Click on chart for comments on the ES market trade.Good Trades,
David AKA Tiger
Wednesday, October 15, 2008
Wednesday Day Trading: ES Short Trades $2250 for the Day on 2 Contracts
Click on chart for comments on the ES market trade.Good Trades,
David AKA Tiger
Wednesday Day Trading: ES Short Trade $600 per 2 C's
Click on chart for comments on the ES Market Trade.Good Trades,
David AKA Tiger
Wednesday Day Trading: ZB Long Trade $500 per 2 C's
Click on chart for comments on the ZB Long Trade.Good Trades,
David AKA Tiger
Tuesday, October 14, 2008
Video of the Week: Happy Trails by Van Halen
To that special person out there, you know who you are. :-)
Good Trades and Happy Trails,
David AKA Tiger
Tuesday Day Trading: ES Spike Reversal Short Trade
Click on chart for comments on the ES Market trade.Entry at 9:45AM, entry price 1038.25
1/2 Exit at 1032.25 = $300
2/2 Exit at 1019.50 = $937.50 (Close Gap)
Total for every 2 contracts = $1,237.50
This trade went for the GAP. The high of the market from yesterday was 1017.50. I placed a longer term target of 1019.50, which was hit quickly this morning. I am still trading 6 point profit target and a 4 point stop loss on my bracket order when I got into the market.
My thought process was to trade what the market is showing. This morning it was pretty obvious that the market wanted to try to go to the GAP. I reduced my contract size today, and only took on 2 contract size for this trade.
This turned out to be a decent trade. On a side note, my ZB market data is off today, but my ES data is not. I will not be trading any more today based on my gain this morning.
Good Trades,
David AKA Tiger
Monday, October 13, 2008
Monday Day Trading: $4675 ES SR Trendfade Long Trade on 3 Contracts
Click on chart for comments on the ES Spike Reversal Long trade.
Entry at 2:45PM at 961.25
1/3 Exit at 971.25 = $300
2/3 Exit at 1005 = $1987.50 (ADR Target)
3/3 Exit at 1013 = $2387.50 (4PM Time Stop Exit or Greenline)
Last contract did not run into the Greenline, therefore, I cleared out the last series of contracts at 4PM Eastern time at 1013.
For every 2 contracts traded today this was a gain of $2,287.50, and for every 3 contracts traded today this was a gain of $4,675.00. What a wonderful comeback in the market. I made the decision last night when the market was trading over 30 point in the S&P emini that I would skip the morning opening trades, and look for an opportunity in the afternoon.
My entry came on a spike reversal entry long. This was after the minor pullback, and I then went long the trend and took the trade to targets mentioned above. This trade alone is enough for me to call it a week.
My best advice is to pick your entries and wait for the opportunity to set itself up. If you are patient enough, and self-controlled the market will show it's hand. Today, the market gave a nice signal after 2:30. I was watching the market from 1:30PM Eastern time, and made my entry a little after 2:45PM Eastern time.
Good Trades,
David AKA Tiger
Entry at 2:45PM at 961.25
1/3 Exit at 971.25 = $300
2/3 Exit at 1005 = $1987.50 (ADR Target)
3/3 Exit at 1013 = $2387.50 (4PM Time Stop Exit or Greenline)
Last contract did not run into the Greenline, therefore, I cleared out the last series of contracts at 4PM Eastern time at 1013.
For every 2 contracts traded today this was a gain of $2,287.50, and for every 3 contracts traded today this was a gain of $4,675.00. What a wonderful comeback in the market. I made the decision last night when the market was trading over 30 point in the S&P emini that I would skip the morning opening trades, and look for an opportunity in the afternoon.
My entry came on a spike reversal entry long. This was after the minor pullback, and I then went long the trend and took the trade to targets mentioned above. This trade alone is enough for me to call it a week.
