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Friday, December 5, 2008

qqqq dia spy stock market trading (december 5, 2008)

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qqqq dia spy stock market trading (december 5, 2008)

(New trade at 2:43PM. Read it at end of this post)

(IF THERE ARE BANKERS/FUND MANAGERS/WEALTHY/ETC AMONG YOU, PLEASE CONTRACT US. WE ARE IN THE PROCESS OF THINKING HOW TO APPLY WHAT YOU HAVE BEEN READING TO A LARGER SCALE. WE ARE ALSO PLANNING TO ROLL IT FOR OTHER MARKETS. CANADA, UK, JAPAN, and SINGAPORE ARE NEXT IN PLANS. ANY SUGGESTIONS ON ABOVE OR RELATED IDEAS ARE WELCOME).

After making 78NDX points yesterday, and 75 NDX points on Wednesday, it is now time to take the profits on the short we kept overnight.

10:24AM: with NDX at 1096 profit taking. Gains: 33NDX points.

10:43AM: scaling long side of stock market, with NDX at 1097. One quarter of normal
trading size.

Profit taking on long:

10:58AM with NDX at 1109.ish, profits taken.

Re-entry (long):

It is planned at retest of current market low. We have to wait and see.

11:31AM: starting to scale in long QQQQ eft. Size: one quarter of normal size. NDX is at 1102.

11:54AM: with NDX at 1116, profits taken.

This market is under accumulation. We would not short it. It can run to 1135.
We have other matters to attend to. We plan to re-enter on a restest of lows, or on fresh news lows.

We also plan to enter a retirement account position in XLE using fidelity select energy fund as vehicle. This is assuming the market holds at its lows today. We believe a bottom is imminent in commodity and energy stocks which may coincide with a top in the bond market. This could be a ferocious rally in commodities and commodity stocks.

1:55PM: with NDX at 1151, we are going short NDX (qqqq options calls). Size: one quarter of normal position size.

Took profits in area of 1139 (could not report in real-time)

Next shorting is planned at 1155 to 1160 (subject to confirmation).

2:43PM: with NDX at 1160 we are going short NDX (qqqq options calls). Size: one quarter of normal position size.


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Happy trading,

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