Premier Utilities Trust Share Discussion Threads

[energyi] 16/11/2004 17:04

I bought some FTSE puts.
Now about 20-25% in profit.
Plan to take some profits near 4700, if we get there soon.

Then wait and see if we get a clear right shoulder

[torturedsoul] 16/11/2004 17:02

mkearns

yep,

on www.ino.com

link is "US $" on the right hand side of the page.

[wonging] 16/11/2004 17:00

s&p's below 1140 and i think my hat could relax as i would be seriously thinking of calling for a pizza, but so far today, it looks likely that this sell off will not bear much fruit unless we have a fair sized consolidation

#:-o

[mkearns] 16/11/2004 16:49

OK got it

(DX, NYBOT)

Right?

[mkearns] 16/11/2004 16:47

Thx, what's the chart symbol?

[torturedsoul] 16/11/2004 16:45

mkearns

US $ index

[mkearns] 16/11/2004 16:06

TS, what chart are you looking at for dollar bottom?
Are you looking at fx pairs or dollar index?

[torturedsoul] 16/11/2004 15:50

looks to me like that was the top

downtrend line from the all time high held on the dow

ndx 2004 high wasnt cleared convincingly

nyse is now seeing heavy selling

and...

we have opt ex coming up with max pain below current levels.

about the only thing we're missing is the dollar breaking out of it's downtrend but it looks like it's putting in a bottom on the daily chart, so it might not be too far away.

[wonging] 16/11/2004 15:21

kvu, lets see if the fat lady really does sing now, im trading the s&p's and looking for this breakout to become a fakeout, but prepared again to eat my hat!

#:-o

[kvu] 16/11/2004 15:03

Looks like i totally screwed that one up......dam it. hehe

[wonging] 16/11/2004 12:35

cboe total 21 dma p/c ratio is now at a 7 month low, actual is now at a 9 month low, seems let down a little though with a vxo at 14.21, i feel 13 would have given the case much more strength, but were also sitting above max pain on quite a few major indicies, so if the writers are offside we could easily see downside from here

comments?

[kvu] 15/11/2004 19:40

Well in regards to the QQQ's.

Again we just saw another three wave correction with the volume on the buy side picking up as the final part of the correction ended, so it seems another high or a double top around 38.85 needs to be made. Its hard to tell if this was a fourth wave correction with a fifth smaller wave up to complete a larger fifth pattern itself. The fact that the nas made a new high today, but the qqq's haven't is puzzling. It seems like more waiting is required.

What would be good is if this correction down (time 19.30pm UK) could turn into a larger three wave pattern so a final fifth wave up pattern could begin to help with a more affirmative top calling process.

[energyi] 15/11/2004 16:56

I still think FTSE will peak first.
We may have seen it today- but no impulse DOWN move,
so probably not.

I like the Jan.4875p near 100p (paid 103)

[kvu] 15/11/2004 16:13

Need to keep an eye on sox and smh to see if we can get a sell signal. I am playing the qqq's as a tracker to the nas to a nice liquid one to trade in and out of if things go wrong as they did today.

[torturedsoul] 15/11/2004 16:05

that couldve been the top just there.

pretty fierce rejection of the previous ndx high of 2004

[energyi] 15/11/2004 16:01

Bought a few FTSE puts when it was over 4800.
The top "may" be in on FTSE, but too early to say with any confidence.
So I am keeping most of my powder very dry

[trumpet] 15/11/2004 15:47

e,

PAG could be worth a look again.

[kvu] 15/11/2004 15:45

yup mine either......well i wasnt looking to give back more than 15% of my total profits for the month of november and looking at this.....the options i bought were looking too dodgy with the action on friday and the volumes behind it. So i have closed out on the opening dip and taken a loss of $0.18 per contract. Not a killer.....just need to re think this play. There will be plenty of time to jump in latter when the situation looks better.

[mad mac] 15/11/2004 13:44

hmmm - my position not looking to hot with Friday afternoon's strong action.

[kvu] 12/11/2004 18:57

Added to the QQQ $39 Dec PUTS today at $1.10 and also traded in and out of the QQQ $39 NOV PUTS thats have a high beta value due to the closeness to time expiry. The price movements are nearly entirely reflected in the option pricing when dealing with the closer strike in the money options. MER coming along nicely.....the jan puts look interesting now actually, but may wait a little longer still for the $58 target.

[mad mac] 12/11/2004 14:14

I use IG Index shorts too; the convenience of their online system, the tax-free profits, and the fact that I have good credit with them all make it worth paying a fractionally higher spread.

I often 'cover' the cost of buying a Put option by selling an out-of-the-money Call (reasonably short-dated) with a similar price, for example Dow Dec 10750. In the unlikely event that the index reaches 10750 between now and expiry, I can simply cover by going long the Dow future - the spread on the Dow is low and it seems to be quite cost effective, although obviously you have to set stops in case it breaks 10750 and then comes tumbling down again.

[energyi] 11/11/2004 22:06

I still think have at least a few days of upside ahead.
Watch for FTSE-4800 and Dow-10600 to be tested