Let's Take a Test Drive by Pay$ense
- Thread starter paysense
- Start date
Do you always GO LONG after a 10pt up move?
I still got a 2 contracts (in each futures account) chomping at the bit each and every point along the way!
pay$
Now that the indexes have regained their 50-day moving averages. . .can the ES break on through to the other side of 917?!?
FYI - my laggard covered call play (EXM) is getting action today.
pay$
Now that the indexes have regained their 50-day moving averages. . .can the ES break on through to the other side of 917?!?
FYI - my laggard covered call play (EXM) is getting action today.
Despite <i>quirky</i> EOD (end-of-day) action, indexes finished solidly higher and continued to provide gains for "swing" ETF and futures accounts.
My covered call portfolio had a very nice finish to a very nice year. Timing is the what all of my systems are predicated on.
I hedged my "swing" accounts going into 2009 to see if we can see some continued bullish action or if this is just a "phaze".
My covered call portfolio had a very nice finish to a very nice year. Timing is the what all of my systems are predicated on.
I hedged my "swing" accounts going into 2009 to see if we can see some continued bullish action or if this is just a "phaze".
The last few days were wearing on me, as my LONG swing positions were hedged - while the market continued to rise above support.
I did not feel I should risk more than 100% in gains this past year in this recent environment without seeing further strength in the form of volume.
The market logged big gains on Friday, the first day of the new year. But volume faded as the day progressed.
Then stocks slid in higher volume Monday, as the market's comeback efforts weren't enough to prevent a distribution day for most indexes.
Then stocks rose in higher volume Tuesday, but steep losses among some leading stocks put a damper on the session's results.
I got a reprieve today as the stock market skidded as leading stocks showed more signs of damage, casting the current rally into doubt.
Stocks remained down, but so did volume, giving this otherwise bad day a silver lining.
All the while, I have continued to add covered call positions into my purely CC account. So far these continue to work well and have been for the last month.
850 and 826 will be key areas of support to watch on the ES. Depending on how things progress, I may now look to increase exposure LONG if we hold above these levels.
I didn't think it would be easy to <i>miss out</i> if this budding rally picks up steam, as there is plenty of overhead supply (people willing to sell once they get back "even").
Indeed patience continues to pay off big in this climate. The timeliness if the passage of Obama's economic stimulus package will no doubt be a market mover.
pay$
I did not feel I should risk more than 100% in gains this past year in this recent environment without seeing further strength in the form of volume.
The market logged big gains on Friday, the first day of the new year. But volume faded as the day progressed.
Then stocks slid in higher volume Monday, as the market's comeback efforts weren't enough to prevent a distribution day for most indexes.
Then stocks rose in higher volume Tuesday, but steep losses among some leading stocks put a damper on the session's results.
I got a reprieve today as the stock market skidded as leading stocks showed more signs of damage, casting the current rally into doubt.
Stocks remained down, but so did volume, giving this otherwise bad day a silver lining.
All the while, I have continued to add covered call positions into my purely CC account. So far these continue to work well and have been for the last month.
850 and 826 will be key areas of support to watch on the ES. Depending on how things progress, I may now look to increase exposure LONG if we hold above these levels.
I didn't think it would be easy to <i>miss out</i> if this budding rally picks up steam, as there is plenty of overhead supply (people willing to sell once they get back "even").
Indeed patience continues to pay off big in this climate. The timeliness if the passage of Obama's economic stimulus package will no doubt be a market mover.
pay$