Premier Utilities Trust Share Discussion Threads

[energyi] 30/11/2004 15:57

Kvu
I am too busy with this week's mining conference
to consider short term trading. I want to take some profits today,
if I am in front of the screen at the right time. But I will retain
some puts. And may just Long the SPX futures to lockin profit

[wonging] 30/11/2004 13:29

kvu, yes ndx been looking strong recently, lets see if it holds up

[kvu] 30/11/2004 01:38

Hi W

SPX looks interesting, but the QQQ's and hence the NAS just dont seem done and witht the first of the month just round the corner and that being such a bullish time, I am kind of weary to go short other than for 5/10 points here and there. Lets see...I want to see what happens over the next few days. Good luck...Best KVU

[wonging] 29/11/2004 23:48

kvu, added another today at 1179, its getting interesting....

[kvu] 29/11/2004 21:22

Energyi.

Look at the $41 qqq puts for Dec as a scalping or short term trading instrument. The intrinsic value is nearly all of the option premium so there is hardly any vol or time value added. The open interest is high as well so liquidity is good too.

[energyi] 29/11/2004 21:06

Picked up a good number of puts on Friday, near the early close.
They are nicely in profit today.

I believe today's low will be retested soon

[kvu] 29/11/2004 16:22

The way the market seems to me is that wave 3 up in a larger 5th wave just finished at todays high and now the fourth wave correction is in progress. I am hopeful for higher highs or double tops towards the end of the week. I managed to get a small short in at 1188.75 on the ES futures but came out when the gap closed from friday at 1179 as I was expecting some resistance in that area. Lets see how the week plays. Can't argue with just under 10 spx points.

My wave count is for the QQQ's as this is what I play longer term with options. Looking at the fall of the spx this afternoon and that of the NAS it seems like things are a little too hairy for the qqq's to ever go back and touch 39.60, but stranger things have happened. I will wait and see as I still think it has an excellent chance of doing so. I am not looking to long any rallies so I remain safe in that respect.

[wonging] 28/11/2004 11:54

added another spx short @ 1185, soon be able to walk under a snakes belly with my top hat on!

;-)

[kvu] 26/11/2004 17:09

Closed out QQQ puts for +0.10 and closed spx short for +2 as I am thinking a better short may show next week when the fund managers buy the market at the start of the new month. Time decay over 2/4 days might make the options a tad cheaper as well so here's me wishing all a good weekend to see you all here bright and late Monday afternoon.

Best

KVU

[kvu] 26/11/2004 16:30

Took an SPX short on at 1186.75

[kvu] 26/11/2004 14:54

Took some january $41 QQQ puts at 1.90.....might trade out of those if I get the chance before next wednesday as I expect a final high medium term when fund managers get their new inflow of cash for the 1st of the month.

[energyi] 24/11/2004 20:26

Rolling over before Thanksgiving?
How rare, how interesting... if it happens

Later:
No rollover yet.
Friday should be another low volume day

[kvu] 23/11/2004 19:20

Hard to tell whether yesterday's low on the spx was the completion of an abc move down and then the rally that ensued was wave 1 back up with a sharp wave 2 correction down today. The current rally looks strong and its hard to ignore as anything but a wave 3 up........lets see

later 19.30: SPX makes new high for the day......so was it a wave 2 correction down and this a wave 3 up?

[energyi] 23/11/2004 16:17

Added to my puts a little while ago, catching that early bounce.

All thanks to this chart

[kvu] 23/11/2004 16:07

Tried to buy dec puts on QQQ's but only got filled on half my order. Taken a quick profit, but cant do that too many times as I am limited to the amount of day trades I can put through with my broker due to US regulations with stock and option trades.

[energyi] 23/11/2004 10:38

Hi Wonging,
Not seen you much on these boards recently

That is interesting:
10,500 x 4.04%= 424 points

[wonging] 23/11/2004 10:29

over the past month the cboe equity 21 dma p/c ratio has plunged 25%, this has happened on six occasions since 2000, of the six occurrences, five saw the oex move an average of 2.26 percent lower within the first five days, stretching this out to 10 days, the oex averaged a decline of 4.04 percent!

[kvu] 22/11/2004 23:24

Mr E.

haha....its like one of those tv programs that say "these stunts are performed by trained professionals...do not try this at home"

Stoic

Better luck next time.....what I dont understand is if you think the market is going to move in a certain direction then it would be easier to make money out of in the money or at the money rather than out the money options unless you are buying a large amount of contracts because they are so cheap when they are out the money. I think if you are doing that then you are going to be taking big risks with your capital as each play will be based on large movements which seem more like gambles rather than trades. Just my view.....

Be well

KVU

[stoic warrior] 22/11/2004 21:56

Good tactic, E.

[energyi] 22/11/2004 21:53

Whoops.

I for one, dislike trading out-of-the-money options,
especially those of short maturity because I usually find that they lose
time value too quickly.

How I have been trading...
The options I bought last week went into profit on friday's move down.
For some of them, I hedged the increase in value, by purchasing the
underlying:

EXAMPLE:
I bought a share price Jan.1185p, it increased in value,
and late Friday after the big drop, I bought the SPX future at 1167.
After today's rise, Isold out today around 10 points higher, so that profit
is now in the bank, and if the market drops again tomorrow,
I may buy SPX futures again
at a lower level.

[stoic warrior] 22/11/2004 21:42

kvu - point taken ... within 15 minutes of taking that OEX position I cut it ... volume,trin, MACD, RSI, they all started pointing to a rise rather than a fall. I took a small loss on it. But I accepted that risk given the prospect for a large win on that short dated, low imp. vol. option. I am flat on short dated trading positions both sides of the Pond going into tomorrow.

[kvu] 22/11/2004 21:17

People be careful of shorts at the moment......looking at the action over the last couple of days with the falls etc as my charts tell me that the QQQ's could be showing patterns of another rally to come. I didnt have the opportunity to post this afternoon as I was locked out of advfn for some reason as it kept asking me to upgrade my subscription to enter, but I dumped my jan puts on the qqq's and took a healthy profit on all my MER puts as well.

I am going to be keeping a close eye on things tomorrow and like i said....i didn't really want to be short going into thanks giving and the new month so I was looking to cover my short term shorts on the falls this week anyway....but because of the way we put in a curved bottom, things indicate to me that the risk for upward movements are too big to ignore. Out of the money puts therefore should be played with even more caution.

[stoic warrior] 22/11/2004 17:38

Mad Mac - I just entered a similar trade via my US acct ... spread 15 cents, transaction cost 15 bucks ...

OEBXH OEX Dec 04 540.000 Put S&P 100 INDEX
Last Change Bid Ask Volume
2.00 +0.05 1.85 2.00 2,318
Day high 2.00
Time/date of last trade 12:19 PM ET
Unit of trading 100
Day low 1.55
Open interest 14,764