Intraday/Swing Plays

seanote, just wondering what the resolution of the long calls $SOX was? I believe you had 10 and exited one before leaving. Thanks
 
I entered Monday long 4 SOX calls and closed out between 37 and 39.80. I posted my executions on the last page for today. Last Monday I closed 5 @ 53.10 thankfully. I don't normally touch options, ecspecially the SOX due to the volatility but all the semi indicators were too strong to pass up and I didn't want to tie up the BP ion 4-6 semi stocks. I don't like trading long options.....it's gambling, but every now and then I'll play the game if I have overwhelming indicators. Good Luck and see everyone tomorrow am.
 
Mildly Upbeat Open

Stocks are getting a slight boost in pre-market activity from Goldman Sach's better-than-expected earnings release and General Motor's reaffirmed guidance. Technology stocks could see some follow through on yesterday's modest gains after Dell's CEO sounded upbeat about the company's prospects this year. Treasury prices are little changed following a larger-than-expected widening of the US trade deficit, and world markets are in positive territory.

Will post plays in a few....
 
Still anticipating the continuation of Friday's rally. A primary reason for that optimism is that yesterday's weakness was confined to the big stocks. The Russell 2000, S&P MidCap and S&P SmallCap averages all moved up through resistance yesterday. Expect the big stocks to follow today. Listed yesterday's lows as short-term support. Today's low will probably occur in the morning.

Support: DJIA 10,520 and 10,475, S&P 1,159 and 1,150, NASDAQ 1,860 and 1,845
Resistance: DJIA 10,665, S&P 1,170, NASDAQ 1,894 and 1,945

IMO:

HWP - Sell
The price continues to trend down following any rallies over the last four months.

LLTC - Buy
GE - Sell
 
I did not have any closing transactions today due to all the whipsawing happening intraday. I don't like selling into that type of market. Tomorrow should be more indicative towards establishing a fairly reliable short-term trend which will help give me a better perspective of this market.


11:02:07 LU BOT 4000 4.55

OVERNIGHTS:
BBH BOT 1000 127.47
HET BOT 2000 42.92
IBM SHRT 1000 106.61
MLNM BOT 2000 22.60
DNA BOT 2000 51.97
ADBE BOT 2000 39.65

CLOSED P&L: $0 OPEN P&L: $6,120
TOTAL CLOSED P&L: $14,381
 
I don't understand something here. You say that you are looking to Wed. for a more reliable short term trend to show. However you are going home heavy on the long side. Why wouldn't
you close out positions and then wait for that trend to show?:confused: Especially since your open positions are showing profits?

:cool:
 
I want to see stronger sentiment either way which I think Wed will bring. The only reason I'm holding longs overnight is due to the profits I have built into some of the positions. If my open P&L was flat near market close I would have closed all positions and waited for the morning. Obviously I have an inclination that the bulls will prevail tomorrow by holding these positions but I will not sell into this weak volatility. If tomorrows volume is strong and stocks point towards the downside I will begin closing some of my positions and watching news and indicators closely. I might have made a mistake with LU today since the sector was more or less downgraded with a dismal 2nd half outlook towards the afternoon, but I think it's a good buy at these levels which might persuade me to hold the position longer than planned. This position was established as more of an investment than a swing trade. My stop will be looser on LU than the other positions. Hope that answers your question.
 
You must log in or register to reply here.
Back
Top