Tuesday, February 28, 2006

Going long- QQQQ

Bought QQQ CO (March 41 Calls) for $0.70. RSI 5 is calling to go long the Q's. RSI -5 below 20.
Trader Tyler

Friday, February 17, 2006

Trading short the Q's


RSI 5 signaled a short on Thursday in the early part of the morning and although the market seemed to be going higher, it never did. since then the market has come back as RSI 5 predicted (short term of course). One more good move down and then it's time to close the profit.

Tuesday, February 14, 2006

Market moving up

The market moved up nicely today after a down day yesterday. I did not get in a trade as the RSI-5 did not signal a buy signal. It got really close at 28, but I wanted to see at least 26 to get in. Near the end of the day I did get a sell signal, but I also watch the ADX trend and currently it's showing a strong buy. I will stay out for now.
Trader Tyler

Thursday, February 09, 2006

Closed for a profit

Q's continued moving up this morning and I closed out my option trade at $1.35. A nice 66% profit move.
Trader Tyler

Still in the Trade

Yesterday I went long QQQQ calls (Feb $40-QQQBN) and kept the position on overnight. My trading system is getting VERY close to indicating that I close the position. The RSI 5 topped above 70, and now I'm just looking for a crossing of the simple moving averages. The moving averages cross is a method used to squeeze a bit more out of the trade. But I'll be looking to end this ride at a moments notice.
Trader Tyler

Wednesday, February 08, 2006

Market's on the rise

It appears the market is in an oversold range and today we are getting a nice little upmove (except for ENG on my list which has slowly dropped from around $13 to now just under $11). The RSI -5 method triggered a long call buy signal yesterday. I bought the Feb. $40 calls for $0.90. My original stop was $0.80 but I've moved it up to $0.95 now. (QQQBN trading now at $1.05/$1.10).
Trader Tyler