Wednesday, May 6, 2009

Whew, the "Stress-Tests" are OVER!

Leeky Leeky

Who cares about making them "official" now anyhow?
Maybe those were not the REAL numbers? (lol)

Who knows, I am glad to have the stress tests behind us though, because the news and hype, I mean it was like the only thing on tv at all, going on and on and on and on. Geez.

When things like this stress test this come up, I said before to me it's best to play heavy cash and watch the gyrations and trade OTHER things or nothing at all.

Gamestop was a nice one today, considering the entry trigger was >30 yesterday.

Trades of this week I brought up, to me, are over with here. Congrats if you made lots of money in either or all combined as a hedge. (spg was the one loser, but the call was as a hedge combo, so I can't help ya if you just picked only one out of the bunch ya know, wasn't the intent) The reason I like to call "hedge" trades, is that the market direction does not have to be "spot-on", as long as the difference in the positions is profitable, so are you and I.

About the Stress Tests, I suppose the point I am trying to express is that when everyone is watching this "one thing"...there are always still OTHER trades out there, to include no trade at all.

I did purchase a small amount of FAZ may 5 calls right at the close. I had wanted to wait till one more pop and AFTER the stress test results. Well we got basically got those both today. Even though I like FAZ here, that's not something I would "call" up on this blog, because it's way way too speculative and to high risk to "recommend" to others. But sometimes ya do deserve to "treat" yourself. So I used exactly HALF of my profits in my GME puts (which was a 48hr double) for which to do so.

I am totally out of all my plays of "this week".....all of em.
I am in 98% cash, and 2% FAZ calls.

I don't think the spx crashes to new lows soon or anything. But I do like the risk/reward here on FAZ for the near short term. (again, not enough to go bonkers on or even regular size on)

I am going to post my stockcharts watch list publicly here soon, but I wanted to get some feedback, as what is the most beneficial to others.

a) Index's only? (60min, daily, weekly)

b) Stocks I am watching and what set up i would like to see BEFORE potential entries?

I figure that pretty much everyone has the index charts themselves (i hope they do if they trade!) So would it be more beneficial to post stocks I am watching, so then when i see set ups possibly developing, I can just add them to my "public" list?

c) something else totally???? If so let me know your feedback. Thank you

I am not going to post 250 tickers, because I look at these charts every night so I know what I am looking for, but it's too much to keep updated, hence I am asking what's best or most beneficial. Let me know

Besides the TM trade, I will be posting next week's idea's likely tomorrow evening. So far, that's all i need in pushing things when you are not sure if it's time or push or not.


  1. doc thank.
    sorry that you will be leaving for korea. hope your online time stays the same we all benefit from your bright mind. i have been a stockchart junkie for a year now. here what appeal the most
    1) post basic indices, qqq, spy, dji, xlf, bkx, dj tranport, vix. do 5 min, 15, 60 , daily.
    2) Do a sample bell weather from each. aapl. your fav goog. bac, jpm, f, pfe, pg.
    3) do double etfs, ddm, sso, sds, qld, qid, faz, fas.
    i think once you have above setup you will be able to satisfy 80% of lurkers and they will vote for you.
    good karma doc. i do feel you should put doc or dr in your id. it is unique combination.
    there is a famous trader who is also a doc. i met him at a roadshow on trading by TD Ameritrade. cool.
    good luck

  2. thanks for the feedback

    Maybe I will do one for indexes, and one for "watchlist" w/ the REITS, FINANCIALS, etc differant dow sectors.

    2X and 3X etf's??? I don't think those will be up there, i don't even trade those based on their own charts.

    so ya think index, bellweather, etf's
    , not random set up stocks?

  3. Erik,

    Showing some charts of potential stocks would be great for a beginner like myself. This way I can "see" different TA setups that I can look for in other tickers. Being able to look at a chart that someone with your skills has posted as a potential trade would really help us beginners. Thanks for all your effort. Good luck. Rhino from the SKF board.

  4. muathe, maurice walker, kenny post 30-40.
    one thing i forgot to mention is indicators.
    rsi, macd, adx, sto. these are the main ones.
    random stock do not catch my fancy.
    most importantly post what you like and what you have studies well. i think tech stocks in your case

  5. Erik,
    A sampling of stocks you're watching for
    potential long/short positions with
    entry/exit points along with their charts would be best IMHO. Precisely in the same vein as your recent posts on TM, FEED, LCC, SPG, WFMI etc. Thanks for your fabulous efforts all along. You're rendering a great service to all!
    best wishes..

  6. Anon, ok thanks.

    That is what I would like to do, and also i think i will include the basic indexes as well.


    Then from all the tickers i review, i will just have a seperate list for "watchlist" and when set ups "start" to apear to form will add them to that watchlist.

    So there will be 2, index and watchlist.

    so far, that's the way i am leaning.....

    sounds like the most beneficial, i think