Unloaded some C at 3.49..

Let see if it can break out or break down.

Also, went back into TCK@40 to ride up a bit more since Dow broke the 10500 barrier.

This post has been edited by danmooncake: Mar 5 2010, 11:50 PM

I'm not holding any ERX now. I see TCK could pop its all time high of 41.45 by next week of we continue this uptrend to retest Dow at 10700 and S&P 1150.

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Added on March 5, 2010, 11:56 pmWhy? Are you bear? Just wait..gotta be patient.

It will take another week or so for this bull to reach the end.. then play the short game.

This post has been edited by danmooncake: Mar 5 2010, 11:56 PM

In that case, you may to wait for a little longer for the pullback. This train is going northbound now.
Just 15 more points for $SPX and 170 pts for $DJIA to reach target - perhaps 2-3 more trading days like this.

Or if you dare, scalp some on the way up.. with tight stop.

What's your play, by the way?

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Added on March 6, 2010, 2:03 amCongrats!! Well play!

Closing update:
Dow 10566.20 +122.06 +1.17%
Nasdaq 2326.35 +34.04 +1.48%
S&P 500 1138.69 +34.04 +1.48%

Wow! Very nice close.
Next week, we'll most likely to see all time high again.

This post has been edited by danmooncake: Mar 6 2010, 07:06 AM

Don't you want to ride the bear as well?
I think bear train should start sometime next week.

This post has been edited by danmooncake: Mar 6 2010, 10:09 AM

For those that has reached 52 weeks high or going to get there will have high probability of pullback.
Take a look at TNA.

Yes. TZA is the bear share of TNA. It is at 52 weeks low (inverse of 52 weeks high of TNA).
Watch its price action next week before diving in. It can make your heart pound 3x faster if you buy it without looking.

As this "energy saving" time.. US people call it "Daylights Savings Time", it begins next Sunday, not April.
I know this because I have to adjust my working hours too due to time difference adjustment at my call center.

AIG being pumped by MetLife deal this week.

There is no expiration date unless you're playing option.. just that it will decay if the trend is not in your favor.

By the way, C holders - we got a break out today. If it can close above 3.5, we'll have a new trading range.

Some profit taking at the moment...some traders are unloading here.
I got stop out at my TCK: 41.50, small profit here.

I think market wants to see 10700.. just approx. 130 points to go before reversing.

Nice trade.. congrats!

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Added on March 8, 2010, 11:58 pmYes, if China starts dumping treasury, Fed will have to raise rates to make them attractive again. When it happens, we'll have the pull back. Now, it is just trending along. The technical for bulls now are closing to the top. I believe a small pull back should happen by next week or as early as end of this week.

As for C, keeping some C shares make sense now that it is above the 50MA. I look forward to add more if we pull back to 3.30-3.38.






This post has been edited by danmooncake: Mar 8 2010, 11:58 PM

Probably by early next year..
It will need to go above $4 first.. which is a major resistance for now.

Fed liquidity removal coming: Fed launches reverse repurchase agreement program
First warning shot?


Closing update:
Dow 10552.52 -13.68 -0.13%
Nasdaq 2332.21 +5.86 +0.25%
S&P 500 1138.50 -0.19 -0.02%

This post has been edited by danmooncake: Mar 9 2010, 06:19 AM

C has a breakout yesterday from 3.50, now above 50d MA.
I think it will move up to 3.76 shortly.

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Added on March 9, 2010, 10:35 pmepal: It doesn't matter which broker you use. The rules are the same for daytrading. You must have a margin-PDT account - min $25k. Once you've exceeded 3 daytrades within 5 bus. days, you can't trade until all your funds are cleared.

STEC will most likely hit resistance at 15.13 first.



This post has been edited by danmooncake: Mar 9 2010, 10:35 PM

We haven't hit the highs of January yet. Don't turn on bear mode so quick and go short..
But, try to sell off some if you already hit the target selling price.

Anyway, I see LVS top: 20.73, shorting it near $20 or higher should be ok.

Those reports could be bullish too..

We need more dire straits stuff - like more uncertainty in Euro zone, China banks suddenly found tons of bad loans rising, US mortgage rates reset - higher than expected foreclosures..

Dow: 10600
S&P: 1145

Still on target..to touch new January high.
Come 'mon bulls.. you can do it.

Update:3:00am
Executed my CSCO 26 calls. Already up 250% from last month.

Closing update:
Dow 10564.38 +11.86 +0.11%
Nasdaq 2340.68 +8.47 +0.36%
S&P 500 1140.44 +1.94 +0.17%

The pop to 10600 fizzled away. The bulls are indeed weaken.
This Market is probably going to continue sell into any rally until we turn south.

Look at C - just blew past my expected resistance level at 3.76.
Hopefully, it can touch $4 before the next down turn.


This post has been edited by danmooncake: Mar 10 2010, 06:39 AM

Erroralot: C run up already started since it broke above 3.5 two days ago. C now has the potential it reach $4.1 as the next ceiling for resistance. If you want to buy, better use tight stop.

ozak: Look at the chart, small bull market is almost over.. we've recovered from the 9% dip in Feb, and now.. it is almost Jan high again. Almost bear time again.

Looks like another flat day to me. Bulls are tired.. but continue to push little by little. I think the market wants to see Jan high again before another pull back (most likely to 50MA).

Watch Financials..they're are taking off.. C and the rest are taking XLF to higher. FAS blew the top and over 86.

Disclosure: I'm long C (accumulating slowly and selling some at the top of the BB channel). 1500 shrs @ 3.55 avg.
I'm going to sell some off if we get above $4 or near 4.1

STEC is like a feeding frenzie. Those who got it below $10 are laughing the way to the bank.

Feels like I'm about to do the unthinkable - getting ready to short TNA and AAPL.

This post has been edited by danmooncake: Mar 11 2010, 03:55 AM

Closing update:
Dow 10567.33 +2.95 +0.03%
Nasdaq 2358.95 +18.27 +0.78%
S&P 500 1145.61 +5.17 +0.45%

The bulls tried to rally but got stomped down again. The only ones able to edge up are mostly tech stocks: AAPL, GOOG, INTC, QCOM - thus Nasdaq got a nice bump!

ERX - holding period. Not adding any or shorting at this time. Yes, I would get some at 200MA (not 50MA).
TIVO - no play here.

New on my short list:
SCOK - shorted @ 38 yesterday
This thing is too overcooked (aka "goreng") on the upside. Now, down she goes!
I'll cover it probably tomorrow when it most likely hit $30.

This post has been edited by danmooncake: Mar 11 2010, 07:31 AM