. Great job Roy.
Farooq