AirForce one Fly's over New York

Apparently only the FAA knew about the government plan to Fly AirForce One over New York City. Nevermind the millions of people in the City that were scared and ran out of there businesses and left there trading stations as there was a report there was a 747 flying over New York City. Why would AirForce One need a Fighter Jet escort if it was just a "Photo Op" with the Statue of Liberty?
AirForce One is in the Air flying right after the report of the Earthquake in Mexico.
Mayor Bloomberg has every right to be "Furious" over the Fly Over, because no one in New York was informed. Is the government hiding the truth from us? What the hell is going on Today?

AirForce one Fly's over New York

Apparently only the FAA knew about the government plan to Fly AirForce One over New York City. Nevermind the millions of people in the City that were scared and ran out of there businesses and left there trading stations as there was a report there was a 747 flying over New York City. Why would AirForce One need a Fighter Jet escort if it was just a "Photo Op" with the Statue of Liberty?
AirForce One is in the Air flying right after the report of the Earthquake in Mexico.
Mayor Bloomberg has every right to be "Furious" over the Fly Over, because no one in New York was informed. Is the government hiding the truth from us? What the hell is going on Today?

July 18 OPEX Friday 9AM reversal

I took a short on NQ around 8:30am but it didn't fall; however, YM dropped 45pts during the same time period. This had me worried, so when I saw a potential bounce setup in YM I exited my NQ short.

Right after 9am, SMH (tech sector ETF) broke and NQ dropped sharply catching up with YM's decline.
I'm not sure if the 9 AM hour has significance, but it may with the overseas markets closing, so in the future I will track this time period on future OPEX days.


A Choppy OPEX as usual. I'm mad about my NQ trade, but I Hit my goal for the day so I'm done. I'm working on refining some indicators as a result of seeing Richards new Volume splatter indicator.



Here's a long scalp I got on ZB when I saw what looked to be a top in the stock indices.


This is a picture from my Simulated account. Remember a few months ago when I made the Poll asking if AMR was a buy at $7.00. Well I held that position for 2 months and actually closed it out for a profit today. I also made $3,000 this week trading 1 contract on YM and ZN, one of my best short term swing trades I've made in the simulator in such a short period. Over 350pts made in YM this week with just 2 trades.

The Oil and Airline Pair Trade unravels

What better time to Unravel this long standing trade between airlines and Crude Oil then OPEX week, a week characterized by extreme moves with options expiring on Friday.

Crude Oil started the week above $146 a barrel and is now at $130 a barrel. A $16 drop in 3 days. Meanwhile the airline sector has rallied hard the last 3 days in direct relation with the drop in oil prices. AMR is up 70% in the last 3 days alone.

July 16 Airlines Rally

Crude Oil sold off on inventory numbers and airlines rallied hard even after AMR reported a 1.45 billion dollar loss for its quarterly earnings.

The dow Rallied when Oil tanked off its inventory # at 10:30am EST.

I was long 3 contracts on YM before the oil spike lower and YM popped. I also got some good scalps shorting the 30yr bond futures contract. The 2yr (ZF) has been relatively strong compared to the longer bonds.

Airlines Screwed

Interesting to see some airlines with unusual option volume today and then seeing this headline after the bell. "Airlines pay $504M to settle price-fixing scam"

100% LONG until Years End

The Media has found the people to Blame at Bear Sterns. Last time we played the blame game for the Stock Markets problems was January 21, I remember this day well....
Whenever we play the Blame Game, THE MARKET RALLIES HARD.
We also got strong selling in commodity related,,,everything. Makes me feel a little better;however, Crude Oil is still in its 10 day trading range even with todays 5 dollar selloff.
I agree with what Stewie sees in the markets here. Depending how the market shapes up here, I'm prepared to start trading Airlines Long, Ag's Short, Crude Short, Long Financials, Long Transports. The bounce in the airlines today still may be premature to call a bottom, I was kinda-of waiting until August to see if any bankruptcies in the airlines were going to be announced, but now may be the time to start trading this inverse pair relationship.