QQQQ is touching the first degree low projection for today. So is the 14:15pm the low instead of a high I thought? Possible.( time 10:40) Good Trading
10 comments:
Anonymous
said...
Greetings Boris, New reader (ring the bell)... Browsing the web and came across your blog and have taken interest on your market views.
What is your take on the qqqq and bhp.
I have taken a short position on Friday Jan 46 and Feb 46 pits on the qqqq and long Jan 37.5 on bhp.
I took 2/3 out of qqqq yesterday but have a very itchy trigger finger to go back in heavy on more puts ?
As for the BHP, I caved in took what profits I had left on BHP and allowed my emotions get the best of me and out. Sure enough, two ++ days in a row. I have the mindset that bhp was in for a positive trend coming for late Dec into Early Jan.
Dear Byzanman, Welcome to our house. Let's start with BHP, because I write a lot about markets and QQQQ and my views on it are/should be clear, even though we will discuss it later. BHP is a stock that is looking for place to hide for this end of the year, If anything, I think it will move lower into or especially after new year ( or fluctuate at best). The only way I can approach this stock on a day by day bases as all my indicators are expiring exactly at a time the new year bells ring. So save your time and find something more interesting, that moves faster and came out of some kind of attraction(support/resistance) point. I booked some quick profits on BSX and MED stocks, just because they were moving. If you insist on BHP let us discuss it in few weeks after the new year. Of course I have assumed that you have intraday trading skills, if not then just the same forget the BHP.
QQQQ, look at my possible market direction ( see How Do We Get THere, below ) and figure from there what you may want to do with the QQQQ's and how to time it. I myself do not have any better. I myslef will be following that forecast, finetuning it daily on this site. You are welcome, to come back and see if I have changed my mind, but I think that chart shows where my mind is until FEB/MAR 2007. You are welcome to ask questions every day, such as daily limits of one stock or the other. Do not trust my or anybodies forecast for relatively long time. By looking at our PRESSURE chart today you will see how we feel for 1-4 days. For a more specific day/intraday info, please come back. We will be glad to answer any/all your questions. Happy new year too you as well, my friend and Profitable trading.
Dear Byzanman, I hope the forecast chart below does not confuse you. It is for DOW, you just use the form of it for QQQQ, not values, of course, Enjoy. Good Trading
Boris, i like to look at Chaikin Money flow on odd time frames, I would guess that the cubes want to go sideways to up somewhat for a while, like into tomorrow, then down again.
Like, intraday (20 min. chart) accumulation not finished, daily distribution also not finished, something like that.
Dear Cobbense, I have not used Chaikin MF in a long time, I am now not sure why I did not find entirely useful for me, but perhaps I should take a look, to see If I can use it better today. Thanks for your insight on the subject. Good Trading
Chaikin Money Flow together with the Chaikin A/D Oscillator works very well for me on some stocks, not at all on others, have never figured out what the reason may be.
This is not rocket science, but it can be a leading indicator.
I use these also for additional confirmation when I think I see a top or bottom appearing for other reasons.
Thank you for your clarification And will study this as it seems that the QQQQ, is in for some tricky trading ahead Since the buying seems to be drying up but the selling still seems to be benign. The "meandering" continues and it will be interesting to see how this develops. In any case, I am wary of a Santa Claus rally by tightening some stops on my puts.
In regards to market futures.... I have been tracking futures the night before the opening bell on the nas and S&p as "some guidance" for the day and am interested to know how you weigh this information For your trading.
Thank you for your comments on BHP and QQQQ, and agree that BHP is looking for a "home" But I can not help but feel that there may be some M&A activity for this company in the near future. The M&A flurry in metals this year has me wondering what is in "tap" for the near term in this sector And the oil sector as well.
Thank you for your time, blog and your forum. Your hospitality is very appreciated and wish you and All participants profitable trading !
Hi Boris, I recently let go of my position in IAG.AX (at 6.15) and then it blew past my closing point to 6.3 - typical :(.
Nevertheless, I'm getting issued shares at $5.50 for it soon :). I'll probably add to the position too late Jan when it is likely to correct somewhat. - Just look at that cup and handle that's forming!
