April, 2001

Attempt trade for 04/30/2001 Monday $

If 1256.50 is intact at Globex, try to trade buy side after the opening. Stop 1256.50 (day session only), buying bias,  expected day high 1275 (or spike 1278) is valid. Expected close 1260. Since there is a wild card 1230 close, watch out for afternoon sell off. DMD update when market reversed to 1267: stop 1270, selling bias target 1245. [Result: Globex low 1258.50, day high 1274.75 and rversed to 1248.50, closed 1253-4 as expected either 1260 or 1253-4.]

Attempt trade for 04/27/2001 Friday $


Two scenarios: (1) For buy side: If 1235 is holding at Globex, it will bounce again. Stop 1233, buying bias, target 1260.

(2) For short side: if it opens gap up, then try to scalp short side one more time within first 30-45 mins. If 1233-1235 holds, ready to reverse to buy side. We prefer buy side. 

DMD update after the open: Stop 1244, buying bias, target 1266-70 on Monday. [Result: Globex low 1238, day high 1258, closed 1258]

Attempt trade for 04/26/2001 Thursday $


sp/m will test 1249-1252 and profit taking sell off.

Dow Jones will test last week high and take it out by ticks; then profit taking sell off again. [Result: Globex low 1225, day high 1254, close 1240, Our direction was right but got stopped bout at 1229.75 on buy side.]

Attempt trade for 04/25/2001 Wednesday $


Aggressive trade: At Globex, stop 1224-1225 stop, selling bias, target 1209.50 before 8:00 AM. We will not consider a buy without the violation of this stop level. If it opens at 1223-4 area, stop 1225, try to scalp short (risk 1 ~ 1.5 point only), target 1210. If this stop level is intact within first hour after the opening, more sell off before Thursday opening, target -- fill the April 17 gap. Once a reliable support is found (likely 1290), we will reverse to buy side. For 121x to be the support, 1225 stop must be broken and sp/m needs to stay above it on hourly close basis. Otherwise reversal for back up should be on Thursday. [Result: Globex high 1223.50 (our stop 1224-1225), day low 1213; after 11:00 market broke out 1224 trend line, close 1231.]

Attempt trade for 04/24/2001 Tuesday $

Support 1215-1218 area (spike 1209). Ready to buy again. Conservative traders: Wait to see where the open would be.

Aggressive traders: At Globex stop 1236.75, scalp short side risking 1 point only, target 1226, then 1220 before 8:00AM PST. Expected opening range is 1230 area. [Result: Globex high 1237.25, opened at 1229.50.]

Attempt trade for 04/23/2001 Monday $

Friday's pull back is not low enough, but spike to 1266 is valid before 7:45 AM. If it opens at this 1265 spike level, scalp short side again for 20 points (1266-1246). DMD morning update: Target 1226 is valid and it would be a down day close.

Aggressive traders can try to use 1246 stop at Globex, with 1 point only risk. If 1253.50 is intact after mid-night, this 1253.50 could be stop again for Friday low testing; if 1236 broken, then 1226. If it opens gap down, then short side trade opportunity will be gone. If it does not gap down, it should at 1240 area.) [Result: 1253.50 was intact after mid-night and opened gap down at 1242; day low 1222, closed 1226]

Attempt trade for 04/20/2001 Friday $

Main trend is still up; but profit taking sell off is around corner.

At Globex, Aggressive traders: (1) Short side: Stop 1268, scalp short side, first target 1248, then 1443. (2) Buy side, risk 1256.75, risk 1 pt only target 1357.) (Otherwise, wait until 6:30am) If 1240 can not be broken, violent pull back is not possible. If sp/m opens gap down again, it will be hard to short. DMD after the opening: Stop 1259.50, scalp short side.  [Result: Globex high 1267, and morning opened at 1253, day low 1237.]

Attempt trade for 04/19/2001 Thursday $ 


(1) If Globex high 1259.50 is intact, then Stop 1255.25, selling bias, first target 1240, then 1230. Aggressive traders: STOP 1253.75, try to short with a couple of points at Globex, target 1240. [Result: Globex high 1253.25, low 1237.50]

(2) If 1259.50 is broken before the opening, trading strategy will be posted in the room.

Attempt trade for 04/18/2001 Wednesday  $$


Before April ??, trend is up, stay on buy side and buy dips for NQ target 2000. A lot of analysts keep talking about Dow 6900 or NQ 1000, ...etc. Just ignore them, because these numbers are just not relevant for 2 weeks.

At Globex, sp/m opened gap up at 1208. Target 1218 (possible spike 1225-1228, if market hits this level at globex, take profit immediately.) Pull back target, around 20 points from any high.

DMD opening update: DON'T SHORT !! If Globex high 1217.50 is taken out, stop 1211, buying bias, target 1228-1232. If you are long stocks, take some profit, just don't exit all; because 123x is valid now. [Result: Globex 1217.50 is taken out. The moment surprise rate cut came out, we called buy buy buy more stocks for scalping 2-3 pts.]

