Trades Today Went 8-8 Still Holding Some

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December 16, 2008

If you have followed me today, you saw this morning I bought, YZC, UYM, RSX, SSO, and TNA. I also went long with Rydex double funds and got filled at 10:45 at a entry price. Over there I went long the SPX, RUT, and NDX.

All trades bought today closed with nice healthy gains.

I sold my SSO at the close, for a 7% gain. I also sold all my Rydex positions. This is not because I don’t think the market is going higher. In fact, I think there is gap up potential tomorrow morning. I’m just worried about the 10:45 window not being good. The selling of SSO had no real rational reason other than to take a profit.

I kept YZC (+6.2), RSX (+6.5), TNA (+11.3%), and UYM (+6.3).

Now I always like to play the indexes, but my rational for buying the UYM, RSX, and YZC was commodity related. Obviously, RSX is tied in a big way to commodities as is UYM (basic materials). YZC was strictly a beta play hoping for the biggest move on my watchlist. However, I ran out of cash otherwise I’d have been buying CF, POT, UYG/FAS, URE, and many many more. It was a very indiscriminate morning where everything was on a buy right out of the gate. Then the entire market consolidated around 11 and kept going sideways right into 2:19 where the Fed released late.

There were so many things that looked good it was ridiculous. I mentioned both the UYG and USD earlier today in this post before the FED posted. Both were great plays post FED.

You probably missed my NDX chart I posted earlier as well. We surpassed certain levels today by a few points. So now we have to see how the market holds up here. If it trades above the price of 1241.97 I want to be long, because there is nothing in the way for a NDX move to 1299.

We cleared all the old important SPX levels and closed above the next level of 908.11.

Many of the emerging market ETFs brokeout today. That would be IFN, INP, EWZ, RSX, EEM, EEB, FXI. Good for a trade no doubt.

Anything that has been beaten to death take a look at their daily charts and see if they peak your interest now.


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  • http://scalptrading.blogspot.com singh

    any idea on ABK and FAS

  • http://www.stockrake.com StockRake

    I wasn't interested in playing ABK due to it just being a piece of crap stock.

    FAS I would have bought today if I either had cash left to make a trade and or its buy signal was stronger in the morning. FAS went bonkers post fed and it was something I could only watch go. That is why I made comments about UYG earlier before the fed announcement that it had cleared the level needed to rise higher. Again I could only sit and watch that one.

    Everything I bought this morning was a solid buy out of the gate. However, there were so many stocks that looked attractive it was really a pick em.

  • http://scalptrading.blogspot.com singh

    any idea on ABK and FAS

  • http://www.stockrake.com StockRake

    I wasn't interested in playing ABK due to it just being a piece of crap stock.

    FAS I would have bought today if I either had cash left to make a trade and or its buy signal was stronger in the morning. FAS went bonkers post fed and it was something I could only watch go. That is why I made comments about UYG earlier before the fed announcement that it had cleared the level needed to rise higher. Again I could only sit and watch that one.

    Everything I bought this morning was a solid buy out of the gate. However, there were so many stocks that looked attractive it was really a pick em.