The new website is up and running at www.slytrader.net

Ok, it's official the new website is now up and running.I will no longer be posting here anymore and all new posting will be done at www.SlyTrader.net

Thanks to all that have been regular readers here and I hope that you make the transition over to the new site as we continue this journey as traders.Thanks also to TraderEyal and TraderMike for any and all help they have given me in getting started and also making the transition to my own domain.Much appreciation!I also ask those that may have me in there blogrolls kindly change they're links to me over to the new site,thanks to those that have and thanks in advance to any that will. I will still leave this site up for now until I am done moving any old material over to the new site,but any updates and new material will be done at SlyTrader.net

How Much Is Your Blog Worth?

This was kind of interesting and fun.What does it mean to me?Absolutely nothing at the moment unless someone comes along and wants to buy my blog. ;-)Maybe in the year 2014 when the Google Grid comes it will mean something,when everyone is a freelance writer.Just a thought.

My blog is worth $3,951.78.
How much is your blog worth?

Lack of Volume

This market seems to be holding up by a thread right now.I just don't see the volume needed to sustain this move up.I've been having some computer/dsl issues last few days so I haven't had much time to post.The new site is up and running,I'm just trying to get some of the basic material from this site on it,and then I'll start posting to the new site.I'll let everyone know when that will be,most likely next week with the other issues I have to deal with for now.

Visit the new website,home of my own domain. :-) SlyTrader.net

Thursday 10/20/05

What a move right back down today in the futures and indices.A total retracement of yesterday's up move.Big moves of this type usually portend a bigger move coming,the question is in what direction.I'm hearing everything from big liquidators to options expiration,Oil,it really doesn't matter why,what matters is that as traders during the day you are on the right side of the moves.I chose to sit today's session out and get some much needed rest,as I've been under the weather with the a cold.(No not the bird flu.)Just my bi-yearly chest cold due to higher allergens in the air.I hope everyone had a good trading session,remember tommorrow is expirations so be cautious.

Wednesday Trading 10/19/05

Wow,what a reversal to the upside.The S&P futures came off that low of 1174,closed the morning gap and just took off.I'll bet that surprised some shorts.I did manage to get a couple plays off to the long side there,but nothing like I should have on a 24 point swing like that.I guess eventually you have to start paying attention to some of the good news going around.

Trades Today

NEW short at 31.76 covered 31.28,30.99,30.85,30.80 for +.48,+.77,+.91,+.96

Had a few winners and losers in SYK,but they were pretty meaningless.

NEW long at 32.00 sold at 32.20,32.25,32.30 for +.20,+.25,+.30

NEW long at 32.40 sold at 32.65 for +.25

Those last two I really should have capitalized on a little better,the market was running hard and so were the stocks.All in all it was a good day.The bulls really took over on that one!I think the Oil report had a little to do with things,but that doesn't really matter now does it.Trade what you see!! Good Trading all!

Wednesday 10/19/05

The S&P futures have gapped down as yesterday was a very weak close.I have to think a lot of bulls might throw in the towel here for a capitulation down,but we'll have to wait and see if we get back above the gap or not.

Trades Today

NEW short at 31.76 covered at 31.28,30.99,30.85,30.80 for +.48,+.77,+.91,+.96 That's more like it. I don't usually take trades this early,but this one was calling my name and I had to execute.The specialist showed up right above me after I entered so I had more of an escape exit than thought at first.Then the orders started coming down and as it thinned out I took my exits.Good Trading all!

I'm still working on the new website,but if you want go ahead and take a peek here: SlyTrader.net

Update:11:00am NEW made a nice reversal back up.Looked ok long at 31.35 I just didn't take it unfortunately. Oh well can't get em' all.S&P futures have filled the gap with a little help from the EIA statistics on Oil inventories which came out with a supply above consensus for crude.

Tuesday Trading 10/18/05

Looks like the bulls ran out of steam or maybe they're just full of it.(just a joke)The S&P futures broke through the 1189 level to trade down to 1181.70... Not the kind of action the bulls would like to see.

Today's Trades

NEW short 32.91 covered at 32.60 +.31
HIB long 28.78 sold 28.75 -.03 (that's what I get for trying to play long)
HCA short 49.24 covered at 49.15,49.17 +.09,+.07
NEW short 32.37 covered at 32.11,32.16 +.26,+.21(that's more like it)
ASD short 36.52 covered at 36.40 +.12 (terrible exit,traded down to 36.02 with huge orders chasing down,very frustrating to let that one go)

I'd be very surprised to see anyone trying to step into this down move in the next few days.But then again the market is always full of surprises.A good shot above 1189 in the S&P futures again would get this thing back up,otherwise I'm looking for another continuation down a little further. Good Trading all!

Tuesday 10/18/05

The S&P is in a range this morning of 1192.60 to 1189,we'll have to wait and see which way this thing plays out.It is options expirations week,so be cautious out there we may see a lot of whipsaw action.I've only had one trade thus far in NEW short at 32.91 covered at 32.60 for +.31 winner.I'll be light on posts this week as I'm working on the new website.Good Trading!

Friday Trading 10/14/05

I had a few more trades today,but nothing significant.The SPZ5 finally got above the 1185 area and trended higher through the afternoon to close at 1191. That's what the bulls needed to see to step in,who knows how long it will last.

Todays Trades

RIO short 39.75 covered 39.75 for a flat.
RIO short 39.68 covered 39.54,39.45 for +.14,+.23 (great entry bad exit)
RIO short 38.01 covered 37.83 for +.18
RIO long 38.85 sold 38.95,38.10 for +.10,+.25 (great entry bad exit)
RIO short 39.57 covered 39.68 -.11 (ouch,but had sized down,no real damage)
RIO short 39.65 covered 39.41 for +.24
Had a few more,but they really had no effect on my day,and I have to leave. Hope everyone had a great week,and enjoy the weekend.I'm hoping to work on the new website this weekend.
Good Trading all!

One more thing...

I may be starting a new website where I can actually organize the postings better than I can here on blogger.If anyone has any suggestions on names(I'll have to change the name) I'd like to hear your input,or anything else you want to suggest,if anyones intersted that is.

Todays Market 10/14/05

SPZ5 futures hovering around that 1185 level that we need to get above for a short term bounce/rally.My trading has been pretty mediocre this morning.I had a great entry short on RIO covered for a flat,then re-entered short at 39.68 (the top) covered at 39.54 and 39.45 for +.14,+.23 . Then it drops even more,and I totally miss it,so I short one more time at 38.01 covered at 37.83 for +.18 . I should have captured that entire move easily,but I just wasn't focused.As traders we must leave everything else in our life at the door when we walk into our trading rooms.We'll see what the rest of the day has to offer,even though I'm up it's still frustrating to have missed all that free money. :-) Good Trading.