Tuesday, July 15, 2008

July 15 Stock Market Reversal


With it being OPEX week, a VIX in the spike to 30, Oil tanking, and with FED actions, I think we have a short term bottom and the stock market will bounce.

Although the NYSE A/D line had bearish values, it has been climbing all day.

Looking at NYSE TICK has been a good indicator in helping find intraday reversal points.


Trading Review-
Traded 70 contracts. Sold a great Long on ER2 right before the market ripped higher, costing me 1-2k in lost profits from not scaling out correctly. Another Crazy day. It's been a struggle, up 500, down 400, up 700, and and now I'm quiting with 2 hours left to trade finishing at my high for the day. Market is choppy and I need to go to the gym and get ready for work.

5 comments:

Anonymous said...

hey dude,
what kind of software are you using ?
signal,thinkorswim ....

Jason on 12:12 PM said...

What will be contract of choice when ER switches over

HPT on 12:48 PM said...

quotetracker, I've got a banner on the right column. Its free, and its awesome.

Jason,
I'll Probably trade YM. The $ amount per tick per contract is great for being able to scale in and out of positions. I still haven't got the new listing from ICE for the new Russell contract thru IB. EMD (mid-cap) still needs more volume for my liking, but I have traded it recently and it tracks ER2 very closely.

Anonymous said...

What is the symbol you use in Quotetracker for the NYSE Tick? I just get the number in QT not the graph...any ideas?

HPT on 10:59 PM said...

Anon,
Checkout my LINK- stock chart setup under trading essentials, you will see the important symbols in one of the pics.

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