To whoever it is: This is really amateur hour. No skilled professional would announce a size position. Smart money will be scaling in (and out) during the morning, during lunch and in the afternoon. They will be looking to accumulate positions a bit at a time so that they don't have to pay up (as you will have to when you put on size all at once). They will be showing just enough size to buy down supply, and then selling the market down on news if it happens, only to buy back more at a better price latter in the day. You on the other hand will have turned all your cards over and will be sitting there butt naked. Hey, thats all right, don't change a thing rookie. Good luck. Steve46 P.S. How about telling us when exactly you will be placing your order, so we can step in front of it?
You have to look back years to have had 7+ weeks of lower or equal closings on a weekly chart. Not a single closing higher than the previous week eight weeks in a row now (1/2001 was the last time I believe.) That would not sway me, but some people trade that way. The thing I like least about the trade is that it is options expiration week, and with the current plumetting of the spoos, gamma is gong thru the roof (momentum wise.) That means that there is likely to be a negative feedback loop here where the spoos are sold off, then stocks have to follow suit the next day, fueling more spoos selling, and the cycle may end not earlier than this Thursday where options strikes and open interest on them begin to hold the selling pressure. Also, he may be scalping gamma against the position constantly, or may have a protective put somewhere beneath (synthetic call.) We don't know... But to hold 100K Qubes 'till then? Naah, my guess is the guy is going to be up all night if he holds the position overnight tomorrow, and if things are looking bad, he will be selling 125 NQ on the way down of the overnight session to be delta neutral on the open :eek: I am looking at the DOM on the NQ right now, and he can sweep the book only two handles down at any time to hedge. It is actually not that crazy, but there is no profit target or if he will hold the position overnight or not. If he is willing to hold overnight if the P/T is not hit during RTH, he probably doesn't want to miss the meat of an up move overnight if his profit target is not hit during RTH, and figures he can control his risk on the way down and decide the next day to peel off the NQ shorts and leave the QQQs long if the market looks like it might turn during RTH. nitro
WHAT.....is this like the scene in RUN LOLA RUNk, where she runs into the casino and slams X amout of deutch marks on the roulette wheel(not sure if i spelled it wrong) and then YELLS AT THE TOP OF HER LUNGS as the ball drops into the center of the wheel........ LMFAO.......dude, i know some guys up near 125st in Harlem that would love to play dice with you.. LOL
I know, but it now appears based upon his earlier thread, its $100k not 100K QQQs http://www.elitetrader.com/vb/showthread.php?s=&threadid=26816
Ha! Geez, I'm a small-time trader folks...to all you front-runners: sorry to get your hopes up as far as the 100,000 QQQs goes I've ghettoed together a system that works for me, taking pieces from here and there over the past 6 years....once in a while I make a big bet and I post it...I think more people should post their trades here so we can see who makes money and who doesn't (a lot of the posters here have a lot to say but never post their performance).... Good luck all....
Mostly because they are meaningless, and in fact, allow too much and you tread quite closely to pumping a position and turning this site into yahoo finance boards. nitro
Oh, LOL. That is not size. Unmargined, that is about 3000 Qs. I put that position on twenty times a day. nitro
I'm small-fry...for me this is a big bet, and I feel like it's important to post what I'm doing once in while to give everyone a feel for what I do........