there is dramatic resistance in the VIX at 26.
system is staying short from entry point/
stay tuned
surf
system is staying short from entry point/
stay tuned
surf
The Surf Report
- Thread starter marketsurfer
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The VIX broke resistance today, then pulled back below the death line at 26. this market has further to fall, system suggests staying short.
surf
Indexes closed down today in a wide swinging, volatile session. Sub Prime concerns and dropping oil prices threw the market violently in both directions, prior to closing, with the DJIA ending down -56.58 to 11231.96, the Nasdaq dipped -2.06 to 2243.32 and the S&P 500 slipped -10.59 to 1252.31.
Fannie Mae (FNM | Quote | Chart | News | PowerRating) collapsed 16.19% or $3.04 to $15.74/share when it was discovered that it may need to raise $75 billion in new cash, along with Freddie Mac, due to write downs and accounting rule changes.
Yahoo (YHOO | Quote | Chart | News | PowerRating) jumped 12.88% or $2.75 to $24.10/share on Microsoft's statement that it may renew takeover talks with the search giant.
NetApp Inc. (NTAP | Quote | Chart | News | PowerRating) grew by 5.61% or $1.23 to $23.18/share due to an analyst upgrade from neutral to outperform.
Lehman Brothers (LEH | Quote | Chart | News | PowerRating) fell 9.98% or $2.28 to $20.57/share due to an energy pricing company placing them under review and blocking trading access to certain oil contracts, per Reuters.
Oil fell over $5.00/Barrel today, prior to bouncing back to end the session down $3.63 to $141.66/barrel. Gold fell $4.80 to $928.80/oz and the VIX broke technical resistance at 26, hitting a high of 26.87 prior to pulling back, closing up 3.83% to 25.75.
surf
Indexes closed down today in a wide swinging, volatile session. Sub Prime concerns and dropping oil prices threw the market violently in both directions, prior to closing, with the DJIA ending down -56.58 to 11231.96, the Nasdaq dipped -2.06 to 2243.32 and the S&P 500 slipped -10.59 to 1252.31.
Fannie Mae (FNM | Quote | Chart | News | PowerRating) collapsed 16.19% or $3.04 to $15.74/share when it was discovered that it may need to raise $75 billion in new cash, along with Freddie Mac, due to write downs and accounting rule changes.
Yahoo (YHOO | Quote | Chart | News | PowerRating) jumped 12.88% or $2.75 to $24.10/share on Microsoft's statement that it may renew takeover talks with the search giant.
NetApp Inc. (NTAP | Quote | Chart | News | PowerRating) grew by 5.61% or $1.23 to $23.18/share due to an analyst upgrade from neutral to outperform.
Lehman Brothers (LEH | Quote | Chart | News | PowerRating) fell 9.98% or $2.28 to $20.57/share due to an energy pricing company placing them under review and blocking trading access to certain oil contracts, per Reuters.
Oil fell over $5.00/Barrel today, prior to bouncing back to end the session down $3.63 to $141.66/barrel. Gold fell $4.80 to $928.80/oz and the VIX broke technical resistance at 26, hitting a high of 26.87 prior to pulling back, closing up 3.83% to 25.75.
Dear Surf,
What do you think? Cash is good for now and only trade Forex?
i cant see any big swings in anything else? Indexs, Gold , oil unless on day to day but its too risky for me.
from eureka:
June 2008 Hedge Fund Indices
Early reporting funds suggest a flat to negative month for hedge funds in June (0.2%* on average), in the face of wide swings across key asset classes in the underlying markets â the MSCI World Index plunged 8.1% on the month, while energy prices witnessed a sharp run up, with crude oil hitting another record high (over US$140 to the barrel at monthâs end).
June 2008 Hedge Fund Indices
Early reporting funds suggest a flat to negative month for hedge funds in June (0.2%* on average), in the face of wide swings across key asset classes in the underlying markets â the MSCI World Index plunged 8.1% on the month, while energy prices witnessed a sharp run up, with crude oil hitting another record high (over US$140 to the barrel at monthâs end).
System is staying Short as expected in YM.
surf
surf
Hong Kong's Hang Seng Index opens lower; currently down 130 points, or 0.6%, to 21675
19 minutes ago
(RTTNews) - Hong Kong's Hang Seng Index opens lower; currently down 130 points, or 0.6%, to 21675
may be a rough day tomorrow for the US indices. system is staying short here.
surf
19 minutes ago
(RTTNews) - Hong Kong's Hang Seng Index opens lower; currently down 130 points, or 0.6%, to 21675
may be a rough day tomorrow for the US indices. system is staying short here.
surf
FYI....on trading matters...i played the JSX jakarta stock yesterday....there was a bomb scare in Bali market crashed so i bought...soon after it was deeemed to be a Gas explosion not related to Terror.....made a quick 10% sold end of day....
