I would wait until the dust settles or bottom before going long.
Just perhaps -1% to -2 % or max -3% more to go on the Dow or S&P500.

Good luck!

Update:
Looks like Oil gave up the gains too.. damn.. just short of 10 cents to re-enter short position on ERX and it flew away.

But, C is resisting the move downwards.. look at this thing.

This post has been edited by danmooncake: Feb 5 2010, 11:29 PM

Duh, STEC no hit at 14.00

URE on board x 700 @ 6.05

STEC will get to 14 soon..at this rate.

S&P has broke below 1050.. another trap door opens.

Update: 2:45am
Dow 9866 -137
S&P 1046 -16
Nasdaq 2102 -23

Selling will continue tonight.

Sold FXP 10.60 (small profit), Bought more C 3.15, TCK 30.10 and SLV 14.40 for longs.


Closing Update: 5:10am
Dow 10012.38 +10.20 +0.10%
Nasdaq 2141.12 +15.69 +0.74%
S&P 500 1066.29 +3.07 +0.29%

Looks like more bargain hunters came at the last hour,
or perhaps US Govt PPT (or Bilderberg) stepped in and bought this market.
Anyway, a close above 10K and S&P1060 is nice but will try reposition shorts again next week..

I think we're close to the bottom here. I figured the sharks wanted to take down market 10%, and we got
around 8% on intraday timescale. Perhaps one day of selling here or a small dive below 10K and
perhaps that's it for this round.

This post has been edited by danmooncake: Feb 7 2010, 11:08 AM

May be the big shark is collecting bullets to push market further down..

Too much short from them, so must cover..
Bear market theory apply here.

---

Added on February 6, 2010, 9:02 amNo way ERX and other stocks can go up..

May be just prepare for further drop..

This post has been edited by epalbee3: Feb 6 2010, 09:02 AM

Yes, most likely we'll see a bump up early next week and followed by dive again.
Sharks may want to collect another 2-3%.

This post has been edited by danmooncake: Feb 7 2010, 11:10 AM

YOYO, almost breakin back 10k

Anyone want a counter that is down 50% and climbing steadily now->

http://www.google.com/finance?q=NASDAQ:CTIC

Oh be careful, that's penny stocks. More volatile than 3x ETF.

The market feels like it wants to puke and roll over. Perhaps the only thing holding up are the commodities and dollar.
Dollar taking a pause now after riding up last week. Colder weather in US crept back in during the weekend keeping Oil price slightly above $70.

Closing update:
Dow 9908.39 -103.84 -1.04%
Nasdaq 2126.05 -15.07 -0.70%
S&P 500 1056.74 -9.45 -0.89%

Bloodshed has not stop. Just two more percent to go..

This post has been edited by danmooncake: Feb 9 2010, 05:44 AM

9k will be seen pretty fast in this pace.

may be lowyat members can take rest now and plan for next strategy.

the bear may take months to see the real dip.

Meanwhile, do observe what will happen to the large debtor US.

I'm not entering for now. Clueless. There's always news that bring market down. Now is EURO Zone debt.

Shit, ING paper loss is huge but still smaller than C

Happy Chinese New Year & Wishing all a Prosperous Tiger Year
have a nice holiday & do manage the TIGER, as not sure it wanna lick u or makan u

too late.
queue for ING filled yesterday.
added to my loss for LYG bot last month...

Looks like we're ready to get a bounce today.
Let see how high it can go.

---

Added on February 9, 2010, 10:17 pm12 years ago, the year of the Tiger was horrible to the market (esp. Malaysia). The prior time, same thing.
Year of Tiger = always like Year of Bear to the market esp. Asian market.

Update:
I'm out of all my shorts for now.. waiting for better opportunity to reshort again if we get a better pop later.



This post has been edited by danmooncake: Feb 9 2010, 10:28 PM

just my sentiments....after flying high for a while and it becomes free fall...

i agree with this opinion..

shouldn't be, now should be in profit

Finally, breaking 10,000. Thank you Hong Kong!

huge loss for LYG purchased last month.
still not able to cover losses, esp after deduct the exp CIMB brokerage fees...

This post has been edited by syong: Feb 9 2010, 11:23 PM

It won't be a loss until you sell. You may want to ride up if the trend changes.
The Dow and S&P got a lift off.. but we shall see how it close later otherwise bear trend still intact.

Unloaded my UUP pre-market for neat profit.

u-turning liao?

No.. I'm still bearish at the moment.