Wednesday, August 1, 2007

CrazyMarket and 2 Order Entries

Short MGG 29.92 (32.32) - 34shares=1017.28
Buy AGN 61.12 (56.23) - 17shares=1039.04

UPDATE ON CURRENT HOLDS!!!
First, ASF . I didn't check to see if there was an earnings call. I don't like to play them since it is more or less gambling. Wasn't intentional and will try harder in the future to prevent this. I want to put the stop in at 38.

Second, if SII is down at the close tomorrow we will get out. It is always a suspicious sell off when a price, in this case oil, hits an all time high, like the equity indexes, and sells off DRAMATICALLY - a character trait not beneficial for traders.

I reiterate the long NG and short USO on a more long term basis. It may have started today quite dramatically. Remember these are commodities so there shouldn't be normally dramatic swings in a spread. But there can be, I encountered them myself.

MARKET IS FINISHING BOTTOMING PROCESS HENCE VOLATILITY. UNLESS YOU HAVE CONVICTION ON THE POSITIVE OR NEGATIVE SIGN--STAY AWAY--UNTIL THINGS WORK THEMSELVES OUT!!!

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