3.5 point. 2 point on short and 1.5 on long. 1042 was the session’s low.
Tag Archives: Low
ES
1.25 point. Two shorts at 1057.25 and 1057.5. Covered both at 1056.75 before GLOBEX nightly shutdown. Original targets were set at 1056.5 and 1056.25, but it’s not worth of uncertainty leaving the short position over next session. Session low was 1056.25. There were fills at 1056.5 at this writing, but my order was not at the head of the queue anyway.
QQQ
Since it broke its long term downtrend in last November, QQQ rose rapidly from low of 20 to near 28, then it was in a trading range for 4-5 months. In June, it broke out the range. The next resistence level is around 34. With recent run up, it may go sideway for a while before charging ahead to the resistence level near 40 provided the overall market condition is improving. The current support level is at 29 and 25 is the major support level.
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!
How to short Bond market
If you think the bond market is close to its top, you might consider shorting it. How? Here’s one way to short bond – buy this Rydex Juno fund (RYJUX) (annual expense ratio 1.4%). The downside risk is that the interest rate may go even lower or stay low for a while. The upside is that the interest rate moves higher.