Tech stock earnings on 7/18/2012
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.
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.
this is how Summer 2k12 begins.
less of a trader, more of a prophet.
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.
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.