Monday, July 30, 2007

July 30 Trade Summary $1,300

Today was a battle, I really need to spend time on developing that trading system. This morning the A/D lines and market stats were messed up with IB, I was seeing 2400 stocks up on Nasdaq and -1 down,,,,wrong!!, NYSE A/D was 100-600 instead of 1.5,,,,,after about 30min things went back to normal. Watching Pivots levels on ZN was critical today, as ZN pierced through Fridays low and ES rallied to new highs.

What is Jim Cramer talking about,,margin hour,,, 2:45pm EST?

ER2 is now starting to perform better than YM, earlier today ER2 was getting weighed down. I noticed on the WSJ page that there was money inflows into IWM last Thursday and Friday. I also noticed KBH got an upgrade today, which was on the WSJ buying on weakness last Thursday. Also AXP was on the buy list, giving the DJI a good lift today. I'm seeing money going into Biotech, so watch for a possible bounce in the Bio's.

IYR is up for the day right now, and so is XLF, making me think that we may get a bounce the next couple days,,,We'll have to wait and see what happens with bonds though.

It's now 3pm EST and NYSE A/D has pretty much flat-lined along with the rest of the stock market.

Does anyone else see a volatility skew in FXI options? China just keeps going up almost everyday. I wonder what the correct valuation for that ETF is, because the money flow looks to be very strong.


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