nikoschopen
2,824 posts
msg #60309
- Ignore nikoschopen |
3/7/2008 7:48:06 PM
Relax Johnnie boy. I traded RIG this week, which makes me a proud sissy too!
My comment was more in the context of Zub's run-ins with the PDT crap that made me wonder whether he wouldn't be better off trading S&P futures that offers more bang for the buck than ure typical stock. With tight spread and fairly large moves, I believe the risk involved in trading futures is likely be less than trading a volatile stock.
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EWZuber
1,373 posts
msg #60338
- Ignore EWZuber |
3/10/2008 12:06:49 PM
CFC & FNM getting hammered. Heard that CFC is being investigated for fraud. Bad news on top of bad news.
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EWZuber
1,373 posts
msg #60340
- Ignore EWZuber |
3/10/2008 12:10:07 PM
nikoschopen, futures are definately worth looking into. Don't know much at all about them right now so there would be a significant learning curve.
Also I suspect my account would have to be approved to trade futures.
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nikoschopen
2,824 posts
msg #60343
- Ignore nikoschopen |
3/10/2008 12:59:41 PM
Zub, you'll need to upgrade the trading permission within the account management. As far as the learning curve is concerned, the same principle of "buy low sell high" or "short high and cover low" applies here as in the stockland.
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EWZuber
1,373 posts
msg #60346
- Ignore EWZuber |
3/10/2008 2:07:14 PM
COMP getting extremely oversold on Hourly Chart. Should bounce very soon.
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EWZuber
1,373 posts
msg #60347
- Ignore EWZuber |
3/10/2008 2:51:34 PM
Weekly and Monthly Charts are still firmly in distribution phases so any bounce on the Daily or Hourly Chart will likely be another shorting opportunity,IMO.
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EWZuber
1,373 posts
msg #60356
- Ignore EWZuber
modified |
3/11/2008 9:17:01 AM
Market is opening up with that oversold bounce in the form of a gap. This is why I will not hold a position overhight in these market conditions. It is a daytraders market, IMO.
QQQQ is trading in prehours at 41.95 which is just below the 25 HR.MA. at ~42.25.
Typically I would expect a suckers rally here with the 25 HR.MA confirmed as resistance but looking at the charts after yesterdays close, the Weekly Chart has also become very oversold so we could see a heated short covering rally here.
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maxreturn
745 posts
msg #60357
- Ignore maxreturn
modified |
3/11/2008 9:23:48 AM
Zuber, you're absolutely right about this being a daytrader's market. The plunge protection team aka "the fed" are at it again. Wonder why the huge spike in the foreign markets and the huge gap open?
"WASHINGTON (AP) -- The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief in the spreading credit crisis, saying it will make up to $200 billion in cash available to cash-strapped financial institutions."
It will be REAL interesting to see how the market finishes today!
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EWZuber
1,373 posts
msg #60358
- Ignore EWZuber
modified |
3/11/2008 9:26:33 AM
max, it is interesting how these announcements are so timely and aligned so perfectly with technical indicators. It's no accident, IMO.
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EWZuber
1,373 posts
msg #60359
- Ignore EWZuber |
3/11/2008 9:35:26 AM
The QQQQ 25 HR.MA has been hit and the Q's bounced down, confirming it as resistance for now..
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