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Tuesday, June 17, 2008

Stock trading ( Nasdaq 100) June 17, 2008, Update

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Stock traders and investors,

This is an update on the position I have discussed earlier today. The previous post was getting too long as I started this post.

I shorted the NDX 100 segment of the stock market. I did it via the QQQQs. I sold ITM call options. I will explain later in this post how this works in case you have not familiar with shorting, options, indices, etc.

At 11:15AM, I wrote on this blog (read previous post) that I am shorting NDX when it was at 1993. Two hours (12:42PM) later NDX is at 1973, which is a gain (for short position) of 16 NDX points.

More importantly, I am nailing yet another daily price top, after nailing the top of NDX yesterday June 16, 2008.

As I wrote in my previous post, never follow headlines in news saying how great the market is going to be. It is was all over the place this morning before the opening bell. Now, NDX is all red. That is why I wrote to you before the market open to warn you about not being a prey to the pros.

Follow the smart money if you want to make money! Check the PS below.


UPDATE:

3:24PM: NDX at 1970. I just took off half the short position I shorted at 1993. Gains: 23 NDX points. I plan to leave the other half until tomorrow, but my decision can change from now to the close (+ 15 minutes. Do you know why the +15 minutes?).

Happy trading,

PS: I have "1000 trading secrets to share"

Send an email to emailfinancialtraders@gmail.com

Empty emails are fine, or just copy and past this PS, and email it.


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Happy trading,

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