Friday, June 6, 2008
StockTrading for June 7 2008 -- A Text Book Stock Market Top
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I posted on this blog yesterday (June 6, 2008) my stock market calls in real-time. The lastest call came in at 3:25PM in which I indicated that I am shorting NDX at 2055.
This morning the stock market gaped down at the open. At of the time of this posting, NDX is at 2015, which is 40 points from the top of yesterday where I got in on the short side.
This up and down movements have been great for short term traders. I will do the count of the profits in NDX points I have made with my calls, but the calls I have been making in just the last 14 trading days in the forum where I post have made more than 300 points. That is more than 15% in just 14 trading days on a major market index. That is a huge number.
The experiment I have been conducting via post in a forum, and here have shown that it is possible to time the tops and the bottoms of the market (at even the one-minute level).
The previous day's low is broken. My mode of operation is now to short rallies. I have put my stops below entry at various points which gurantees a profitable position. I can now do whatever I want to do with my time, and the stop are doing their job to protect profits. Notice that stops on an index of stocks are reliable for short positions, and are not reliable for long positions because of gaps when the market goes down. There is a well known quote "The market climbs a wall of worry, and jumps from windows". That is a main reason why option volatility typically rises when the market goes down, as it goes moves faster on the way down then on the way up.
Happy trading!
This morning the stock market gaped down at the open. At of the time of this posting, NDX is at 2015, which is 40 points from the top of yesterday where I got in on the short side.
This up and down movements have been great for short term traders. I will do the count of the profits in NDX points I have made with my calls, but the calls I have been making in just the last 14 trading days in the forum where I post have made more than 300 points. That is more than 15% in just 14 trading days on a major market index. That is a huge number.
The experiment I have been conducting via post in a forum, and here have shown that it is possible to time the tops and the bottoms of the market (at even the one-minute level).
The previous day's low is broken. My mode of operation is now to short rallies. I have put my stops below entry at various points which gurantees a profitable position. I can now do whatever I want to do with my time, and the stop are doing their job to protect profits. Notice that stops on an index of stocks are reliable for short positions, and are not reliable for long positions because of gaps when the market goes down. There is a well known quote "The market climbs a wall of worry, and jumps from windows". That is a main reason why option volatility typically rises when the market goes down, as it goes moves faster on the way down then on the way up.
Happy trading!
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