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Yeah, that OSX has been tricky lately. We took OIH long last week for a swing play on the same day prior to Saddam's decision to allow UN inspectors into the country later that evening. Oil tanked the next morning. Well, that's trading! I'm leaving OSX alone for a while because it's not...

We like to trade OIH, which is the OSX HOLDRS ETF. It is diversified among 17 different OSX stocks, and can really move when the sector is in play. Ever trade it?

Rather than focusing on eliminating competition through regulation, the specialists should consider earning business through better and faster executions. . .but I guess that won't happen. Don't think it will doom ISLD because they have so much other business with individual stocks, also the...

thanks for the proper thread info.

As I understand the press release, Island is only pulling the ability to see its order book. However, I believe the aggregate best bid and offer will still continue to appear on Nasdaq Level II. Can anyone verify this?

The Wagner Daily September 19, 2002 -------------------------------------------------------------------------------- Commentary: The major market indices gapped down below support on the daily charts yesterday and trended down for most of the morning session, enabling us to profit from a...

I used to have an account with them for options trading. While I would not recommend them for direct access stock trading (they are web-based), I do think they are among the tops in customer service for options trading. They also allow you to enter sophisticated options strategies online...

As part of our continuing analysis of various ETFs, we chose OIH for analysis this week because it is one of the ETFs we are trading this week due to expected volatility over Middle East tensions. Since we cover a different ETF each week, you can view earlier parts of this thread to read about...

10:56 am - SMH is approaching a new 52-week low and looks like a great short on the daily chart if it breaks below 22. However, it will probably bounce off 22 if it tests that price level. We will ONLY be shorting if it tests the 22 area, bounces off of it and THEN confirms the break of...

We bought OIH (the oil service HOLDRS) when it triggered per my previous post. There is a lot of relative strength in that index right now (it's at the high of the day as the S&P is near the low). Looking to use a trailing stop. We also shorted a HALF position of PPH, per the explanation...

The Wagner Daily September 16, 2002 -------------------------------------------------------------------------------- Commentary: Last week was filled with an abundance of indecision combined with a lack of commitment, as evidenced by all the gaps and narrow range days we experienced. The...

I agree with everyone else and bail immediately, regardless of the p/l of the trade. I do this mainly because my psyche gets too messed up when I make the wrong trade and it's not worth taking the risk while trying to assess the situation. You can always get back in if it turned out to be the...

For what it's worth, many of the best traders I know have wiped out at one point or another. In fact, it is my opinion that any trader who has NOT had a significant drawdown is either a new trader or a liar. However, what determines one's long-term success is how he/she recovers from that...

Appreciate your feedback. Yes, the information I presented may be a bit elementary to some traders, but I'm amazed at how many traders fail to have even a simple position size management system that works effectively. I hope that you are correct that most traders already have a system for...

Yeah, we were long going into 9/11 last year and obviously lost more than 1 - 2 % on my swing trades. Not much we could do about it other than sell into the first bounce when the market reopened and chip away at making the losses back over the next several months. That's just trading, but we...

Actually, the spreadsheet that I use ABSOLUTELY takes volatility into account because the volatility determines where I set my stop loss on each trade. Generally speaking, the more volatile the issue, the looser of a stop I give it, which directly impacts the position size I take. It is NOT...

Glad you like the information. I will keep posting here, probably about once per week. Have a nice weekend,

Beginning this week, we will be analyzing a different ETF once per week. We chose SMH for analysis this week because it is one of the most popular and liquid ETFs, with the exceptions of QQQ, SPY, and DIA. The purpose of this analysis is to enable you to understand the underlying components that...

Actually, we do indeed have leading indicators. The leading indicators we follow are the actual sector indexes. For example, if trading BBH, we follow the BTK index. If trading SMH, we follow the $SOX. The sector indexes tend to lead the respective ETFs by a few seconds, even creating...

I want to share my experiences and ideas for what I have found to be the best type of order to place and the most efficient method for routing your ETF order. This is the second part of the article I posted last week on getting efficient ETF order executions. Throughout this article, I have...