Wow.. after come back from lunch.. surprise to see we're on v2.

Anyway, looks like someone wants my ERX badly.
Sold off 1/4 position early this am before extended pm trading close.

Holding 1/4 position for both TNA and ERX into next week.

Going to take my afternoon nap.

You're right on the nail head. Next month Jan 2010, we'll get the December month unemployment data and it may be down because of a lot of "temp" hiring during festive season. I know this because I work for outsourced US companies and we're processing a lot of their calls. US Thanksgiving to Christmas is the busiest times for retailers. I say "temp" because it is for what it is. A lot of retailers aren't hiring permanent staff and a lot of them don't have benefits. After the New Year, their contract will be terminated and they will have to look for openings if the companies are willing to open up more slots.

This may give false impression to market that we're on recovery. Be cautious. Just trade the trend.

Those who shorted Gold/Commodities and who long Dollar got a surprise break yesterday but it won't last.

Good luck to all.

Looks like we're going down..
Oil below $75, Dollar Up, VIX up slightly.

But.. looks like we're ok since it close to fair value.

This post has been edited by danmooncake: Dec 7 2009, 10:04 PM

Sold TNA 39.05

I'm selling the pop. Market internals look weak.

Energy and metals commodities are going south..,financials heading that way.
Dollar up, Rest of Stocks maybe undecided 'coz small caps holding..

Watch that Dollar. If it continues uphill, equities will tank.

MGM looks like it wants to see below 10 first. I might load up if it does that.

Sold ERX 38.40, small profit.
Waiting for re-entry.

Update: 3:08am
Uncle Ben has spoken.. going long again.

Update: 3:52am
Hoo Hoo.. selling into close..
Waiting for a bigger dip.

Closing Update: 5:25am

Dow 10390.11 +1.21 +0.01%
Nasdaq 2189.61 -4.74 -0.22%
S&P 500 1103.25 -2.73 -0.25%

Oh... market doesn't seem to like Uncle Ben speech. We sold into the close.
My rebuy queue for ERX 37.50 didn't happen.

All cash for today.




This post has been edited by danmooncake: Dec 8 2009, 05:28 AM

Wow! ASIA is primed for shorting..

This post has been edited by danmooncake: Dec 8 2009, 09:22 AM

Whoa.. nice. Oil down, Copper down, Gold down.. Futures down. Dollar up!
S&P target 1080 today.

Wait.. the selling may accelerate in another 2 hours.
Just Q it.

15 cents is not tanking yet. It needs to be below $10.
I like to see -3% to -5% for it before consider a BUY.
Price target $9.50

I'm in ERX 36.10, TNA 36.60 for swing trading

Update: 2:08am
Scalped and sold TNA for 38.40 for quick profit

Update: 4:08am
Selling accelerated.. In another batch of TCK 32.40 for long.
Who cares commodities tanking but I'm long.
Dollar strength will be short lived. Buying opportunity here.

Closing update: 5:23am
Dow 10285.97 -104.14 -1.00%
Nasdaq 2172.99 -16.62 -0.76%
S&P 500 1091.93 -11.32 -1.03%



This post has been edited by danmooncake: Dec 9 2009, 05:25 AM

We may have another dip today... the majors are weak. Gold and Silver selloff continues, dollar strengthening another notch.
If you're long and up, sell this pop and buy at lower level.
If you're short, it may too late to try it at this level. Use caution.

Banks are in trouble again.. the Dubai issue seems to be trickling to Europe now.
US banks are hardening their credit again.

Set your eyes on S&P 1080.
Go long and buy some if we dip down to this level.

And... it touched 1086 and rebound..

Did you all get some? I did..

Bought another batch:

250 ERX 35.80
1000 TNA 36.50
500 TCK 32.85




Update: 11:58pm
Sold 1000 TNA 37.50

Quick $1K profit.

Looking for re-entry again if we sell later in afternoon.

This post has been edited by danmooncake: Dec 9 2009, 11:59 PM

Yes, those are two most predictable 3x ETF for now.

I'm holding some C too, but not too worry about it.
If it drops to 3.75-3.80, I'll buy another batch.

LVS almost drop to my BUY price again (below 15).

Update 12:46am:
Don't want to be greedy. Sold 1/2 position TCK@ 34.25 for small profit, still holding the other half.
Market losing strength, I may rebuy at lower price.

Update 4:00am
Bought
500 TCK @ 33.60
1000 TNA @ 36.60
250 ERX @ 35.05

Update: 4:48am
Sold
1000 TNA @ 37.70 (~ another 1K here)
250 ERX @ 36.07 (~ small profit.. 0.25K)

Still keeping TCK.. I love this roller coaster!

Update: 4:50am
Bought 500 C 3.80 It hits my price, therefore I'm nipping it here.

Closing Update: 5:20am
Dow 10337.05 +51.08 +0.50%
Nasdaq 2183.73 +10.74 +0.49%
S&P 500 1095.89 +3.95 +0.36%

I'm not sure what causing the volatility today but we have crossed from green to red to green again..
Today, has been good day for me. I'm 2K+ richer. Thank you Mr. NYSE.

This post has been edited by danmooncake: Dec 10 2009, 07:23 AM

Guys, not so easy-lah..

I had to glue my butt to the seat and sit in front my 4 big screens monitors.
Hardly take a break.. didn't even had my midnight snack.

If you saw the chart for TNA, it oscillated from
top of the Bollinger Band to bottom almost 3 times today..

I was afraid to let go and if I did, I would have missed it.
Anyway, I guess I was lucky today. Phew!

Just took my last call and signing off work now.

Going for my afternoon nap and coming back again tonight after 9pm.

Been working night for years now. No issue. No choice since my customers are all US based.
Otherwise, my team and I would not have jobs. I'm lucky that my employer allows me
to process trouble tickets and day trade at the same time.

Anyway, C dropped to 3.79 the last 5 mins. I saw it dived, so I scooped some up @ 3.80 to average down.

For C, the swing trade has to play out longer.
Since BAC is getting back its feet, I'm sure C will be next. Gotta be patient there.

I'm getting tired now. ... Talk you guys tonight.

This post has been edited by danmooncake: Dec 10 2009, 10:25 AM

8:30am EST US Jobless Claims: 474K. That's UP from prior: 457K

but... the 4-weeks moving averages are lower: 473.75K (as opposed to 481.25K), therefore
market is interpreting this as good news.

Less employers fire people during holidays seasons.. infact more temp hiring, dollar slightly higher.
VIX low, Oil back above $71 and S&P above 1090. All is calm and buyers are returning.
Let's ride this up!









This post has been edited by danmooncake: Dec 10 2009, 09:58 PM

I'll be happy to sell to him at 10.86!

Anyway, for me 9.50, not a penny more. Mari mari, come to papa!