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Wednesday, December 3, 2008

dia spy qqqq tomorrow's price prediction today (December 03, 2008)

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As per the alert of in previous post, at 10:34AM we are back to reporting live on stock market timing and price prediction for December 03, 2008. The previous post of today is dedicated to the bond market trading. As it is an important topic that we do not cover as frequently, we herefore we switch this post on and off to allow for the bond trading post to be the lead story, but we will keep an alert on the bonds post for today's stock market trading in case we do so.

10:34AM: we took profits on a long stock market (qqqq, NDX, spy, dia) position we established near open, and we reversed to short side. NDX is at 1134

10:56AM: with NDX at, we are scaling in a second quarter of normal trading size. Direction short side of NDX.

11:05AM: with NDX at 1152, entry of second quarter of normal trade size is complete.


2:08PM: with NXD at 1120, we are taking the profits on short position.
Pofits on short position are: 29NDX points on one quarter size (second), and 14 NDX points on the other quarter size.


2:27PM: with NDX at 1141, we are scaling in on short side of QQQQ. Size: one quarter of normal trading size.

2:51pm: with NDX at 1156, we are scaling in the second quarter of normal trading size of short qqqq, ndx (same direction as dow, sp500, dia, spy).

The market is like a person with high blood pressure. The person wants to sit quietly to let pressure go down, but if touched it knifes the side that caused it to move. The bulls and bears keep touching the market, and each side get cut by the market knife.

In markets language, the market has high implied volatility. It wants to get rid of this high implied volatility so that it can have a smoother move up. To get rid of this implied volatility, it want to sit quietly or bankrupt the weak hands on each side. Once all the weak hands are off it, it will take off (smoothly).

Profit Taking:

3:03PM: with NDX at 1140, taking profit off on the quarter entered at 1156. Profits are 16NDX points.

Tally of profits for today (per quarter size):

26NDX point (long side which was not done in real-time)+29NDX+14NDX+16NDX= 75NDX points.

We might re-enter a second quarter on short side if market reaches 1165. Tomorrow is Thursday, and I do not trust thursday's for long positions.

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Happy trading,


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