Ad astra per aspera...
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But look who's smiling when I'm not watch SPY and futures all freakin night long....omg.....really? Do people to that?....um...yes they do....
Verified trades http://profit.ly - As you know, too many people aren't honest about their trades really and with that site you can be more transparent. Unfortunately there are still some people who only ever post gains over there too.
But as for me i just wanna get it up and running properly so i can verify my trades from next week on.
Because that is the issue. I see a bigger picture of a stock and know that i would get 100-500% gains and either i don't take profits when it's at 100% or i chicken out and sell even and next day i see those Calls/ Puts up 200-500%
Then I also had bad entries with losses like VXX today.
It's just too much of unecessary mistakes lately, when it would be so easy.
So it's better to just step back, relax and chill for few days and come back again and learn from mistakes.
Cheers
I will be back trading after new years but my next experiment will be to just shut up for a while and trade quietly and post verified (profit.ly) trades here. I have noticed that the more i post/ tweet the less satisfying my trading is. Maybe it's some sort of psychological barrier where i try to create good calls so people stroke my ego but in the end that's complete BS.
I have seen the mistakes in the past few weeks i've made, which were mostly my own greed and not sticking to my guns.
From next week on after new years I will go through a "rehab" of just taking 30-100% whenever they show up instead of being too greedy.
And i will try to get profit.ly up to verify all my trades when I post them.
I hope to come back with a vengeance next year, left way too much $$$ on the table with unnecessary stupid mistakes lately, especially in the past few weeks.
Wish you all a great profitable end of year and a great 2012!
See you soon!
I think i need to take a break from trading for a little bit (it's holidays anyway)... I just have left way too much $$$ on the table lately by either seeing good plays, going into it but then chickening out (not sticking to my guns) and selling for even (when a day later i coulda sold for 200-500%) or not taking profits early enough or going into bad plays.
Lately it's just not working out for me for some reason. Something like a little more luck is missing or something.
Just not happy and it's not good to force things.
Take care all
AAPL made another stupid mistake: Bought 415 W Calls last Friday @ .40, coulda sold at 1.50 today :( - Sold on Friday @ .42 instead after it dipped again, arrggghhhhh!!
Got some AAPL W 420 Calls @ .55
Go VXX!
SPY almost in 125's - Santa is done.
U.S. home prices fell more than forecast: http://www.bloomberg.com/news/2011-12-27/home-prices-in-u-s-cities-decline-more-than-forecast-case-shiller-says.html
SPY: and back down again. Wonder if it breaks below 126 pre-market
SPY: nevermind lol, we'll see later
SPY: Gapping down. Thank god, for a second I thought market just goes up forever ;)
I'm not sure why one would be so optimistic about markets either. EU is on the brink of it's financial melt-down/ break up (that will affect world markets enormously), the USA is in huge debt too, China faces a housing crash like the US had few years ago, an attack on Iran by Israel/ US is still a high possibility next year (= oil through the roof and world economy down the drain), etc etc...
The recent "Santa Rally" into Xmas is more like a small Xmas gift on low volume and currently a little overbought short-term.
Markets don't just go up infinitely and in one direction. Not saying we won't see higher levels but i'm sure we'll see many up & down's.
There's just too much BS out there right now for the markets to rip all the time.
Because the S&P downgrade of France hasn't happened yet. More EU BS coming in 2012, watch. A EU-break up or partial break up possible too. Italy, Spain + Greece still problem children.
Oh and 2012 could also be the year of China housing crash (like it happened in the US few years ago).
For next week I do think we'll see a slight correction (after these 4 days of up) but then 130's isn't out of question early January followed by a big correction.
We'll see, nobody can really predict things.
As far as crash goes, I wouldve thought that if a crash is coming, why has'nt it happened based on all the crappy news that has already been put out there?
Everything still flat, 0 volume. Glad I went to see some art today instead of trading.
Wow! The SPX next 5-10 bagger? Going to 12,000? lol
lol! Me too jb, not trading anything today. Looks all very much flat, no volume at all.
