AMZN over the weekend

AMZN popped up on the searches, and it looked just fine.

Trident numbers counted the big gap from the earning announcement. I think it will follow through, but not for very long.





shorts:
longs: AMZN

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Ok, I like to be on the edge

Made a mistake by moving up the stop of MOS, and stopped out pre-maturely.

So re-entered MOS (you can find the charts here ) and his cousin AGU.

Here is the chart and Trident levels for AGU


Trident Levels:


entered and profited from the short USD/JPY, still short GBP/JPY and long EUR/USD

Once again: Trade small

shorts:
longs:

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Dunkin!

Contrarian I am

Usually I post at the end of trading day, because I trade off of the daily charts, but at this point I am on the side line, except for the TBT long.

Myth: 11:30 am would make the low of the day should there be a bounce.

Seems like today is going to be a day to chew off our fingernails. Look for some opportunities when the capitulation is confirmed and ride it for the bounce. I would however be very cautious over the weekend.

As for Forex:
I am going to short some USD/JPY, GBP/JPY and long EUR/USD.


Trade Small!


shorts:
longs:

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watch out below

When Dow ends so close to low of Nov 2007, Aug 2002 and March 2003, don't be a hero.

let it rebound a bit before going bearish again.

I am out of all currency trades for a tidy profit, and still long QLD, MOS and open TBT today.

Let's see what happen next.

shorts:
longs: TBT

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November support tested for DIA only.

DIA tested Nov '08 support today, and still testing, but QQQQ is still on a uptrend, so I took half of a position size on the QLD and open a long call position on QQQQ:
QLD stop at 24.68, 2% below the fib 161% extension, target: 30
QQQQ calls stop when it is below 28.48, target when QQQQ is at 31.50, it it does not reach the target, I will sell a upside call for some + theta



Also took a position on MOS, full position size, stop at $38.68


Here is my Trident worksheet.


Alas FOREX, in anticipation of a dead cat bounce the dollar should move down, I when long EUR/USD, AUD/USD, still long on GBP/JPY


Trade safe

shorts:
longs: MOS, QLD

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SPY broke support of 80'ish on a gapped down

Today was not pretty, because I was pretty bullish leaving the market on Friday.

As a result, RIMM, AAPL, SSO, POT all stopped out.
But my hedge DXD worked out and I cashed out too, because the Dow Jones is only 100 points away from the low it made in Nov 2008.

I still own FCX, TBT, not stopped out yet, if tomorrow provide a bounce, I will exit them too.

I am going to start putting my forex trades, you can see the standing stop and limit orders.
I am long USD/CAD, GBP/JPY and short AUD/USD.


Trade safe.

shorts:
longs:

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Take and run?

Watching the price actions today as the broader market struggle, I am very tempted to take profits and close all of my open trades now, on top of that Monday is a trading holiday. So it is very tempting.

I am happy that this round is profitable.

Looking at the sector summary now:


I am in the right sectors but don't know for how long. To hedge, I am going to long some DXD and on the option side, I will put on a short DIA FEB 84/MAR 86 Diagonal for a debit of $0.55 if the market turns, I will close the short side.

Also got long on CLF.



shorts: DIA diagonal
longs: CLF

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A well behaved SPY

I was so happy that SPY still in the channel, as my order of SSO at $21.21 was filled, I was afraid that it will get stopped out today. Alas the late rally made it up.




A few entries today:
APPL, a pretty good looking bull flag, stop at 95.35


POT another good looking bull flag, stop at 80.82


FCX, chart drawings no change, stop at 26.85

TBT, wonderful channel, stop at 44.45


And RIMM, looking for a quick dead cat bounce.


Good luck!
shorts:
longs:SSO, RIMM, AAPL, POT, FCX, TBT

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tomorrow is a new day

today, SPY touches the fib extension.



Support is not to the penny, also if any more news break out that is unexpected to the big money, big money sells, so goes the market. Let's see.

I have my long limit order to buy SSO $21.21, and stop at 20.65

BTW, it took 2 trading days but the resistance held and SPY bounced down, SDS trade on Feb 7 was a profitable trade.

shorts:
longs: getting ready for SSO

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Looks for a pullback on SPY

The week finished as the support holds for SPY and bounced, as I posted Monday.

Most stocks move with the broader market, because the index are made up of them. If one get the index right....aka the posture right, it is very easy to trade.

30 minutes before close Friday, I close all of my Bullish longs: RIO, PBR, PCR, CLF, FCX, ABX, APPL and XCO. pretty nice profit on this round.

As I see SPY hitting the 50 MA and also in the area of last high at 86/87'ish, voices told me that the market may need a break.


So I got long on SDS with half of the position size, stop at $71.89, I think at least 33% of this week's move is to be retraced. I am watching SPY at $85, it will translate to $77 at SDS, that will be my first target.
On the other hand if the market keeps moving up, I will get stopped out at 1/2 of the position size, no harm done. Because market shifted focus to fertilizers and rail, so as I exited my energy stocks, I also watched for the entries on those sectors.

As a result I added POT, MON, MOS and the rails: UNP, BNI and CSX to my watchlist. Last round was Energy and Basic Materials (gold).


One interesting note: APPL, hitting $100 and backed down, this is a legit W-1 move so far, we will see. of course RIMM, keep watching, it is climbing up the ladder.


Trade Safe

shorts: SPY
longs: SDS (same as short SPY)

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Channeling SPY

Looks to me SPY is channeling, so today I closed my SDS, ultra short on SPY, that I open on Friday, and open a new position on SSO, ultra Long, thinking to ride on this trade for a few days.



Havn't found a leading sector except for Techs.

shorts:
longs: SSO

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