Dow to 6,000?

Some say 6,000 on the Dow will be the bottom, some say 4,000. Each day we go lower more pain is felt by "buy and holders". People are asking when will it turn around?

The economy lost 681,000 jobs in December and another 655,000 in January. February saw the highest job loss since late 1983, as employers cut another 651,000 jobs.

Since the recession began in November 2007, the economy has lost 4.4 million jobs. What is surprising is that more than half of the job loses have occurred in the past four months. President Barack Obama said "This recovery plan won't turn our economy around or solve every problem,,, All of this takes time and it will take patience."

Dow to 6,000?

Some say 6,000 on the Dow will be the bottom, some say 4,000. Each day we go lower more pain is felt by "buy and holders". People are asking when will it turn around?

The economy lost 681,000 jobs in December and another 655,000 in January. February saw the highest job loss since late 1983, as employers cut another 651,000 jobs.

Since the recession began in November 2007, the economy has lost 4.4 million jobs. What is surprising is that more than half of the job loses have occurred in the past four months. President Barack Obama said "This recovery plan won't turn our economy around or solve every problem,,, All of this takes time and it will take patience."

Apr 15, Tax Day, Gap up with Bearish open

I expected a bullish morning today, but the market decided to chop and drop for the time I traded. I've got work early this morning, so I'm leaving trading early today.

I filed my taxes yesterday. I waited until the last day to turn them in because I had to pay around $10,000 from the money I made in the market last year (the majority of my profits that I so fortunately lost all in 1 day,,,January 21). Paying these taxes off has given me a feeling of relief. I'm now preventing from having more stupid mistakes like this by taking out a certain percentage of my trading profits every month so I will have money that will go towards paying off taxes in case I blowup again. So far, no blowups. My goal this month is no blowups, and to be profitable everyday, even if the profits are small like they are today. I also put in a letter with my tax returns, electing for Trader Tax Status. I'm not sure how Trader Tax Status works exactly, because it's vividly described in IRS tax documents, but I think it would be of benefit to me, so I can make tax deductions next year for all my trading business related expenses.(ie computer, news feeds, software, etc.)

Here's a link about Trader Tax Status. (thanks to Tapeworm)




Averaged in 50s at a time on FSLR long, looking for retest of highs.
Got a good base buy signal on JNJ and got stoped out for 13 cent profit.
Bearish open after small gap up on the indices.

Apr 11, Bearish Day with Gap open lower

Today I sucked again. I had a hard time holding onto my shorts, (I covered too soon on my NQ shorts). Anyway, I need to work on my rules and signals more in conjunction with market internals. Also, I need to work on risk management on proper share size/contract size for a given setup. Overall this was a tough week and I feel I should have made more but I screwed up by trading against some of mysignals.


Bearish NYSE TICK readings almost all day

A clearly bearish NYSE A/D line, as soon as this turned lower at 12, short trades had smooth sailing into the close.
NQ and Tech lead the way down.
I got lucky buying the last signal of the day.
I guess I should have held that AAPL short from yesterday, DAM.

Apr 9, somewhat bearish day

Looking at the market internals after the open, you could see we were setup for some bearish trading going into the day

NYSE TICK readings were bearish most of the morning.

I got 1 good short scalp on NQ that I covered too soon on around 10:20am.

I avg'ed into a 100 share loser on GOOG around 462, it dropped 2 dollars on me. I exit the loser around 460.4. I keep watching this stock sell off everyday. Should have shorted it yesterday.

A clear trend down most the day.
Bonds were due for an upside breakout and were helped out by the weakness in the US Dollar.