nq is getting some serious volume at todays highs.... if it keeps going higher from here, i would consider it a breakout. normally we don't get this kind of volume until after 3pm or in the early morning.
chisox, i don't know what you are talking about???? I didn't say there would be a fed cut. I said this rally looks like the kind we used to get leading up to a fed cut. I was describing what the rally looks like. helllooooo????
they won't think the thread is so sad when the naz is 50 pts higher. Well, since they are short, they probably will think it is sad.
yeah, this rally is real cool. cause I was double dipping at todays lows, I'm way in the money. IIm selling what I bought this morning, since the position was a bit bigger than what I had planned. I've covered costs, and already made a handsome profit. Still holding the bulk of the position for the weeks to come.
Yeah Lundy it is cool and I am way green for it and had said in my thread that there was a good likelihood for a bounce today. With the exception of my SMH call trade- which I entered as the market declined this morning because the Semis were showing good RS - I let price be my trigger. You are the only trader I have witnessed that pays attention to Fibonacci dates for potential reversals but does not actually await a reversal in price.
good job.....Question...in your earlier post you said your stop was the low (ndx lod @ the time was 1023.06) after you double dipped...what made you move your stop??? ndx lod 1014.76... just asking if any stop got triggered......its not intented to bash , just to learn..
Daq, First I said I had a stop there, but then I realized my original analysis was wrong, and I mentioned here that today was the day for the bottom, at which time I removed all stops... Sorry I didn't post that about removing the stops. I did say that if today didn't bottom I would be wrong. Naturally that would mean I would get out tomorrow once todays low was violated.
I find it very hard to do. Maybe possible with futures, but with options at least for me its difficult at bottoms. The main problem is 1) the spread, and 2) at the bottom, the premiums are huge due to the spikes in volatility, so even when the market rallies from the bottom, as the volatility gradually fades it holds back the gains you would make on a call. So, question is, as an example what are u looking at that gives a potential 1000%? A call option worth 5 cents, looking for 50 cents?