My best advice is to pick your entries and wait for the opportunity to set itself up. If you are patient enough, and self-controlled the market will show it's hand. Today, the market gave a nice signal after 2:30. I was watching the market from 1:30PM Eastern time, and made my entry a little after 2:45PM Eastern time.
Good Trades,
David AKA Tiger
Friday, October 10, 2008
Another Video of the Week: One by Metallica
When will the market make a bottom? We are down 50% from the highs of last year ... in one year ... this is beyond ugly now. People are talking about buying opportunities, but all I see is RED on my screen ... even GOLD is down today.
I thought about another video I like when things are going to the crapper called, "Break Stuff," but we are past that point now. Although, I have made money shorting this market down, I would much rather be buying it on the way up. Or at least a more organized market!
The good news, if any, is that we are in the last wave of selling, in my humble opinion. Things will have to settle down at some point, and we will have a vicious Bear Market rally. Keep the powder dry for the weekend, and remember to "TRADE what You SEE Not WHAT You THINK!"
Good Trades,
David AKA Tiger
Thursday, October 9, 2008
Thursday Day Trading: ZB Short Trade $500 on 2 C's.
Click on chart for comments on ZB Market trade. This trade was put on the blog for those that asked to see it. Here you go.Good Trades,
David AKA Tiger
Thursday Day Trading: ES Short Trade $2250 on 2 Contracts
Click on chart for comments on the ES Market trade.
This trade was worth $2,250.00 on every 2 contracts traded.
Entry at 960.50
1/2 Exit at 954.50 = $300
2/2 Exit at 921.50 = $1950
Total on 2 contracts = $2,250.00
Round and round we go, where we stop who knows? This by far has been the best week ever to be a day trader for me. I have never seen the markets move the way they are moving and allowing so much money to be made. This is simply incredible, amazing, and scary all at the same time.
I suppose having a system or trading method that I am confident on is my only sanity that I have ... "Trade What You See, Not What You Think."
Good Trades,
David AKA Tiger
Wednesday, October 8, 2008
S&P 500 Posts Sixth Consecutive Loss
16:20 ET
S&P 500 Posts Sixth Consecutive Loss
Dow -189.01 at 9258.10, Nasdaq -14.55 at 1740.33, S&P -11.29 at 984.94
[BRIEFING.COM] Stocks traded in an extremely volatile manner on Wednesday as investors digested a coordinated global interest rate cut, economic concerns and turmoil in the financial markets.
The S&P 500 settled with a loss of 1.1% after a surge in selling interest in the final half-hour of trade sank stocks from a 2% gain. The S&P 500 traded as high as 2.5% and down as much as 2.5%. Eight of the ten economic sectors posted a loss in heavy trading volume.
The Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Bank of Canada, and Sveriges Riksbank (Sweden) made an emergency intermeeting coordinated 50 basis point rate cut. Increased economic risks and moderating inflation pressures warranted the move in an effort to improve liquidity and reduce strains in the financial market, the Fed said. The fed funds rate is now at 1.50%, and the discount rate is at 1.75%.
The move to cut interest rates came as global equities tumbled due to tight credit markets and economic worries. Japan's Nikkei plummeted 9.4% and Hong Kong's Hang Seng dropped 8.2%. Europe fell 6.0% as its financial institutions remain troubled -- Britain announced a plan to bailout its banking system, which included a pledge for $87 billion in direct support for eight major banks, according to reports.
In corporate news, Bank of America (BAC 21.97, -1.80) fell 7.6% after its $10 billion common stock offering was priced at a 7.5% discount to yesterday's closing level and a 31.7% discount to BofA's closing level on Monday. BofA plunged more than 25% on Tuesday after announcing disappointing third quarter earnings, giving a dour outlook, cutting its dividend by 50% and announcing the $10 billion common stock offering.
The financial sector (-3.0%) ended the session as a laggard after giving up a 3.9% gain in late-session selling pressure as investors were aware that the SEC short-selling ban is scheduled to expire at midnight tonight.
