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How is he going to be able to feed his family?
Hi Linda and your welcome. Probably seems like a lot of info. with all of these indicators but even though I talk about everything but them sometimes, it is best imo to just follow them and block out the other stuff. I am still very much a novice myself with these but am starting to pick some of it up. Have to practice the DMI +/- signals and MACD much more though. Lately, I've just been practicing with one indicator at a time with various stocks and indexes. Good luck to you and if you have any questions feel free to ask. One of the people who know more than I do will answer I am sure. Also read through the header box on this thread, lots of good information there.
Bob-I was curious as to what happens to them too. Have never held any (that weren't already worthless ;-0) to the last day. Looks like you needed maybe one more day and the bid/ask would have probably gotten higher. Next time.
Bob, I didn't know the answer but found this article.
(InternetWire) New Sparkle Seen At CBOE With Listing Of Options On Diamonds(R)
New Sparkle Seen At CBOE With Listing Of Options On Diamonds(R)
CHICAGO, IL -- (INTERNET WIRE) -- 05/16/02 -- The Chicago Board
Options Exchange (CBOE) today announced that it will add options on
DIAMONDS(R) (ticker symbol DIA) to its list of products, beginning
Monday, May 20, 2002. DIAMONDS are shares in an exchange-traded fund
designed to track the performance of the Dow Jones Industrial Average
(DJIA). Options on DIAMONDS provide investors with exposure to the
DJIA in one transaction that can also offer the benefit of limited
risk. Buyers of DIA options have pre-determined risk that is limited
to the amount of premium paid.
Additionally, CBOE announced that it has renewed its licensing
agreement with Dow Jones & Company, Inc. to trade Options on The Dow
(DJX), and other Dow Jones Indexes. Exclusively traded at CBOE
since 1997, DJX options have shown explosive growth over the past
twelve months, regularly placing as one of the Exchange's most
actively traded index products. With the addition of DIAMONDS, CBOE
now lists seven Dow Jones products.
David Moran, president of Dow Jones Indexes, commented, "CBOE remains
the number one marketplace in the world for listed options and its
members have built an excellent trading environment for options based
on The Dow Jones Industrial Average. Their unique, sophisticated
hybrid trading floor continues to boost volumes on The Dow contract.
With the Dow Jones Industrial Average and the Dow Jones Euro Stoxx
50, Dow Jones has the most recognized blue chip indexes on two
continents. We are confident that investor demand for products
linked to these leading indexes will continue to grow."
"CBOE is pleased to offer options on DIAMONDS in response to customer
demand," said CBOE Chairman and CEO William J. Brodsky. "We are
especially pleased to continue our business relationship with the Dow
Jones Company, as we both strive to find new ways to create a variety
of investment vehicles that will best serve the needs of today's
investors."
DIA options will represent 100 shares of the underlying DIAMONDS Trust,
Series I, will be American-style exercise and settled in physical
delivery. DIA will trade on the March expiration cycle with
introductory expirations in June, July, August, September, December
2002 and March 2003. Long-term Equity AnticiPation Securities
(LEAPS) with expiration in December 2003 will also be offered.
Initial strike prices will range from 64 to 140. DIA options will
trade in decimals, and customer orders of 250 contracts and less are
eligible for electronic execution on CBOE's Retail Automatic
Execution System (RAES).
DJX options are based on 1/100th the value of the Dow Jones Industrial
Average, are European-style exercise and are settled in cash. DJX
options are available electronically in pre-market trading from 7:00
a.m. to 8:15 a.m. (Central time) on CBOEdirect, and via the open
outcry market from 8:30 a.m. to 3:15 p.m., with customer orders of
250 contracts and less available for electronic execution via RAES.
CBOE also offers options on the Dow Jones Transportation Average (DTX),
Utility Average (DUX), REIT (DJR), Internet Commerce (ECM), and the
Dow 10 (MUT) indexes.
For more information, including contract specifications, on the Dow
Jones index options and the other 32 index option products offered at
CBOE, please visit www.cboe.com/OptProd/ProductSpecs.asp.
CBOE, the world's largest options marketplace and the creator of listed
options, is regulated by the Securities and Exchange Commission
(SEC). For additional information about the CBOE and its products,
access the CBOE website at www.cboe.com.
CBOE(R), Chicago Board Options Exchange(R) and LEAPS(R) are registered
trademarks of Chicago Board Options Exchange, Incorporated.
