September, 1999

For 09/30/99 Thursday $$ (Proft for september, approx. 300 points !)

From Globex, stop 1278.30, buying bias, target 1286 and 1289. At Globex, if it stalls at 1286 or it has problem to break 1289-90 after open, we would reverse to short for 1256-9 target before close. Otherwise, main trend is up. [At Globex, our trading range was fully covered. In the morning, we scalpped some shorts and did not make too much; one short was stopped out with 3 pts loss(the worst); we reversed to long at 1290 and 1292, took 1/2 profit @1296 and 2/2 profit @1300. Reversed to short @1300 and stopped out 1301; re-entered the short @1298 and took 1/2 profit at 1293.50, keep 1/2 short for globex; will exit breakeven.

For 09/29/99 Wednesday $

Stop for position trade: 1286. if it opnes at around 1300, there should be a profit taking sell-off, max. target 1287. After PB, reverse to long for weekend target 1323. Bottom line: A 10 pts gap down open is not allowed for this new trend UP. Exact stop for sell side and buy side will be available in WarRoom. (As long as 1282 holds on Wednesday, this correction is over.) [1282 has been our target for the whole day, but our stop level 1297.50 has been threatened for as many as 11 times; members made some profit, bottom line.. no one was on the buy side while a lot of "non-members" were long at the high.]

For 09/28/99 Tuesday$$$

Globex, once 1301 broken; it should test 1304.50.  Short side stay side line. For day session, 1295-96 should be tested one last time. Trading range 1295-1305. If open  above 1300, we would try to sell. Market should squeez up to test 1305 in 3-4 hours. If 1306.5 can not be broken in 4 hours, it should take out globex's low. If there is no gap down open on Tuesday, it would do it on Wednesday. DMD updated after open:Dow Jones should plunge 200 - 230 points; .... [We missed 91 sell, sold until 89, 87 and 86 for target 72-75 and 67-64, covered 82, and 78. Missed re-entry by 8 mins. Reversed to long at 72 for target morning gap filling, took profit @1281.50, missed re-entry 1272-76 area. Not perfect, but happy.]

For 09/27/99 Monday

Side line. If the opening is strong but there is no follow-up, market could plunge 2 more days. Not to mention a flat opening. Stop and target will be available after opening. [Made 2 trades for scalping, 1 breakeven, 1 took 1.50 loss.]

For 09/24/99 Friday $$ (Month to date profit 230-240 points)

Globex, stop 1295.70-1296, keep selling, target 1282. SA only sell at 1295-94.5, risk 1 pt. [We sold @1294 at globex, took 1/2 profit @1287 and 2/2@ 1293; missed short re-entry of 1294-95 due to failure of data feed; re-entered short @1293, took 1/2 profit @ 1290 and 2/2 @ 1287; missed the final hr sell-off 1293 for 1287 target.]

For 09/23/99 Thursday $$$ ( Month to date profit 210-220 points)

At Globex, we exited most of our long @1322-23 and will exit all if 1320.25 gets violated. Trading range 1315-1325, +- 1 point on both extreme. (1) stop 1328, selling bias, target the low end and reverse to long. (2)stop 1313.50, buying bias, target the hi end and reverse to short.  Both 1340 and 1305 are still valid before weekend.[In WarRoom, we changed  to selling bias @1314, with 1318-7 stop, covered 1290.50]

For 09/22/99 Wednesday$$

Globex stop 1327.7, selling bias, target 1308-11; today should be a reversal day for 30 points bounce before weekend. If there is no sign of bouncing, or the bounce is less than 30pts before weekend, the market is in trouble. We are selling 1/4 at globex now with 1327.5 stop. [We covered our short at 1317-18, missed the 2nd trip short; we reversed to long from 1314, 16 and took profit at 1326-28; re-entered long at 1323.50. Position: long]

For 09/21/99 Tuesday $$$$

If 1352 can not be violated at Globex, we would be reverse to short side for scalping for target 1338 even lower. Stop 1351, selling bias, target 1342-41 before 8:00 after open.  If market can not manage to reverse back up, lower target is exptected. [We said before yesterday's close that pay attention to 1352 and sell at Globex including SA.]

For 09/20/1999 Monday

This swing up is not over yet. Globex, stop 1347, buying bias, target 1362. We are expecting a gap up open @ 1357.  If the open is not a gap up and 1354.6 can not be violated at Globex, Friday's 1342 should be tested again. Dow Jose must close above 10900 for more swing up; otherwise it would be choppy for a couple of days. [We sold our long position @1356.50 at Globex,  1354 at open and 1349.50 at close; flat.]

