Santa Clause Rally=Much Higher=More Records

CPI could be around the expected range. If so the markets will most likey stay within a trading range of 12275-12350

If its well below estimate expect a 1%+ move to the upside. Anything above a .2 and expect a selloff.

By the way I just went long SMH. The market should certainly fall now. :p
 
Quote from romik:

I am short actual S&P from 1398 with calls. I could be wrong and then calls would (partially) offset losses, but if I am right, I will probably bank a lot more than a person trading reports when they come out IMO as at times reaction to the report is opposite to logical interpretations.
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Romik, I respect all kinds of trading strategies.
On this peculiar event on Friday morning, I would have a different approach, based on the open. If the open is a significant gap up or down, I will fade it. Probably with more powder (capital) if it is down because I still believe there is a big incentive to keep this market with a nice run-up for 2006.
 
Quote from ACM Trader:

Romik, I respect all kinds of trading strategies.
On this peculiar event on Friday morning, I would have a different approach, based on the open. If the open is a significant gap up or down, I will fade it. Probably with more powder (capital) if it is down because I still believe there is a big incentive to keep this market with a nice run-up for 2006.
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I think Friday will be a tough day to trade even if its a large gap down. If the CPI comes in at .4+ which I highlllly doubt, I wouldnt go long anything Friday. Anything .2 or less and it gaps down a turnaround is definetly in the cards.
 
Quote from S2007S:

I think Friday will be a tough day to trade even if its a large gap down. If the CPI comes in at .4+ which I highlllly doubt, I wouldnt go long anything Friday. Anything .2 or less and it gaps down a turnaround is definetly in the cards.
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Fair enough. I am preparing a battle plan based on the two variables core CPI actual vs estimate and gap up / down. It should tell us how the market makers "play" the numbers. I would fade only if the open gap (or lack of) seems extreme.
And by the way I will go to the number net long. It is just a matter of how long I will go before thursday night. Long individual stocks, short ETFs , as usual.
 
Quote from ACM Trader:

Fair enough. I am preparing a battle plan based on the two variables core CPI actual vs estimate and gap up / down. It should tell us how the market makers "play" the numbers. I would fade only if the open gap (or lack of) seems extreme.
And by the way I will go to the number net long. It is just a matter of how long I will go before thursday night. Long individual stocks, short ETFs , as usual.
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What etfs do you short, I keep QID in my portfolio to play the shortside of the market. I tend to trade more etfs than I do individual stocks.
 
Quote from S2007S:

What etfs do you short, I keep QID in my portfolio to play the shortside of the market. I tend to trade more etfs than I do individual stocks.
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The usual big "suspects": SMH (relative weakness this year) - QQQQ - SPY - DIA , in order. But QID seems interesting with a x2 leverage. To be investigated. Is the volume OK ?
 
Quote from myminitrading:

Midnight Rally tonight, Santa and his little workers will be busy, we will wake up to positive futures tomorrow
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either way.. congrats once again to all those who play the no risk buy the dip for free money system $$
 
Specialist Scrooge:

[Haughty tone] "The Poor?" [traders] "What of the Poor?"

"Are there no Prisons?" "Are there no Workhouses?" "Is there no Bright?..."



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