Trading in Luxury

tue 8/02/2011

closed out tue am for $.10, dodged that bullet....





Quote from traderlux:

mon 8/01/2011

spy @$128.47

bps, weekly expire fri 8/05, 123/124p, $.14 (16%), 3.5% cush
More...
 
2011, NOV, 25, FRI

SDS eod $23.19

BTO DEC 24C $1.10

http://finance.yahoo.com/q?s=SDS111217C00024000

swing trade using calls on SSO and SDS, signals are from simple trend and momentum indicators.

the entry signal for SDS is from NOV, 16, so i am about a week late getting in, butt i wanted to get it started.

when the trigger occurs, i plan to close the SDS call and open a SSO call.
 
....here is a tactic i am looking at, it is a SPY/TLT swing trade with a longer term time frame. (got the idea from a guy at stockcharts)

you can be into one side or the other for weeks or months at a time....

http://stockcharts.com/h-sc/ui?s=SPY:TLT&p=D&yr=3&mn=0&dy=0&id=p06939875656

when the longer term ma is above the shorter, you are long SPY, and when the longer term ma is below the shorter, you go long TLT.

as of now the trade is in TLT, butt possibly getting close to a signal change.

....i also have a shorter term signal that looks close to a change also...

http://stockcharts.com/freecharts/candleglance.html?SPY:TLT|D
 
Quote from traderlux:

....here is a tactic i am looking at, it is a SPY/TLT swing trade with a longer term time frame. (got the idea from a guy at stockcharts)

you can be into one side or the other for weeks or months at a time....

http://stockcharts.com/h-sc/ui?s=SPY:TLT&p=D&yr=3&mn=0&dy=0&id=p06939875656

when the longer term ma is above the shorter, you are long SPY, and when the longer term ma is below the shorter, you go long TLT.

as of now the trade is in TLT, butt possibly getting close to a signal change.

....i also have a shorter term signal that looks close to a change also...

http://stockcharts.com/freecharts/candleglance.html?SPY:TLT|D
More...

I think you meant when the SHORTER MA is above the LONGER you go LONG SPY ad when the LONGER MA is above the SHORTER you go long TLT...
 
....you are correct....thanks for looking, and thinking about it.....the trade is still in TLT.....longer ma still above the shorter, as it has been since about mid May...(on May 16, SPY was $133 and TLT was $93, today they are both at about $121)....



Quote from N54_Fan:

I think you meant when the SHORTER MA is above the LONGER you go LONG SPY ad when the LONGER MA is above the SHORTER you go long TLT...
More...
 
..trade from Jan 20, from a blog, WA, i have mentioned previously..

http://blog.wastingassets dot net/

iron condor in the Feb SPY contracts, buying the 126 and selling the 127 puts, selling the 136 and buying the 137 calls for a credit.... Trading Execution - The Feb "SPY" iron condor was filled for a credit of 0.35.

SPY closed at $131.95 on Fri Jan 20

(...note, if he hasnt yet corrected it, he has a typo in the trading execution , it is SPY, not GLD...)
 
review the bull put spread (BuPS) trade plan outline from earlier:

trade plan for SPY BuPS

trade an index to avoid single stock suprises.

trade SPY, better understanding of it than the futures options contracts with euro-type expiry.

look for a support level and place the BuPS below it.

use BB and rsi as the main T/A study.

look for a dime, or a nickel credit on a dollar.

Spreads $1 or $2 wide, also consider $3 or up to $5. Still evaluating.

trade front month and enter wk after OPX wk, or any time after.

plan allows for additional entries of the same spread or a different one.

plan to exit OPX wk, usually by Tue.

hold to expiry if far enough OTM at the time.

loss exit, get out if the spread goes over 2X the original price (original credit).

no adjustments, just basic, simple plan going in, if things go bad, get out and plan next trade.
 
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