Got out during surge after 30m a little less than expected but better than nothing here.
Calls up at 5.5%.

Let see if it can re-test 320-322 area for another reload.

Closing
Dow 12109.01 -80.34 -0.66%
Nasdaq 2669.19 -18.07 -0.67%
S&P500 1287.14 -8.38 -0.65%

Don't you guys love this roller coaster ride? Pretty predictable isn't it? Another sell near closing.


This post has been edited by danmooncake: Jun 23 2011, 10:08 AM

G' evening guys,

The volatility is pretty decent. Just continue to ride this wave.
The sideway trading is actually also good for making money.
Sell into the rally but buy that dips to make money.
Get long and short at the same time.


Oil prices have fallen, this is actually good for equities. We got stronger dollar because of Greece but it is all noise now.

We still have about 2-3 weeks before Q3 earnings before those in control of the machines will try
to ramp up prices again.

I'm looking to buy that dips if market pulls back today.

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Added on June 23, 2011, 9:08 pmUpdate 9pm: The initial claims came in slightly much higher than expected.
Up 9k to 429k. The futures really tank big on this.

Also, crude Oil suddenly lost over $3 because of sudden IEA emergency meeting, close to $91.
There is going to be flush down at the open.

Need to be careful here catching the falling knives.

Watch that SP500 1258, if breaks.. go SHORT big time! We'll see 1220s next target.



This post has been edited by danmooncake: Jun 23 2011, 09:10 PM

Closing for US market June 23
Dow 12050 -59.67 -0.49%
Nasdaq 2686.75 +17.65 +0.66%
S&P500 1283.50 -3.64 -0.28%

Don't panic..

We're in good trading range at the lows here. The bears are in control but the bulls aren't giving up the fight there at the SP 1265-1270 level. It managed to push the bears back above the danger zone.

Today wasn't that bad.. market dips at open with a big gap down, then closer to 2 hours before close,
the market made an impressive come back and reclaimed about 3/4 of what's lost but still in red.

Nasdaq managed to score green big, partly helped by AAPL!

Bought some calls when AAPL was in 320.. and sold into close around 330. It was still gaining after hours, partly because on the technical bounce on oversold and managed to reclaimed the 200MA. Made another 120% on weekly calls spread.
Awesome momentum for AAPL.

Psst.. take a look at C and AXP. If you like financials, I think something is cooking these both.

C - about to make a run above 40
AXP - nice dip.. buying opportunity here.

Good luck to all.

This post has been edited by danmooncake: Jun 24 2011, 11:00 AM

Ok guys, its' the weekend. So, I'm going to sell at open to take money off the weekend.

Oil going down below 90 because of IEA action and coordinated effort to kill speculators.
Short term, Oil is bearish.

But, as price of Oil going south, we could see the airlines, retailers, transportation, financials and other non-commodities based stock going up. Also, that's maybe why we could be seeing Tech rallying again.

Dow/SPX may still stay in the range here.. before the earnings in 2nd week of July.
As long as we don't see a trap door open by earnings, I think market will start to rally by August.

Also, watch Greece carefully -> this could blow up by next week.

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Added on June 24, 2011, 9:52 pmOh.. anyone here trading MU? Severe beating on this chip stock.

This post has been edited by danmooncake: Jun 24 2011, 09:52 PM

Friday close
Dow 11934.58 -115.42 -0.96%
Nasdaq 2652.89 -33.86 -1.26%
S&P500 1268.45 -15.05 -1.17%

IMO, the bears need to take out SP500 1250 or Dow 11550 (March low) for a complete flush down.
Then, only this correction will be over, else it will linger here, we'll see dancing between bulls and bears,
going no where.

Need to see SP 1120 by mid-to-end of July.. and if that happens, I'm all in!

This post has been edited by danmooncake: Jun 25 2011, 12:48 PM

We don't know if it will happen or not. I hope it does because it will be very healthy for the market and profitable for us.
Just leave some dry powder in case it does. Good luck!

10,500? If it happens, it could be a very good opportunity later.
We need another -1500 away.

But, the bulls are resilient already around here (high 11k, low 12k).
I just need it to tank to 11500 for 2nd chance at March low for now.
It may happen as all the bad results from Japan tragedy, Greece fiasco, US employment all factoring
into next US 2nd Q GDP report. We'll could shave another 500pts off the Dow.

One thing to consider, if you're holding a trading acct using US SSN, you're subject to capital gains. But if you're using your Msian ID (as a foreigner), you've no capital gains except for dividends withhold. Switch to cheaper broker for cheaper commissions.

Btw, anyone watching C? Looks like it wants to break above 40s.

Closing update for June 28th market
Dow 12188.69 +145.13 +1.21%
Nasdaq 2729.31 +41.03 +1.53%
S&P500 1296.67 +16.57 +1.29%

Looks like the risk on trade is back. Nike led the big rally.
Oil moving up $2.30 ahead of Greece vote. Let see how it turns
out by tomorrow for this long weekend.

This post has been edited by danmooncake: Jun 29 2011, 08:03 AM

No, I don't think so. Nothing much has changed since last week except for Europe fear. The financial, tech and the metals commodities are moving ahead.. even Oil are bouncing off from the lows 90s.