For 09/17/99 Friday $$

This rally should extend into next tuesday. Just keep long for target 1358 and 1372. and even higher in next week, one condition --> 1343 must be broken on friday; stop 1332, buying bias, re-enter and adding level in the morning.[We keep our long position and did a couple of short scalping, pretty much breakeven; add 1/3 long position @1349.50 area and carry over weekend.]

For 09/16/99 Thursday $$$

Ready to have have some (1/3-1/4) long term position, Dow Jones' bottom should be at around10650-10750, only 10-15 points left for SP. For Thursday, stop 1327.40, buying bias, target 1347; but there is a possible 10pts spike down at open.  Since it could be a reversal day, stop and target will be fine tuned after open in WarRoom. BA ready to accumulate.[We bought 1317,1315,1313 and took profit @1325-27, 32-33; reversed to short @1337.50 with 1338.50 stop, covered 1/2 short @1334 and 2/2 @1330; still long a bit for long-term long; too bad... had missed the 1/2 part of the morning sell-off.]

For 09/15/99 Wednesday (CPI)$$$

CPI report at 05:30am, (1) otherwise stop 1347.40, buying bias, target 1367-70. If job# is not cooperative and 1357 can not be broken, selling bias for next target 133x even lower.(2) If it opens below 52 and can not break 53 in 30 mins, selling bias, target 1341. 1337 and even lower. [Long side took profit at open and we sold @1362-61 with 1363 stop, and covered 1357 and 1352; entered long @1351-2, took 1pt loss for stop-out; bought 1343-45, take profit @1349; re-entered long @1345-46, stopped out 1344; reversed to short @1344, covered 1340 and 1337-8. We did expect this plunge for tomorrow instead of today.] Not satisfied, but happy.

For 09/14/99 Tuesday  $$

This leg down is not completed yet. If 1365.00 holds at globex, then stop 1365.30, selling bias, target 1349-51 is still valid. After 1349-51, we would reverse to long for more swings.  We are still holding 1/3 short. [Globex high 1365 and It opened gap down at 1353.50, we covered our short at 1351-3]

For 09/13/99 Monday

Within 3 hours after open, stop 1363.00, buying bias (1364.00), target testing 1376.50. If 1377 resistance holds, we would be ready to reverse to short. [We were expecting it to be a down day, market opened gap down at 1363.00, our selling plan was missed.]

For 09/10/99 Friday (PPI)

Waiting for PPI report; otherwise two scenarios: (1)  stop 1357.60, buying bias, 1st target 1367.... (2) For sell side, stop 1368.80, selling bias @1367.40, target 1333 before Monday open. DMD might be updated again after PPI >> 06:40AM DMD update: Market will drop below 1369 before 7:00, we missed the selling at open. [Due to the gap, we only scalped some.]

For 09/09/99 Thursday $$

DECEMBER CONTRACT- SP99Z: If open below 1360, stop 1364.70, selling bias, target 25-30pts plunge before weekend; then ready to reverse to long for swing up.[stop 1364.50, we sold @1362-63, took 1/2 profit @1357-58 and took 2/2 profit @1351.00]

For 09/08/99 Wednesday $$

Tuesday low was not taken out before mid-night, we covered 1/2 short @1353.50. Stop for sell side 1357.80 now, still selling bias, target 1339-41; and ready to reverse. [We covered 2/2 at open and sold again 1353.50, 1354.50, 1356-57 with 1 bail of 1355.50.]

For 09/07/99 Tuesday $$

If there no gap down at open, it should be volatile after open and close at high. Stop 1358.50, buying bias, target 1368 - 1372. If 1364 holds for Monday night,   ready to reverse before end of Wednesday for at least 25-30 points. [We sold at open @1360 and @1361.50; covered 1/2 @1357 and 2/2 @1353; re-entered 1/2 @1354.50 with stop 1355.00 valid for globex]

For 09/03/99 Friday $$

Side line for unemployment report, otherwise this leg up is not over, stop 1317-8, buying bias, target 1333 then see if reversal is feasible for target 1315. Basically, it should be volatile. BA should be able to make 2 trips. (Have a nice long weekend.) [Keep long.]

For 09/02/99 Thursday $$

Wednesday's rally should extend into open, targat 1338. If reversal is feasible, stop 1338.70, selling bias (@1337.5-38.0), target 1325-26 before close. Mid-night e-mail update: Sell at open + - 10 mins @1337 area. [Too bad, it was a gap down open, otherwise it would be an excellent short for a down day.BA long from 1311 and 1316 and exited @1323, re-entered 1/2 @1319.]

For 09/01/99 Wednesday $$

Trading range 1311-1331, buy low, sell high. Stop 1317, buying bias, target 1328-31 then see if a reversal is feasible. If open is a gap-up , we might try to scalp short side for 60-90 mins for 1318-21 target. [Opened in the middle, we sold 1327, covered 1/2 @ 1323.50, 2/2 @1327 breakeven.)

 

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