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Wednesday, July 9, 2008

July 09, Stock Market, Stock trading blog, Nasdaq 100 trading, QQQQ trading, NDX trading, Dow trading

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Stock traders, stock market traders and investors, stock blog trading readers:

Salutations from this stock trading blog site editors (July 9, 2008)

9:44 with NDX at 1858 I took half of yesterdays short position off. Average cost of yesterday's position was around 1866.5. That makes a little profit of 6 NDX points.

I plan to re-enter on short side if restest and fail, or break out of yesterday's high and than fade it. This is plan for this morning only. Afternoon may have a different strategy.

10:26AM: with NDX at 1868 I re-enter what I took off at 9:44AM.

10:41AM: with NDX at 1859, I took the latest half off. Profit 9NDX points. Total today (15 NDX points on half position).

11:05AM: with NDX at 1869, I re-enter on the short side what I took off at 10:41AM.

11:41AM: I stepped out and just go back. I will check if yesterday's high was taken, but I could see the price have run down from area of previous day's high as if chased by someone/somepeople. Some people muse be waiting in there and praying to get out of their long positions established yesterday at end of day.

The price is behaving as described in yesterday's post when we discussed Wednesday and Thursday's typically price behaviour.

UPDATE on the "EUR JPY War" the Editor of this Blog Declared Yesterday. He commanded the battle of this morning. see chart attached.

I have now to attend to other things, but I am going to put in orders to complete a full size position on short side of NDX in area of 1880 if it ever goes there during my absense, and will revisit it if and as time and access to a connection permit.

1:54PM: with NDX at 1852 I took the half (I shorted at 11:05AM) off. Profit on this one is 15 NDX points.

Realized total profits so far today are: 30 NDX points.


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Happy trading,


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