Anyway, I agree with you on your comments about BHP. It is a technically broken stock (since Sept) that's been drifting lower.
However, concerning your projection for the DOW, I just don't see the US market falling by that much before Christmas. What is the reason for your projection?
Thanks. And Merry Christmas + Happy New Year mate. Congrats on the great trades.
Dear Byzanman, Good to have you particpate with us. Please see GOOG analysis in the next to this blog. I like the short in IWO, managet it correctly. As you know, in general 75% of stocks will follow the market and our market map is correct, in outline at least, then IWO,QQQQ shorts may do well and that could go opposite to GOOG longs. Options in general, I have a problem with them. 1) Costs of trading them are higher ( spreads/slippage) and 2) "meandering" kills the premiums. Not to discourage you, the risks can be calculated and limited, that is a good side. For me, I mitigate that by being there, watching market and having actual/mental stops.
Dear Godmach, I used to watch the markets in the evening. Now it is a bit harder for me to do that, cause of Time differences between Israel/USA, but never really applied that info to my trading. I see that info as I, often chart my charts, on a 24 hour bases. So I must be using it somehow. Frankly though intraday action of securities is what drives my decisions, unless the evenening/european actions seem significant ( especially in GOLD ).
With regard to M&A, you are right there, there is so much of it going on, but is not BHP too big for it's own good? I agree though anything can happen in that regard. Happy New Year to you and GOod Trading
Dear Jebuskrite, Did not discuss AIG. If so, I should have indicated that, while 6.15 presented a resistance point, if blown away we could easily go to 6.35-6.8 area, even higher. We may want to recalibrate this next year though. The cup yes, the cups opften break down, though, instead of break up. So let us see what the indications are next year. Yes, about BHP.
The market outline is, indicateive of form, not exactly the size of the outline. In that sense, I believe it looks like a reasonable possibility. It is based on mirroring projections from the past trading. Happy New Year to you too as well my friend. Good Trading
10 comments:
Greetings Boris,
New reader (ring the bell)...
Browsing the web and came across your blog and have taken interest on your market views.
What is your take on the qqqq and bhp.
I have taken a short position on Friday Jan 46 and Feb 46 pits on the qqqq and long Jan 37.5 on bhp.
I took 2/3 out of qqqq yesterday but have a very itchy trigger finger to go back in heavy on more puts ?
As for the BHP, I caved in took what profits I had left on BHP and
allowed my emotions get the best of me and out. Sure enough, two ++
days in a row. I have the mindset that bhp was in for a positive trend coming for late Dec into Early Jan.
I am a short term options trader.
Have a good one and Merry Christmas..!
Dear Byzanman,
Welcome to our house. Let's start with BHP, because I write a lot about markets and QQQQ and my views on it are/should be clear, even though we will discuss it later.
BHP is a stock that is looking for place to hide for this end of the year, If anything, I think it will move lower into or especially after new year ( or fluctuate at best). The only way I can approach this stock on a day by day bases as all my indicators are expiring exactly at a time the new year bells ring. So save your time and find something more interesting, that moves faster and came out of some kind of attraction(support/resistance) point. I booked some quick profits on BSX and MED stocks, just because they were moving. If you insist on BHP let us discuss it in few weeks after the new year. Of course I have assumed that you have intraday trading skills, if not then just the same forget the BHP.
QQQQ, look at my possible market direction ( see How Do We Get THere, below ) and figure from there what you may want to do with the QQQQ's and how to time it. I myself do not have any better. I myslef will be following that forecast, finetuning it daily on this site. You are welcome, to come back and see if I have changed my mind, but I think that chart shows where my mind is until FEB/MAR 2007.
You are welcome to ask questions every day, such as daily limits of one stock or the other. Do not trust my or anybodies forecast for relatively long time.
By looking at our PRESSURE chart today you will see how we feel for 1-4 days.
For a more specific day/intraday info, please come back. We will be glad to answer any/all your questions.
Happy new year too you as well, my friend and Profitable trading.