CBOEdirect(TM) and Long-term Equity AnticiPation Securities(TM) are
trademarks of Chicago Board Options Exchange, Incorporated.
DIAMONDS(R) is a registered trademark of Dow Jones & Company, Inc. Dow
Jones(SM) , Dow Jones Industrial Average(SM), DJIA(SM), Options on
the Dow,(SM) are service marks of Dow Jones & Company, Inc., and
have been licensed for certain purposes by the Chicago Board Options
Exchange, Inc. Options based on the Dow Jones Indexes are not
sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones
makes no representation regarding the advisability of investing in
such products.
Chicago Board Options Exchange
400 S. LaSalle Street
Chicago, IL 60605
Contact: Lynne Howard-Reed, Chicago Board Options Exchange
Phone: 312-786-7123
Email: howardl@cboe.com
*** end of story ***
Cool. Thanks Bernard. So, you have what level 3 now?
I don't know how to get to the Golden List chat room anymore. Any clues?
So Bernard, what are you teaching these people you are working for? lol. I just think you trading with all of this money will just produce more money for them lol. I am sure though it is probably fun to trade with millions. Just so you get your rightfull percentage.
OT: Bob- can you tell the person named Cereal Man of Golden Lits on Silicon Investor I appreciate his Friday funnies? I do not have a subscription there but I look foward to his posts. He always makes he laugh. I noticed you post there sometimes. Love seeing positive people that have a sense of humor.
Bob-LOL. I like the horse racing analogy better. I was going to ask how old they were. I remember when I was spending a lot of time watching one of my nieces from the ages of 4-6 I use to not believe her little insights on the world. And I agree with you about lessons learned. If you can survive the first couple of years of learning about the market, it gives you a whole new perspective on things. Some of the shadiness I wish I was still ignorant of, but since now I know, I am just going to try and use that information and make something positive out of it for me and those I care about. I do think that to make it you have to have a passion for it and it looks like everyone that posts here has that. Good luck to you also. MSFT holding up the Naz again today?
And now that I think about it, it is probably only made legal for the paper producers to have someone to sell to. All of the tickers sort of look like the zillion different lottery instant tickets that are sold in all of the gas stations and stores. I guess the only difference is if your name is Martha or Sam you get to select a definite winning ticket at your own convenience. Guess that is why we constantly study these indicators to try and narrow the odds.
Your nieces are right except since it is legal it is referred to as investing. Amazing how observant they can be sometimes.
Bob, Wtg on the QCOM puts, now 28.50 -3.89!. Nice to see you pull the trigger and profit
Thanks Steve for the QQQ information. That is what it looked like to me yesterday too before it rallied, just a few big stocks holding it up. A friend of mine's husband is thinking of pulling his money from his 401k funds. He did not last fall, rode it down and back up and now he is getting nervous. She was asking my opinion on it but I really do not like to offer any advice to anyone, still a lot to learn here. He saw an article in the Cleveland Plain Dealer this weekend where the author was saying people did not want to put any more money in the market and wanted to wait. Don't know if this would be good anecdotal info. but would point to less inflow money. Any idea where I could find information regarding inflows/outflows for funds? If not, I will look around and see if I can find that.
Here are the max-p numbers for the S&P for April, May, and now June, and the respective dates of options expiration along with the expiration day quote and the quote 7 days before expiration.
April 19 1125 1125.15 1103
May 17 1100 1106.60 1130
June 21 1100 NA 1016 currently
I also went back and checked max-p values and quotes for Feb. and March. and those numbers were not hit. If you notice above for both April & May the seven days before expiration quotes were about 25 points away from max-p, either over or under and "they" were able to hit them by expiration. What I am wondering is this: the June max-p for the S&P is 1100 and we are only at 1016 (84 points below) with only a week to go to expiration. For the S&P to move that much in a week would take a monster rally. I went back and checked weekly historical quotes for the time from August, 2001 to present and the only time the S&P had that much of a gain or loss was the 2 weeks of time after the disaster last September-the week after it lost 126 points and the next week it gained back 75 points. Another thing is MSFT is above max-p now about 4 points-54.85, max-p 50. So, to hit S&P's numbers we have to go way up and to hit MSFT we have to go down. Just wondering if maybe it isn't going to work this month. I guess I can think of things that would affect the market where the S&P would go down a lot, but not up this much.
Good morning Steve and everyone. I agree with you about maybe Monday. Looking at the VIX 3mo. if this doesn't get too much out of hand down today, Monday could be it. Looking at a 3 year, looks like the VIX just got started.
