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This is not yet the journal of 3k/day consistent daytrader. I'd like it to eventually be - this is work in progress. I pray for a trending market... this is way too choppy. not a great day.... Overall summary: 1) had plan to trend follow based on massive buying or selling of Nasdaq or...

its climbing back up. 1.2795. it'll be 1.29 by week's end.

haha. by the way. the bloomberg explanation. I don't buy it. If the fed were 'strong dollar', they would have raised the rates. They realize all they really can more easily control, in terms of inflation, is the housing market and its related economies. If they can support the housing...

With that said, I fundamentally believe this weak dollar policy will eventually sink in the the dollar/euro price. When I asked myself today whether I thought they would pause or raise rates, my gut said they would pause - since everything done in connection with this Bush administration...

How true... To concur, its amazing to me how traders following prevalent technical analsysis techniques actually create breakouts and momentum. The more time passes, the more I realize TA guides the markets just as news does.

A lot today does not make sense to me, namely the drop in the Euro. I bought 50k euros after the fed announcement at 1.28750 and now the value is almost 1 penny less. What gives? I would've only expected this behavior after a rate tightening.

After today, it seems like we're just getting started in the rate tightening cycle. I wouldn't be surprised after a substantial oil spike that the fed starts pushing rates up by 50 basis points. That is where the market starts tumbling. Take a look at cisco earnings - news like this will...

well, at least its not 1000. :) I assume you didn't get out. you never know, you might have an up day of short covering. you'll know pre-market what the bias is.

It reminds me of a thought I had -- one worthwhile tendency as a trader to adopt is a bit of fickleness.

how many shares are you in anyway? what price?

agreed. by all means, I meant I am also shy to do anything. I'd short before I'd buy on such a breakout -- support levels take days to establish after something like this. buying would be much scarier.

for the very same reason, I'm a little shy to short after such a flat line drop. I guess I haven't been around long enough to get a comfort level with it. I like a good parabolic descent with intermittent fractional retraces. :)

unbelievable. 25% drop on one penny short of earnings.. what's this market coming to? (er.. yet nothing on aapl a la options scandal and 4 years of mis-stated earnings)

] nymex's home page. go get jan 07 $85 options for $2.71. http://www.nymex.com/lsco_opt_cscall.aspx?product=LO&month=A&year=7&list1=A&list2=7&session=C&putcall=C&prefix=lsco I think these will be offered via globex soon so you can use an IB account to buy them - possibly by the end of...

glad i closed out my NG position. that would have hurt if I kept in. Did a little sunday night trading. 1. short 1 qg 6.93, cover 6.91 (was a little risk averse after last week understandably. just getting warmed up) 2. bought 1 qm 74.775, sold 1 qm 74.825 (same warmup, before I heard...

a good day for the shorts. :) 400k barrels down in Prudhoe http://www.bloomberg.com/apps/news?pid=20601087&sid=a4sIj4Dr47BY&refer=home http://www.bloomberg.com/news/markets/energy.html 250k barrels down in OPEC for july. And somewhere I read a Japanese analyst saying oil could take...

trust me, its not that difficult. if you can get a handle on greeks, IB is pretty easy to deal with.

the underlying, of course.

you mean, 'whatchu talking about willis?' :) maybe my language isn't clear. I'm only saying IV often dissipates with news just coming out, regardless of the underlying's response (up, neutral, or down). Of course, IV sharply rises often following sharp moves, but thats a whole different...

IV has more to do with potential for movement than actual resultant movement. So if you don't want to experience a drop in IV, don't buy options right before earnings unless you've absolutely considered you'll have a drop in premium after the results, even if the stock doesn't move. Rather...