Dear Byzanman, I hope the forecast chart below does not confuse you. It is for DOW, you just use the form of it for QQQQ, not values, of course, Enjoy.
Good Trading
Boris, i like to look at Chaikin Money flow on odd time frames, I would guess that the cubes want to go sideways to up somewhat for a while, like into tomorrow, then down again.
Like, intraday (20 min. chart) accumulation not finished, daily distribution also not finished, something like that.
Regards,
Dear Cobbense, I have not used Chaikin MF in a long time, I am now not sure why I did not find entirely useful for me, but perhaps I should take a look, to see If I can use it better today.
Thanks for your insight on the subject.
Good Trading
Chaikin Money Flow together with the Chaikin A/D Oscillator works very well for me on some stocks, not at all on others, have never figured out what the reason may be.
This is not rocket science, but it can be a leading indicator.
I use these also for additional confirmation when I think I see a top or bottom appearing for other reasons.
Regards,
Dear Boris,
Position : Short on QQQQ, IWO Long on GG
Thank you for your clarification
And will study this as it seems that the QQQQ, is in for some tricky trading ahead
Since the buying seems to be drying up but the selling still seems to be benign.
The "meandering" continues and it will be interesting to see how this develops.
In any case, I am wary of a Santa Claus rally by tightening some stops on my puts.
In regards to market futures....
I have been tracking futures the night before the opening bell on the nas and S&p as
"some guidance" for the day and am interested to know how you weigh this information
For your trading.
Thank you for your comments on BHP and QQQQ, and agree that BHP is looking for a "home"
But I can not help but feel that there may be some M&A activity for this company in the near future.
The M&A flurry in metals this year has me wondering what is in "tap" for the near term in this sector
And the oil sector as well.
Thank you for your time, blog and your forum. Your hospitality is very appreciated and wish you and
All participants profitable trading !
Hi Boris,
I recently let go of my position in IAG.AX (at 6.15) and then it blew past my closing point to 6.3 - typical :(.
Nevertheless, I'm getting issued shares at $5.50 for it soon :). I'll probably add to the position too late Jan when it is likely to correct somewhat. - Just look at that cup and handle that's forming!
Anyway, I agree with you on your comments about BHP. It is a technically broken stock (since Sept) that's been drifting lower.
However, concerning your projection for the DOW, I just don't see the US market falling by that much before Christmas. What is the reason for your projection?
Thanks.
And Merry Christmas + Happy New Year mate. Congrats on the great trades.
Dear Byzanman, Good to have you particpate with us. Please see GOOG analysis in the next to this blog. I like the short in IWO, managet it correctly. As you know, in general 75% of stocks will follow the market and our market map is correct, in outline at least, then IWO,QQQQ shorts may do well and that could go opposite to GOOG longs. Options in general, I have a problem with them. 1) Costs of trading them are higher ( spreads/slippage) and 2) "meandering" kills the premiums.
Not to discourage you, the risks can be calculated and limited, that is a good side. For me, I mitigate that by being there, watching market and having actual/mental stops.
Dear Godmach, I used to watch the markets in the evening. Now it is a bit harder for me to do that, cause of Time differences between Israel/USA, but never really applied that info to my trading. I see that info as I, often chart my charts, on a 24 hour bases. So I must be using it somehow. Frankly though intraday action of securities is what drives my decisions, unless the evenening/european actions seem significant ( especially in GOLD ).
With regard to M&A, you are right there, there is so much of it going on, but is not BHP too big for it's own good?
I agree though anything can happen in that regard.
Happy New Year to you and GOod Trading
Dear Jebuskrite,
Did not discuss AIG. If so, I should have indicated that, while 6.15 presented a resistance point, if blown away we could easily go to 6.35-6.8 area, even higher. We may want to recalibrate this next year though. The cup yes, the cups opften break down, though, instead of break up. So let us see what the indications are next year.
Yes, about BHP.
The market outline is, indicateive of form, not exactly the size of the outline. In that sense, I believe it looks like a reasonable possibility. It is based on mirroring projections from the past trading.
Happy New Year to you too as well my friend.
Good Trading
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