Going to see some museums + shopping.
Hope you had a good weekend
Uhm, that's from 12/23 - futures do not trade until tonight
12/24 Market Update (Video):
by http://thechartpatterntrader.com
SPY: Last half hour of trading on Friday was maybe just a bull trap :)
I hope next week lol
I would start accumulating that sweet Crude Oil Futures next year. The Israel/ US vs Iran/ Syria show-down is coming, probably in Spring/ Summer 2012. - Strait of Hormuz closed = Boom, price of Oil through the roof.
Quite the dough buddy ;) half million in Crude oil (light sweet, stirred not shaken that is)...
Mind getting me a yearly iHub gift subscription? :)
lol lol j/k
Buddy, is that close to a half million $USD you have in "Light Sweet" Crude Oil Futures?
lol, no doubt about that... the question is... when in '12 :)
SPY (Video): this guy calling for 138 because of "inverted head & shoulders". Not saying it can't happen, but not before a short-term dip maybe since SPX/ SPY has touched the 'toppish' trend line form previous top since 6 months.
SPX/ SPY/ VXX - Interesting read:
Friday definitely felt like a "blow-off top" or a "melt-up" in just a handful of defensive/yielding blue chip stocks setting new all-time highs. But yet many high-flying stocks continue to fall! Gold did nothing! Small caps did nothing! The Transports lagged the indexes! The banks were mixed! Oil couldn't break $100! And therefore, Mutual Funds continue to underperform!
Funny how the VIX fell slightly and the VXX/TVIX climbed steadily for the second day in a row. Something's going on here!
Trading days after Christmas have been in recent years "down days" for the markets. I guess that's because unlike the record sales of Black Friday and Cyber Monday which propel Santa rallies, record-setting holiday gift returns cause sell-offs in the last week of the year.
Also, lets see what happens on Tuesday morning when the Italians hold their first of hundreds of bond auctions for the upcoming new year. I saw yesterday morning their bond yield was already climbing to 7% again. So, what happens if goes to 8%, 9%, 10%...?
Look at the trading volume on the $SPX
4 up days in a row but volume fell each of those days?
low volume rallies are a bad sign.
tells me shorts are covering but no new money is coming in.
As soon as some bad news spooks the markets again shorts will pile back in and a new sell-off will kick in
But but, Mikey... Santa was here, he just didn't put any gifts into GS (GoldmanSucks) crooks' socks ;)
I'm always happy to see GS go down but i'm sorry if your trade in GS calls didn't work out.
You still in VXX? Maybe we could see a nice bounce next week there, or so I hope: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70259225
SPY kicked my ass this past week. Maybe VXX will recoup my losses in SPY
SPX/ SPY: Maybe Tuesday is a gap down day now that everybody was chasing it into highs EOD. And there's the double-top (short term). Not sure. Maybe it will gap up anyway. It could go higher into 1300/130's but maybe we see a dip first.
The way TVIX/ VXX is setup they both scream for a bounce while S&P's could take a little dip.
These markets are like throwing a dart at times. Or flipping a coin.
VXX chart:
Check what happens on the chart each time a valley/ short-term bottom formed. The next days follows either a big bounce or a big gap up.
Is that the reason why VXX was up yesterday while VIX down (even though VXX should've been down too)? Maybe a lot of the big boys expect it to shoot up/ bounce?
I personally said that maybe it's too early to get in VXX (unless for a quick day trade) but then looking at the chart again it bounced off the ma200 and so that's why i went into Quarterlies anyway. It just screams like a gap up/ bounce is coming. RSI bounced off too as well as MACD looking like it's turning.
Obviously not if SPX/ SPY does well on Tuesday/ next week. We'll see.
Anybody with more thoughts? (and happy Xmas weekend)
POT: Damn that was disappointing. Out @ .11 from .12 on my calls but coulda sold for almost 100% this AM. Never expected it to dip like this today, thought another white candle for sure after yesterday's run.