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Tech stock earnings on 7/18/2012
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I wonder how some of the tech stock earnings going to be tomorrow such as IBM and QCOM. The sector is not doing too good lately. I think this sector is a leading indicator for the whole market.
I want to initiate a short position in the QQQ's depending on how well it trades around 64.50.
The NDX and the DJIA have not traded as well as the SPX and look like they are getting ready to fall. (I am watching the 100dma on the DJIA first, then 12,900)
They will fall.
Staying long the SPX until further notice.
Its trading above the 100 dma and look like it going to 1375. Its trading on a very well defined uptrend.
I'll reevaluate at 1375ish.
The NDX and the DJIA have not traded as well as the SPX and look like they are getting ready to fall. (I am watching the 100dma on the DJIA first, then 12,900)
They will fall.
Staying long the SPX until further notice.
Its trading above the 100 dma and look like it going to 1375. Its trading on a very well defined uptrend.
I'll reevaluate at 1375ish.
things stopped moving up today precisely as they were supposed to.
Sold all SPX longs.
I will trade long intraday until the reversal which could happen any day now, and for me its too risky too hold long positions overnight.
Tomorrow will be a very important technical event whether up or down.
Im looking for a pop followed by an intra-day sell off.
I want to hopefully start initiating the above stated shorts if the price action allows,
Look at the August VIX index options prices. The prices moved up as the vix went down. That's your tell.
Start hedging.
Initiate shorts.
this is how Summer 2k12 begins.
Sold all SPX longs.
I will trade long intraday until the reversal which could happen any day now, and for me its too risky too hold long positions overnight.
Tomorrow will be a very important technical event whether up or down.
Im looking for a pop followed by an intra-day sell off.
I want to hopefully start initiating the above stated shorts if the price action allows,
Look at the August VIX index options prices. The prices moved up as the vix went down. That's your tell.
Start hedging.
Initiate shorts.
this is how Summer 2k12 begins.
hmmmmm.....
less of a trader, more of a prophet.
hahahhahaha
Hope everyone trades well today...
Your only as good as your last trade!
less of a trader, more of a prophet.
hahahhahaha
Hope everyone trades well today...
Your only as good as your last trade!
Well my next trade is selling my 5 375.00 CMG july puts... But my last trade was selling 35 375 CMG july puts I owned in the last ten minutes yesterday after I decided this bet was stupid given how much I could still get for them.... Oh well, such is to be expected when gambling. Wish my power went out and would have forced me to hold onto all 40... but I shouldn't complain I fully expect to lose on bets.
Edit:
Sold the last 5. lol what luck. Should have lost about half on that overall bet, ended up making a good bit. Would have been funnier if I let the whole thing ride yesterday instead of just 5 into the earnings.
Odds were against you. As we all know, buying OTM options going into earnings, odds are already against you as the IV crunch kills 95% of the time. I'm not sure I'd read too much into CMG's report though because April-June is usually times when there isn't much business. There is more business June-September for fast casual especially because catering gears up as corporate purchases increase drastically.
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