Pabst's Blue Ribbon Trades

I use a stat-query engine for raw-analysis and then take my shots based upon discretion. Some tape-reading models are applied. The model is fairly accurate, but I've been ignoring the vol-model which would have me reduce size. I think we're very close to a bottom in the XLF and tech. I went long GOOG at 628.00 and BSC at 99.55 today.

 

Thanks.

I don't watch stocks too much..... so BSC is below 100 again! Wow!

 

It's very hard for me to sit through 60pt swings in futures. I'd rather trade futures sparingly against my options book. With an options spread the money is spent and I know my payout/risk. It's a personal preference. I still trade futures actively and in my day I threw a pretty good line but my futures trading leaves much to be desired. Conversely I've hit THREE index plays this year for an average of 7-1 each. If I'd pyramided those gains rather than pissing them away in Bond futures I'd be a much happier individual.......

 

Thanks Pabst. Good points. Very good points. This is an approach I should study/consider.....

 

Risk, GOOG was under 5 bills as recently as August.It's low of the year is 437.

BSC? Not exactly Rock of Gibraltar. What's Hutton trading last?


I'm not even saying the financials have to fall much more than they have. They just aren't going to bounce much.

If I were to build a fundamental model it would be SCREAMING buy 'em. Cheap money chasing cheap earnings in a super low interest rate environment. 90% of the time stock markets EXPLODE in this setting. My gut though tells me something's up.

My measurements keep randomly equaling some retracement we made in 1998 or 1997 or 1987 or even 1974. Why is the market referring to crisis years? This is 1998 turned upside down. Instead of rallying massively on the Fed we are now panicking. MUCH different world bro. Oil was 20 bucks. Gold 250. The dollar on highs. You may nail these trades but keep tight stops.

 

I'm going to respectfully disagree w you on goog and bsc( I don't follow xlf so no opinion).

Goog closed @ 629.65
Bsc closed @ 99.94

i see:

goog< 600
bsc < 90

 

I hear you, GL.

GOOG is 631.20 bid AH.

 

Not sure what relevance of after hours bid is..except if you're in this for a day trade?

You say these 2 stocks are around their lows, and I say they're both going lower. One session will not answer who is right or wrong.

GL?

 

I expect a print of 625-640 tomorrow, which would prove something. GL = good luck.

 

What would that prove? That's alittle smaller than today's range.