Looks like it could be a VXX bottom. A ton of volume at the lows and we may get the first breakout over the 50 DMA since March-April 2009.
It is one thing to have good trading ideas, it is quite another to execute well. Anyone that has entered a trade and been stopped out by a few pennies only to watch a stock blast off knows the difference between a good idea and a good idea coupled with good execution.
UNG was a perfect [...]
Mark June 1, 2009 down on your calendar. It will be one of the days that we look back at 6 months from now when we are charting the markets. It will either be the day that started the next leg of the rally higher or it will be the big fakeout before the move [...]
Today is one of my worst trading days this year. All my big gains from the last 1-2 weeks are up in smoke. My shorts are up huge while my longs are only up modestly. I am doing what I always do on big loser days. I just keep trading and looking for opportunities. Today [...]
I saw this little blurb on Drudge Report quoting Obama. I was intrigued by the title because I had already decided that the common thread for my Sunday Night Coffee post was that the market was finally taking the excessive spending by the government into consideration. I am glad that perhaps the President understands this.
Let’s [...]
Today has been a good day so far. It would have been better without the following casualties:
- Got stopped out of my IYR short at the open and then it immediately went down.
- Got stopped out of my XLE short.
- Got stopped out of my GLD short
- I added to my long position in VXX
- [...]
Today was the day to put up or shut up. Thanks to my junk longs, I had one of my most profitable days of the year even with my portfolio technically be slightly delta negative. The day got off to a nice start as I sold JAVA in the pre-market up 72%. Only a junk [...]
I hope everyone else had a good month of trading. It feels very good to have built up a little chest of profits.
Today was shaping up to be a winning day but I had too many busts in my junk long portfolio to get in the plus column today combined with the fact that VXX [...]
It was only a couple of weeks ago that I posted “be patient” or “wait for the triangle to break.” In contrast, we are now hitting one of those points in the year where things are getting easier and lots of money can be made. I have observed over my years of trading that every [...]