Closed QQQ position. Long puts on IBM, SLB and CSCO.
The market keeps moving up despite talk of possible correction in the near term. On QQQ chart, the last hour surge repeated again.
Tag Archives: Long
Mixed Day
DOW closed higher @ 9,062.79 with intraday high of 9,215.88 while NASDAQ was trending down all day to 1,627.42 (-18.59).
Gain on shorts and loss on longs.
Long 20 QQQ June 30 Call @.90 over the weekend.
June 4, 1989
On June 4, 1989, the Chinese government brutally crashed the student-led democracy movement by military force.
The days and nights of month-long hunger strike and following days during the martial law are still vivid in mind.
The ambulances … directing the traffics and guarding the life lines along the Changan street …
The low flying military helicopters … blocking the subway stations … the buses with flat tires sitting in front of subway entrances … the rumors that the troops are in the subway tunnels …
The AK-47 automatic gun-shots heard from all directions and tracers seen in the sky … the tanks and APCs speeding from many directions … the fires in many places … the waves of moving troops from the darkness behind the large buildings along the Tiananmen Square …
The PLA assault team raiding the monument in the center of the Tiananmen Square where we stayed until early morning on June 4 … the tanks crashing into the camps …
The long withdraw back to the campus … the deaths of fellow students … the silent rainny nights except hearing gun fires from distance … sitting on the roof top at Tsinghua …
The hopelessness … the angers …
…
May the fallen heros rest in peace!
Microsoft CEO sold 39 million shares…
Long MSFT calls: it held right at support level @24 and both BB and stochastic at extremes after a week of selling fuled by rumor of insider selling – it turned out that Steve Ballmer sold 39 million shares.
Long LOW, IBM and CSCO calls: expecting bounce from recent drops.
Correction or Reserval?
DOW dropped 185.58 to 8493.39 below 8500. NASDAQ closed @ 1492.77 below 1500 and Russel 2000 closed @ 408.32.
LOW dropped almost 9% due to lower than forcasted revenue. The short position opened Friday went up more than 130%!
SOHU closed with bearish harami candle posing to reverse at almost twice of average volume.
MSFT broke down the trading range and support level is @24. The long position will be opened @24 level.
Support level IBM @ 85 and CSCO @ 15.5.
OAKMX and LSCRX: the remaining positions will be closed tomorrow.