The addict

Taking a break

noreply@blogger.com (Addict) — Mon, 09 Nov 2009 15:35:00 +0000

Very glad I was out of most of the inverse ETFs early last week, still holding some SRS though. I will be moving to a new apt, so no trading till next week.

Not much going on.

noreply@blogger.com (Addict) — Fri, 06 Nov 2009 04:33:00 +0000

Made one long trade yesterday with DZZ lost 30 cents.
Made one short trade today with WFMI, made 50 cents.

+1.76 points, +3.93 R, Grade B

noreply@blogger.com (Addict) — Wed, 04 Nov 2009 04:50:00 +0000

Got out of FAZ and TZA and 1/2 SRS this morning.
Only swing postion left is 1/2 SRS. It's tunring in to a real disappointment. No strength at all.

Day traded a bit today. I noticed RIMM was strong off the open. Bought it and AMZN and AAPL as well thinking tech will rally. Only RIMM turned out to be the strong one.

					1.76		3.93
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	BDK	58.54	58.71	59	(0.17)	0.46	(0.37)	1103
long	RIMM	56.41	57.2	56	0.79	0.41	1.93	1103
long	AMZN	117.75	117.37	117	(0.38)	0.75	(0.51)	1103
long	AAPL	188.66	188.76	188	0.10	0.66	0.15	1103
long	RIMM	57.62	59.04	57.1	1.42	0.52	2.73	1103

Doji day

noreply@blogger.com (Addict) — Tue, 03 Nov 2009 01:43:00 +0000

Out of AMZN short at 117.8, entry was 122.6 +4.8 points.

Out some SRS as well.

The midday drop was heartening to see, but the slow creep up is hard to bear (sorry about the pun). I still think more downside is likely, but expecting a lot of choppy and sideways action. I will try to get out some more shares and let the rest ride.

Traps

noreply@blogger.com (Addict) — Fri, 30 Oct 2009 20:31:00 +0000

This Wed, Thur and Fri played out just like last week's last 3 days, only more exaggerated. Yesterday created a lot of bag holders. It's probably safe to say we will head sideways and down for awhile.

Still holding AMZN short, 1/2 TZA, 1/2 FAZ, added to SRS long.

SRS had a huge dip near the close, don't know if it's just MM playing tricks or if it's something more ominous.

Confusion

noreply@blogger.com (Addict) — Thu, 29 Oct 2009 23:58:00 +0000

I was expecting a bounce, but nothing close to this magnitude. I closed out half of everything this morning, the rest stops are set to break even. This is a great environment for day trading, not swing. Too much uncertainty in the market to establish a strong trend either way yet. I will shift focus back to intraday trading next week.

New position:

I shorted AMZN this morning at 122.6. It then went down 2 points, performing extremely weak despite of the surging Indexes. But it finally got pulled up near the close. AMZN still looks weak to me, if the market gives back some gains tomorrow, this should go down. Stop is set at 123.6

Looking to exit

noreply@blogger.com (Addict) — Wed, 28 Oct 2009 23:36:00 +0000

I'm going to partial out some tomorrow, don't want to be greedy. I still think there's more downside to go. The rally appears to be over, buying dips should be replaced with shorting rallys.

Tricky

noreply@blogger.com (Addict) — Mon, 26 Oct 2009 22:58:00 +0000

What a treacherous market, fake outs all around. But notice the down moves comes much faster and on heavier volume than the up moves. This probably means more downside to come, but one has to tough out the slow grind up.

Re-entered FAZ long at 19.55

Weekly Review

noreply@blogger.com (Addict) — Sun, 25 Oct 2009 12:07:00 +0000

Some one once said the market's job is to inflict pain on as much people as possible. Last week's yo yo action is a perfect example of this. Bulls and bears both got their asses whopped. The week ended on a down note and possibly more beating is on the way for the bulls. But hey, anything can happen. Right now I'm still long TZA and SRS. Both look like they are in a consolidating bottoming process and still haven't broken through their down trend yet. A couple of solid down days in the market will change that quickly. We shall see.