Dow futures pointing north tonight pending austerity votes from Greece. They're expecting it to pass.
The market already moved ahead.

There are major streets protests going on in Greece - lots of rocks throwing and police spraying tear gas, etc.

You all know the drill here. So, I won't be surprise if the will be big sell off after the news if that happens.

If it happens, I think I'm safe since I am already bought in on Monday evening when Dow was below 12k, so, I'm got hundred plus points buffer zone from the sell down with stop loss in place. If market continues to rally up and break the resistance at Dow 12300 or SP 1320, I'll just let this ride up into earnings in July.

It's all part of the plan by hedge funds to lure reel the small fish back in before the slaughter.
Be nimble here if you wish to ride the wave and be ready to jump ship if there is first sign of fire.

Good luck!

Update: 9:15pm
Looks like Greece parliament just passed the austerity votes.. so Euro remains up.
But, longer term I think Greece won't make it. They need a 15% GDP growth year after year to make it.
No way these dudes can make it given their nature. They will default no matter what unless they get kicked out from the Euro zone and allow the ability to print money.



This post has been edited by danmooncake: Jun 29 2011, 09:15 PM

Yes, I think people will sell into the news. The Greece thing is nonsense.
They're one step closure into total collapse here. Nothing has basically change for their economy.

I'm holding with very tight stop here. If market drops at open, I'm out.
I'm almost up 10pts with AAPL.

Let see how it goes..

Dow 12261.42 +72.73 +0.60%
Nasdaq 2740.49 +11.18 +0.41%
S&P500 1307.41 +10.74 +0.83%

Yeee haa indeed. But, I'm using this opportunity to lock in my gains.
So, I'm out for now but I'll buy dips if it doesn't look like major pull back by Friday.

Same as those copper mining stocks that I've trading: TCK and FCX.

Up up up.. looks like they're expecting Greece issue to temporarily go away for now for the bulls to come out and play. Q2 ending, market wants to be positive for this quarter ending June 30. Could be another window dressing at play.

Going to meet up or test the resistance level (50MA) - SP500 1316-18 area soon.
Keeping those tight stops in place.

Btw, looks like the financials are coming back. Looking at C, BAC, JPM, etc.. Both V and MA skyrocket because of debit card fees fears are overblown. If financials truly coming, we could see a pretty good rally soon.

This post has been edited by danmooncake: Jun 30 2011, 08:34 PM

Tonight, watch FSLR too.. something cooking it.

Too funny.. thinking about sex and trading at the same time.

Dow 12414.34 +152.92 +1.25%
Nasdaq 2773.52 +33.03 +1.21%
S&P500 1320.64 +13.23 +1.01%

I'm out all cash.. sold my TCK and FCX. Just taking the advantage of this window dressing on June 30th.
Everything went up on low volume and major indices managed to closed above 50MA. I'm still not convince the bulls are back yet. Let see how this tonight will fare out for this long weekend.

New month, got to think new trading strategy.

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Added on July 2, 2011, 8:31 amClosing for July 1st.
Dow 12582.77 +168.43 +1.36%
Nasdaq 2816.03 +42.51 +1.53%
S&P500 1339.67 +19.03 +1.44%

The bulls went on stampede!
Took 1 week to take back what the bears had last 3 weeks.
We're back to same period end of May.



This post has been edited by danmooncake: Jul 2 2011, 08:31 AM

I've sold TCK and FCX into the weekend and holding some AAPL calls for now.
Now, that AAPL gone above that resistance, it will probably see $350 soon which I will sell into later.

The market will pullback a little but looks like a buy from here.

Not too late.. as long as the market moves, you can play it.

AAPL 352-355 (heavy resistance area).. if failed it will go back down to 330.

So, just buy the calls spread (or puts spread to hedge it down).

Remember to nimble it in small batches, buying options can be wealth killer too.

This post has been edited by danmooncake: Jul 6 2011, 08:58 AM

Market pulling back some today..

Time to buy before earnings next week.

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Added on July 7, 2011, 8:48 amClosing for July 6th
Dow 12626.02 +56.15 +0.45%
Nasdaq 2834.02 +8.25 +0.29%
S&P500 1339.22 +1.34 +0.10%

Couple of bad macro data but market keeps ignoring them because it on auto-pilot buying mode now.

a) Worse than expected ISM service data for June - confirmed US consumer slow down.
b) Protugal reduced to "junk" credit status.
c) China raised rates for 3rd time to curb inflation.

Keep buying dips till Friday jobs report.

This post has been edited by danmooncake: Jul 7 2011, 08:48 AM

I sold into rally Thursday evening closing. Taking advantage of the pop.
Job report Friday night for June is going to be disappointing.

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Added on July 8, 2011, 8:44 pmAAPL still in this trading range: low 315 to 350's.
So anything above that 350 or higher should be sold into unless it break out above that 365 level.

So how's S doing so far. Pretty nice tradable range?

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Added on July 8, 2011, 9:12 pmFutures really dying hard.. very disappointing US jobs report for month of June.

Non-farm payroll: up 18k (June) versus up 25k (May) - this is a declining number.
Total UE: 9.2% (June) versus 9.1% (May)

Everything in Europe also gone red.

This post has been edited by danmooncake: Jul 8 2011, 09:12 PM