Wednesday, November 12, 2008

long ES @ 880

Accumulated large position around 880 for a swing trade (target 1050+)

73 comments by xTrenders :

Mr. L said...

alot?

wandahl said...

A. whats the position % ?

thanks,

Trading Signs said...

Ati,

Please correct your trade on Twitter. It shows ur long ES at 980.

Good looks.

johnboy - Moderator said...

Still watching 4 my entry. Best of luck all.

Salvador said...

big ? small ? medium position ?

Gallo said...

I smell little confidence with this trade among the group. I STILL think we need to at least kiss the lows of Oct.10. I'm checking volume here. Anyone hear what Cashin said before the open? Just curious.

katzo7 said...

10:05 am Johnboy
if i miss it, i miss it.

Mr_Lahey said...

I'm gonna sit on my hands for a while.

Ajay said...

daytrade? To sell as we test 910?

Atilla M. Demiray said...

massive

Mr. L said...

googs green, u know it!

Mr_Lahey said...

And, hey, I thought he wasn't even playing the ES in the next move? Hmmm....

Atilla M. Demiray said...

ES appeared to be stronger

Like I said before I trade what I see, not what I think

in the mountains said...

Here's a post Atilla made yesterday evening...

Atilla M. Demiray said...
if we gap down, we rally to 910 and sell off to 860 and reverse to close the day around 900

IF we gap up, we consolidate little bit, then sell off to 870-875 then reverse to close between 910-920
---------------------

So, we gapped down and if the above is playing out, then we would expect to hit 910 some time today.

Atilla, will you be unloading your position at that point, hoping to buy back in at 860?

ROLLER said...

that was fast ... 875 WAS the low!

geeeez!

buylo said...

did you expect to make the lows all today? market likes to fool around and do something entirely different than what everyone expects

Mr_Lahey said...

OK...I've nibbled at some SPY calls.

katzo7 said...

Paulson speaking in 27 min. bad for market.

dhw said...
This comment has been removed by the author.
Foghat said...

FYI sold both my GM and NT positions shortly before 10AM...overall slight gain....5% or so. Difficult for me to log trades in real time (someone was in my office) so I'll stop now.

Lana said...

Trading signs

I have got to get another data system besides Ameritrade. My vix is not moving. Can you give me a number on the vix? Tia

Winace (Speculator Fader) said...

Long ES @ 880

salvador said...
big ? small ? medium position ?

Wednesday, November 12, 2008 9:49:00 AM EST

atilla m. demiray said...
massive

Wednesday, November 12, 2008 9:52:00 AM EST



Right or wrong, that is just irresponsible......

ROLLER said...

should we have rallied by now?

Darwin said...

Paulson speech going to send the market reeling....lower. GE making multi year low. Many others on the verge. Good luck with your massive trade Atilla.

LearningWizard said...

http://www.marketwatch.com/quotes/vix

VIX RT Quote

Winemaker said...

Still waiting on that 870 area to do a little buying.

Lana said...

learning wizard,

forever grateful. I am grateful for all of you. With some exceptions we try to support each other.

elmo said...

god, hes still here (Winace)

Looks like 870, next stop.

Lostchijd said...

uh oh we're going to 780 now

Atilla M. Demiray said...

Darwin said...

Paulson speech going to send the market reeling....lower. GE making multi year low. Many others on the verge. Good luck with your massive trade Atilla.

Wednesday, November 12, 2008 10:25:00 AM EST

----------

Thank you for the heads up. Getting longer under 880

AZ said...

Scaled in some. %50 for SSO and %25 to DIG from yesterday(now stands at %75).

Will fill the buckets if we go lower or add if we break 917.

It sucks that I don't trade emini. For anyone is trading futures, what your rec's for a good broker firm?

I don't intend to trade a big account(so I won't hurt my nestegg too much:-). What's a optimal account balance for trading emini? I also intend to trade the stocks and etfs as well, so the broker firm can't be just a futures house. Commission cost is important but I tend to trade light(swing trade type, that's why I like AD's style) so as long as it's reasonable, then it's ok.


I heard about TOS(thinkorswim) and IB(interactivebroker?), any other and what your opinions of them.

Thx in advance!

AZ

indusequities said...

Bought SSO @ 26.05 and UYM @ 15.50 ..I think we are bottom.. rally next hour

katzo7 said...

I am getting perhaps a bottom at 10:55 am. Do not base your trades on me though.
Lana, you are great and comments appreciated.

Q said...

Hello everybody,
I've been a long time observer of this blog, but never followed trades.
Thanks alot attila for your insights. Keep up the good work.
I'm also long from 884 stop loss at 858.

Salvador said...

i'll stay out...

EW says we're still have to go through wave V and that either points to 840 or 800 points...

I ain't going long on this one...

Salvador said...

if i miss the opportunity well patience... more opportunities will come

Pala said...

Only suckers are buying into this mess. Atilla himself said this is the time when all the statistics break. You guys will be panic selling at 840.

Darwin said...

Atilla, I may "start to nibble" between 850-860. Not going to press.

Shawn said...

Let me guess ... VIX next resistance at 66. If it breaks above that, next stop 70.

Anyway, I think we are near a bottom. Start scaling in when VIX hit 66 with UYM!!

elmo said...

make that 867-865 for a fake of the 870 level

Eurobear said...