Dow component Alcoa (AA 14.60, -2.11) marked the start of the third quarter earnings season on a negative note after the aluminum maker's results fell well short of expectations. Third quarter earnings per share dropped 40% year-over-year due to falling aluminum prices, softening demand and higher costs.
Despite the weakness in Alcoa, the material sector outperformed with a gain of 2.6%. Agriculture chemical company Monsanto (MON 81.63, +7.45) pleased investors with its quarterly earnings report.
Several retailers reported a decline in September same-store sales and cut their third quarter earnings outlook. Wal-Mart (WMT 54.57, -0.27) and Costco (COST 56.89, -0.91) both posted solid growth, however, benefiting from bargain-hunting consumers.
In commodity trading, oil prices saw large swings, moving largely in tandem with stocks, as traders speculated how the global economic turmoil will impact demand. The government's weekly energy inventory data showed larger-than-expected increases in crude and gasoline stockpiles. Oil prices fell 1.6% to $88.64 per barrel.
Despite the economic turmoil and uncertainty, Treasuries came under selling pressure after the government sold additional debt to meet high investor demand, according to reports. The 10-year note dropped 46 ticks to send its yield up to 3.67%.
The S&P 500 has posted six consecutive losses -- the longest losing streak since 2002.
..Nasdaq 100 +0.1%. ..S&P Midcap 400 -1.2%. ..Russell 2000 -2.2%.
S&P 500 Posts Sixth Consecutive Loss
Dow -189.01 at 9258.10, Nasdaq -14.55 at 1740.33, S&P -11.29 at 984.94
[BRIEFING.COM] Stocks traded in an extremely volatile manner on Wednesday as investors digested a coordinated global interest rate cut, economic concerns and turmoil in the financial markets.
The S&P 500 settled with a loss of 1.1% after a surge in selling interest in the final half-hour of trade sank stocks from a 2% gain. The S&P 500 traded as high as 2.5% and down as much as 2.5%. Eight of the ten economic sectors posted a loss in heavy trading volume.
The Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Bank of Canada, and Sveriges Riksbank (Sweden) made an emergency intermeeting coordinated 50 basis point rate cut. Increased economic risks and moderating inflation pressures warranted the move in an effort to improve liquidity and reduce strains in the financial market, the Fed said. The fed funds rate is now at 1.50%, and the discount rate is at 1.75%.
The move to cut interest rates came as global equities tumbled due to tight credit markets and economic worries. Japan's Nikkei plummeted 9.4% and Hong Kong's Hang Seng dropped 8.2%. Europe fell 6.0% as its financial institutions remain troubled -- Britain announced a plan to bailout its banking system, which included a pledge for $87 billion in direct support for eight major banks, according to reports.
In corporate news, Bank of America (BAC 21.97, -1.80) fell 7.6% after its $10 billion common stock offering was priced at a 7.5% discount to yesterday's closing level and a 31.7% discount to BofA's closing level on Monday. BofA plunged more than 25% on Tuesday after announcing disappointing third quarter earnings, giving a dour outlook, cutting its dividend by 50% and announcing the $10 billion common stock offering.
The financial sector (-3.0%) ended the session as a laggard after giving up a 3.9% gain in late-session selling pressure as investors were aware that the SEC short-selling ban is scheduled to expire at midnight tonight.
Dow component Alcoa (AA 14.60, -2.11) marked the start of the third quarter earnings season on a negative note after the aluminum maker's results fell well short of expectations. Third quarter earnings per share dropped 40% year-over-year due to falling aluminum prices, softening demand and higher costs.
Despite the weakness in Alcoa, the material sector outperformed with a gain of 2.6%. Agriculture chemical company Monsanto (MON 81.63, +7.45) pleased investors with its quarterly earnings report.
Several retailers reported a decline in September same-store sales and cut their third quarter earnings outlook. Wal-Mart (WMT 54.57, -0.27) and Costco (COST 56.89, -0.91) both posted solid growth, however, benefiting from bargain-hunting consumers.
