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Wednesday, July 2, 2008

Stock trading, stock market, XLF trading, NDX, trading, July 2, 2008

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10:17 AM with XLF at 20.64, I shorted it to hedge ("take profit") on my position in the retirement account.

earlier today when NDX was at 1873, I tried to enter a short position, but they did not fill my order. I was selling short calls on the QQQQ (bearish), at the ask price and the folks at known exchange (I do not want write names here) are well known to play games. I hope there will be a restest of that level this morning for me to get in. I was watching the national best bid offer (NBBO) price. It reached my price, but they did not fill me.

ALERT: 10:48AM with DOW at 11432. I would take my profit if I did not earlier when dow first reached that level. Retreat is possible and is imminent.

At around 11AM with NDX around 1866, I could not take it anymore so I went in as I felt that the earlier high may not be restested this morning.

11:06AM: NDX is now at 1856. My decision to enter is then good. Already 10 up 10 NDX points.

11:09AM: Dow is at 11385. That is close to 50 points profit to those who may have followed the alert in this post. The alert above have so far called the top of the morning.

11:35AM: with NDX at 1846.50, I took half of my position off with around 20 NDX points profit.

Now I am going to do some other matter, and will come back later.

Dow traders: DOW is now at 11346. You have now clos to 90 points profit. Some strong buyers are showing up. My intelligence unit reported seeing them at mile 11330, and they are moving up north. Understand that they do not hit you in the back if you are short. I would manage my position by taking some profits off the table.

11:54AM: with XLF at $20.29, I just took off half of my profits on the short XLF position. Profits are $0.35.

ALERT: Dow is at 11330. You know have 103 dow points in a little over an hour. Bulls are around you. Be careful.

UPDATE: It is official. This blog nailed live both the top and the bottom of this morning. As I wrote about the bulls were indeed at 11330 area.

I am late for this other thing. I will blog later.

(addition by member of the management of the blog is below (blogger plans to blog later)


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Anonymous Vasco Santos said...

Better fix the typo about the point you took profits on NDX. Should be 1846...

July 2, 2008 at 1:00 PM  

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