Tag Archives: Market

SOHU

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SOHU closed above the 20SMA in average volume. It looks good to break the resistence at 30.

I will watch it closely this week and plan to close half of the position if it crosses 30 intraday to book some profits in case it pulls back below 30.

The current open interest in Mar 30C is 7,839, which is not very big. I’m not sure how market markers will play near expiration days (roughly two weeks away). For premium sellers, they would love to let Mar 30C expire worthless and they can sell Apr 30 C and 35 C again.

Inflation

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The CPI rise and Japan’s terror alert obviously spooked the market a little.

Curent Position: SUNW: -0.30 (added more); LFC: +0.86; CHN: +2.03; SOHU Mar 30C: -0.10 (added more).

It’s a up day …

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Obviously the job report is not too bad and things are improving in the job market. The market reacted positively.

Both CHN and LFC went up more than 3%. SOHU closed up at 29.05; Mar 30 C is selling at 2.40 now. ACH went up 9.2% today!

ES

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I hit my head when missing the spike 1131 to 1136! It happened seconds after closing a long position. After lunch, a short worked ok although the target was set at 1135 missing half of the plunge. Oh well, I was not watching the market anyway.

Increaded LFC position. It’s moving down lately. Likely it may find support at 25, its IPO price.

Closed SUNW position. I may reopn it when it breaks out or continues building base around 5.5 level.

ES

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On an option expiration day like today, the market was pretty choppy. Taking quick profits is prudent. The long tails and shooting stars on the candles caused a lot of pain.

I scaled in some 401K money into mid-cap and foreign funds today. I expect the market will be going higher a little while with recent good earnings from INTC, YHOO and GE alike.