SINA has been brought down from the high $80s since the start of november, for multiple reasons including its earnings. Not a big fan of these china stocks, but figure this one squeezes like it has in the past. Will alert the call position after open but expecting $75-$78 in short order.
So there has been a few things a trader could count on each trading day... If the market was up, the US Dollar was down.. and vice versa. So here it is Sunday night(monday Morning), and for the first time in recent memory, the futures are up a decent amount (.5%+), and the US Dollar is up nearly as much (. 47%).
It was enough to get Curious George out of his tree.
It has been a risk on, risk off environment. The US Dollar has been a benefactor of the Risk-off trade, as traders have flocked to the greenback as a safe haven as equities sold off. With Wednesdays coordination of world banks to increase liquidity, the risk on trade was given the green light. Equities had their best day since 2009, and the US Dollar dropped.
Is the US Dollar ready to have a mind of its own, and continue it's ascension to $80? Time will tell, but tonights action has me confused, and curious george... well.... Curious...
A successful trader has many tools to help them tread the equity "waters", and the forex is one of them. Tonights inverese correlation has me confused. Lets see how the market is at open tomorrow.
So those LNKD Calls we alerted @ .20 on Wednesday morning, hit $4.80 friday morning. So thats would be $200 into $4800 into 48 hours. Now i would call that a pretty good week for folks.
I am updating some charts. Right now I am holding all puts: AXP, MS, JPM, IBM and was looking for MA, GOOG, LVS, WYNN, GMCR as the market was closing but didnt pull the trigger. Perhaps Monday will provide a better opportunity.
This same time last week the market was in meltdown mode. Those red lights were flashing, the sirens were blasting, and the emergency personnel were donning their white chemical suites. It's amazing what 5 days of centrally planned manipulation will do for the sentiment of the market. This is just another act of can kicking. Nothing has changed. No debt has been flushed down the toilet and the overall picture still reeks. Mind you I was along for the ride this week. I am a bear, and think we the world economy is doomed, but no sense letting a fabulously coordinated ramp job leave me empty handed. I noted early in the week that I was a holder of numerous calls including the CAT $95 at $.32 they went to $3.20, the JPM $30 at $.22 they went to $3.15, and the SPY $121 at $.75 they ultimately went over $4. I bought these positions based on a chart formation that I nailed with perfection. (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69452621&txt2find=jpm) It was a picture perfect week and these wild swings provide tremendous trading opportunities. While I closed out many of my positions for only 4-5X times my investment, and watched them continue to soar, I still had a fabulous week and I am very happy locking in my gains.
In this centrally planned market there is no telling when fresh taxpayer cash will hit the futures market to artificially ramp stocks, or negative news will hit the wires. You have to be nimble.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69401113&txt2find=jpm
Some of my my charts and commentary:
On AXP: https://www.optionmillionaires.com/forums/premium-option-trading-forum/axp/#p38
On CAT: https://www.optionmillionaires.com/forums/premium-option-trading-forum/cat/#p39
LNKD continued its ascent today, and shows how stocks can continue defy it's own fundamentals. We alerted the $67.50 Dec weekly calls @.40, on the morning pullback. LNKD then continued to surge late in the day to a high of $68.25. Our $67.50 calls went for $1.30, a nice 250% gain.
11:54 AM : Like LNKD $67.50 calls right now. Stock squeezed about 1 pm yesterday, so expecting a move up here soon.Currently .30 x .40... Very risky as they expire tomorrow, but reward can be great as well.