In commodity trading, oil prices saw large swings, moving largely in tandem with stocks, as traders speculated how the global economic turmoil will impact demand. The government's weekly energy inventory data showed larger-than-expected increases in crude and gasoline stockpiles. Oil prices fell 1.6% to $88.64 per barrel.
Despite the economic turmoil and uncertainty, Treasuries came under selling pressure after the government sold additional debt to meet high investor demand, according to reports. The 10-year note dropped 46 ticks to send its yield up to 3.67%.
The S&P 500 has posted six consecutive losses -- the longest losing streak since 2002.
..Nasdaq 100 +0.1%. ..S&P Midcap 400 -1.2%. ..Russell 2000 -2.2%.
Wednesday Day Trading: ES Spike Reversal Long Trade $3650 on 3 Contracts
Click on chart for comments on the ES Market Trade. This trade hit it out of the ballpark today, and was advised on to my list on how I was handling this trade.I showed how I handled 2 contracts, and how I was handling a series of 3 contracts in the market today. In any case, 2 contracts made $2450, and 3 contracts made $3650.
My combined trading on ES and ZB today was worth $5,306.25.
I was debating on getting back into a long position on the ES today, but time stop hit, and the market decided to sell off, so I stood aside, as I was not going to participate on any shorts today.
To receive my live trade updates, simply fill out the form on the right. I promise not to sell or spam you with crap you don't need, and neither do I! :-) I have been debating personally how best to help you as a trader or an inspiring trader. Just so you know, I am open to suggestions, please send them to:
TradeCraze@gmail.com
Good Trades,
David AKA Tiger
Wednesday Day Trading: ZB Short Trades $1656.25 on 2 Contracts
Click on chart for comments on ZB Market Trade.There are 2 trades today in the bonds. I will be adding the ES Trade today next.
Good Trades,
David AKA Tiger
Tuesday, October 7, 2008
S&P Plunges Below 1000
16:20 ET
S&P 500 Plunges Below 1000
Dow -508.39 at 9447.11, Nasdaq -108.08 at 1754.88, S&P -60.66 at 996.23
[BRIEFING.COM] Tuesday marked another ugly session for stock investors as a weak outlook from Bank of America (BAC 23.77, -8.45) and cautious comments from Fed Chairman Ben Bernanke overshadowed a Federal Reserve plan to improve liquidity in short-term corporate borrowing.
Stocks rose 1.5% at the open on the Fed's plan to shore up short-term corporate borrowing, but overall economic concerns quickly sank stocks. In the end, the S&P 500 plunged 5.7%, settling at its worst levels, to a new five-year low in broad-based weakness. All ten economic sectors posted a loss, with notable declines in financials (-11.5%), tech (-6.1%) and consumer discretionary (-5.7%).
Fed Chairman Bernanke gave the market little to cheer about in a speech at the National Association for Business Economics annual meeting. He said that economic activity is likely to be subdued through this year and into 2009 and increases in financial market turmoil may extend the period of weak economic performance.
He did leave the door open for a FOMC rate cut on Oct. 29, although fed funds futures had already priced in a cut of at least 50 basis points.
Bank of America, the second largest U.S. financial firm by market cap after JPMorgan Chase (JPM 39.86, -4.14), fell 26% after preannouncing disappointing third quarter earnings and giving a dour outlook regarding the state of the economy. In an attempt to shore up capital in the face of current economic conditions, BofA is cutting its quarterly dividend by 50% to $0.32 and plans to raise $10 billion in a common stock offering.
CNBC reported the common stock offering was likely to be priced at less than $25 per share. The notion that BofA would have to sell stock at a more than 22% discount added to overall investor unease, especially in the financial sector.
The commercial paper market, which many U.S. companies rely on for short-term borrowing, has been under pressure as investors flocked to the safety of Treasuries and away from money market funds. As a result, many companies found it difficult to issue commercial paper, or had to pay a high cost.
