Stock trading: QQQQ, NQ, NDX trading (stock blogging August 14, 2008)

Stock trading: QQQQ, NQ, NDX trading (stock blogging August 14, 2008)

After nailing the top of yesterday, and the top of monday, let us look at today Thursday August 14, 2008. Here is the post of yesterday in which the top was nailed:

"2:54PM: We are about to start going short on a retest of high.

3:01PM: NDX is now at the 1955ish. We are going short."

Now for today:

10:28AM: with NDX at 1951, we are getting ready to start shorting. Current estimate of the top is in the 1952 area.

10:34AM: NDX is now at 1953.ish. We are starting shorting. This prediction has a less than usual likelihood to be successful. We are then using a smaller size in the trading than what is usual.

The size we are using is 1/2 normal size. If there is a break of yesterday's high, then we will assess whether we should add a second half after the break of yesterday's high.

10:54AM: NDX is at 1961. We are getting ready to add the 1/2 of the short position if this restest of high.

10:59AM: price run away on placing of order for second 1/2 size. So we are unfilled. This order has been removed.


2:04PM: with NDX at 1965.ish, we added the second 1/2 of the position size.

Good luck!

QQQQ NQ NDX trading (Stock market trading, August 13, 2008)

2:54PM: We are about to start going short on a retest of high.

3:01PM: NDX is now at the 1955ish. We are going short.

Stock marketing trading, NQ, NDX, QQQQ, QID, Trading

Stock marketing trading, NQ, NDX, QQQQ, QID, Trading and investing (August 11, 2008)

Dear readers of this stock, forex, options and futures trading blog: Here is what we start doing on short side of NQ trading, NDX trading, QQQQ trading (and long side of QID).

(Readers who log from lehman.com, schwab.com, harvard.edu, and fidelity.com. Could you please send us a note? It is just to exchange with you. Thank you)

12:45PM: With NDX at 1954.ish, we are starting to scale on short side.

1:33PM: With NDX at 1959.ish. scaled in another part.


EUR/USD:

1:35PM We started scaling in long side. EUR/USD is now in 1.4885 area.
2:16PM: chart contained entry and price action so far after entry.


2:37PM: with EUR/USD at a bit above 1.4925, we took a bit more tan 40 pips profits.

4:15PM: we are back again to our scaling on an entry on long side in the 1.4890 area.

8:09PM: EUR/USD at 1.4925. We are taking profits (some 35 pips).

EURO Dollar (EUR/USD, USD/EUR, EUR-USD, EUR/USD): Wall Street Thinks of it as Rally, We Think of It As Bull Market For The Dollar

We just read and article in Bloomberg regarding the dollar move.
When pin stripped wall street guys show up, we at this blog, are already counting the profits. Some may still be asleep, while others are still thinking the dollar is in a bear market (as they use the term rally for the dollar's move). Others have just woke up and want to buy the dollar.


Either way this blog is about the bank the 1000 pips, and possibly flip it over for a small and faster number of pips if it is judged to be worth the risk.


Our job is to make the money from the bankers, who then make money from their customers, who then can only lick their wounds and hold bags. Sorry that it is cruel as stated, but currencies are a negative sum game!


The readers of this blog knew about the dollar move before it started. As to the rest, let us say that it is their fault not to read the right material or not to sit under rocks.

To your profits,



Excerpts from Bloomberg are:

"The 4 percent surge against the single European currency this month was enough to prompt Bank of America Corp. to tell its customers to exit trades betting on more gains. Morgan Stanley still forecasts the greenback will approach a record low by October as the U.S. housing slump and credit-market losses keep the Federal Reserve from raising interest rates this year."

"Barclays Plc in London and New York-based Merrill Lynch & Co. said trading patterns suggest the dollar's 5.1 percent gain in the past three weeks measured by an index of six major trading partners can't be sustained."

That's mostly because there's no indication the U.S. will return to the late 1990s annualized gross domestic product growth of 4.23 percent with inflation running at no more than 3.3 percent. Since September, 2000, the dollar has declined more than 44 percent as inflation accelerated to an annual 5 percent today, growth slowed to 1.9 percent and U.S. interest rates provide no cushion for holding U.S. assets..............."

Unsustainable Recovery

"The dollar strengthened to $1.5005 to the euro last week from $1.5564 on Aug. 1, the biggest weekly increase on a percentage basis since January 2005. It surged 2.08 percent on Aug. 8, touching $1.4998, the most since Sept. 6, 2000, and the second largest rally since the euro was introduced in 1999.".........


"
U.S. economic data suggest that a sustained recovery isn't imminent, said Robert Sinche, head of global currency strategy at Bank of America in New York. Interest-rate swaps indicate the currency should trade at about $1.54 per euro, said Sinche, who still forecasts that the dollar will strengthen to $1.45 per euro by the second half of next year."


......