Dang I got excited too quick

Discussion in 'Trading' started by Mecro, Mar 9, 2004.

  1. cuz

    cuz

    Waggie................I love your choice of stocks..........sounds like we trade the same things and maybe have been on the other side of each other.............LOL

    Although I prefer the Naz
     
    #31     Mar 9, 2004
  2. bandit

    bandit

    Don't mean to be the fly in the ointment, but it has actually been ok lately. I ain't setting the house on fire, but made over 3K today trading only NY.

    Have conversions on ADI, NEM, FDX, PD, FNM, and GS. Just trading 5 to 10 min scalps. Did 150K shares all scalps. Also trading stocks of the day, shorted FDS at 39.61 1200 shares all I could get, cover at 39.25, a 20 min trade.

    Like I said, not setting the world on fire, but it's a living.

    What I found about trading the mini's was that I kept averaging. Thought I was right, thought I was right, sorry I'm wrong, and by that time I was in 50 contracts, and getting killed. Then I tried to make it up in one trade (stupid when you are down).

    When you start trading something that works, keep doing it. Different people are suited for different styles and markets.

    Bandit
     
    #32     Mar 9, 2004
  3. Last few days have been GREAT in spoos (ES). There is no slippage BTW.

    Jay
     
    #33     Mar 9, 2004
  4. cuz

    cuz

    So did DISH, FDRY, ESMC,PARL,CAMP

    BTW...........anyone trade DISH TODAY??
     
    #34     Mar 9, 2004
  5. Hey, thanks for the props on my stock groups!

    Look for LLL ( electronics defense ) to make a move to the upside tomorrow right off the opening since the CEO is presenting at a Smith Barney/Citicorp Conference at 8AM EST. The stock traded decently today, and came back nicely even though the specialist was sitting on it for a very long time, until he had to get out of the way when he saw the program buying come in in the last 20 minutes.

    I also trade in and out of a healthcare name called: CYTC
    They are also presenting at a SG Cowen Healthcare Conference tomorrow, at 8AM. The stock spiked up to $22.50 on Monday's opening after the 3rd upgrade in a week. Could very well pop once again due to the conference.
     
    #35     Mar 9, 2004
  6. The ES are the E-Mini Futures contract for the S&P 500.
    They trade electronically and are 1/5th the value of the full S&P futures contract that trades in the pit. Thus, while one point in the pit-traded contract is worth $250, in the E-Mini it is 1/5th that, or $50.00

    The ZB is the electronically traded Bond Futures contract.
    These puppies trend the best and are extremely liquid.
    No slippage at all and can be scalped to your hearts content.
    Each tick is $31.25 per contract and the daily range is about one full point ( $1,000 ) or 32/32n'ds. You can learn more about them at www.cbot.com

    You also asked me about ETF's.
    This is short for Exchange Traded Funds.
    Attached you will find a weblink to the Amex where most of the ETF's are traded. On the right hand side of the webpage you will see a list of the most active ETF's. As you can see, the QQQ's and the SPY's are usually most active. Click on the button that says MORE and you will be directed to a mind-boggling list of all ETF's, their symbols, their volume, range, components, etc

    www.amex.com

    There are also some very similar products to ETF's called Holders which stand for Holding Company Depositary Receipts. A list of these can also be found on the Amex website. Just look for Holders over on the left hand margin. By far and away the most popular Holder is the SMH which is a basket of semi-conductor manufacturers . . . It traded 26 million shares today, with INTC, AMAT, and TXN making up 78% of the index's weighting. This index is one of my favorites because it not only moves, but is very liquid as well.

    Hope this helps.

    :)
     
    #36     Mar 9, 2004
  7. cuz

    cuz

    Thanks for the tips..............I like the chart on LLL........leaning on it's 50 day

    CYTC scares me................like maybe wants to fill the gap.

    Anyway I'll check them out in the morning.

    Check out the charts on RCKY and DIGL........especially the volume on digl
     
    #37     Mar 9, 2004
  8. Mecro

    Mecro

    I've been doing that, I'm not even doing too much size anymore since this market cant handle it. I may have jumped in with too much size on Tues.

    But it was slippage that killed me. I have a few stocks I know very well and I know when something is wrong. Orders were being held for way too long and the fills were bad. Strange actions. Very illiquid. This has been going on for weeks already and getting worse.

    Waggie, thanks a ton for your advice and info. You're invaluable to ET.
     
    #38     Mar 10, 2004
  9. Mecro

    Mecro

    Well Im sure conversions still work. But I do not have half a million to put down for margin. This new bullet product supposedely coming soon.

    But regardless, I do not want to rely on a loophole to make money. It would certainly help right now however, but I made my best money without bulllets.
     
    #39     Mar 10, 2004