Easy come

noreply@blogger.com (Addict) — Fri, 23 Oct 2009 02:29:00 +0000

Well, that was fast. I got out
BAC at 16.38, +0.47 cents.
FAZ at 18.6, -0.30 cents.

Still holding TZA and SRS

Today's action caught me by surprise. You just can't relax in this market. I think so many people got burned shorting this market in the past few months, they are all very jittery and cover at the slightest sign of strength. Calling top is hard work, I would've been better off day trading this market instead. If I get stopped out of the rest of my swing positions, that will be the end of my swinging experiment for a while. Daytrading is where I am most comfortable. The big slack you'd have to give to swing positions is very hard for me to do.

Adding shorts

noreply@blogger.com (Addict) — Wed, 21 Oct 2009 22:48:00 +0000

Boy, gap down, fill gap, huge drop in the final hours, Ms. Market sure likes to tease people. I don't think the down grade of WFC was as big of a deal as the media made out to be. If it were, the GS downgrade last week would've done much worse to the market.

If you were watching GS today, you could've seen the drop coming. GS was flat all morning while the DOW ran up 100 points from the low. And it started dropping way before everything else was showing signs of weakness. Gotta keep an eyes on the leaders. Another warning sign early in the day was the divergence between the market and the dollar. The dollar was tanking against the Euro, that should've translated to a much bigger pop on the indexes.

I added to my long positions in TZA and FAZ and shorted BAC at 16.85

While one day does not a trend make. Right now the signs are starting to favor the bears.

Weekly Review

noreply@blogger.com (Addict) — Mon, 19 Oct 2009 23:55:00 +0000

I barely traded last week, so no trade summeries. I currently have a few swing short positions open

long FAZ 18.68
long SRS 9.68
long TZA 11.12

My reasoning behind the entries were:

FAZ - The financials had a huge run along every other sectors the last 2 weeks. It seemed like it ran out of steam by the time GS and BAC reported earnings. It's relatively weak compared to the S&P. If the market turns, financials would probably drop faster.

SRS - While all the other indexes were making new highs last week, IYR was noticebly weaker. It never broke through the high it made on 9/17. This could mean it's just lagging, we'll know more tomorrow when the housing numbers come out.

TZA - stupid counter trend trade, not much reason behind it except I think the market is over extended. Just a small position.

The market was much stronger than I expected today. Apple's earning is not helping either. Let's see how these trades play out.

Scalping

noreply@blogger.com (Addict) — Fri, 16 Oct 2009 02:51:00 +0000

Took a few losing scalps on FAS. The reaction to GS and C's earnings in the morning seemed weak to me. Maybe the market finally ran outta gas. Goog and IBM after hours kinda canceled each other out. BAC and GE is on tap tomorrow and it is also OPEX day. Gonna be interesting.

FWIW, my gut feeling for the market tomorrow is that it will be a down day. I doubt the earnings from BAC and GE is gonna push the market higher if GS, C and GOOG couldn't do much today. But anything can happen. Less predicting, more reacting.

No trading

noreply@blogger.com (Addict) — Wed, 14 Oct 2009 01:47:00 +0000

Just waiting for all the earnings to come out. The dollar is getting mauled. This relentless rise in the indexes may make people feel rich, but probably not many of them realize that the money they are making are getting more and more worthless by the day. So what if you're a billionaire in Zimbabwe.

Week 13 Review (-2.46 points, +0.21 R)

noreply@blogger.com (Addict) — Mon, 12 Oct 2009 02:21:00 +0000

Break even week. Big point loss due to a small overnight short position in FAS

Unbelievable week as the market went up 5 days straight. Easing the past 2 weeks' drop. The indexes are coming up to the 50% retracement from the all time high in Oct 07 to the low in Mar 09. With many big names reporting earnings and OPEX week, there's a highly likely chance this could mark a turning point. What happened last week could very well be a run before earnings and drop after scenrio.

