The Surf Report

slacker · Sep 2, 2009

Hi Surf,
On 8/31/ at 9:59 you posted

Quote from marketsurfer:

sure, 9563, i am OUT of this trade.

surf

A few hours later you posted...

Quote from marketsurfer:

this trade will be a small winner, even if stopped out. i don't get your point.

surf

Did you exit on the 31st as suggested in the first post? When did you enter this trade at what price?

Thank you

marketsurfer · Sep 2, 2009

Quote from slacker:

Hi Surf,
On 8/31/ at 9:59 you posted

A few hours later you posted...

Did you exit on the 31st as suggested in the first post? When did you enter this trade at what price?

Thank you

short from 9590, stops not hit.

thanks, surf

marketsurfer · Sep 2, 2009

although buying after the sell off yesterday is very tempting and makes sense in some cases--- the market is acting extremely uncertain here and i suggest either staying SHORT or staying OUT.

WFC has stabilized and is ganing traction--however-- i suspect this is merely a slight of hand prior to an additional smack down.

the previous levels for the YM DJIA are still in full effect.

exercise extreme caution.

surf

marketsurfer · Sep 2, 2009

marketsurfer · Sep 2, 2009

looks like holding short paid off another day, holding DJIA into thursday...

Stocks traded in an erratic pattern for most of the day. A late session sell off pushed the indexes solidly into negative territory for the close. The FOMC minutes indicating that the Fed is uncertain about the recovery combined with negative news from the job front led to the selling. Gold spiked higher on safe harbor buying as investors searched for safer alternatives than stocks. The DJIA dropped 29.93 to 9280.67, the Nasdaq gave up 1.82 to 1967.07 and the broad based S&P 500 dropped 3.29 to 994.75.

Newmont Mining NEM: This gold mining firm rallied 9.26% or $3.72 to $43.90/share on the back of the spike in gold

Netgear NTGR: An upgrade to overweight at Barclays pushed shares higher by 11.50% or $1.95 to $18.91

Take Two Interactive TTWO: Posted a narrower than expected loss sending shares up by 7.78% or 79 cents to $10.95

Textron TXT: The airplane and helicop

marketsurfer · Sep 3, 2009

some acceleration on the upside pre open, however, it is likely a head fake with additional selling today. time will tell.

surf

marketsurfer · Sep 4, 2009

wowsa, that was some spike in the YM triggered by the NFP report. however, observation of the USD indicated it was false and as such, quickly retracted. suggest holding shorts.

best,

surf

Ivanovich · Sep 4, 2009

Quote from marketsurfer:

suggest holding shorts.

best,

surf

Don't think so mate. Market is off and running again.

Spooz Top · Sep 4, 2009

Tapioca profit..............Home runs are great but few & far between....eh,JJ?

MandelbrotSet · Sep 5, 2009

Quote from Spooz Top:

Tapioca profit..............Home runs are great but few & far between....eh,JJ?

OK, so the market traded back up to resistance after the sell-off.

BFD, it's not my money. FTR, I suggested on the ES Journal that the market was going to trade back-up to 1015 Link, and after two days of marked accumulation, that is exactly what it did (and by association, that's how I traded it).

Just because I wish marketsurfer well with his journal activites, certainly doesn't mean that I'm going to trade like him or follow his calls.

***
Surf's good people, on the Board and off it, so I don't know where all antagonism comes from. Hey, here's a thought. Why don't you, Eprado and Thunderdog put together you own Journal where you actually make your own Calls, instead of commenting on everyone elses.

P.S. LOL