SPX Trendline Broken On The Open / Stock Rake

SPX Trendline Broken On The Open

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February 12, 2009

I sold my C calls at the open for a loss.
Bought: SRS, ERY, SMN, and TZA on the open at market.

Looking to get even more short now.

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DRR is doing well today.
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and now having to sell all of those shorts to prevent loss.

SRS and ERY gone.

Have TZA and SMN both will likely be gone.
stoxtar

Wow, you set a very tight stop. I guess the commission fees are insignificant in your case. But you ever try reducing capital in each trade to set wider stop or are you just using your signals?
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Annnnnnnnnnnnnnd back in SRS and ERY
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I'm using nothing but being a total fearful wussy. Signals are solid green. The market has just played games though with these ETFs like SRS. In 4 minutes yesterday at the close SRS lost 3 bucks for instance. I'm just being Ultra cautious, but right now I shouldn't be. The SPX broke the trendline we are going down big and I should sit tight and do nothing.
stoxtar

Only problem is…how much of a swing in the opposite direction can you withstand before we head down comfortably. There has to be conviction I guess.
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I'm not withstanding a large drawdown this is why I've been quick to take a small loss. However, on this last buy I walked away from the computer and am ok being short based on the bad break of SPX. HOWEVER, Its turning into a losing trade for me doing this.

The market is moving 50 dow pts inside 30minutes on an intraday basis.
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Impossible for me to sit still in these etfs. Moving too much here. Covered with loss.
stoxtar

I'm telling you. you're missing good trades here 'cos you allocate too much capital to them. These MMs are out to get your money man. lol. If you bought at intraday bounce which is likely now or around SPX 825, set a hard stop about 1pt below the 10am low, and let it ride dude. Keep small positions and add or subtract.
Don't mean to lecture you. You're probably doing much much better than I am in this crazy mkt
stoxtar

well, i got some BGZ 67.95, stop is as I said
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Back in SRS, ERY, and now FAZ, and BAC puts. This is my second shot at shorting BAC which my stop took me out the first time. This time just puts. I'm looking for a more selling, and I'm not expecting a rally. In this market, though who the f%ck knows.
stoxtar

Careful about SPX 812 though. Some bullshit resistance there.
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I started unloading everything at Dow -220
Out of SRS @ 68.68 after a rebuy @ 66.99
Out of BYONF @ .91 after a buy @ .80
Out of FAZ @ 49.8 after rebuy @ 49.76 man the market moved so fast before I got this order off. Was above 50 when I placed 2 orders in front of it…

Out of ERY @ 38.09 after rebuy @ 37.15

and then Dow -212
stoxtar

I dont know why these brokerages don't have a liquidate everything button. That would be a killer app. Just push and everything sells at market.
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The only way to do this at Ameritrade is save your orders for later…all of the things you may sell.

Then click one box and execute all orders. However, why they don't just implement this immediately on the main screen is beyond me.
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This comment got me back into the short and made some money today, so I thank you.

Went back to my signals and let them just cook. Went and watched a movie, played with my kid, and came back thankfully at a good time. Sold out and positioned for a possible extension tomorrow.
http://www.stockrake.com StockRake

The only way to do this at Ameritrade is save your orders for later…all of the things you may sell.

Then click one box and execute all orders. However, why they don't just implement this immediately on the main screen is beyond me.
http://www.stockrake.com StockRake

This comment got me back into the short and made some money today, so I thank you.

Went back to my signals and let them just cook. Went and watched a movie, played with my kid, and came back thankfully at a good time. Sold out and positioned for a possible extension tomorrow.

http://www.stockrake.com