Thanks Bob. Good ideas. EOM.
Thanks Steve. Looking at long term charts for the XAU, the last time certain indicators came into this area (MACD above 0, PPO above 0, & RSI above 50) it lasted for 3 years. Creates many opportunities to trade up and down although I am more nervous about counting on it to go down for a long period of time than back up. I guess I think the downside is limited and the upside who knows? Maybe 92 on the XAU. It didn't quite get there to test that area. Would like to see the XAU get back to 75 by the end of June as I think it would be a good area to buy imo. I am also watching the dollar along with the XAU and see the inverse happening, sort of like maybe the bubble on the long run of the dollar has just burst. An example of this is the period of about 1994-1996. On Zeev, I agree. He is very good.
I know what you mean Bob. Doesn't seem like enough of a rally to be buying puts yet. I was thinking CSCO or MSFT but if the market decides to rally end of month they will not be any good. I am not good at the very short term trades. That is why I read you guys here to try and learn more for that aspect of trading. For instance right now the Dow has pulled back some and even though long term I think is down it can turn on a dime, whether it be short covering or whatever, and run back up. Guess this is when I should be patient until the indicators show me where the opportunies are?
Basically that is what happened last time or very close. The number was 75 last month and it got to 75.70 or so. Buying May calls before expiration would not have been profitable but the June ones would have. I guess I meant to say the reason I don't trust the June numbers is it may be too early and/or I may be able to get them cheaper. If max pain for XAU = 75.00 and I want to buy calls above there (85 or so) it is because I think after the end of the month expirations the market may go down again and maybe gold up, jmo. If they are able to take it all of the way back to 75, they may be able to hold it there through expiration/end of month and I would be stuck with 85 calls. Btw, I don't know who I am referring to when I say they lol.
I am looking at the July XAU 85 and the July HGMCY 17.50 calls. A little expensive for the XAU but seeing what has happened the last time with the max pain theory don't trust the June ones. Might be too early to use the figures, but so far max pain for XAU for June is 75. Going to wait and see if they knock it down some more. So I guess my plan would be to buy gold/silver calls on indu/naz rallies and puts on any of the main stocks on the dow and naz-CSCO, IBM, MSFT, etc. but I think there may be a better opportunity at the end of the month. Also I see the dollar is up a little today. Geez, I just checked Kitco and gold is down over 6.00 today. Guess it wants to go lower.
Well Bob, your feeling about NITE was right. Don't know why this wasn't announced yesterday when they were halted for the supposed software problem.
(COMTEX) B: PREMARKET: NITE Bidding down, NASD and SEC Investigate
B: PREMARKET: NITE Bidding down, NASD and SEC Investigate
Ridgeland, MS, JUN 04, 2002 (EventX/Knobias.com via COMTEX) -- Shares of Knight
Trading Group (Nasdaq NM: NITE) are bidding sharply lower in premarket trading
for the second consecutive session. Yesterday, the company squashed premarket
rumors and blamed the early morning selloff on a computer glitch. This morning
news broke that Knight is being investigated by the SEC and NASD.
GET KNOBIAS IN REAL-TIME: Delivery of this proprietary Knobias alert has been
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http://www.knobias.com/cmtx
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CONTACT: Knobias.com, LLC
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-0-
SUBJECT CODE: PREMARKET
*** end of story ***
I just realized you now have a new hobby Bernard, scalping. How do you have the time with World Cup and sleep too? Another thing on gold. Do a very long term-10 yrs/monthly or more chart on say the XAU and then do one on the USD and you will see the inverse relationship. Also I forgot, the actual price of spot gold and silver. If Kitco.com is ever down you can check here:
http://www.thebulliondesk.com/loadpage1.asp
I have found it moves more in relation to the dollar, dollar down=gold up. (USD ticker is DX`A) For a long time maybe since last summer the XAU stocks were being accumulated even before the market went down last September then rallied into the fall/winter. Now it has started to fall more in line with, market down=gold up but I still don't trust that entirely. I do know that if you ever see a day where the entire market collapses and price of gold goes up 50.00 or more then maybe it isn't a good idea to be trading and look to hide somewhere instead lol. Starting to look like a bull to me. Is that what happens when overbought keeps staying overbought? Had been expecting it to be taken back down some by now. I've never seen a bull market, started trading when the bubble first burst. Watched PALM ipo at something like 140.00 and seemed everything went down from there. Anyways, I would watch and chart the dollar more in relation to gold. It went through a support last week and could go lower, maybe 108.
