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Post by cosmic on Jul 21, 2010 15:18:56 GMT -5
It went down. I figured there would be some clawback today, and it was ALMOST all of yesterday's gain, but not quite.  At this point, stops are set, and there is no emotion. There is no hope we will go up, there is only expectation that we go down and the trade setup will fail. If the market went to therapy, it would be diagnosed with bipolar disorder and schizophrenia. It likes itself but it hates itself, and is obsessive-compulsive about it.  I removed half my QQQQ calls, and took a bath on the remainder, but it's a very small position so I'm not too worried.  Hope everyone made some money today (or, again, avoided major devastation), and will do so tomorrow. Members, please post your results along with your RDA of smileys!  |
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Post by tajmahal9898 on Jul 21, 2010 15:28:48 GMT -5
No trades during normal hours.. shorted 1K QCOM at 37.74
Dual I liked the active trader view.. only problem I had was the data was not auto scrolling.. It works fine when the movement in stock is small, otherwise, I had to manually scroll the view.. perhaps, there is an option for auto scroll and I am missing it.
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Post by Dualism on Jul 21, 2010 15:42:51 GMT -5
No trades during normal hours.. shorted 1K QCOM at 37.74 Dual I liked the active trader view.. only problem I had was the data was not auto scrolling.. It works fine when the movement in stock is small, otherwise, I had to manually scroll the view.. perhaps, there is an option for auto scroll and I am missing it. I'm glad you are realizing its potential utility. It does have an 'auto-center active trader price ladder'. If you click on 'setup' and place a check mark in the white box for auto-center, you'd see that it keeps current price centered. Also note the + and - squares toward top right side of AT. Those are zooming out and in feature. In case your stock is moving many dollars in short time, like you would perhaps see with GOOG, that makes it very useful. |
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Post by tajmahal9898 on Jul 21, 2010 15:52:13 GMT -5
thanks dual.. will look into it...
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Post by torrentio1 on Jul 21, 2010 16:08:00 GMT -5
I and a majority of fellow investors did not watch the markets today -knowing that all was well with the economy, there is a booming rip roaring recovery in progress, and many jobs are being saved by big government spending -and that of course all stocks are the same -they all rise or fall in lock step. Instead, I and many sat transfixed in front of our mass media devices eagerly awaiting any economic news. At the exact moment Bernanke suggested things were not quite so good I and many others rushed to our brokerages and sold all our holdings THEN went back to our mass media devices... I now await the next 'signal'... Yeah -right...  It was the machines! Anyway, it looks like it was a market down portfolio down session. I have not looked in detail; however it looks coincidentally that many issues and indexes AGAIN test support levels EOD. I would assume we see short sellers and the machines once again in action -the machines happy with any direction now attempting to get the ball rolling down hoping for a snowball effect and the short sellers anticipating a free ticket to ride. Stopping at support suggests the market did not join the party e.g. I remain all in... Hope all did well!!!! ;D ;D ;D ;D |
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Post by torrentio1 on Jul 21, 2010 16:13:25 GMT -5
At this point, stops are set, and there is no emotion. There is no hope we will go up, there is only expectation that we go down and the trade setup will fail. If the market went to therapy, it would be diagnosed with bipolar disorder and schizophrenia. It likes itself but it hates itself, and is obsessive-compulsive about it. Unfortunately, maybe we see volatile sideways becoming the direction for now -e.g. a majority holding with a minority being traders buying bottoms and short selling tops and of course the machines driving and accelerating the rates of little moves... |
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Post by brosin on Jul 21, 2010 16:16:47 GMT -5
Got out of my shorts too early, bought some more VSTNQ. Ready for a big up day tomorrow!
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Post by cosmic on Jul 21, 2010 16:18:18 GMT -5
Don't disagree, Torr, just concerned that if the 'banks' (wait, shouldn't they be called Investment Houses? I thought banks protected people's money)... can't make enough money not lending and slurping up fees, that they just might decide to short the planet and pull the supports. Obviously there's no precedent for that...
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Post by torrentio1 on Jul 21, 2010 16:22:26 GMT -5
Don't disagree, Torr, just concerned that if the 'banks' (wait, shouldn't they be called Investment Houses? I thought banks protected people's money)... can't make enough money not lending and slurping up fees, that they just might decide to short the planet and pull the supports. Obviously there's no precedent for that... It is an interesting quagmire that develops -it seems the government in effect seeks to suck dry the hand that feeds it while at the same time increasing the hands it feeds -a breaking point will be reached... The road to serfdom... |
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Post by maxi on Jul 21, 2010 16:22:38 GMT -5
I and a majority of fellow investors did not watch the markets today -knowing that all was well with the economy, there is a booming rip roaring recovery in progress, and many jobs are being saved by big government spending -and that of course all stocks are the same -they all rise or fall in lock step. Instead, I and many sat transfixed in front of our mass media devices eagerly awaiting any economic news. At the exact moment Bernanke suggested things were not quite so good I and many others rushed to our brokerages and sold all our holdings THEN went back to our mass media devices... I now await the next 'signal'... Yeah -right... It was the machines! Anyway, it looks like it was a market down portfolio down session. I have not looked in detail; however it looks coincidentally that many issues and indexes AGAIN test support levels EOD. I would assume we see short sellers and the machines once again in action -the machines happy with any direction now attempting to get the ball rolling down hoping for a snowball effect and the short sellers anticipating a free ticket to ride. Stopping at support suggests the market did not join the party e.g. I remain all in... Hope all did well!!!! ;D ;D ;D ;D Torrie You are on a roll today! i can't stop laughing..... ;D |
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Post by bellevuetrader on Jul 21, 2010 16:41:57 GMT -5
Got a short FAS position towards end of close at $20.15 and covered at $19.6999....not bad for lunch money. It'll buy a nice steak at Cipriani's in New York along with a glass of red wine...