I'm holding off at the moment, it hasn't been in a hurry all this week. I still want to see some volume and at least a strong bounce off resistance. Otherwise its just the same slow bleed from last week

Dcengr said...

Good luck Atilla!

indusequities said...

specialists nicely collect the stocks at wholesale price..

Narayana said...

gggrrrrrrr

dhw said...

descending wedge doesn't look like a descending wedge anymore.

Tigre said...

UYG just reached 52 week low @ 6.97

waiting to pull the trigger...

tamas said...

Next stop: 832

Mr_Lahey said...

Check out V, guys.

Lawrence Chiu said...

NEW POST

LearningWizard said...

lana, you are welcome. Be careful that sometimes that website stops updating RT, and you need to F5 it.

elmo said...

we hit 865, i think we could rally from here.
Long ES @ 867

StockRake said...

UYG probably going to 6.75.

I hope it does not though.

EW people have had the market play out way too easily in their favor lately. Would love to see a roasting.

katzo7 said...

Short sds for short term.

Chuk said...

"atilla m. demiray said...
massive"

Why would you go in massive at one price point? That doesn't allow you to scale in if you are wrong. Not sure I follow your logic.

Shawn said...

I am in UYM $15.25.

1/3 of my capital.

Atilla, please show your magic!!!

Atilla M. Demiray said...

Chuk said...

"atilla m. demiray said...
massive"

Why would you go in massive at one price point? That doesn't allow you to scale in if you are wrong. Not sure I follow your logic.

Wednesday, November 12, 2008 10:46:00 AM EST

---------

It got massive well under 880

Pala said...

The market is broken, people. Stop day dreaming about catching the big bounce. Everyone is still scrambling for cash. Who's gonna buy your dirty stocks when everyone's broke? When unemployment is about to spike to 10%? When Obama is about the socialize the shit out of the USSA? It's over. The only thing to do is hide your money. Buy gold and bury it. Get a gun. Move to New Zealand. We LOSE.

Chuk said...

"It got massive well under 880"

It can't have been too well under since we only went to 868. That just seems way too close to go all in to me. I too think we bounce here, just wondered why you didn't leave more wiggle room.

PCap said...

AZ said...

Scaled in some. %50 for SSO and %25 to DIG from yesterday(now stands at %75).

Will fill the buckets if we go lower or add if we break 917.

It sucks that I don't trade emini. For anyone is trading futures, what your rec's for a good broker firm?

I don't intend to trade a big account(so I won't hurt my nestegg too much:-). What's a optimal account balance for trading emini? I also intend to trade the stocks and etfs as well, so the broker firm can't be just a futures house. Commission cost is important but I tend to trade light(swing trade type, that's why I like AD's style) so as long as it's reasonable, then it's ok.


I heard about TOS(thinkorswim) and IB(interactivebroker?), any other and what your opinions of them.

Thx in advance!

AZ

---------------------------------

I like TOS, start with about 5K, and trade one contract at a time.

PCap said...

Pala said...

The market is broken, people. Stop day dreaming about catching the big bounce. Everyone is still scrambling for cash. Who's gonna buy your dirty stocks when everyone's broke? When unemployment is about to spike to 10%? When Obama is about the socialize the shit out of the USSA? It's over. The only thing to do is hide your money. Buy gold and bury it. Get a gun. Move to New Zealand. We LOSE.

--------------------------

You're funny. So bury the gold where you live, then move to New Zealand? Or do you bring the gold with you and bury it there? What about your gun? Can't just import those willy nilly into Commonwealth countries.

Also, what about when the Asians come and visit because they are running out of land?

Beyond said...

870 is sweet, can't wait until Paulson stops talking. This is going to be great by the end of the day.

Beyond said...

Volume seems kind of light on TNA, spread is pretty wide. Nice fund to look at though at volume picks up.

Vineet said...

Atilla, I fail to see your logic here. In your previous post you said that we might go down to the 860 area, but you still went long at 870. Would you mind sharing with us why the change in plan?

Thanks for all youe help

Vineet said...

I meant long at 880

importer said...
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importer said...
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cranky_banker said...

USD stabilizing down - good sign for equity - Got in BGU @ 37.50 and UYM @ 15.15- - will add DDM at 29, SSO at 25, QLD at 27 - Thinking lowest SP can go in next 2 weeks is 850 (30% chance) - Thank you very much Attila (and others) for helping shed some light into this crazy market. I am a long term investor, reluctantly turning swingtrader.

raju said...

Vineet,

Would you mind shut ur mouth , see what ever he is posing.

arr said...

@ Raju

I believe Vineet had a point. Could you pls desist from being rude.

tamas said...

Atilla, this doesn't really "feel" like a bottom to me...

I imagine blog views are low today?

Beyond said...

Looks like the Russells is trying to catch up with it's bigger brothers right now. Come on baby! Show those shorts who's boss!

KC said...

I am still waiting for a long entry.

The SPY 86.74 area is being tested and I need to believe today's close will be above 87.65 before I pull the trigger.

Below 86.74 and I would have to believe more down.

KC

L said...

there's no end in this slow low volume decline it seems
i been short past 3 days and i think it will continue till the rest of the week