Friday, September 4, 2009

September 4th, 2009

Ok. let's try this one more time. Look for QQQQ to hit 39.80 target.

46 comments:

  1. Finally, the 39.80 had been hit.

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  2. For readers of my post, how am I doing so far?
    Sometimes I gave out targets, top and bottom of the day and at the end of the day action.

    * Poor
    ** Below Average
    *** Average
    **** Above Average
    ***** Exceptional

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  3. Ok. Here are my next targets. Watch for SPY to hit 102 or QQQQ to hit 40.30 area in the next few days.

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  4. I have warned the shorts to cover their positions yesterday. I hope that they did. The market is not ready to go down yet.

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  5. What if it goes other way. At what point we take loss before it gets bigger.

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  6. Sure Mantra, I don't know how long have you been reading my posts. I started the blog 3 weeks ago.
    All my targets had been hit. You can check it for yourself. Sometimes I made outrageous targets and it didn't make sense for some investors. Guess what? Those targets had hit too. The targets can be delay if there are unexpected news or events come out. It happened one time so far with my 39.07 target because of the Bernanke's speech. Don't worry about daily fluctuation. Don't trade with your emotions.

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  7. Yeah the 39.07 target through me off for a week. I almost threw in the towel.. But I waited and waited as the target still stood.

    It was tough to see QID go to 24.50 when I was in @ 26.20. Got it down to avg of 26.00 on the way up and got out a little early at 26.25 (went up to 27.00!).

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  8. Am I good or what? QQQQ had hit its target at 40.30 with couple hours after I mentioned. SPY at 101.82 is very close to 102. It is close enough for it.

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  9. You are an unbelievable talent what next is right?

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  10. Good call. I sat that move out.

    Just a little nervous before the holiday weekend.

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  11. Finally, SPY had hit its target at 102. All my targets had been hit today for QQQQ at 39.80 and 40.30.

    Is this the best free service out here?

    Most other sites give you end of the day summary.
    It tells you what happened. Any sites can do that because it already happened.

    My blog gives you targets to look for and real time commentaries.

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  12. GCL if we are short should we stay that way until next week or dump end of day?

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  13. how much longer until it becomes a paid site?

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  14. imrusmiley, do you have any positions open?

    If not, don't open any positions before the weekend. That way you don't have to worry about it. Enjoy with your family for a long weekend.

    The stock market will be open again next Tuesday.

    Personally, I don't have any positions left. Family comes first.

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  15. Matt, if the site is not free, will you subscribe it?

    I would like to know if my blog is any different from other sites. Or is it the same?

    I want my blog to be different from everyone else.

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  16. gcl I have open put positions on SPY underwater slightly

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  17. imrsumiley, what is the strike price and month for SPY? What is the premium you paid for it?

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  18. Is it this month, September. After this weekend, you have only 9 days till expiration.

    Your premium will lose value over the long weekend.

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  19. Hey gcl, nice blog you have going on here. Someone just referred this blog to me and I read back about a week of your posts and everything is pretty good. Are your posts only primarily focused on using the smaller indexes/etfs to find market direction? It would be cool if you could provide one or two picks once in awhile or possibly just let us know of a few positions you currently hold. Regardless, your insights and those of who are posting is great stuff....and best of all its FREEE lol

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  20. There a lot of free sites who give commentary during the day and provide a end of the day video update and guidance for next day...
    Again, they are full time traders and some even running hedge funds.

    These sites provide intraday commentary
    stocktock.com
    slopeofhope.com
    evilspeculator.com
    inthemoneystocks.com

    I wouldn't even think of paying for this blog....

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  21. GCL...you are correct about the time decay however the VIX hit resistance at 25 today and it should go up from here making the option worth more...plus other blog sites are predicting 980 on S&P early next week which would put them close to the money...do you have any thoughts on direction next week?

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  22. Just my 2 cents: I wouldn't mind if you set it up as a donation type service.

    Use for a month and if you made some nice profits, suggested donation of $20 (more is welcome, etc)..

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  23. Ya,
    Donation type should get you started and see how it goes for may be 6 months and then decide..
    Dont get me wrong, but i am saying there are many free sites and if you make your blog paid site, many wont subscribe...

