Trading for the Masses

The kids sounds much like his father . . .

As the month crawls to a close today, Friday, and Monday, this market is just gone dry when it comes to the volatility. Our short Oil trade started off a bit against us, but also allowed us to sell up in the 107’s to add to the 106.2’s we started at yesteredays market close. As we mentioned we will be short up to 109.5 or so, so the leg in strategy and defined risk has given us a higher average of about 106.9 and we are solidly in the money. You can slide your stop accordingly or keep the trade up to original risk and that is the process of managing the trade.Gold fell off already from its highs and we never got back in short yet, we would still like to see higher prices there. SP’s just hanging around that 1340 to 1350 area again, and tightening their ranges. Taking it light again as the quarter/month end mark ups have many standing in circles shooting at each other. Take it slow and light. Our SAP short into the ORCL numbers worked beautifully, the ancillary plays are sometimes the best and this time the trade worked well. SAP off nearly 3 bucks today and our profits on the short have been taken or rolled into further put positions for the longer term.

We got short Oil here @ 106.2 and will sell up to 109’s and stop out over that level in the future. But this move is kind of funky for sure. Very defined stop here in place and you must respect it if you will be going short oil. Dollar rocked again today down trading 71.88 here. Euro rocking up to old highs, gold up, but not that big considering oil and euro and dollar. Interesting indeed!

Let’s see where we go tomorrow on Thursday!

This market is like the old Tweety Bird, general chaos and nowheresvilled right now. Watch learn and listen.

Crowded house still one of the world’s finest bands.

First open in weeks that I can remember when there was pretty much flat action all nite from close to open. Change of character for what has been a very volatile overnite market. Maybe that means we can sit back as the month/quarter come to a close and see how they behave over the next few days and follow the lead of this market. We have rallied well over 100 pts since the last Fed actions and seem to be out of news to run us further right now. Watch, learn, and listen to the market.

This is a market you just can’t force trades. We are watching the tape grind off the lows of 1342 and are trading 1355 as we speak. No new highs today, just bump and grinding. Take it easy. Maybe go for a ski.

Of course the number is lagging and the consumer is pulling back on his/her pocketbooks as the HELOC lines are gone, the jobs are fleeting nationally and inflation is killing the average Betty as she loads up on milk and butter and the gas to get to the store. Simple facts prevail its tough out there. Let’s see where they take them, but this market may need a bit of a break today as traders return in size today and the sellers return with the easy up yesterday.