Dow 10992.13 -303.68 -2.69%
Nasdaq 2467.99 -61.15 -2.42%
S&P500 1154.23 -31.67 -2.67%

The bears win this week!

Got to be real cautious next week.. the band is getting tight here and swing trade needs to be fast
to take profit before it makes its move. After closing out some of my short positions, I'm 2/3 long, 1/3 short now.

This post has been edited by danmooncake: Sep 10 2011, 09:25 AM

In my trading portfolio, I have approx 65% in long positions, approx. 35% in short positions.

This post has been edited by danmooncake: Sep 10 2011, 09:44 AM

That plan is more or less the same thing like the 1st stimulus (800bln) that was poured into the economy. More than half of them are entitlements programs which didn't go anywhere. So, this is half of the 1st.. IMO, and yet, didn't really address specific how it will help spur job growth because there's that entitlement for unemployment benefits again.

This is going to be tough sell for the Republican house unless he can show he can do it without increasing the deficit.

I like see it dives a little lower before I go 100% long.. that's why I'm hedging with some shorts now.

Don't worry, it will go back up.. just be patience.
We're still in trading range: 1100 to 1250

Hopefully, you're long BELOW 1250. Otherwise it's going take some time.

Actually, it is much easier for foreign companies to invest in US than for US companies to invest in China.

In China (just like Malaysia), if you're multinational, you're forced to partner with the local company and
you need to share your technology. The Chinese govt is very discriminatory in offering contracts to companies and most of the time favor domestic companies. But, they do make it easier for companies to setup factories for manufacturing goods that are to be exported but make it difficult to sell to the Chinese consumers.

In US, you don't have to do that. Chinese companies can start and grab market share if they're capable because they have to same level of playing field. Maybe the exclusion portion that US govt contracts are related to military supplier - those must be US based companies.

For foreign companies, the only hurdles are the costs are high because labour, health care and taxes. The taxes actually varies because different states (there 50 states) offer different incentives for foreign companies. Some states now offer up to 2 years of tax free status. Again, it isn't so much of the Fed govt offering FDI incentives. Each states are independently competing for FDI and they have their own.

---

Added on September 11, 2011, 1:05 amDefinitely.. that's why got to watch that level. If it breaks.. just close eye and short till the next support level.
IMO, Europe is going to that troublemaker who will cause the major bulls mass suicide over the cliff.

This post has been edited by danmooncake: Sep 11 2011, 01:06 AM

Closing for Monday Sept 12
Dow 11061.12 +68.99 +0.63%
Nasdaq 2495.09 +27.10 +1.10
S&P500 1162.27 +8.04 +0.70%

Got a bit of a positive divergence here on the oversold condition. So, we got a oversold rally into close.

Need to see more confirmation before we can say we got triple bottom in the last 2 weeks of trading.

Personally, I like to see a little more push down.. perhaps down to SP 1120 level before
I would like to cover the rest of my shorts. Hopefully mr market will make it happen...

Not yet... bears need to see the bottom before they can go away.

Bias still downside but I'm temporarily long for now perhaps till tomorrow.

We haven't officially drop to bear market yet.. so it is still at the border line.
But, we're in good trading range here.

Tonight, I'm doing a bit of trading with covered calls and calls spread selling to get some points with weaken LVS here at the resistance level. Hoping this price will remain below $49 by Friday.

---

Added on September 15, 2011, 2:19 amOpps.. short term reversal in play. Buy signal kicked instead.

---

Added on September 15, 2011, 6:10 amClosing for Sept 14th
Dow 11246.73 +140.88 +1.27%
Nasdaq 2572.55 +40.40 +1.60%
S&P500 1188.68 +15.81 +1.35%

So far my trade for LVS going well. It is hitting that resistance wall here.
Pocketed another 20% from selling out of money calls for short term trading.

That SP500 1200 area is the key area to play here.










This post has been edited by danmooncake: Sep 15 2011, 06:10 AM

Yes, that's the key.. did you notice how fast that dive from 1200 till closing?
Just 30mins to lose over 12pts on S&P 500. All done by computer algos. They see that pattern.
Lure them in.. peak at top, then DUMP!

I think it may still try to get over it and make another attempt to get to 1220-1230 area by tomorrow or perhaps Friday. This is still a very strong resistance area. Good place to put shorts here if we get there.

If you're long, keep your stops tight here..

---

Added on September 15, 2011, 9:35 pmAnother attempt at 1200 tonight..

This post has been edited by danmooncake: Sep 15 2011, 09:35 PM

I think I'm going to buy some GLDs... nice pull back.

Midday
Dow 11401
SP500 1204

Time for me to lighten up here.

---

Added on September 16, 2011, 7:53 amClosing for Sept 15th
Dow 11433.18 +186.45 +1.66%
Nasdaq 2607.07 +34.52 +1.34%
S&P500 1209.11 +20.43 +1.72%

Market edged up almost two percentage points.. Hurrah for the bulls.. I guess.
Got to watch this level now. We were here last week and got
smashed up right around the 1220-1230 area. May happen again..

After hours, RIMM reported really bad earnings.

I think this company's products are going by the way of HPQ. Another fire sale likely to happen for their Playbook tablet.

This post has been edited by danmooncake: Sep 16 2011, 09:48 AM

Wow.. are you still trading this?
Smoke not all clear yet.. man. Still haven't recover to previous price before the big dump yet.

Good luck with it.

Closing for this week
Dow 11509.09 +75.91 +0.66%
Nasdaq 2622.31 +15.24 +0.58%
S&P500 1216.01 +6.90 +0.57%

Bulls won this week... now, let's turn to the bears for next week.

I've managed to scalp 99% off for my LVS 49 cover calls since it expired below that price for Sept.
Now my LVS common stock averaging around 35. I'm going to continue to hold this as my commons as long as lows
at $35 can hold. I will continue to sell cover calls and buy puts for the volatility play.

Awesome man!! Nothing wrong with taking profits.


Now, I expect this week to be bear week again. We've reached 1220 and pivot during mid day trading.

Dow 11408.66 +7.65 +0.07%
Nasdaq 2590.24 -22.59 -0.86%
S&P500 1202.09 -2.00 -0.17%

Need confirmation with a close below 1200 in the next session.

This post has been edited by danmooncake: Sep 21 2011, 10:25 AM

Yeahh.. that's scary. Personally, I don't want AAPL to be included into Dow 30.
For some unknown reason, when a high growth tech company goes into Dow, it goes down and then flatline after a while.

Same thing happens to Cisco, Microsoft, IBM, etc.

I'm fine with AAPL holding up Nasdaq for now..

AAPL next year target $500. Will probably have $125 bln in cash by FY2013

How do you want your steak?

a) Well done
b) Medium Rare
c) Rare
d) Raw

I choose (d).

It actually started yesterday night after Fed meeting. This morning, we got worst than expected PMI data from China, that scare a lot bulls and Euro immediate tanks. When US sees Euro tanks, it follows now.

$VIX spiked above 40.. the sell algo blasts off.

This post has been edited by danmooncake: Sep 23 2011, 01:25 AM

If there is one.. just sell into the rally at the 20MA.

Gold being liquidated because of recession fear. Cash is King. USD and YEN rule.

Look at the yield curve. US Fed now punishing the banks. Sell all banks.. and stay away until smoke is clear.