Trading Journal - June

Status
Not open for further replies.
Originally posted by moffitt
Seanote
So far today it doesn't look like they want to go down.
Do you see something differant??

:cool:
More...

If the NQs break 1060 I think the market will close in negative territory today. There should be some heavy profit taking later today or early next week. I don't see much upside left over the next few trading days pending any significant economic news so I feel good about my shorts. CRUS has a mind of its own right now but it's had quite a run over the last few days due to MMs gapping it up on low volume. NVDA is in the same sector and has been hammered over the last month/week. CRUS should follow suit eventually.
 
If you look at the Daily chart on KLAC its been up & down many times,many short opps....has more volume on a daily basis than CRUS, seems like
an easier more profitable short??

Its at its lows for today,

Pat

:)
 
Here's a great lesson to learn. Look at a 1 min chart and notice the huge gap down around 15:25. That gap, or part of it will usually fill which I was expecting, but not to the extreme and quickness that it did. One obvious point that slipped my mind was as the market nearined the close, portfolio managers will send huge buy side order flow to inflate the closing price of their large holdings so they have a more favorable report at quarters end. I can't believe, well acutally I can, how fast that stock gapped up. I refuse to sell into that manipulation by the specialists. Now that the market is closed you can see how quickly the price dropped back.
 
Seanote -

i'm not following you on MSFT at 15:25 - but was wondering why the stock dropped a point right at the close?
 
TODAYS EXECUTIONS:

15:39:04 IBM SHRT 500 71.84
15:37:34 IBM SHRT 2500 71.92
15:28:35 IBM BOT 3000 71.80
13:54:31 CRUS SHRT 500 7.41
13:52:46 CRUS SHRT 500 7.42
13:45:59 CRUS SHRT 2000 7.35
11:53:08 TTWO SHRT 600 20.50
11:51:12 TTWO SHRT 1700 20.55
10:01:17 QLGC BOT 3000 38.69
09:53:02 IBM SHRT 3000 72.70

OPEN POSITIONS:

SHORT CRUS 3000 7.37 -0.06
SHORT TTWO 2300 20.54 -0.06
SHORT IBM 3000 71.91 -0.20

CLOSED P&L: $4,680 OPEN P&L: ($930.00)
MTD: $52,093 YTD: $255,367

This wraps up another month in which I exceeded my average monthly return by approximately 6%. June was a great month to trade excluding a couple days (like yesterday) that left me feeling lost regarding market direction and rationale. I still stand firm on my opinion that the market will sell off heavily over the next couple trading days so I've positioned myself going into the weekend. Have a good one.
 
Originally posted by Seanote
, portfolio managers will send huge buy side order flow to inflate the closing price of their large holdings so they have a more favorable report at quarters end. .
More...
This practice is called "painting the tape", which is not only a violation of exchange rules, but is illegal as well. I know that some of you here must have passed the series 55?
 
Status
Not open for further replies.
Back
Top