NITE. This just came across on Mytrack.
(COMTEX) B: Knight Trading Group, Inc. Statement on Pre-Market Trading i
B: Knight Trading Group, Inc. Statement on Pre-Market Trading in NITE Stock
June 3, 2002
JERSEY CITY, N.J., Jun 03, 2002 /PRNewsire-FirstCall via Comtex/ -- Knight
Trading Group, Inc. (Nasdaq: NITE) today made the following statement on
pre-market trading in NITE stock June 3, 2002:
There are no corporate developments at the Company to warrant the unusual
trading this morning. We have identified and are working to correct a software
glitch in the Knight trading system that affected only Knight's stock. The
glitch generated a large series of sell limit orders in Knight stock, which were
routed to various destinations and disrupted trading in our security. This was
isolated to Knight's stock and had no bearing on client business. Knight is
operating under normal operating conditions, without interruptions. We are
working with various execution centers to correct these erroneous orders in
Knight's stock. Knight does not make a market in its own stock.
Knight's strategy is sound, our balance sheet is strong, and we looking forward
to building the business going forward.
Knight is the liquidity center that offers superior execution services to its
broker-dealer and institutional clients in over-the-counter (OTC) and listed
equity securities, and in equity options. In so doing, Knight helps its clients
meet their fiduciary obligation of obtaining best execution for the securities
orders that they route on behalf of their customers. Knight also maintains an
asset management business for institutions and high net worth individuals
through Deephaven Capital Management LLC.
Knight has the power to commit capital for market orders and also maintains one
of the largest limit order books in the OTC market. The Company has
approximately 1,180 employees worldwide and is one of the largest destinations
for stock orders placed via the Internet. Knight traded 135 billion shares in
the year 2001, a volume behind only those posted by Nasdaq and the New York
Stock Exchange (NYSE). More information about Knight can be obtained at
http://www.knight-sec.com or http://www.knighttradinggroup.com.
Certain statements contained herein constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations, estimates
and projections about the Company's industry, management's beliefs and certain
assumptions made by management. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to
predict. Since such statements involve risks and uncertainties, the actual
results and performance of the Company may turn out to be materially different
from the results expressed or implied by such forward-looking statements. Given
these uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or uncertainties
or to announce publicly the result of any revisions to the forward-looking
statements made herein; however, readers should carefully review reports or
documents the Company files from time to time with the Securities and Exchange
Commission.
SOURCE Knight Trading Group, Inc.
CONTACT: Margaret Wyrwas, Senior Vice President, Corporate
Communications & Investor Relations, +1-201-557-6954, mwyrwas
knight-sec.com,
Kara Fitzsimmons, Manager, Corporate Communications, +1-201-3
6-1523,
kara_fitzsimmons@knight-sec.com, or Judy Pirro, Manager, Inve
tor and
Shareholder Relations, +1-201-356-1548, judy_pirro@knight-sec
com, all for
Knight Trading Group, Inc.
URL: http://www.prnewswire.com
http://www.knight-sec.co
Copyright (C) 2002 PR Newswire. All rights reserved.
-0-
KEYWORD: New York
INDUSTRY KEYWORD: FIN
*** end of story ***
I don't know if this would help you but on Mytrack if you hit the Market Pulse button you will get the top 20 most actives for NYSE, Nasdaq, etc.. You would probably have a ball playing these all day the way you like the volatility and bounces. You can also select the most up or down %, gaps, etc.. You could just short the gappers (well, most of them) and try and get the bounce on the down ones. Also maybe look here at the market overview for Barchart.
http://www2.barchart.com/default.asp
Any economists out there that knows what this will mean?
(COMTEX) B: Fed Seeks Shift in Operations
B: Fed Seeks Shift in Operations
WASHINGTON, May 17, 2002 (AP Online via COMTEX) -- The Federal Reserve on
Friday unveiled a significant shift in its operations as the nation's lender of
last resort. It proposed making it more expensive for banks to borrow directly
from the Fed.
Currently, banks that go to the Fed's discount window are able to get loans that
are about a half percentage point below the Fed's target for the federal funds
rate, the interest that commercial banks charge each other for loans.
Under the proposal, the Fed would take away that break and instead charge banks
using the discount window 1 full percentage point higher rate than the funds
rate. If the change is adopted after a public comment period, it would be the
most significant change in the Fed's discount window operations in nearly two
decades.
