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      07-13-2012, 09:08 PM   #1079
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Did you recoupe with your BAC options after today? Yeah, I took a hit on UVXY so it took out my gains from Thursday.
They were puts, so it took out my months profit today.. cant win them all, not to worried though I know I can make it all back!
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      07-14-2012, 03:55 AM   #1080
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Sorry I've been so quiet guys. Been studying for the CFA all day and everyday. I'm out of everything right now.
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      07-14-2012, 03:37 PM   #1081
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Sorry I've been so quiet guys. Been studying for the CFA all day and everyday. I'm out of everything right now.
Keep it up!


And Sam, that's the spirit!
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      07-14-2012, 04:11 PM   #1082
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Sorry I've been so quiet guys. Been studying for the CFA all day and everyday. I'm out of everything right now.
Wish you the best of luck!
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      07-15-2012, 08:08 AM   #1083
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Will be interesting to see what next week brings us. I reckon BAC should be good coming into earnings.
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      07-16-2012, 12:48 AM   #1084
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I think we are going to be in for a nasty week, If you take a look at the hourly chart for DJI and SPX you will find that MACD is forming a down trend (still). Also, stochastic are about to cross which could bring a strong momentum shift in the market. RSI is also approaching but not reaching overbought levels. Not only that but as you can see below we are approaching 1358 which is a resistance level. On friday, we actually touched 1358 than retracted a bit closing at 1357.

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What is making things uncertain for me is EUR/USD...

As you can see on the chart below, stochastic is in oversold levels. We are also sitting right above the 20MA on the hourly chart which is acting as support. On the 5-min chart we are currently sitting EXACTLY on the 50MA (should be interesting to see how things play out overnight). MACD is pointing lower, so I am assuming we should see the Euro Vs. the USD sitting in oversold levels for quite a bit.

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Not sure if any of you are subscribed to Barrons, but in this weeks issue on page 53 you can see the CBOE Put/Call Ratio. The ratio is approaching the 30:100 level which is a bearish signal. Also, the put/call ratio for the SPX 100 is approaching 70:100 which is very close to the bearish 75:100.

What are you guys looking at in this murky market?

EDIT** EUR/USD just broke the 50MA I mentioned earlier on the 5 min chart and fell quite quickly, meaning tomorrow should be a DOWN day.
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      07-16-2012, 04:14 AM   #1085
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I agree. I smell poop today. Monday could be ugly.
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      07-16-2012, 10:18 AM   #1086
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right after my post EUR/USD hit two year lows than bounced back
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      07-16-2012, 02:46 PM   #1087
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Not sure what is going to happen with the indices, but tomorrow is VIX rollovers for Futures so I'm in XIV to capture that free premium. We are at 17ish region in VIX, so going long UVXY ATM before a rollover is a bit suicidal.
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      07-16-2012, 03:16 PM   #1088
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Quote:
Originally Posted by Vanity
Not sure what is going to happen with the indices, but tomorrow is VIX rollovers for Futures so I'm in XIV to capture that free premium. We are at 17ish region in VIX, so going long UVXY ATM before a rollover is a bit suicidal.
I got rid of my puts today, currently not trading anything but looking.
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      07-16-2012, 11:33 PM   #1089
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I got rid of my puts today, currently not trading anything but looking.
Sounds good Sam
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      07-17-2012, 06:10 PM   #1090
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Btw what trading platform are you guys using? Currently, I'm running etrade but thinking of making a switch to tradestation
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      07-18-2012, 12:41 PM   #1091
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Any of you guys have an opinion on where oil is going? I feel $90 is resistance, If it breaks past it might run back up to $100, but I don't see why it would unless something worse happens in Syria or Iran
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      07-18-2012, 07:07 PM   #1092
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      07-18-2012, 08:49 PM   #1093
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USD index fell through it's support at 83 what do you guys think small rally coming in the next two days?
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      07-18-2012, 08:50 PM   #1094
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Quote:
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Any of you guys have an opinion on where oil is going? I feel $90 is resistance, If it breaks past it might run back up to $100, but I don't see why it would unless something worse happens in Syria or Iran
Are you trading futures or something equivalent of USO?
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      07-19-2012, 11:46 AM   #1095
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Are you trading futures or something equivalent of USO?
No, still learning with commodities so it's just in a practice account. Trying to see if I can ever figure it out or not. Judging by what I thought would happen today, still have a lot to learn lol
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      07-19-2012, 03:24 PM   #1096
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USD index fell through it's support at 83 what do you guys think small rally coming in the next two days?
When USD broke 83 last week it didn't look as strong as it should have. Correcting down now, this should give a bit of a boost to markets but USD has some solid support coming up being in the 81-82 region.

