Stock Market

Well, I managed to squeak out 3 points in the big S&P for Friday. Not bad considering the chop and the NARROW range (6 points!)
Hope everyone had a good week and next week is even better!
 
I wont be back into trading til next week, but I'm assuming you shorted the AM. I'm also thinking you'll make back the 2.4 pts and then some later on today :)

Quick question; which is easier to trade Big S&P or e-mini?

-Awais
 
On Friday I bought back the covered calls I sold on IMCL. Sold at 3.60 bought back at 2.90. 700 gain. Today during the run up of IMCL I sold the JAN. 35s for 4.90.

FDA approved Cialis on Friday and the stock went down. I am down 3-4k on the calls I hold on ICOS. Made it up with the IMCL calls.
 
O-Ace said:

Quick question; which is easier to trade Big S&P or e-mini?

-Awais

Yeah...i did short thinking it might fill the gap but saw strength developing.....

E minis are better to trade due to very little slippage, instant fills.
I usually trade them when the market is fast, SP's when there is retracements and targets.
 
steveny said:

FDA approved Cialis on Friday and the stock went down.

I hate that when it happens. Its hard trying to decipher what the market will do when news comes out. Now I look to fade the news (after years of getting mangled by traps) but that is sometimes a crap shoot too!
 
O-Ace said:
NowSeeX's, hope you reversed to long early in the day.

-Awais

I didnt.....:rolleyes: Thought about it but didnt....
and I should have taken today off....but didnt....LOL
 
NowSeeX's said:
I didnt.....:rolleyes: Thought about it but didnt....
and I should have taken today off....but didnt....LOL
I was expecting today to be mostly chop so didn't even bother looking at ES. Checking out some different brokers right now since my current trading platform is not so great. You ever heard of a firm called open e-cry?

-Awais
 
Hey guys!!!! Glad your doin good today!!! Have a good t-day? It was nice to have 4 days off!!! Been hard getting back into things!!!
 
O-Ace said:
You ever heard of a firm called open e-cry?

-Awais

I havent heard of e-cry...how long have they been around? What are they charging? why are you thinking about the change?
 
NowSeeX's said:
Hey guys!!!! Glad your doin good today!!! Have a good t-day? It was nice to have 4 days off!!! Been hard getting back into things!!!
I know what you mean...I completely forgot to check for economic #s this morning and it cost me a quick 2.5 ES pts. Down 0.5 overall. No biggy; I'm still in vacation mode :D

-Awais
 
Steveny, O-Ace, et al...

What do you guys think about using the chat room on this forum?? I think alot would depend on what we could chat about and how many people would be interested..and at what times....any thoughts?....or is posting good enough?
 
NowSeeX's said:
I havent heard of e-cry...how long have they been around? What are they charging? why are you thinking about the change?
Their website is www.openecry.com Don't know exactly how long they've been around. There's no monthly fee or minimum volume requirements. Commiss. are $4.8 round-trip on the minis (might be able to get it a bit lower). I'm not happy with my current platform so am testing out other solutions. Plus, I know a couple of other people trading with open e-cry and they say a lot of good things about their customer service. Another reason is, I can trade the big S&P if I want to with open e-cry. PM me and I'll give you the direct phone# to the contact person I'm dealing with at open e-cry. The other choice is to go with the X Trader platform. Commiss. will be $3.30 r/t on X Trader but with a different firm; and X Trader costs around $600/month

-Awais
 
O-Ace said:
I'm still in vacation mode :D

-Awais

Im DEFINALTY still in vacation mode....ive looked at my charts a half dozen times.....I think im trying to stretch things into a 5 day vacation unconsiously...

bad..very bad;)
 
NowSeeX's said:
Steveny, O-Ace, et al...

What do you guys think about using the chat room on this forum?? I think alot would depend on what we could chat about and how many people would be interested..and at what times....any thoughts?....or is posting good enough?
I think we're the only 3 people that trade on a some-what regular basis. How about I setup a private room on Yahoo messenger instead? I don't trade all day though, just the first hour or so.

-Awais
 
Psycnosis, I also use the floor pivots; draw them on the chart for reference. You're lucky you found a successful trader as a mentor. Unfortunately, I don' t know of anyone willing to help/train when it comes to trading.

-awais
 
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