QQQ rose today from the sharp drops in the two previous trading days. A big surge in the last hour pushed it back into positive territory.
Tomorrow will be a choppy day after TI trims its outlook for Q2.
Tag Archives: Trading
Hitlist
I read Hitman’s Hitlist quite often. It’s a interesting saga of love affair, trading, and many things in life.
The market went up a bunch today after consumer confidence and new housing start data was released. DOW ended @8,781.35, NASDAQ @1,556.69, Russel @427.71 and S&P @951.48.
Targets: IBM @90, CSCO @16.6, MSFT @26 and LOW @42 (gap down as resistence).
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.
Swing Trades 401(k) Portfolio
I learned from co-worker that our company’s 401(k) plan allows end-of-day trading. Previously I thought it would only post transactions once every month, which would make swing trade very hard. My plan is to select a few mutual funds as trading vehicles and swing trade them. Holding time will be weeks or months. The goal is to catch big trends. All cashes will be swept into GIC fund accruing interest daily.
Sold 30% position on OAKMX at DOW resistence level 8500; OAKMX follows DOW closely; sell 1/2 position at next level 8700-8800 or if current uptrend reverses. Hold LSCRX which follows RUT closely. It’s still in uptrend.