How about this for red:
http://finviz.com/map.ashx?t=sec
Here's a link to Dryship's market report on tanker rates:
http://www.dryships.com/index.cfm?get=report
The Baltic Dry Index is now 50% below the May/June high. Need more proof of a global slowdown?
Time to fade the rallies again and swing the short positions...which I should have done starting Tuesday.
About Me
- OE Trader
- I am a part-time trader focused mainly on momentum stocks. I use deep-in-the-money options to trade high-priced, high-flying stocks. As options expiration nears each month, I transition to at-the-money or out-of-the-money options to maximize the risk/reward of my trade set-ups.
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5 comments:
nice to see you posting and teaching your art OE. you are world class.
OE, SOLD my XLF & Q Puts....nice profit. I'm probably early again but preservation of capital is king right now. Losing my ass on FXI, banking coin in XLU, still holding C puts (Oct.)-this one could literally implode, soon. Bought more UNG Oct Calls and took a sizable position in XTO Sep 50's @ .85. Hit'em Straight!
Thanks, Stewie!
Darwin, nice call on the puts. I joined you in UNG. Natty has held up pretty well the last 2 days. Good to take quick proifts. This market is nuts!
Will hold over the weekend...especially UNG, XTO, XOM...have you seen what's going on now on the weather channel...coincidence? I did by a few contracts (25) on X Sep 115 @ $4 earlier. Do we crash Monday or did we make an intermidiate term bottom? Win , lose, or draw, this is fun.
D, I think those are good holds. I should have paid closer attention and re-entered my energy positions this morning. Ike is huge and it hasn't even hit the gulf, yet. I like that play on X. It could easily make it back up to $125. Similar to my positions this morning, watch the 20-SMA on the 30-min chart. It may correct early Monday before continuing the uptrend.
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