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I agree that we're probably looking at a pullback and that the rally last week was a simply bear market rally. The SOX might be a good candidate for put options. In equities, I've been watching NVDA form a double top. Any weakness on Monday will most likely trigger me short.

Commisso, That is correct. According to the new stated rule, those categorized as daytraders with more than $25K will now be allowed 4 to 1 margin.

If memory serves, the rule will be going into effect sometime around October.

I haven't used them, but I personally don't think much of these high priced, hand-holding outfits that basically tell you what stocks to trade and how to trade them. As far as their claim about helping you learn how to read charts and analysis, you certainly don't need to pay $495 per month to...

For intraday right now, there are trends (mostly down), but in order to stay in you need to keep looser stops with the whipping around that happens. The safest play these days intraday is to take quick profits, as it is much tougher to stay in a trade to ride a trend.

I've been quite successful riding the downtrend during this bear market the past couple of months. For instance, I held a short position on JNPR for a 3 week period. We're at a time currently where (at least in the NASDAQ) there has been so much selling that the downtrend of the past few...

To answer the other part of your question, yes you can short the QQQ's, as well the SPY's and DIA's on a downtick.

I second Arky's suggestion of going with ATA-100 hard drives rather than SCSI. The only SCSI format that outperforms ATA-100 on paper is Ultra-160, and considering the negligible real world difference you would find, but the difference in price, ATA-100 is the way to go. One side note, I'm...

hsanson, My assessment would be that when you sent in your short on a downtick through ISLD, it automatically notched it up 1/16 and posted it as an offer, which was subsequently hit 7 seconds later. gh1, In my experience with IB, in order to convert a long position to short or vice...

I think could be close to a bottom area, provided the consumer can continue to hold up his end of the deal. All the reports coming out show that despite losing 3 trillion dollars in market wealth and job layoffs, consumers are still spending and taking on more debt to do it. If however, they...

Another thought regarding part of Honda's situation, which is a common problem I've heard from some traders, is regarding getting stopped out of positions that shook them out and then proceeded to run. In a whipsaw market like this, it's to be expected more often than in a more stable market...

This is a very valuable lesson that reenforces the maxim that you MUST adhere to stops to have any chance at all of succeeding long term in this profession. It's even more dangerous to have a few successes like Honda did by ignoring your stops and being lulled into a false sense of security...

OK, this is starting to tick me off. Kudos to IB for standing up for the individual traders' rights. I will myself be writing a letter to the SEC. But this is getting ridiculous with these regulations and restrictions.

I would look for volume to be strong or increasing as the stock tries to breakout to the upside to confirm the breakout. If volume is weak, chances are the breakout will fail. In that case, rather than wait until the stock reaches the 26 area to short, I would turn around and go short as the...

squirrel, Learning all you can is always a good idea. The best of us are always still trying to learn, and even then we all have our share of losing trades. I personally have gotten to the point I am by first getting in there and learning through the school of hard knocks (aka losing...

Here's one link (among many I'm sure): http://www.fmlx.com/Equity_Indexes_Member_Companies/New_York/S_and_P_500/index.shtml

I honestly am not usually on different sides of a trade in two different stocks very often (perhaps a couple of times). Most of the stocks I follow are in similar sectors, so usually if the trend is down, they all are headed that way. This is not to say that you couldn't do what you suggested...

Sailplane, It sounds like you don't really use stops, which is playing a very very dangerous game. If all you're doing is taking a position and waiting until you're "right", you won't last long in this profession.

Personally, I would wait to see if it moves back up toward what now would be resistance before going short, rather than chase the price on the way down. If it doesn't come back up and I miss my entry, then I simply let the trade go rather than take the chance on a bad entry.

As far as I know (anyone feel free to correct me)the differences are that your ISLD order for a listed stock will only match up with another ISLD order, unless it's preferenced through SNET or ARCA. Therefore, you are bypassing the specialist and SuperDOT system altogether. This is only a...