Hang Seng yes its down....combine with europe which opens in 6 or so hours...lets see the rollercoster ride we will have...Iran missle test its almost as if they are toying with the market
Hang Seng yes its down....combine with europe which opens in 6 or so hours...lets see the rollercoster ride we will have...Iran missle test its almost as if they are toying with the market
Quote from markyhabs2:
FYI....on trading matters...i played the JSX jakarta stock yesterday....there was a bomb scare in Bali market crashed so i bought...soon after it was deeemed to be a Gas explosion not related to Terror.....made a quick 10% sold end of day....
Hang Seng yes its down....combine with europe which opens in 6 or so hours...lets see the rollercoster ride we will have...Iran missle test its almost as if they are toying with the market
interesting, nice going!
surf
Hey Surf,
Yes, the HSI is down a little bit more than 200 points as of this post.
I been shorting for quick scalps but as usual its a rollar coaster. I guess thats what makes it good to trade.
Best to you surf
Bob
we believe copper is in for another run at the highs, take it as you will:
"Thieves Cut Down 360 Foot Tower To Steal Copper." This headline, from Tennessee, came across the news service during my morning research today. Thieves going to extreme lengths to steal this common metal? Increases in metal thefts can signal an increase in demand leading to an increase in price. Maybe there is more going on right now than initially meets the eye, let's take a closer look at copper.
What exactly is copper?
Copper has been in use for at least 10,000 years and is the first metal used by early civilizations. It remains a building block of modern life with over 95% of all copper mined being extracted since 1900. A few of the major products made from copper include electrical cables, data cables, tubing, plumbing, radiators, and other electrical equipment. 575,000 tons are used yearly for the world's needs. According to a Yale University study, demand will outstrip supply by 2100. China's booming economy accounts for over 22% of the world's demand for copper. As China and its neighboring economies develop, demand should continue to increase for this commodity.
How can copper be traded?
Copper is traded daily by institutions, industry and retail traders. The easiest way to access the copper market is via the Comex miNY future contract. This E-mini contract is traded on GLOBEX with the symbol QC. It's traded in units of 12500 pounds and has a minimum price fluctuation of .0020 cents per pound. It takes $3882.00 in margin to trade one contract. However, there are brokers that will allow you to day trade for much less, as long as your positions are closed prior to the sessions close.
Why Now? Fundamental and Technical Reasons
In addition to increasing worldwide demand and overall supply issues, copper prices are tied to the dollar and oil. As the dollar declines, oil and copper increase in price due to increasing demand for alternative investments. There is a copper mine strike in Peru set to take place on July 16th. This is exciting to me, as it has the potential to be a prolonged situation and may seriously disrupt production leading to a surge in prices. In fact, prices have moved slightly higher on the news already. I would suggest watching...........
continued on TM.
best wishes, surfer
"Thieves Cut Down 360 Foot Tower To Steal Copper." This headline, from Tennessee, came across the news service during my morning research today. Thieves going to extreme lengths to steal this common metal? Increases in metal thefts can signal an increase in demand leading to an increase in price. Maybe there is more going on right now than initially meets the eye, let's take a closer look at copper.
What exactly is copper?
Copper has been in use for at least 10,000 years and is the first metal used by early civilizations. It remains a building block of modern life with over 95% of all copper mined being extracted since 1900. A few of the major products made from copper include electrical cables, data cables, tubing, plumbing, radiators, and other electrical equipment. 575,000 tons are used yearly for the world's needs. According to a Yale University study, demand will outstrip supply by 2100. China's booming economy accounts for over 22% of the world's demand for copper. As China and its neighboring economies develop, demand should continue to increase for this commodity.
How can copper be traded?
Copper is traded daily by institutions, industry and retail traders. The easiest way to access the copper market is via the Comex miNY future contract. This E-mini contract is traded on GLOBEX with the symbol QC. It's traded in units of 12500 pounds and has a minimum price fluctuation of .0020 cents per pound. It takes $3882.00 in margin to trade one contract. However, there are brokers that will allow you to day trade for much less, as long as your positions are closed prior to the sessions close.
Why Now? Fundamental and Technical Reasons
In addition to increasing worldwide demand and overall supply issues, copper prices are tied to the dollar and oil. As the dollar declines, oil and copper increase in price due to increasing demand for alternative investments. There is a copper mine strike in Peru set to take place on July 16th. This is exciting to me, as it has the potential to be a prolonged situation and may seriously disrupt production leading to a surge in prices. In fact, prices have moved slightly higher on the news already. I would suggest watching...........
continued on TM.
best wishes, surfer
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