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Post by maxi on Jul 21, 2010 16:56:19 GMT -5
Got a short FAS position towards end of close at $20.15 and covered at $19.6999....not bad for lunch money. It'll buy a nice steak at Cipriani's in New York along with a glass of red wine... You shorted 2 shares? What Brosin start a new fad or something??? ;D |
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Post by ask2lern on Jul 21, 2010 17:06:09 GMT -5
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Post by jack on Jul 21, 2010 17:10:18 GMT -5
I and a majority of fellow investors did not watch the markets today -knowing that all was well with the economy, there is a booming rip roaring recovery in progress, and many jobs are being saved by big government spending -and that of course all stocks are the same -they all rise or fall in lock step. Instead, I and many sat transfixed in front of our mass media devices eagerly awaiting any economic news. At the exact moment Bernanke suggested things were not quite so good I and many others rushed to our brokerages and sold all our holdings THEN went back to our mass media devices... I now await the next 'signal'... Yeah -right... It was the machines! Anyway, it looks like it was a market down portfolio down session. I have not looked in detail; however it looks coincidentally that many issues and indexes AGAIN test support levels EOD. I would assume we see short sellers and the machines once again in action -the machines happy with any direction now attempting to get the ball rolling down hoping for a snowball effect and the short sellers anticipating a free ticket to ride. Stopping at support suggests the market did not join the party e.g. I remain all in... Hope all did well!!!! ;D ;D ;D ;D Torrie You are on a roll today! i can't stop laughing..... ;D Torries ALWAYS "on a roll!" "...serfdom..." lol lmao rotffl!!! (Where can I get one of those green skinhead type of hats?) |
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Post by demanuel2001 on Jul 21, 2010 17:15:10 GMT -5
Gave back half of my gains of yesterday. Somehow I thought AAPL earnings and the BP asset sale would overcome the fact that Banker Ben was talking again - fat chance! Ben tanked the market again. And he gets to do it again tomorrow - you might think tomorrow he would have no impact but I'm beginning to think that it's just the way he talks - he gives the impression of having studied problems for a long time but never actually figured out how to solve one.
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Post by jack on Jul 21, 2010 17:18:06 GMT -5
Gave back half of my gains of yesterday. Somehow I thought AAPL earnings and the BP asset sale would overcome the fact that Banker Ben was talking again - fat chance! Ben tanked the market again. And he gets to do it again tomorrow - you might think tomorrow he would have no impact but I'm beginning to think that it's just the way he talks - he gives the impression of having studied problems for a long time but never actually figured out how to solve one. Agree...and what's worse he exudes absolutely NO CONFIDENCE whatsoever. |
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Post by torrentio1 on Jul 21, 2010 17:28:05 GMT -5
Torries ALWAYS "on a roll!" "...serfdom..." lol lmao rotffl!!! (Where can I get one of those green skinhead type of hats?) My serfdom reference was inspired by a book published quite awhile ago by a Nobel prize winning author that in my opinion pretty accurately describes what we see going on the last several years with regard to big government: The Road To Serfdomby F.A. Hayek For any interested, here is a link from the The Institute of Economic Affairs to download a free copy of the Readers' Digest Condensed Version of the Road to Serfdom (in PDF format) - Readers' Digest published in April 1945. |
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Post by trading4dough on Jul 21, 2010 17:47:44 GMT -5
Trades today:
faz +2.3%
fas -1.1%
faz +3.2%
drv +1.7%
tza +2.4%
Somx now full position @ 3.60
closed out my short position as well +2.8% net
just holding my handfull of longs other then that cash
capital preservation my friends
this is a real angry market ................... trade accordingly
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Post by timber on Jul 21, 2010 18:03:34 GMT -5
i highly recommend shorting tsla on a pop if you can....i covered today but will short it with the spike tomorrow again
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Post by brosin on Jul 21, 2010 18:07:16 GMT -5
I'm beginning to think that it's just the way he talks - he gives the impression of having studied problems for a long time but never actually figured out how to solve one.  ,meet  |
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Post by exabi on Jul 21, 2010 18:23:30 GMT -5
I'm beginning to think that it's just the way he talks - he gives the impression of having studied problems for a long time but never actually figured out how to solve one. That would make him a consultant, but wait, that's pretty much what he is. |
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Post by PoorHomey on Jul 21, 2010 18:26:43 GMT -5
I'm beginning to think that it's just the way he talks - he gives the impression of having studied problems for a long time but never actually figured out how to solve one. That would make him a consultant, but wait, that's pretty much what he is. Wait... Is this the same guy that worked on Cosmic's payroll software??   |
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Post by exabi on Jul 21, 2010 18:38:00 GMT -5
Nah.........not enough zeroes involved. He has to have at least 10-12 of them before he is comfortable. That way if you're off a couple or a hundred $B, just rounding error.
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It was the machines!
.....and get this I bought SPY 107 calls and flipped them for a nice little gain too 
...............also took a nibble at AIB(even though they never did fill my stink bid)..........other then the AIB all cash in the trading account..............none of my stops got hit in the LT accounts either 
