5% - 10% profit per day trading
- Thread starter spanish89
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IMO the little bull run we had is now over. I know we never broke the critical 4255 level but didnt closed above 4500 either and never tested the 4540 50 day ma(very critical).
Other factors which include eminent bank faliures and most importantly the GDP data all point towards the downside. I know very little about equities but I believe we are headed 6500(Dow) 700(S&P) very soon.
Other than that this time the inventories will also be bearish IMO as the mexican ports open and imports resumed(they were closed due to bad weather).
All in all, I believe we will test the 4255 again on monday and on breaking it we will be heading towards low 40s. If the support is not broken then we will sideways movement(4275-4450) till the inventories which will provide direction. Break above 4500 is highly unlikely
Other factors which include eminent bank faliures and most importantly the GDP data all point towards the downside. I know very little about equities but I believe we are headed 6500(Dow) 700(S&P) very soon.
Other than that this time the inventories will also be bearish IMO as the mexican ports open and imports resumed(they were closed due to bad weather).
All in all, I believe we will test the 4255 again on monday and on breaking it we will be heading towards low 40s. If the support is not broken then we will sideways movement(4275-4450) till the inventories which will provide direction. Break above 4500 is highly unlikely
Quote from wee man:
Hey Spanney, why don't you give up on taking the Valium its making you a dull boy...get back on the coke.
lol
I took the big fast trades when the market was big and fast moving..,
and so i made a huge amount of profit accordingly.
Now that the market is very very slow and dull moving ive changed my trading stratergy to a very slow method.
Quote from spanish89:
ALoha mate, hows your spread trading going profitwise??
the spread trades I did so far are flat to little loss. I am learning better with the timing to enter trade. good part is even when it is loss it is very small not like outright positions.
I think the chances of profit in the above mentioned are good , I need to be patient for few days and I will be
http://www.bloomberg.com/apps/news?pid=20601087&sid=ag0zqWPfbaVM&refer=home
U.S. employers may have cut payrolls by 650,000, the most since 1949, and the jobless rate probably surged to 7.9 percent, according to the median estimates in a Bloomberg News survey ahead of Labor Department figures March 6.
U.S. employers may have cut payrolls by 650,000, the most since 1949, and the jobless rate probably surged to 7.9 percent, according to the median estimates in a Bloomberg News survey ahead of Labor Department figures March 6.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ag0zqWPfbaVM&refer=home
- OPEC gave conflicting signals on their intentions to further cut on 3/15
- Net Long positions fell by 16,267 contracts, or 36 percent, from a week earlier.
1) Officials from the Organization of Petroleum Exporting Countries, the supplier of 40 percent of the worldâs oil, gave conflicting signals on their intentions to further cut output to bolster prices when they meet in Vienna on March 15.
The group âwill likelyâ reduce supplies to support prices when it gathers, Algerian Oil Minister Chakib Khelil said on Feb. 28 in Algiers.
OPEC Production
Yesterday, Iranâs oil minister said OPEC is unlikely to lower crude production when it meets.
âI donât believe we will go toward another production cut,â Gholamhossein Nozari said in comments posted on the Web site of state-run Iranian Students News Agency. âIn this meeting we will need to review the economic situation in 2009 and 2010.â
Crude oil, which fell to a five-year low of $33.87 on Dec. 19, has rebounded as OPEC restricted supply. At its last meeting in December, members agreed to a record 9 percent reduction in supply targets effective Jan. 1, extending two earlier resolutions to curb production as the global economy sank into a recession, straining the budgets of crude exporters.
COT:
Hedge-fund managers and other large speculators decreased their net-long position in New York crude-oil futures in the week ended Feb. 24, according to U.S. Commodity Futures Trading Commission data.
2) Speculative long positions, or bets prices will rise, outnumbered short positions by 28,749 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report.
3) Net-long positions fell by 16,267 contracts, or 36 percent, from a week earlier.
- OPEC gave conflicting signals on their intentions to further cut on 3/15
- Net Long positions fell by 16,267 contracts, or 36 percent, from a week earlier.
1) Officials from the Organization of Petroleum Exporting Countries, the supplier of 40 percent of the worldâs oil, gave conflicting signals on their intentions to further cut output to bolster prices when they meet in Vienna on March 15.
The group âwill likelyâ reduce supplies to support prices when it gathers, Algerian Oil Minister Chakib Khelil said on Feb. 28 in Algiers.
OPEC Production
Yesterday, Iranâs oil minister said OPEC is unlikely to lower crude production when it meets.
âI donât believe we will go toward another production cut,â Gholamhossein Nozari said in comments posted on the Web site of state-run Iranian Students News Agency. âIn this meeting we will need to review the economic situation in 2009 and 2010.â
Crude oil, which fell to a five-year low of $33.87 on Dec. 19, has rebounded as OPEC restricted supply. At its last meeting in December, members agreed to a record 9 percent reduction in supply targets effective Jan. 1, extending two earlier resolutions to curb production as the global economy sank into a recession, straining the budgets of crude exporters.
COT:
Hedge-fund managers and other large speculators decreased their net-long position in New York crude-oil futures in the week ended Feb. 24, according to U.S. Commodity Futures Trading Commission data.
2) Speculative long positions, or bets prices will rise, outnumbered short positions by 28,749 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report.
3) Net-long positions fell by 16,267 contracts, or 36 percent, from a week earlier.
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