Tuesday, September 02, 2008

TATA

http://www.businessweek.com/globalbiz/content/aug2008/gb20080829_140882.htm?campaign_id=yhoo

doing in CHINA ALL THE TIME…….here at least they let their anger out….people getting screwed

**BIG REVERSAL DAY TODAY.....up 200 to REd.....maybe they will try again. I am in SDS again into close with tight stop. With OIL closing down HUGE (though recaptured $110) and Gustav not as bad as many feared, the opening bull run was impressive? I kept watch of up volume where it peaked oN NYSE near 70%.

MY VIX CHART SHOWS UPTREND HERE INTACT.....should be interesting week.....action last half hour to hour more important maybe than first hour...

Duratek
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2 comments:

Anonymous said...

I WOULD DISAGREE, the first hour gave ultimate trade location at resistance, the second best trade location was from 1290-1295 (second volume cluster), the third best trade location was at the next volume cluster (1284-1289) we are at support at the 1275 close. We have been bouncing off of that level many times. A short at the low carries high risk with limited reward? yes? I wouldnt be surpised that we back and fill tomorrow and chase stops. If you sold the high at resistance, your stop is much better placed, and your reward is much better as you can trail the stop if the market doesnt continue downward. There was actuall buying into the close, the market had a hour and 15 minutes to make a new low, but closed 5-6 points off of the low. If the 75's fail, the 60-63's offer good support also. So at the better case senerio with perfect timing and a bit of luck with a stop placement you have 10 pts of reward with a point or so of risk(in terms of the ES.) If you sold at the first consolidation between 11-12am, you could have gotten the mid 90's with less risk because we already sold off of resistance and 1275 was a known target, and 1260-63 after that.Once the second volume cluster developed in the mid 80's, there was no more risk in the trade with a trailing stop. Dont get killed by a thousand paper cuts buy putting your stops close based on money. They should revolve around probability of risk to reward and support resistance area's, i think that will serve you better in the long run. Good trading to you.

2:25 PM
Anonymous said...

http://www.tradingmarkets.com/.site/Daytrading/Commentary/wmgame/02272006-49692.cfm
"Having read Mark Fisher's book "The Logical Trader", I wanted to see the odds of the market making its daily high or low during the first and last hour of trade. The results were interesting. I found that the daily high occurred during the first or last hour three-quarters of the time. The daily low occurred during the first or last hour approximately 60% of the time. Equally interesting, the midday hours only saw daily highs or lows approximately 10% of the time, although they accounted for one-third of time in the market."

Last hour sometimes referred to as "smart money"
http://traderfeed.blogspot.com/2007/06/stock-market-performance-by-hour-of-day.html (stock mkt performance by hour)

The final component is the Dow's performance during the last hour of trading. Rennie Yang of Market Tells notes that this has been weak of late, which he interprets as caution on the part of the smart money. We can see that the last hour has underperformed over the last two years. About a quarter of the Dow's overall gain since 2004 is attributable to the last hour of trading; since 2005, however, the Dow's last hour has actually lost money.

3:13 PM

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