Monday, September 15, 2008

I turned on the comments

Sorry, I had to turn off the comments this afternoon.
I couldnt keep up with you while trading, it was a very chaotic session. Chatting here while being very busy caused misunderstandings and extra work load.

Comment function is back.

9 comments by xTrenders :

IC said...

Thank you Sol. If you have the time I am curious why you exited the positions given Atillas previous statements. What were you following?

PCP said...

Hey Sol,

I will try to keep the questions to afterhours from now on.

Ted spread blew out today.
http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND

We look to be in the fourth inning of the credit crisis. This could turn into a weekly thing with so many non-financial companies with hidden exposure to credit instruments.

I will re-iterate the question I tried to ask earlier. What was the reason for doubling down on the SPY put position. You posted that the usual indicators of bottom formation and trend reversal won't work this time. I assume you are implying that a more serious imbalance needs to exist before a turn around happens.

Thanks for answering the questions.

IC said...

Also, Sol if you can, please include your stop loss when you post your trade; that way maybe I can see what you are following. Thank you again.

admin said...

Thank you Sol. If you have the time I am curious why you exited the positions given Atillas previous statements. What were you following?

Monday, September 15, 2008 5:11:00 PM EDT

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Because I am a short term trader.

admin said...

Hey Sol,

I will try to keep the questions to afterhours from now on.

Ted spread blew out today.
http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND

We look to be in the fourth inning of the credit crisis. This could turn into a weekly thing with so many non-financial companies with hidden exposure to credit instruments.

I will re-iterate the question I tried to ask earlier. What was the reason for doubling down on the SPY put position. You posted that the usual indicators of bottom formation and trend reversal won't work this time. I assume you are implying that a more serious imbalance needs to exist before a turn around happens.

Thanks for answering the questions.

Monday, September 15, 2008 5:25:00 PM EDT
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Atilla was positive about a selling climax today. We traded such days many times before. I got out little earlier than his daily target because of my margin.

He is still bearish. He said SP 1160 is next tomorrow.

IC said...

Lets see if I understand your strategy. If the market gaps up tomorrow you will wait for the breakdown, cover your esz8 long and short. If the market gaps down at the open tomorrow you will hold the short and add to it at the bottom; assuming you don't cover before of course. Am I correct, or missing something?

admin said...

tomorrow is fed day, it will gap up

admin said...

or if it doesnt gap up, that is better, there will be a straight rally to 1220

IC said...

Scary futures actions tonight. Are you still holding your long?