Taxing Day Stocks finished lower, despite flirting with positive territory at the open and again at mid-day, pressured by blue chips as Citigroup (C) missed earnings estimates and fellow Dow component General Electric (GE) continues to be plagued by profit jitters. The Dow Jones Industrial Average lost 97 points (1.0%) to 10,094, the S&P 500 index shed 8 points (0.8%) to 1103, and the Nasdaq Composite was down 2 points (0.1%) to 1754. Airline and retail stocks led the decliners, while energy-related shares followed the price of crude higher after Venezuela's president was reinstated following a failed military coup, dashing hopes for an end to Venezuela's oil worker strike and a subsequent production increase. Volume on the Big Board was 1.1 billion shares as 1.3 billion shares changed hands on the Nasdaq. TODAYS EXECUTIONS: 14:48:15 SBUX SLD 2000 25.25 11:52:20 INTC BOT 2000 27.92 11:10:09 INTC SHRT 2000 28.45 09:31:59 FWC SLD 5000 2.32 OPEN POSITIONS: Short TLAB 3000 9.68 +0.17 Long AAPL 2000 24.83 +0.09 Short TLB 3000 31.57 -0.14 Long PALM 5000 4.01 -0.41 Long CKP 2000 18.50 -0.89 Short PFE 2000 38.08 -0.92 Short AOL 2000 20.25 -1.35 Long .PQODY 20 1.60 -1.60 CLOSED P&L: $590.00 OPEN P&L: ($10,580) TOTAL CLOSED P&L: $45,809 I finally was able to export my PFE position from the account manager which I've held since last week.
Are you talking about intraday trading? Is your friend as good of a swing trader as you are? Your ability to line up several factors to get the best odds in an entry has been very impressive. Not having those advantages makes trading a futures index more stressfull to me. I'm just getting started with the nq, and i have no idea about auto execution systems. Please let us know how it goes.
I plan on limited intraday trading with the NQs and see how well my reads are. My friend is one of the best day-traders I've been around and I'm looking forward to joining him trade futures. He is definitely the daytrader and I'm the swing. We have opened a joint account and I'll see what happens. I'm still devoted to swing trading stock as I have been for the past 2.5 years. I will dabble in futures swing trading but am eager to learn intraday trading with the NQs and ESs soon to follow. From what I've read and observed over the past year, futures looks pretty damn enticing across the board from execution speed to stress to profitability.
Excluding fundamentals, VRTX looks like a good long on a pull back around 30.00 - 30.50 with a stop around 29.00 - 29.25.
Yesterday's weakness in the DOW resulted in the breakdown of near term support of late Feb. The next few days will be vital in determining how dangerous this breakdown was. THE DOW CAN NOT AFFORD ANY MORE WEAKNESS! Otherwise the next lower support area is 9,800. The Naz is in a support area and appears to be testing Feb lows. If the Naz can hold these levels expect a rally to 1850 level. EBAY - Buy Stop: $50.25 Target: $61 Oversold status with imminent MACD crossover, must hold support at recent levels. QQQ - Buy Stop: $32.00 Target: $36.75 After selling off all of March, QQQs appear ready to bounce from these levels. Expect a pullback to support to create another buying opportunity. AMAT - Buy Stop: $50 Target: $55 JMP - Short Stop: $35.75 Target: $30.50
Have you thought of creating a new thread every month, and having a monthly p&l instead of a cummalative one? Great thread! Keep up the good work/
I have received quite a few PMs about this lately and plan on starting a new thread beginning in May: Intraday/Swing - May Thanks!