Currently, the funds rate target is 1.75 percent, the lowest level in 40 years,
and the discount rate is 1.25 percent.
By MARTIN CRUTSINGER
AP Economics Writer
Copyright 2002 Associated Press, All rights reserved
-0-
Well, this is not looking too healthy given the fact the we have been in rally mode for the last week. Doesn't a strong US Dollar correspond with a strong market?
http://stockcharts.com/def/servlet/SC.web?c=$usd,uu[p,a]daclyiay[dd][pb9!b13!b20!h.02,.20!b200!b150!...
IMO it already is. Trading and educational at the same time. Keep up the great work.
Bob, I was talking more about the max pain on XAU and coincidence or not, looks like it got pretty close to 75.00 today. XAU was short term overbought, so that could be the reason for the drop too. Usually though, when the price of the gold bullion is up the XAU stocks are too. Also, if you look at long term charts of the $XAU and $USD you will see the inverse relationship they have. (The dollar is also down today)
I have not heard that theory about the 5 day period for bonds and gold. I will have to look into that. I have been following the gold and silver stocks since the long term XAU chart started looking really good to me, about February of this year. Also saw the dollar starting to fail then. But this is all long term. When I find a sector that shows this long term strength it makes it easier for me to trade those stocks/options on their way up and step out of them while they correct lol. I don't think XAU would help you guys with the very short term intraday trades, but that 5 day theory if true, would help some. Don't know anything about bonds either except that guy named Rick talks about them every morning on CNBC I think. Also agree with RCKS-Steve? about the VIX. If I was holding something I would be a little bit nervous about that VIX number. Anyways XAU is back up now. Have been away for a bit today.
Another max pain thought: The XAU mp is 75.00. Seems that is where it is being taken, even though gold has been back up today. Also, the XAU usually trades inversely to the USD. This is not holding form today. Guess I have to study this new indicator more.
I was wondering the same thing. Kind of like Japan with the deflation problems. Hope not as far as our economy is concerned. Guess it is a fine line. We know inflation is not good, but the opposite can be just as bad.
You sound like a mad Bernard right now. Do not know anyone in that area but am pretty sure you will need an attorney that can practice in GA. At least that's been my experience with legal proceedings out of state, and in your case I think out of country.
Bernard-I am not from GA. Why do you ask? Something foreign show up on your caller id?
Just wasn't sure about a direction so I didn't get into anything today. Have gotten into trouble before because I want to trade too much.
That makes sense now, the delay. Wish the authorities would get to the bottom of this. Have read since then it might be cross-contamination from before, but still need to catch whomever. The market immediately dropped after that report, but is coming back now. Makes it confusing to try and find a direction and trust the signals when these things happen.
This is the kind of surprise that makes me not want to "buy" anything for any amount of time. Amazing we are just hearing about this today when there were people in funny suits walking around the Fed yesterday and Tuesday. Guess they wanted the test results first.
05/09 12:00
Routine Mail Tests Positive for Anthrax DNA at Federal Reserve
By Vincent Del Giudice
Washington, May 9 (Bloomberg) -- About 20 pieces of mail tested positive for anthrax DNA at a Federal Reserve mail handling facility, the central bank said today.
``The affected mail was routine commercial and business mail and did not have any of the characteristics identified by the FBI as suspicious,' the Fed said in a statement.
Internal mail deliveries at the Fed have been suspended.
The tests, described as preliminary, were administered Tuesday and Wednesday by Fed and contract employees wearing protective suits at the mail handling facility, located near the Fed Board building in Washington.
``The source of the possible contamination is not known,' the Fed said. ``Subsequent tests of mailroom surfaces and mail- distribution points within the board's buildings have all been negative.'
Swabs will be sent to a laboratory for further testing, the central bank said
Thanks for all of the good information. What is with your computer? You are always having technical problems lol.
9982 was the lowest it went on the pullback so the 320SMA held. That's if I am reading the 320SMA right. I think it is just below 9980.
So based on the ADX/DMI signal do we have a potential high of day? Anyone? Watching DJV QW in relation to it right now. Have any of you found that we get the HOD within the first 45 minutes or so on an up day?
Actually it is looking like there will be a bunch of them riding CSCO up today. IBM is up 2.00 premarket. We know it will come back down though. MSFT too. Looking to see if COMP can hit and hold 1650 and INDU 9918 then 10k. Everything was looking short term oversold, but the long term down is still in place, imo.