Tuesday, December 16, 2008
stock market price prediction qqqq dia spy trading (december 16, 2008)
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stock market price prediction qqqq dia spy trading (december 16, 2008)
11:47AM: with NDX at 1214, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking:
Before fed announcement with NDX at 1207.ish: we took profits
Re-entry:
2:38PM: with NDX at 1230, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking:
2:45PM: with NDX at 1218.ish we took profits
we plan to re-enter on retest of high.
2:57PM: with NDX at 1226, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking (Thursday December 18, 2008):
2:33PM: with NDX at 1210, we are taking the latest short position off. Profits are 16NDX points.
Total profits on this post are: (7+12+16)=35NDX points.
Text of the FED Board Meeting Announcement;
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0% to 0.25%.
Since the committee's last meeting, labor-market conditions have deteriorated, and the available data indicate that consumer spending, business investment and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.
Meanwhile, inflationary pressures have diminished appreciably. In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the committee expects inflation to moderate further in coming quarters.
The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability. In particular, the committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.
The focus of the committee's policy going forward will be to support the functioning of financial markets and stimulate the economy through open-market operations and other measures that sustain the size of the Federal Reserve's balance sheet at a high level. As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant. The committee is also evaluating the potential benefits of purchasing longer-term Treasury securities.
Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses. The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.
Voting for the FOMC monetary policy action were Ben S. Bernanke, chairman; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.
In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 0.5%. In taking this action, the board approved the requests submitted by the boards of directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis and San Francisco. The board also established interest rates on required and excess reserve balances of 0.25%
11:47AM: with NDX at 1214, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking:
Before fed announcement with NDX at 1207.ish: we took profits
Re-entry:
2:38PM: with NDX at 1230, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking:
2:45PM: with NDX at 1218.ish we took profits
we plan to re-enter on retest of high.
2:57PM: with NDX at 1226, we are scaling in on short side of stock market. Selling call options on qqqq (nasdaq 100 EFT). size is quarter of intended size.
Profit taking (Thursday December 18, 2008):
2:33PM: with NDX at 1210, we are taking the latest short position off. Profits are 16NDX points.
Total profits on this post are: (7+12+16)=35NDX points.
Text of the FED Board Meeting Announcement;
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0% to 0.25%.
Since the committee's last meeting, labor-market conditions have deteriorated, and the available data indicate that consumer spending, business investment and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.
Meanwhile, inflationary pressures have diminished appreciably. In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the committee expects inflation to moderate further in coming quarters.
The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability. In particular, the committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.
The focus of the committee's policy going forward will be to support the functioning of financial markets and stimulate the economy through open-market operations and other measures that sustain the size of the Federal Reserve's balance sheet at a high level. As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant. The committee is also evaluating the potential benefits of purchasing longer-term Treasury securities.
Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses. The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.
Voting for the FOMC monetary policy action were Ben S. Bernanke, chairman; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.
In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 0.5%. In taking this action, the board approved the requests submitted by the boards of directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis and San Francisco. The board also established interest rates on required and excess reserve balances of 0.25%
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