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I don’t know about you but I am psyched. The prospects of an ongoing party for another decade are extremely good as the following chart shows.
Dow Jones Industrial Average – 1999 to Present
click on chart for sharper image
Market participants put on their party hats and started cheering in 1999 when the DOW crossed 10,000 for the first time.
Tags: Decade
I’ve been positioned short for more than a month now and have really been doing well on the indexes lately. While many traders were clinging to the final leading stocks like NFLX, AAPL, AKAM, etc, my systems had signals for being short since April 30th. What I’m looking at today is the same as how I viewed the close yesterday. An opportunity for a very short term trade on the long side.
I sold out of the call options I bought at yesterday’s close in AMR, LCC, and M in the morning for very nice gains north of 20%. When the market opened I also bought QQQQ calls and a covered call on TNA. I then sold both the QQQQ calls and the TNA trade for gains. Leaning into 10:20 or so I played TNA two more times for losses that didn’t affect the overall gains too badly. At that point I was in all cash and decided to do something productive and go to the gym. Overall a nice morning. I did not trade the afternoon, although I did watch it unfold.
The reason I’m long is a plethora of oversold signals matched up with important price points. What I’m looking for is one – maybe – two green up days. With this in mind I went long the 2x NDX and RUT funds half position. I also bought J
Tags: Been, Been Bearish
People who become interested in trading for a living are often drawn to trading because they want freedom and they are interested in multiplying money. While initially most traders are drawn to trading because of the promise great monetary gains and freedom from the rat race, most traders come to realize that trading is essentially a balance of risks and rewards. Each trader must decide whether or not a particular trading system or money management system is appropriate for his risk level.
For every trader the question remains “how do I maximize my returns?”
I would like to present three ways that you can increase your trading returns. Of these three methods, I believe that only one is appropriate for the majority of traders. It’s up to each individual traders to decide which method, if any, they are willing to employ in order to maximize trading returns. So, let’s begin with the first method of maximizing your trading returns.
1. Take a Large Position
This is the simplest, and most well-known method of increasing returns. Many traders understand that if the trading system has a positive expectancy (the system will make money in the long run), that it is possible to take larger positions and see increased profits.