Tuesday, September 30, 2008

still short ES

50% from 1150
50% from 1217

I had taken 100 points profit on 50% position yesterday, which gives me a better flexibility on this intermediate term trade.

1190 is the maximum the current move can advance but I do not think it will

16 comments by xTrenders :

Atilla M. Demiray said...

I just read the comments to my previous post.

People should relax, when I close a position for which I gave my entry for, I will post it realtime here.

Otherwise you should consider it as a open position even tho I can not answer your questions. I may be busy any given time during the day.

Really Lost said...

Thanks bud. I started adding new shorts positions at the close. I'll consider 1190+ my clue to get out. Appreciate your posts.

dadoes said...

Would it be possible to post your changes before the market closes?

Thanks!

Atilla M. Demiray said...

If there is a change i will not wait until the close, i post realtime

if there is not change i may not post if i am not at the desk.

Greenie said...

Would it be possible to post your cell phone number here, so that we can keep calling you to check whether you closed your positions? While at it, please also post Sol's as well as his mom's numbers :).

dadoes said...

yes a direct line to you would be the best. :-)

Not everybody is a super duper trader like you greenie. Some of us need some guidance.

I've noticed from your blog, you seem to base your market direction calls on what atilla says. So its not like you aren't following him either.

Greenie said...

I am not a super-duper trader, and of course, I follow him. It will be stupid not to listen to the master, isn't it?

dadoes said...

Greenie,

I know you're just joking around.

Anyways, I think your expertise is in the fundamentals and you called this mess pretty much dead on.

And yes, Atilla is the master. I hope he doesn't get pissed off at us and keeps this blog open.

Yes I'm kissing his butt. :-)

meco1999 said...

Atilla,

Where do you see the SPX eventually bottoming in this bear market?

And when do you think the bottom will be? Early '09? Late '09?

Tough question, I know, but I'd like your opinion.

Atilla M. Demiray said...

this leg minimum 1060

geosing said...

Atilla, do you adjust the 'hard stops' as the action evolves? e.g. I read you had hard stop at 1156. What factors cause you to move or cancel stops?

Atilla M. Demiray said...

It was for the day when vix was neat 50 and several trend lines were in force

As conditions change, I change my stop

But there is big hard line somewhere around 1190

Once that is taken, it means something is different with this rally

Atilla M. Demiray said...

neat=near

Susannah said...

I'm not a regular on TT, so I thought I'd post this here in case some of you who are respected there can get the ball rolling over there on fighting this. It's looking more and more likely that a .25% transaction fee on every buy/sell of on all U.S. stock trades and on other types of trades, such as credit default swaps, options and futures. The first and last page of this thread are probably the most relevant, since the first page introduces the idea and the last page discusses how this is *very* close to happening with the new bailout plan.

http://www.elitetrader.com/vb/showthread.php?threadid=138316

Maybe some of you geniuses can help us figure out an effective way to fight this, but time is running out unfortunately :(

Sorry to be kind of off topic, I just think it's important for every trader.

Atilla M. Demiray said...

Susannah,
I permanently left TT some time ago,
maybe dcengr can post it there. he still posts on TT

Susannah said...

That would be great if dcengr could if there's not already a ball rolling over there. It's gaining steam since Defazio (Congressman who originally proposed it) is getting as much presstime as he can to explain it as the "no bailouts" bill where the taxpayer is off the hook for the money. Even if it doesn't get passed through right now, it looks like Obama might want to look into it toward the beginning of his presidency if that happens.