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Tuesday, February 24, 2009

QQQQ NDX trading tomorrow's and today's stock maket price prediction (February 24, 2009)

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QQQQ NDX trading tomorrow's and today's stock maket price prediction (February 24, 2009):

Below is the call we made yesterday. It is now time to bank the profits.

10:49AM: with NDXt at 1157, take profits on all positions. We will do the math later. It is not a big win, but it is a win. A win is a win, and I will take it any time in a business where people lose most of the time.

To your profits. Text of yesterday's call is below.

"

tomorrow's and today's stock maket price prediction (qqqq, spy, dia, ndx, nq, spx, djx trading, (February 23, 2009)

The last call on this stock trading blog was that you maintain a short bias since February 06, 2009. That call was made when NDX was at 1280 area. NDX is not at 1155, on February 23, 2009, at 10:14AM.

The short bias has ended, and we are now starting our scaling on the long side of stock market. The estimated move is not as fast and long as the short side move we nailed, so this should be done with a reduced size. In addition the market is still to confirm a reversal to long side, but we are starting our scaling in on long side in the habit of this blog.

The long side call is however less probably and somewhat more risky then prior calls. One should consider waiting for a confirmation below boarding the long side bus. We proceeding by entering in small pieces, and with an overall smaller size than usual, and also do it by selling puts which offer some cushion in the premium in case the market does not cooperate and/or take its time to move up.

We will issue an update once we have a clearer signal on long side.

10:15AM: with NDX at 1154, we are starting to scale in on long side of stock market.


12:12PM: NDX is at 1143. Market is at what we think is today's bottom. Possible fireworks later on, but it is not certain. Also, watch out of the closing hour, as funds may show their hands and sell a possible bounce. If they sell, it would end at the bottom of today. We know that fund managers are generally backholders. We will review this later.

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Happy trading,

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