Wednesday, June 18, 2008
Stock market, Stock trading, NDX June 18 2008 UPDATE and Summary
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Stock market, Stock trading, NDX June 18 2008 UPDATE and Summary:
The forecast I made in the morning for NDX at around 10:30AM, turn out to be correct not only in price tops, but also in the nature of market action.
The market tried to close the gap, and that was the place to short it.
If you followed the forecast in my morning post (reader it in history of posts),
then you have naild today's top of NDX. You would have made good money on the re-test of the lows which have been a gain of 20 NDX points. "Easy money".
I am going to watch the pre-opening tomorrow. I noticed that in the case of NDX, the gap did not close perfectly. If they open it tomorrow to close that gap, I will short it if and when it shows weakness.
Tomorrow is an important day for the stock market.
We have also to be careful about option expiration, and the games of pinning.
If you do not know about option trading and expiration plays, I would say that you stay away from the stock market on expiration Fridays.
Recap:
1. Latest NDX top was sold at 1993.
2. Covering with 40 NDX points when NDX was at 1953 areas.
3. Re-entering when NDX tried to close the gap present brings other NDX profits on short side.
5. I would not go against the trend. The market is in control of sellers, and should be considered as "guilty" for the long side until proven innocent.
Happy trading
PS: To recieve special reports on trading send an email to emailfinancialtraders@gmail.com so I can add you to the group. Do not be shy to email me, I like to have people to write to.
The forecast I made in the morning for NDX at around 10:30AM, turn out to be correct not only in price tops, but also in the nature of market action.
The market tried to close the gap, and that was the place to short it.
If you followed the forecast in my morning post (reader it in history of posts),
then you have naild today's top of NDX. You would have made good money on the re-test of the lows which have been a gain of 20 NDX points. "Easy money".
I am going to watch the pre-opening tomorrow. I noticed that in the case of NDX, the gap did not close perfectly. If they open it tomorrow to close that gap, I will short it if and when it shows weakness.
Tomorrow is an important day for the stock market.
We have also to be careful about option expiration, and the games of pinning.
If you do not know about option trading and expiration plays, I would say that you stay away from the stock market on expiration Fridays.
Recap:
1. Latest NDX top was sold at 1993.
2. Covering with 40 NDX points when NDX was at 1953 areas.
3. Re-entering when NDX tried to close the gap present brings other NDX profits on short side.
5. I would not go against the trend. The market is in control of sellers, and should be considered as "guilty" for the long side until proven innocent.
Happy trading
PS: To recieve special reports on trading send an email to emailfinancialtraders@gmail.com so I can add you to the group. Do not be shy to email me, I like to have people to write to.
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