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Close But No Cigar

Wednesday, March 04, 2009 10:01 PM QQQQ
The Q’s got close to my target of $27.75 but unfortunally I pulled the trigger early this morning.  I usually trade with CNBC muted but not this morning.  I’d forgotten that the Treasury Secretary was speaking so I allow that news to color my decision.  Oh well, he spoke and the market went up.  ‘Bout time.Today’s market action seemed more like a relief rally not necessarily the start of something.  The back off from early afternoon highs and light volume tell the story.  Anyway, the S&P 500 eMi More...

Took The Money And Ran

Wednesday, March 04, 2009 7:58 AM QQQQ
The early short term bounce was just to tempting so I sold 10 Apr. 26 QQQQ (PowerShares QQQ Trust) Calls @ $2.26 right at the close.  Pocketed $350.00+ this morning.  I'm not going to look back or second guess my decision.More Later, Good Trading.TMCTrader  More...

Bounce Time??

Tuesday, March 03, 2009 4:41 PM QQQQ TBT
I'm looking for a counter trend move in the general market over the next 2 days. As the NASDAQ appears to be the strongest market of all the majors I bought 10 Apr. 26 QQQQ (PowerShares QQQ Trust) Calls @ $1.90 right at the close.  I’m in this trade for just a short term bounce to around $27.75 or so with a very tight mental stop.  This type of bottom fishing trade is not for the faint of heart.My remaining Speculative Watchlist selection TBT (ProShares Ultra Short 20+ Year Treasury) remains pos More...

Wheels Are Off; USO Back Into Down Channel

Monday, March 02, 2009 11:53 AM PDE USO
Shortly after my last post the wheels came off the Oil trade when my Trigger Indicators slipped.   Since USO (United States Oil Trust) moved back into it’s downtrend channel and with the general market’s action trending so negatively as well I felt it was prudent to remove both USO (United States Oil Trust) and PDE (Pride International) from my Speculative Watchlist. More Later, Good Trading. TMCTrader  More...

Are The Wheels About To Fall Off??

Monday, March 02, 2009 8:59 AM PDE USO TBT S&P 500 eMini
Are the wheels about to fall off of the Oil selections in my Speculative Watchlist?  PDE (Pride International) and USO (United States Oil Trust) both bare close monitoring for any break in my Trigger Indicators.TBT (ProShares UntraShort 20+ Year Treasury) though trading down is still well above those same Trigger Indicators.  S&P 500 eMini trading still remains a my daily mainstay.Later, Good Trading.TMCTrader More...

Bonds Down, Yields Up; Oil Recovering

Friday, February 27, 2009 12:23 PM TBT PDE USO
TBT (ProShares UltraShort 20+ Year Treasury) continue up as Bonds sold off and Yields rise.  USO (United States Oil Trust) is recovering from an earlier selloff.  PDE (Pride International) continues higher. All three continue to trade positive as all remain above my Trigger Indicators.More later, Good Trading.TMCTrader  More...

Higher Interest Rates and Inflation??

Thursday, February 26, 2009 9:32 AM GLD USO TBT
My Trigger Indicators moved positive for both TBT (ProShares UltraShort 20+ Year Treasury) and USO (United States Oil Fund) this morning so I added them to my Speculative Watchlist.TBT is a bet on higher interest rates and USO could be forecasting higher prices at the pump.  Wow, now that could slow the recovery or maybe not but one thing is certain there's been a lot of money thrown at this economy. Now that could mean higher inflation and higher interest rates which means to me GLD (SPDR Gold More...

Oil Markets Only Bright Spot

Wednesday, February 25, 2009 9:36 PM USO PDE
Today’s market action was disappointing.  After selling off early then recovering moving all the way back and then some only to sell off in the last 20 minutes or so.  This was not very good technical action and could lead to more downside. USO (United States Oil Fund) opened up early this morning then sold off sharply followed by a strong up move over the rest of the trading day (see 45 minute chart).   PDE (Pride International Inc), my Speculative Watchlist selection, mirrored Oil’s trading ac More...

Nothing Really New

Tuesday, February 24, 2009 10:55 PM PDE
Today’s market action seemed more like a short covering rally than a serious start to something new.  The action appeared to be mostly traders flatting out their positions before this evening’s speech.   Speaking of the President’s message, it sure seemed to lack any really new information which surely will disappoint the market tomorrow.   Oh well, PDE was up as was the Oil market.   Asian markets are general up in early evening action, as is the Dollar against the Asian currencies while both O More...

Buy On Rumor, Sell On News

Monday, February 23, 2009 2:52 PM CVGW PDE
Shortly after the opening this morning I removed both CVGW (Calavo Growers Inc)  from my Speculative Watchlist as it broke down through my short-term Trigger Indicator.  The old adage ("Buy On Rumor, Sell On News") proved true for CVGW as record earnings proved to be the nail in the coffin.  PDV (Pride International Inc.) moved close to the short-term indicator as well but holding just above.Very ugly looking market action today, capitulation?  More later, Good Trading.  TMCTrader     More...
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