Stopped Out! $1 gain

Stopped out of NYX with a 1 pt gain. Not much...but it is better than a loss.

What a difference a day makes!

The VIX is spiking as real fear enters the markets off of the Bear Sterns news. I am going to take a position in NYX again which is at 59.70 as I type this. This is the 1st of 2 buys for me. I want to avg in just in case something crazy happens over the weekend. See you monday

Still....not much to do!

Sorry for the delay in posting..but I still am not overly excited about the long side for the moment. The vix has gotten out of its upper bollinger band but not by enough for me to take action. The triangle pattern resolved to the downside and while we are bouncing b/c of fed action and sentiment, we have not negated the downside break. I think there are some great values out there but I am sticking to my dicipline. I will post when I take action. The momo continues to the downside for now

Borrring!!!

I have not posted in awhile b/c not much is going on. We are consolidating into a nice tight triangle on all the indices that will soon break out. The rule is that these paaterns usually break out to the side of the trend, which is currently down. However, I am thinking that the break will be to the upside b/c of the level of negativity out there. I still hold FLML but am getting sick of that position. I continue to sit on my hands until something develops. I will post when I decide to take some action!

Closing OUT

Once again...earnings are just a gamble. I closed out the other half of my NYX @73. So I ended up making 1 pt. At least I took the other half off the table before earnings. Overall, it was a good trade. I am still holding FLML and waiting.

Taking half!!

Like I said in my previous post, I am taking half of my NYX postion off of the table going into earnings before the open on Tuesday. Out at 79. A good 9.7% profit but you never know going into earnings. Just updating

UPGRADE

We caught an upgrade on FLML this morning...continue to hold. Same goes for NYX(still holding). This market can whip you around so I do not want to be too trigger happy and blow out of winning positions so I would keep loose stops. NYX has earnings on on Feb 5th(before the open) so I am takingthat into consideration with the current position. Right now I am probably going to take off half going into earnings. Volume was huge last quarter so NYX should have blow out numbers but you NEVER know how the street will react, anyone who tells you a trade going into earnings is just gambling, not trading! I will update when postions change