what? a green closing........... yeeeehaa

Sold AAPL calls.. 20% profit.

Wow! Commodities are on fire today - Crude, Steel, Cooper., etc..
C moves back above $4.

Close out from BP shorts.. 8% profit.

I think the bulls are building base here to try another assault on the 50 MA and 200 MA later.

This post has been edited by danmooncake: Jul 21 2010, 10:24 PM

Wow!
Time to give up on the wage-slave call centre and become a full-time day trader!!

No way.. the wage-slave call centre is the only place that give me free high speed access to the Internet (much better than crappy TM net), graveyard work hours but got flexibility to trade. Nothing beats this for now.

Good for you mate!!

Closing update

Dow 10120.53 -109.43 -1.07%
Nasdaq 2187.33 -35.16 -1.58%
S&P500 1069.59 -13.89 -1.28%

After Bernanke said the US economy is "unusually uncertain", the market tanks!
The bears are ecstatic now!

And the Europe bank stress test coming. It's coming...

If a lot of banks fail the test tomorrow...

Hopefully the bears are not slaughtered tonight in masses.

Wow! The data from Europe and Dow earnings from CAT, MMM and UPS look very good!

This time, it's the bears who will be punished.
All bears hope not last yet - Initial claims aren't good last week (464k v.427k), and we have yet to get housing data.
We'll get another chance to watch the battle at SPX 1088 again.
I've shorted some at SPX 1095 but I'm ready to cover my shorts if this fails.

Update: 10pm
Hot dang...even with bad housing numbers, the bulls are pumping this above SPX 1090. I got my trailing stop out here. Small profit only.
Bernanke is about to testify. Let see if he brings out any negative words that may scare the market this time.

This post has been edited by danmooncake: Jul 22 2010, 10:13 PM

what does it mean when all bad news but rally continues?

what a supa mini bullSheat.

+220 points. but C moving an inch only.

epal - means MM is pushing for another leg up before tank in few days time.

technically it is a cup.. so according to technical analysis..

but no one knows.. up to you to see..

If 1095 and 1100 gets taken out the next few days, the next gap up will be 1130.
At a higher level, that's a much better short.

C is sitting nicely at the top of the BB band, it needs to hover around here a bit more before the next move up.
But, 3.95 acts as nice support here.

Psst. STEC looks like it is about to trade at a new price channel.

May I ask a noobie question?
Do you ever read back your previous posts and compare the content...?

Huh? Sorry, are you referring to the part 'I've shorted some at SPX 1095' or the part about 'STEC about to trade at new price channel' or the part about 'At a higher level, that's a much better short.' ?

If it is latter, definitely much better at higher level but this crazy market may not allow it. It may sound contradictory, but I will take my chance at it whenever reasonable - got to make my move if opportunity exist.

Update: 1am
It looks like we're at this ceiling again 1095 ... I'm going try again with SPXU @ 32, with SL @ 31.50
Maybe it'll gets filled later and hopefully won't get taken out. These past few days, with the bear traps abound, it has been pretty nasty to go short.

Closing update
Dow 10322.30 +201.77 +1.99%
Nasdaq 2245.89 +58.56 +2.68%
S&P500 1093.67 +24.08 +2.25%

My SPXU order got filled @ 32 but really troublesome here for bears. I was expecting a lower close for SPX but at 1093, it is a delicate here. Hopefully, it won't gap up if more good earnings are going to be announced during premarket tonight.

---

Added on July 23, 2010, 5:16 amBoth MSFT and AMZN reported earnings.

MSFT beats and AMZN misses. AMZN being raped, near 15% drop after hours.

This post has been edited by danmooncake: Jul 23 2010, 05:25 AM

Another leg up for Friday. But During mid day to close, expect to see profit taking in progress.

AMZN got beaten really bad after hours. MSFT isn't looking good either even with their great earnings.
But, these few days, the materials (X, TCK, FCX) and oil (UCO) have been moving up including China/HK FTSE stocks (FXI, XPP).
I'm hoping for a weekend sell off here for profit taking, so that I can exit and get some profits for my shorts.



This post has been edited by danmooncake: Jul 23 2010, 10:45 AM

my LVS & MGM still see-sawing. Up 1 day and down another day. So bored.

Both your LVS and MGM have a nice pop (3% and 4.75% respectively).

LVS announced that they will report next Wednesday, before market opens. This one is to watch. I bet LVS will
continue to run up till earnings and short will take 'em down after that.
http://finance.yahoo.com/news/Las-Vegas-Sa...8.html?x=0&.v=1

This post has been edited by danmooncake: Jul 23 2010, 10:48 AM