Attempt trade for 04/17/2001 Tuesday  $$


Before April ??, trend is up, stay on buy side and buy dips for NQ target 2000. A lot of analysts keep talking about Dow 6900 or NQ 1000, ...etc. Just ignore them, because these numbers are just not relevant for 2 weeks.  No matter what would happen at open, sp/m must go back above 1180 within first hour in order for up trend to be intact. target 1108 and spike 1118. (It can not be below 1170 at any hourly close; otherwise this 4/25 short term up trend will be in doubt; then we would go back to short side again.) Hourly close = 7:30, 8:30, 9:30, ...,etc.)

DMD update afternoon: Stop 1185-1188, buying bias, tomorrow will open gap up at 1208-1210 area. [Result: Market bounced above 1180 within 30 mins, day high 1200.50, closed 1195.50; afternoon, Globex opened gap up at 1208.]

Attempt trade for 04/16/2001 Monday  $$


Target 1208-1218 is still valid, if it can not make it today, it would do it Tuesday-Wednesday. Profit taking sell off could happen on Monday. Don't exit all long position before 4/25. 

DMD Update at open: Stop 1195, risk 2 pts selling bias, target 1183-80; Wild card: target 1173-76 area. Expected close either 1187 or 1180. [Result: market opened gap down and rallied to 93, then plunged to 83, afternoon it plunged to 1173.75 and bounced to 1187 followed by a 5 minutes plunge to 1176, closed at 1182.]

Attempt trade for 04/13/2001 Friday Holiday

Attempt trade for 04/12/2001 Thursday  $$$

<sp/m> Still buying bias. Don't exit all long position before 4/25.

Stop (position support) 1160, buying bias, next target 1208 spike 1218 before next Tuesday open. [Result: Day low 1163, high 1194, close 1192]

Attempt trade for 04/11/2001 Wednesday  $$


Before April ??, trend is up, stay on buy side and buy dips for NQ target 2000. A lot of analysts keep talking about Dow 6900 or NQ 1000, ...etc. Just ignore them, because these numbers are just not relevant for 2 weeks. 

Update at open: Stop 1189.50, selling bias, target 1172-1171. [Result: Market opened at 1193, after 1189.50 violation, we posted "top 1189.50, selling bias, target 1172-1171"; day low 1166.]

Attempt trade for 04/10/2001 Tuesday  $$


<sp/m> Aggressive traders: At Globex, 1148 stop (risking only 1-2 point), buying for target 1159-1160, before 8:30. Update at the open: Change the buy side target to 1179-1182. Expected close either 1179 or 1173. [Result: Globex low 1149.50, day high 1182.50, close 1173]

Attempt trade for 04/09/2001 Monday  $$


DMD update at the opening: Put aside Sunday's DMD aside. Stop 1149, selling bias, target 1142.50. Then Stop 1155.50, selling bias, take 1/2 profit at 1149-50, take 2/2 profit at 1145-43. [Result: opening high 1146, plunged to 1141.25; 2nd trade top 1155.50, low 1142. Missed 3rd short.]

Attempt trade for 04/06/2001 Friday  $$$

<sp/m> Re-entered at1154.50 before Thursday close, take 8-10 pts profit first at globex. (Globex hit 1165.25 at 16:00, our limit order 1164.50 filled, 10 pts profit banked.)

00:20 Mid-night update: WATCH OUT, The pull back from Globex is too violent. Hold off stop 1150 buy. Try 1148 stop. If this 1148 stop is broken, more profit taking will step in.

DMD update after job report:  Stop 1149, selling bias, target limit down 1128. [Result: Open 1145, high 1147.50, low 1126.50]

Attempt trade for 04/05/2001 Thursday  $$


Without employment report, sp would be still buying bias for 1132 target (spike 1138) on Thursday and 1150-3 (4/2 gap) on Friday morning.

<sp/m> stop 1116, buying bias, target 1132. DMD update after opening: Stop 1128, buying bias, target 1149-50, then 1156. 

<NQ/M> Stop 1350, buying bias, first target 1430, then 1470. [Result: Globex low 1121, open 1137, high 1161, close 1155.50] [ Re-entered at 1154.50 before close, took profit at 1164.50; Globex hit 1165.25 at 4:00pm]

Attempt trade for 04/04/2001 Wednesday  $$

Ready to reverse to buy side. At Globex, it should bounce 10 pts (resistance 1118) then test low before reversing back up again.. Stop 1103, buying bias, target 1133 (high-low, 30 points) Aggressive traders: Stop 1118, scalp short, for 10-13 points; try to reverse to buy side. [Result: Morning high 1117, plunged to 1098.50, then reversed to 1123.]

Attempt trade for 04/03/2001 Tuesday  $$$

Preliminary target: limit down at 1124. 

Aggressive traders: short at Globex with 1155.50 stop, target 1124 for Tuesday. Conservative traders: can only risk 1 pt at Globex.

Wild Card: 1112 before close. [Result: High 1153.50, low 1107.]

Attempt trade for 04/02/2001 Monday  $


There is no good stop level for either side. If Friday's sp/dow strength came from window dressing, there should be a sell off within first hour of opening. Morning Update: sp/m Target from last Friday's bounce is 1183-5 and a reversal will follow for 1160, 1150 testing. [Result: Day high 1178.75 only, low 1146.]


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