					(2.46)		0.21
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FAZ	22.71	22.28	22.28	(0.43)	0.43	(1.00)	1005
short	AAPL	185.49	185.95	186	(0.46)	0.51	(0.90)	1005
short	AIG	41.74	41.81	42.3	(0.07)	0.56	(0.13)	1005
short	FAS	78.23	83	80	(4.77)	1.77	(2.69)	1006
short	GS	188.63	188.8	189.3	(0.17)	0.67	(0.25)	1006
short	GS	188.31	187.1	189	1.21	0.69	1.75	1006
short	FAS	82.69	82	83.25	0.69	0.56	1.23	1006
short	TNA	45.05	43.7	45.5	1.35	0.45	3.00	1006
short	BGU	50.57	50.71	51	(0.14)	0.43	(0.33)	1006
long	DTO	79.31	80.89	78.6	1.58	0.71	2.23	1007
short	TNA	44.33	44.43	44.7	(0.10)	0.37	(0.27)	1007
short	FAS	81.66	81.94	82	(0.28)	0.34	(0.82)	1007
short	GS	188.76	189.15	189.3	(0.39)	0.54	(0.72)	1009
long	FAZ	19.71	19.5	19.2	(0.21)	0.51	(0.41)	1009
short	GS	189.13	189.4	189.7	(0.27)	0.57	(0.47)	1009

-0.87 point, -1.61 R, Grade C

noreply@blogger.com (Addict) — Mon, 12 Oct 2009 02:14:00 +0000

Made a few trades on Thursday, break even.

Friday

		Enter	Exit	Stop	P/L points	Initial risk	R
short	GS	188.76	189.15	189.3	(0.39)	0.54	(0.72)
long	FAZ	19.71	19.5	19.2	(0.21)	0.51	(0.41)
short	GS	189.13	189.4	189.7	(0.27)	0.57	(0.47)

+1.20 points, +1.13 R, Grade C

noreply@blogger.com (Addict) — Thu, 08 Oct 2009 02:53:00 +0000

Caught the initial spike up in DTO after the crude inventory numbers. Didn't get back in for the real run though. Shorted the leveraged ETFs around 2 pm, hoping for a repeat of yesterday, no such luck.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	DTO	79.31	80.89	78.6	1.58	0.71	2.23	1007
short	TNA	44.33	44.43	44.7	(0.10)	0.37	(0.27)	1007
short	FAS	81.66	81.94	82	(0.28)	0.34	(0.82)	1007

-1.83 points, +2.71 R

noreply@blogger.com (Addict) — Tue, 06 Oct 2009 21:10:00 +0000

FAS gave me a beating overnight. Good thing it was a tiny position, but it's a big loser in terms of points and Rs. I shorted a bunch of things midday when everything stalled and ran out of steam.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FAS	78.23	83	80	(4.77)	1.77	(2.69)	1006
short	GS	188.63	188.8	189.3	(0.17)	0.67	(0.25)	1006
short	GS	188.31	187.1	189	1.21	0.69	1.75	1006
short	FAS	82.69	82	83.25	0.69	0.56	1.23	1006
short	TNA	45.05	43.7	45.5	1.35	0.45	3.00	1006
short	BGU	50.57	50.71	51	(0.14)	0.43	(0.33)	1006

(-0.96 points, -2.03 R) Grade D

noreply@blogger.com (Addict) — Mon, 05 Oct 2009 20:58:00 +0000

Surprise, surprise. The market went up triple digits again on low volume. I was impatient today, shorted the market way too early in the morning before I had a sense of what's going on. Still think we're headed down though. I entered a small partial position shorting FAS near the close.

