Tuesday, December 2, 2008
tomorrow price prediction today: dia spy qqqq trading (December 02, 2008)
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I did not have access to trading until a little after 11AM today. Let us get to business. Title of post is: Tomorrow price prediction today: dia spy qqqq trading (December 02, 2008).
We will start a short-side stock market position, but we have to be carefully in case this turns out to be a reversal day. We do that by using a reduced size position, and by selling out of the money calls(which we may hedge by selling some puts if things do not turn out to be right). Let us start:
11:11AM: with NDX at 1122.ish we entered a QUARTER normal size position by selling calls on the QQQQs ( QQQQ is the Nasdaq 100 eft).
Profit taking:
With NDX at 1100, took profits. Profits are 22NDX points.
Forex Trading:
We are also selling EUR and buying the british pound (selling pair EUR/GBP). Time, price and direction are:
11:58AM: selling EUR/GBP with eur/gbp at .8520 area.
2:07PM: adding more to EUR/GBP in .8535 area.
10:47PM:2:07PM: adding more to EUR/GBP in .8535 area.
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