Before the market opened on Monday, news was spreading that Osama Bin Laden had been killed by US Forces. This caused the indices to gap up at the open, a gap that soon got faded. As a result, most indices are now printing bearish candles on the daily charts, esp. NASDAQ and the Russell 2000. This means we might get some more downside this week.
Commodities sold off, but the hardest hit was for silver. Down 6% at the open, it managed to erase some of the losses, but after the morning rally price started to reverse and silver ended the day -8.6%.
Swingtrades
I covered BIDU and SINA in pre-market, not having a good feeling about this. Very small gain here.
I sold the ZSL-calls for a nice profit, but could have gotten more out of it if I held untill the close. And there's probably more downside for silver to come.
I also covered 1/4 of my position in the VIX-calls.
Daytrades
I made a small long trade in YM-futures (mini-Dow) for a quick little gain. Covered too soon, before my target was reached. Got in 12760 after the midday bounce on support and covered 12764 and 12765. Target was 12770 but price even got over 12780.
Showing posts with label BIDU. Show all posts
Showing posts with label BIDU. Show all posts
Monday, May 2, 2011
Friday: The only way is up...
...or so it seems. Well, this shows us the power of the bulls. The markets keeps ripping higher, getting overbought at this point. But there will always be some kind of catalyst that triggers a correction/pullback. The question is, when will this happen and will it be a sideways correction (in time), or a real pullback?
One concern for the silver bulls: gold rallied higher on Friday, but silver actually went lower. That must be the first time silver is not leading gold. Also the reason why I bought some ZSL-calls and looking at the futures this Monday-morning, they're probably going to pay off nicely.
Swingtrades
Despite my words on Thursday (I'll wait for a pullback before buying stocks), I went long BIDU and SINA. Both stocks seemed to bounce on support.
Like stated above, I bought ZSL-calls and I also went long some VIX-calls. The VIX is near it's lowest point since June 2007. That doesn't mean it can't get any lower, but I expect at least a temporary bounce higher in the coming week.
Daytrades
I went long the E-mini futures in pre-market for a small gain. Raised my stop up aggessively at one point, which stopped me out. Of course my target was met afterwards. Next time I'll use 'set and forget'-orders and leave my computer for at least half an hour. That should work.
One other daytrade, SIMO. Long at 12.87 but we went down soon, thru my stop of 12.65. I pulled the buy-trigger way too fast on this one. It might be a good idea to stop daytrading for a while and focus more on futures and swingtrading.
One concern for the silver bulls: gold rallied higher on Friday, but silver actually went lower. That must be the first time silver is not leading gold. Also the reason why I bought some ZSL-calls and looking at the futures this Monday-morning, they're probably going to pay off nicely.
Swingtrades
Despite my words on Thursday (I'll wait for a pullback before buying stocks), I went long BIDU and SINA. Both stocks seemed to bounce on support.
Like stated above, I bought ZSL-calls and I also went long some VIX-calls. The VIX is near it's lowest point since June 2007. That doesn't mean it can't get any lower, but I expect at least a temporary bounce higher in the coming week.
Daytrades
I went long the E-mini futures in pre-market for a small gain. Raised my stop up aggessively at one point, which stopped me out. Of course my target was met afterwards. Next time I'll use 'set and forget'-orders and leave my computer for at least half an hour. That should work.
One other daytrade, SIMO. Long at 12.87 but we went down soon, thru my stop of 12.65. I pulled the buy-trigger way too fast on this one. It might be a good idea to stop daytrading for a while and focus more on futures and swingtrading.
Tuesday, April 19, 2011
Moderate gains
The indices went up moderately, not enough to get rid of the bearish look they have right now.
But lots of market leaders are hitting new highs (even yesterday in a down market), so there still is hope the rally will continue.
Swingtrades
I closed my 3 swingtrades (BIDU, SOHU & NTES). Unfortunatelly a little too soon, more gains were possible.
I got in DANG @23.20 and holding this one for a couple of days/weeks, the stock closed strong on big volume!
No daytrades today.
But lots of market leaders are hitting new highs (even yesterday in a down market), so there still is hope the rally will continue.
Swingtrades
I closed my 3 swingtrades (BIDU, SOHU & NTES). Unfortunatelly a little too soon, more gains were possible.
I got in DANG @23.20 and holding this one for a couple of days/weeks, the stock closed strong on big volume!
No daytrades today.
Monday, April 18, 2011
Tricky market
Standard and Poor's cut the long-term outlook on US debt to negative. The result was lots of red on the screens. Indices went sharply lower in the morning, together with the euro and crude oil. Silver and gold however stood their ground. In the afternoon, stocks managed to cut some of the losses, but indices ended the day sharply lower.
Swingtrades
Today's action didn't help one bit and I got stopped out of most positions (SPY-calls, CT, AVL, OME) and closed the other 2 (SABA & GGC). Later in the day I opened trades in BIDU, SOHU and NTES, 3 stocks that held strong during the day.
I bought some SMH-puts in case we go lower. Nasdaq found support on the 100MA, but the semi's look very weak and might be rolling over.
Daytrades
CRUS-support buy didn't work and neither did the SCCO-short (probably too extended). I closed both trades for minor gains.
CLR was in the HCPG-newsletter as a support buy on the 100MA. I got in @63.40 with a stop 2 cents under the low. I got stopped out by 1 or 2 cents and didn't had the faith to re-enter. Too bad, cause the stock closed near 65...
Today's action was very discouraging. I need a couple of decent wins, the last week-and-a-half I lost about half the gains I made in the 4 weeks before. I feel like I'm totally out of sync with the market, (almost) nothing seems to work. I trade smaller size here, but my confidence needs a boost...
