[Hisam135i]

Originally Posted by rallysport

Any of you guys have an opinion on where oil is going? I feel $90 is resistance, If it breaks past it might run back up to $100, but I don't see why it would unless something worse happens in Syria or Iran

Are you trading futures or something equivalent of USO?

[rallysport]

Originally Posted by Hisam135i

Are you trading futures or something equivalent of USO?

No, still learning with commodities so it's just in a practice account. Trying to see if I can ever figure it out or not. Judging by what I thought would happen today, still have a lot to learn lol

[Vanity]

Originally Posted by Hisam135i

USD index fell through it's support at 83 what do you guys think small rally coming in the next two days?

When USD broke 83 last week it didn't look as strong as it should have. Correcting down now, this should give a bit of a boost to markets but USD has some solid support coming up being in the 81-82 region.

These days I'm just day trading in and out for a couple thousands here and there, it adds up for the whole month. I'm just waiting for more strong technicals to scream buy or scream sell. Just going to hop in and out with tight stop losses to capitalize those premiums instead of losing anything. Sam what do you normally trade? I'm a volatility VIX-orientated trader. If you're looking into this stuff we can discuss more on PM and I can give you some headers.

[Hisam135i]

Originally Posted by Vanity

When USD broke 83 last week it didn't look as strong as it should have. Correcting down now, this should give a bit of a boost to markets but USD has some solid support coming up being in the 81-82 region.

These days I'm just day trading in and out for a couple thousands here and there, it adds up for the whole month. I'm just waiting for more strong technicals to scream buy or scream sell. Just going to hop in and out with tight stop losses to capitalize those premiums instead of losing anything. Sam what do you normally trade? I'm a volatility VIX-orientated trader. If you're looking into this stuff we can discuss more on PM and I can give you some headers.

Sounds good, I mostly trade the financial sectors using options. After my last loss, I'm going back to my old strategy, which has always worked for me flawlessly. I just wait for a good technical setup on 1,5, and 15min chart, than buy approx. 200 contracts, put or call, make 4-5 cents on my option and get out. Results in a 600-800 profit a day including commissions. Honestly IMO day trading is the way to go in this market, to unpredictable right now for more than one day trades. I've been really interested in the VIX market, but dont really know enough about that sector.

The vix market is defiantly a very profitable sector If mastered. But, I feel it will decapitate someone not following it for long enough (me).

[Vanity]

Toilet flushing.

I bought UVXY at the Friday close at $7.25. Very happy ATM.

[Hisam135i]

Originally Posted by Vanity

Toilet flushing.

I bought UVXY at the Friday close at $7.25. Very happy ATM.

very nice! I just finished up my morning trade! Actually made my money off of a call on Citi lol made my 5 cents on my option and got out would have been nice to get a 14%+ return like some people here

[Vanity]

Originally Posted by Hisam135i

very nice! I just finished up my morning trade! Actually made my money off of a call on Citi lol made my 5 cents on my option and got out would have been nice to get a 14%+ return like some people here

Actually, I sold at 8.60 so it was closer to 20%

Waiting ATM to see if it's worth another re-entry for the week. My take is that if it's going to be a bloodbath, we're going to have to see some big moves downward. Now, all over the world we have that, but the current dip-rally is coming up on very very low volume. Friday we saw some huge volume, so I suspect that's the institutional and commercial players already getting out. Something tells me the low volume today is just a small reprieve before more bigger down days. Hrm.

On Friday the VIX futures spread had hit a 3.00 difference and the 25% spike today in spot vix brought the spread down to as low as 0.65! The closest we have been to getting towards a hint of crisis like last year.

Update: currently day trading this baby till I'm resolute on a position at the close. But I just purchased it at 8.20 and it's 8.30 ATM. Might sell at a whim.

[Hisam135i]

Originally Posted by Vanity

Actually, I sold at 8.60 so it was closer to 20%

Waiting ATM to see if it's worth another re-entry for the week. My take is that if it's going to be a bloodbath, we're going to have to see some big moves downward. Now, all over the world we have that, but the current dip-rally is coming up on very very low volume. Friday we saw some huge volume, so I suspect that's the institutional and commercial players already getting out. Something tells me the low volume today is just a small reprieve before more bigger down days. Hrm.

On Friday the VIX futures spread had hit a 3.00 difference and the 25% spike today in spot vix brought the spread down to as low as 0.65! The closest we have been to getting towards a hint of crisis like last year.

Update: currently day trading this baby till I'm resolute on a position at the close. But I just purchased it at 8.20 and it's 8.30 ATM. Might sell at a whim.

I definitely foresee more downward movement this week. Look at stochastic on daily chart for SPX, a strong momentum shift just occurred and we have a long way to fall!