In an attempt to bring down the cost of commercial paper costs and improve liquidity, the Fed announced this morning that it created a Commercial Paper Funding Facility, which will provide a liquidity backstop for the strained commercial paper market. The Fed will purchase three-month unsecured and asset-backed commercial paper from eligible issuers. The Fed said it has no limit to how much commercial paper it can buy.
Separately, commodities (+1.0%) staged a modest recovery effort from Monday's 5.0% drop, aided by a 0.8% decline in the dollar. Crude prices rose 2.3% to $89.80 per barrel.
The S&P 500's loss marked its fifth consecutive decline -- its longest losing streak since January. The index has fallen 14.5% over the past five sessions and is down 32.2% this year.
..Nasdaq 100 -5.8%. ..S&P Midcap 400 -5.4%. ..Russell 2000 -6.2%.
S&P 500 Plunges Below 1000
Dow -508.39 at 9447.11, Nasdaq -108.08 at 1754.88, S&P -60.66 at 996.23
[BRIEFING.COM] Tuesday marked another ugly session for stock investors as a weak outlook from Bank of America (BAC 23.77, -8.45) and cautious comments from Fed Chairman Ben Bernanke overshadowed a Federal Reserve plan to improve liquidity in short-term corporate borrowing.
Stocks rose 1.5% at the open on the Fed's plan to shore up short-term corporate borrowing, but overall economic concerns quickly sank stocks. In the end, the S&P 500 plunged 5.7%, settling at its worst levels, to a new five-year low in broad-based weakness. All ten economic sectors posted a loss, with notable declines in financials (-11.5%), tech (-6.1%) and consumer discretionary (-5.7%).
Fed Chairman Bernanke gave the market little to cheer about in a speech at the National Association for Business Economics annual meeting. He said that economic activity is likely to be subdued through this year and into 2009 and increases in financial market turmoil may extend the period of weak economic performance.
He did leave the door open for a FOMC rate cut on Oct. 29, although fed funds futures had already priced in a cut of at least 50 basis points.
Bank of America, the second largest U.S. financial firm by market cap after JPMorgan Chase (JPM 39.86, -4.14), fell 26% after preannouncing disappointing third quarter earnings and giving a dour outlook regarding the state of the economy. In an attempt to shore up capital in the face of current economic conditions, BofA is cutting its quarterly dividend by 50% to $0.32 and plans to raise $10 billion in a common stock offering.
CNBC reported the common stock offering was likely to be priced at less than $25 per share. The notion that BofA would have to sell stock at a more than 22% discount added to overall investor unease, especially in the financial sector.
The commercial paper market, which many U.S. companies rely on for short-term borrowing, has been under pressure as investors flocked to the safety of Treasuries and away from money market funds. As a result, many companies found it difficult to issue commercial paper, or had to pay a high cost.
In an attempt to bring down the cost of commercial paper costs and improve liquidity, the Fed announced this morning that it created a Commercial Paper Funding Facility, which will provide a liquidity backstop for the strained commercial paper market. The Fed will purchase three-month unsecured and asset-backed commercial paper from eligible issuers. The Fed said it has no limit to how much commercial paper it can buy.
Separately, commodities (+1.0%) staged a modest recovery effort from Monday's 5.0% drop, aided by a 0.8% decline in the dollar. Crude prices rose 2.3% to $89.80 per barrel.
The S&P 500's loss marked its fifth consecutive decline -- its longest losing streak since January. The index has fallen 14.5% over the past five sessions and is down 32.2% this year.
..Nasdaq 100 -5.8%. ..S&P Midcap 400 -5.4%. ..Russell 2000 -6.2%.
October 2008: Book of the Month
This is a book that I am highly enjoying reading right now. Like the classic, "Market Wizards," this book takes you on a journey of interviews with successful traders from all walks of life, but a lot of these traders are self-made.
I highly recommnend that you add this book to your collection. I have placed a link here for easy access over at amazon.com.
Good Trades,
David AKA Tiger
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