Swingtrades
Today's action didn't help one bit and I got stopped out of most positions (SPY-calls, CT, AVL, OME) and closed the other 2 (SABA & GGC). Later in the day I opened trades in BIDU, SOHU and NTES, 3 stocks that held strong during the day.
I bought some SMH-puts in case we go lower. Nasdaq found support on the 100MA, but the semi's look very weak and might be rolling over.
Daytrades
CRUS-support buy didn't work and neither did the SCCO-short (probably too extended). I closed both trades for minor gains.
CLR was in the HCPG-newsletter as a support buy on the 100MA. I got in @63.40 with a stop 2 cents under the low. I got stopped out by 1 or 2 cents and didn't had the faith to re-enter. Too bad, cause the stock closed near 65...
Today's action was very discouraging. I need a couple of decent wins, the last week-and-a-half I lost about half the gains I made in the 4 weeks before. I feel like I'm totally out of sync with the market, (almost) nothing seems to work. I trade smaller size here, but my confidence needs a boost...
Trades from Thursday and Friday
I didn't find the time to post my trades of the last two trading days, so here is a summary.
Thursday: I got stopped out of one swingtrade, PTIE for a 3.74% loss. The IWM-swing didn't work out either, it gapped down big and I sold pre-market. The call was my insurance, which I both back cheap. It turned out I bougth IWM a day too soon.
I overtraded on my daytrades, SINA and BIDU both started well, but only went up little and reversed to stop me out. Same thing later in the day with EP and OVTI. Only one winner, DNDN. In hindsight, it was all in the volume.
Friday: I tried trades in URBN, RIG and OLN. They ended up as a loser and two breakevens. I bought WTW right at the open (nice breakout of a bullflag) which was a nice winner.
I also bought SPY-calls (May-expiration), expecting more upside next week.
Other swing-longs I got involved in on Friday: CT, OME, AVL and GGC. The SABA-trade is doing well so far.
Thursday: I got stopped out of one swingtrade, PTIE for a 3.74% loss. The IWM-swing didn't work out either, it gapped down big and I sold pre-market. The call was my insurance, which I both back cheap. It turned out I bougth IWM a day too soon.
I overtraded on my daytrades, SINA and BIDU both started well, but only went up little and reversed to stop me out. Same thing later in the day with EP and OVTI. Only one winner, DNDN. In hindsight, it was all in the volume.
Friday: I tried trades in URBN, RIG and OLN. They ended up as a loser and two breakevens. I bought WTW right at the open (nice breakout of a bullflag) which was a nice winner.
I also bought SPY-calls (May-expiration), expecting more upside next week.
Other swing-longs I got involved in on Friday: CT, OME, AVL and GGC. The SABA-trade is doing well so far.
Monday, April 11, 2011
More downside
Markets are rolling over, the question now is, how far down will they go? Some major moving averages (20MA & 50MA) are right below us and may act as support.
Gold sold off, but not as hard as crude oil and silver. Oil lost +3% and silver 1.3%. A logical dip since all were significantly overbought.
Swingtrades
I closed my remaining swingtrades, those of today for breakeven. I also entered a trade in LO, ment as a swingtrade, on the break of the bullflag. But when the market started turning, I sold near breakeven, no need to fight the tape, we're probably going lower tomorrow, or stay in chopmode...
I bought May SPY 128-puts and will probably sell these tomorrow if markets keep heading south.
Daytrades
My first daytrade was in RIG, but my entry was bad. I was watching the 2m-chart (depicted below). But I should have checked with the 5m (and 15m as well). On the 5m-chart, the 9EMA was still far below price plus, R2-pivot was just above. Basing above a pivot would be more positive than basing under. In other words, this entry was far from good.
CAM was mentioned in the HCPG-newsletter as a support-trade. 54 was the number to look out for, which was the 100MA.
Price didn't bounce hard, maybe because the stock rather travelled lower along it's moving averages, instead of falling down on volume. Still, it was good enough for small gains although I hoped for more. Oh well, it will pay for another month of their newsletters!
Gold sold off, but not as hard as crude oil and silver. Oil lost +3% and silver 1.3%. A logical dip since all were significantly overbought.
Swingtrades
I closed my remaining swingtrades, those of today for breakeven. I also entered a trade in LO, ment as a swingtrade, on the break of the bullflag. But when the market started turning, I sold near breakeven, no need to fight the tape, we're probably going lower tomorrow, or stay in chopmode...
I bought May SPY 128-puts and will probably sell these tomorrow if markets keep heading south.
Daytrades
My first daytrade was in RIG, but my entry was bad. I was watching the 2m-chart (depicted below). But I should have checked with the 5m (and 15m as well). On the 5m-chart, the 9EMA was still far below price plus, R2-pivot was just above. Basing above a pivot would be more positive than basing under. In other words, this entry was far from good.
My entry in REE on the other hand, was very good, right after the hammer above 9EMA and R1 (although I missed an excellent opportunity at the open - see circle). I sold partial after the big volume spike up, the rest at breakeven. My SL was just above the 9EMA instead of below, again because I was paying more attention to the 2m-chart than the 5m. Let's not make a habit of that. By the way, my first target was 15.90...
The market rolled over intraday and I chose to go long TZA after a small pullback. Immediately, a spike up followed and I took partial gains. This time, I kept my stop under the 20EMA on the 5m-chart, but I got stopped out anyway. Of course, little after that, TZA went higher when the market tanked again.
CAM was mentioned in the HCPG-newsletter as a support-trade. 54 was the number to look out for, which was the 100MA.
Price didn't bounce hard, maybe because the stock rather travelled lower along it's moving averages, instead of falling down on volume. Still, it was good enough for small gains although I hoped for more. Oh well, it will pay for another month of their newsletters!
Subscribe to:
Posts (Atom)