[Vanity]

Originally Posted by Hisam135i

I definitely foresee more downward movement this week. Look at stochastic on daily chart for SPX, a strong momentum shift just occurred and we have a long way to fall!

Man o man is it ripe for the taking today! Just sold that UVXY position at 8.38. A cool 2.2% bonus in an hour. time to wait for this hint to reset lower, but so far it's cycled twice from 8.2 - 8.4 in the past hour or so. I wonder what the next cycle is going to bring. Sam you enjoying the market tides today? And I will get to you on that PM about VIX. Was out for the weekend!

[Hisam135i]

Originally Posted by Vanity

Man o man is it ripe for the taking today! Just sold that UVXY position at 8.38. A cool 2.2% bonus in an hour. time to wait for this hint to reset lower, but so far it's cycled twice from 8.2 - 8.4 in the past hour or so. I wonder what the next cycle is going to bring. Sam you enjoying the market tides today? And I will get to you on that PM about VIX. Was out for the weekend!

Sounds good! hope you had a good weekend and its been a great morning Just have been toying with Citi bank all morning switching between puts and calls, taking 4-5 cents each way

[Vanity]

Originally Posted by Hisam135i

Sounds good! hope you had a good weekend and its been a great morning Just have been toying with Citi bank all morning switching between puts and calls, taking 4-5 cents each way

What's the 4-5 cents in percentages?

[Hisam135i]

Originally Posted by Vanity

What's the 4-5 cents in percentages?

Around 3-5% each time of what I have invested in the trade usually do around 1-3 trades a day

Update.. Placed an order on JPM for 200 contracts Calls @ 33 strike expiring on 27th of July, when it was $1.28. Wasn't enough volume, so i was only able to pick up 11 out of the 200 contracts. Then the price jumped to 1.39.. that was depressing. Sold the 11 contracts barely getting a nice profit, but still a profit I guess

[Vanity]

Originally Posted by Hisam135i

Around 3-5% each time of what I have invested in the trade usually do around 1-3 trades a day

You don't need to learn VIX

[Hisam135i]

Originally Posted by Vanity

You don't need to learn VIX

hey the more strategies the better hahaha

[Vanity]

Haha well Sam go take a look at the CBOE website and find the vix futures page. In the morning when spot vix spiked, the premium reduced from 3.00 to only 0.6. However, it's now 1.81 and that typically favors XIV over UVXY more for tmr. All in all, I made 8 trades today with a 100% win rate, so I can't complain! Took a small XIV position for tmr, I'm thinking we get a flat to small up day, maybe intraday reverse later. Btw, GDP this Friday. It's going to be around 1% IMO, but est. are out for 1.7%. The win for that trade will be whether it turns into a good trade because of Tuesday's FOMC, or just plain ugly all together.

[r0wr]

20th: descending triangle on the 15
23rd: bear flag

conclusion: chances higher of more down ahead.. but what do i know? i wish i could participate guys. CFA is kicking my ass

[Vanity]

Went short UVXY 3 minutes before the markets closed. AAPL missing earnings has made me 7% already. Let's see what tomorrows trading brings, the WSJ rumour is already factored in. I remember when they said the fed was on the cusp of buying MBS's for the June and July meetings. Ha.

[Hisam135i]

Originally Posted by Vanity

Went short UVXY 3 minutes before the markets closed. AAPL missing earnings has made me 7% already. Let's see what tomorrows trading brings, the WSJ rumour is already factored in. I remember when they said the fed was on the cusp of buying MBS's for the June and July meetings. Ha.

Nice! I made my money today off Citi and JPM puts. Got rid of everything by around 10am pacific time, was a nice morning!

[ejheverest]

I'm still in Aug 1335 PUT- SPX x 4 contracts
End of the week, I'll be looking at selling and rebuying Sept. Expiration's.

[Vanity]

Originally Posted by ejheverest

I'm still in Aug 1335 PUT- SPX x 4 contracts
End of the week, I'll be looking at selling and rebuying Sept. Expiration's.

Oh nice, have you been able to make some good money off those? And what's the theta like on options that far out?

[ejheverest]

I am not day trading my options, I just have them since I needed some downside protection on my 401k account.
I never hold my options into expiration, always buy one month out or more.
-.53 Theta as of this morning.

[Vanity]

SPX been trying to break that 0.5 level at 1344 all day long. Considerable resistance up there. Now it appears to be undergoing a second rejection of the day (first one took the SPX down 12 points thereafter). This does not bode well after an AAPL earnings fall, and it appears the market has run it's course. Tomorrow should be down if this keeps up.

Update: The low volume today is intriguing.