    I would be paying for a site only if i make consistent profit out of it.

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  24. imrusmiley, I don't know which brokers you have.
    If I have bought SPY at the strike price for 0.85,
    and now it is probably at 0.67. If you believe it is going down to 980 in next two weeks, hold on to it. What happens if it doesn't? If it trades sideway or go higher, then you will lose all your premium.

    My take is open a position to sell SPY at 97 strike price and collect .51 for it. This will offset your premium at 0.87.

    At most you can only lose 0.26. The profit can only be 0.13.

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  25. stm, have you tried the sites you listed? How good are they? I might not have fancy charts or web page design like they do. I care about the content and making money. That is what we are here about.

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  26. Yes, gcl, you are doing great.

    I hsven't posted today because I had a bunch of personal stuff to take care of and have to leave again shortly, but I promise to take some time Saturday morning to catch up on your success and some follow up on my posts from yesterday.

    I did have my position in SWI taken out @ 18.90 for a small gain. Had just entered a limit sell.

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  27. I closely follow only stocktock.com all day. they are a little bit more biased on the downside and hence i follow only few of their picks with which i feel comfortable. made money sometimes and lost sometime...
    i even follow some of the people who post in the comments section and their picks are very good.

    I dont care for the fancy charts or video or whatever, all i care is if their picks are making me money or not.

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  28. turbo, I will think over about making my personal picks this weekend. I have to think if it is wise decision to do so.

    Each individual stocks move very differently. Some times they don't correlate with the market.

    If stocks with low volume trading, it can very easily manipulate by MMs.

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  29. stm, most sites are real biased on the downside right now. Why? Because the technical indicators said so. That is the problem.
    I don't know how long you have been reading my posts. I am neither bias on bull or bear.

    I don't know if you recall on Tuesday action this week. Lots of investors were saying it was a bear action that day. I mentioned it was bull action. I took lots of heat from it. Guess what?
    The market climbed from that point on Tuesday. I even warned the shorts to cover several times.

    My motto is this.
    "Take what market gives you, not what you think"

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  30. GCL,
    I came to this site just today, so from morning i was watching your posts and did not took any action based on them...

    i will go over the weekend thru all your past posts and will try to get a feel for your trading style

    one more link to my bookmarks...

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  31. Hi GCL, nice to be here. first time. do you have time enough to advise me whether to hold on to faz, ery etc over weekend or book some loss now?

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  32. stm, feel free to browse over my posts on archive section. You will be amazed how accurate my calls and targets except one. You can start with my very first post.

    I have someone said to me. "Am I from the future who traveled back in time to trade stocks?" Hahaha.

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  33. I am having a problem understanding your motto.
    "Take what market gives you, not what you think".

    When we are not supposed to think, then we should not set price targets. Don't you think?

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  34. Sure Mantra, basically, the motto is trying to say the market is always right, not what you think about the market.
    So, if the market gives me a price target to watch for, that is the target.

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  35. All, the stock market is closed on Monday.
    Enjoy the long weekend with your family.

    See you back on Tuesday.

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  36. stm, thanks for the list of sources...I just read so much within the hour I literally dozed off lol....

    gcl, I appreciate the consideration....you've been on point for the most part and it would be very interesting to see if your system/methods of analyzing the market is accurate and most important of all profitable....i doubt people will go betting their life savings based on a pick from a blog, it's mostly to help shed some light in finding good opportunities in this dark market...

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  37. Nice calls, enjoy the long weekend!

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  38. GCL,

    My posts earlier in the week regarding the lack of the market to respond positively immediately led me to believe the market was weak. Your methods and mine, although different, both said "up," but market failed to behave until Friday.

    This brought to mind an article from "somewhere" that suggested that we judge the market in an inefficient manner, basically by time periods --- 5 minute, 15, 30, 60, days, weeks, month. Our charts and osscillators are set to this method, but what we really should be using is 'volume', not time.

    Have you seen any articles or books or ???? about this idea?

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  39. hi GCL

    great blog.
    can u teach us your thoughts when u target a price.
    this can help us understand the market and your thoughts much better.

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