The start of a small pull back tonight.

Let see if it can pulls to 1180 area for dip buying by tomorrow.

Guess the BARES are in full control ere..........

Could be.. I think it is trying to but not yet.

For the past 8 trading days.. (almost two weeks), the SP500 is hovering between 1200-1230 area, Dow 11200-11600.
The bulls aren't giving up yet after the big rally from the lows.

It looks as if today the day for it (because the mighty like AAPL, IBM, WYNN, etc all fallen a few days ago)
but the less bad economic data has energized the bulls to wake up again.

Let see what's tonight will bring... Oct expiration day.

My $46 LVS puts are working nicely today because of WYNN missed yesterday
LVS still working out in this trading range: $36~$50.

Finally s&p 1233 gives way

You want to short the market again

U will get murdered if u short now

Bulls very powderful

I just shorted.. bought some puts when SPX touched 1338 area.

The short term bull traders will want take some money out for the weekend..
so trading this zig zag pattern for now.

No new money really coming into the market. Funds aren't really buying yet.
Just that money being rotated from one sector into another.



This post has been edited by danmooncake: Oct 22 2011, 01:45 AM

noted.

Brother, you are our hero

LOL

U bought an option 100 points away?

This post has been edited by Myoswee: Oct 22 2011, 08:31 AM

normally what platform to use when trading US market? I try not to go through the local bank due to their high commission charges. How abt go straight to their market...currently using CIMB with 0.4% brokerage.

Any ideas all sifu out there?

you mean cimb's itrade can trade US market with only 0.4% brokerage fees? that's quite cheap is it?

Assuming sell price is not much differ from purchase price, thus the in and out will cost around 0.4% x 2 = 0.8% or minimum $25 bucks, another 0.3% will be clearance charges. I'll hv to wait till the share rose minimum 2.1% to have a safe flipping with 1% gain.

Read a few forumers' post, they are shorting the shares, local bank giving US market trading services allow shorting? how?

I found certain online portal which charges low brokerage fees, lower than that of CIMB $25 and is per contract rather than percentage of value traded. Easy for me to flip if flat rate is applied.

This post has been edited by countdown: Oct 22 2011, 09:41 PM

I think you TT the $$$ to US brokers and trade is better than letting CIMB earn your "currency conversion" at a premium

DMC (danmooncake) mentions before he uses TD Ameritrade, OptionExpress, ScottTradeOption First and MBTrading.
Best you ask the man himself.

Ya, I would like to know too. Been reading & searching this forum but not getting the answer.

I use US brokers directly (ScottTradeOptionFirst, OptionExpress, TD Ameritrade, and MBTrading). Many of them are online and you can apply directly and submit your documentation later by mail. I kept all my trading currency in USD, so no conversion needed and I don't plan to repatriate my money unless necessarily need them (like big purchase, future retirement, etc....).

I'm active trader and I can't depend on local banks/remisier to do the transaction for me. By the time you let them execute your
trade, the price action would already made its move. Split second decisions, no second guess. Besides my late evening work allows me the flexibility to trade with US timezone.

Thanks!

No wonder you are able to reply at this time. I'll check those brokers you mention.

tks for your reply....currently awaiting reply from TradeKing, OptionXpress of international trader participation. Not all accept foreigner traders. Optionshouse - the best not for foreigners .

Thus far only OptionXpress provides the best brokerage fees for foreigners:

http://www.brokerage-review.com/rankings/b...l-investor.aspx

Will send an inquiry to Ameritrade and MB Trading - tks for the leads.

---

Added on October 22, 2011, 11:23 pmtks for your reply, I'm curious ScottTrade has replied, they doesn't accept international investors..... How do you open with them? r u their PR or etc?

Normally local banks provide a multi-currency account for us to trade in the desired currency. No conversion loss, only from initial amount and only investors decide to convert back to RM to use, but still very irritating if there is a contra gain, they will force you to convert back to RM instead of US. Worst still, should there be any dividend declared, there will charge you RM50 for that and force you again to convert back to RM ....

so now, I'll hv to use direct broker to deal with it. Bye-bye CIMB.

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Added on October 22, 2011, 11:27 pmGood website for comparison!!
http://www.stockbrokers.com/compare/mbtrad...s-optionsxpress

Best for international investors i.e. like us to trade in US:
http://www.stockbrokers.com/reviews/internationaltrading

This post has been edited by countdown: Oct 22 2011, 11:30 PM

Is Ameritrade flat rate at USD9.99/stock regardless of how many shares and how many orders per day? Is it for foreigners?

TD Ameritrade brokerage fees explained:
http://www.tdameritrade.com/pricing.html

Go to this webpage to know better of the charges, following link is MB Trading:
http://stockbrokers.mbtrading.com/commissi...spx?page=Stocks

This is the best broker for International traders/investor/foreigners:
http://www.stockbrokers.com/reviews/internationaltrading

However, shouldn't compare directly bsc some other factors need to take into consideration. Thus far MB Trading is the best as in lowest brokerage fees for international traders but not "ease of use"

Use this to do the direct comparison, scroll till the lowest and u will know whether this broker provides services for international investors:
http://www.stockbrokers.com/compare/mbtrading-vs-questrade

This post has been edited by countdown: Oct 23 2011, 06:19 PM