These days I'm just day trading in and out for a couple thousands here and there, it adds up for the whole month. I'm just waiting for more strong technicals to scream buy or scream sell. Just going to hop in and out with tight stop losses to capitalize those premiums instead of losing anything. Sam what do you normally trade? I'm a volatility VIX-orientated trader. If you're looking into this stuff we can discuss more on PM and I can give you some headers.
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      07-19-2012, 05:59 PM   #1097
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Quote:
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Quote:
Originally Posted by Hisam135i View Post
USD index fell through it's support at 83 what do you guys think small rally coming in the next two days?
When USD broke 83 last week it didn't look as strong as it should have. Correcting down now, this should give a bit of a boost to markets but USD has some solid support coming up being in the 81-82 region.

These days I'm just day trading in and out for a couple thousands here and there, it adds up for the whole month. I'm just waiting for more strong technicals to scream buy or scream sell. Just going to hop in and out with tight stop losses to capitalize those premiums instead of losing anything. Sam what do you normally trade? I'm a volatility VIX-orientated trader. If you're looking into this stuff we can discuss more on PM and I can give you some headers.
Sounds good, I mostly trade the financial sectors using options. After my last loss, I'm going back to my old strategy, which has always worked for me flawlessly. I just wait for a good technical setup on 1,5, and 15min chart, than buy approx. 200 contracts, put or call, make 4-5 cents on my option and get out. Results in a 600-800 profit a day including commissions. Honestly IMO day trading is the way to go in this market, to unpredictable right now for more than one day trades. I've been really interested in the VIX market, but dont really know enough about that sector.

The vix market is defiantly a very profitable sector If mastered. But, I feel it will decapitate someone not following it for long enough (me).
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      07-23-2012, 03:38 AM   #1098
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Toilet flushing.

I bought UVXY at the Friday close at $7.25. Very happy ATM.
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      07-23-2012, 09:53 AM   #1099
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Toilet flushing.

I bought UVXY at the Friday close at $7.25. Very happy ATM.
very nice! I just finished up my morning trade! Actually made my money off of a call on Citi lol made my 5 cents on my option and got out would have been nice to get a 14%+ return like some people here
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      07-23-2012, 10:04 AM   #1100
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very nice! I just finished up my morning trade! Actually made my money off of a call on Citi lol made my 5 cents on my option and got out would have been nice to get a 14%+ return like some people here
Actually, I sold at 8.60 so it was closer to 20%

Waiting ATM to see if it's worth another re-entry for the week. My take is that if it's going to be a bloodbath, we're going to have to see some big moves downward. Now, all over the world we have that, but the current dip-rally is coming up on very very low volume. Friday we saw some huge volume, so I suspect that's the institutional and commercial players already getting out. Something tells me the low volume today is just a small reprieve before more bigger down days. Hrm.

On Friday the VIX futures spread had hit a 3.00 difference and the 25% spike today in spot vix brought the spread down to as low as 0.65! The closest we have been to getting towards a hint of crisis like last year.

Update: currently day trading this baby till I'm resolute on a position at the close. But I just purchased it at 8.20 and it's 8.30 ATM. Might sell at a whim.
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