Thursday, June 26, 2008
Stock trading, NDX, Nasdaq 100, QQQQ (Afternoon June 26)
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First some remarks:
1. The price level of 1873 was indeed the low of the morning of NDX
2. The price went on many occasions about that price and reaching various higher levels. It went to around 1880 to 1882 at certain point.
3. I took it off with some minimal gain (around 2 to 3 points).
This is my play for the afternoon (and tomorrow morning!). If the market finishes at the bottom today, the price will do three things tomorrow at open time:
1. If gaps up
2. I gaps down
3. Starts where it ended.
If it does 2. or 3. I expect the price to rally in the morning from a low point reached early in trading.
Now to structure myself for gain no matter what here is what I plan to do:
1. Enter half position long side today. See below.
2. Consider entering the second half tomorrow if case 2 or 3. turns out to be the case and my price reading suggests to me an up move.
Now let me deal with the entering into the first half normal size position. I plan to carry overnight or close it in after hours if there are some profits in aftermarket.
3:09PM: with NDX at 1864, I am entering the half normal size position long side of NDX.
3:12PM: entry of half position complete. Average around 1863.
Happy trading,
Email me at: emailfinancialtraders@gmail.com
1. The price level of 1873 was indeed the low of the morning of NDX
2. The price went on many occasions about that price and reaching various higher levels. It went to around 1880 to 1882 at certain point.
3. I took it off with some minimal gain (around 2 to 3 points).
This is my play for the afternoon (and tomorrow morning!). If the market finishes at the bottom today, the price will do three things tomorrow at open time:
1. If gaps up
2. I gaps down
3. Starts where it ended.
If it does 2. or 3. I expect the price to rally in the morning from a low point reached early in trading.
Now to structure myself for gain no matter what here is what I plan to do:
1. Enter half position long side today. See below.
2. Consider entering the second half tomorrow if case 2 or 3. turns out to be the case and my price reading suggests to me an up move.
Now let me deal with the entering into the first half normal size position. I plan to carry overnight or close it in after hours if there are some profits in aftermarket.
3:09PM: with NDX at 1864, I am entering the half normal size position long side of NDX.
3:12PM: entry of half position complete. Average around 1863.
Happy trading,
Email me at: emailfinancialtraders@gmail.com
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