					(0.96)		(2.03)
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	FAZ	22.71	22.28	22.28	(0.43)	0.43	(1.00)	1005
short	AAPL	185.49	185.95	186	(0.46)	0.51	(0.90)	1005
short	AIG	41.74	41.81	42.3	(0.07)	0.56	(0.13)	1005

Week 12 *swing (+11.47 points, +8.52 R)

noreply@blogger.com (Addict) — Sun, 04 Oct 2009 03:10:00 +0000

I shorted the market midday Wednesday and got out of mostly everything on Friday morning.

My closed positions were,

					11.47		8.52
		Enter	Exit	Stop	P/L points	Initial risk	R
short	TNA	44.78	41	48	3.78	3.22	1.17
short	BGU	50.59	47.03	53	3.56	2.41	1.48
long	FAZ	20.5	23.49	19.52	2.99	0.98	3.05
long	SRS	9.55	10.85	9.1	1.30	0.45	2.89
short	AAPL	182.76	182.92	185	(0.16)	2.24	(0.07)

Still holding DTG short from 25.5 and sold FAS Nov 20, 95 strike call options from 6.35

I used about 2 1/2 times more shares than the regular day trades. So the returns would actually be the equivalent of around 20 day trade R.

I took a few scalps on Friday with GS and FAS but came up about even, so no point listing them.

With last weeks drop, the indexes made a lower high and lower low. they might meander around for a few days before another drop. If it doesn't make a new high. I'll be watching to enter shorts again.

No day trade

noreply@blogger.com (Addict) — Thu, 01 Oct 2009 21:01:00 +0000

It seems more and more likely that the market topped out last week on FED day. Today's drop probably would've had happened yesterday if it weren't for EOQ pump. I'm holding some shorts made yesterday during the bounce, and also shorted AAPL at 183 today.

Game plan for tomorrow: if there's a small gap up, it'll probably get filled. If there's a gap down, depends on how big the gap is, I will be looking to get out of some if not all of my positions and re-enter short on bounce.

No trades

noreply@blogger.com (Addict) — Wed, 30 Sep 2009 02:15:00 +0000

Didn't have time to trade for the past 2 days, still in DTG short.

Week 11 Review (+3.09 points, +6.73 R)

noreply@blogger.com (Addict) — Fri, 25 Sep 2009 20:21:00 +0000

9 daytrades
1 loss
8 wins
0.888 win/loss raio (hey lucky eights!)

					3.09		6.73
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AIG	53.44	53	53.8	0.44	0.36	1.22	922
long	FDS	66.83	67.1	66.5	0.27	0.33	0.82	922
short	AIG	46.5	46.2	46.9	0.30	0.40	0.75	922
short	AIG	46.7	47.1	47.1	(0.40)	0.40	(1.00)	922
long	SKF	24.83	25.32	24.3	0.49	0.53	0.92	924
short	RIMM	84.21	83.74	84.9	0.47	0.69	0.68	924
long	V	69.77	70	69.2	0.23	0.57	0.40	925
short	V	71.55	70.85	72	0.70	0.45	1.56	925
long	SKF	25.83	26.42	25.4	0.59	0.43	1.37	925

+1.52 points, +3.33 R, Grade B

noreply@blogger.com (Addict) — Fri, 25 Sep 2009 20:06:00 +0000

Closed out all my shorts from Wed except DTG, might close that one out on Mon.
I feel the market probably made a top on FED day. If the markets don't show much strength next week, I'm thinking about re-shorting.

Today's day trades

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	V	69.77	70	69.2	0.23	0.57	0.40	925
short	V	71.55	70.85	72	0.70	0.45	1.56	925
long	SKF	25.83	26.42	25.4	0.59	0.43	1.37	925

+0.96 points, +1.61 R Grade B

noreply@blogger.com (Addict) — Thu, 24 Sep 2009 21:58:00 +0000

Kept all my shorts from yesterday and added a little for swing trade.
2 day trades

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	SKF	24.83	25.32	24.3	0.49	0.53	0.92	924
short	RIMM	84.21	83.74	84.9	0.47	0.69	0.68	924