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MEMC Electronic Materials Inc. Message Board

  • ggrrrowll ggrrrowll Mar 5, 2007 9:29 PM Flag

    Darth - your thoughts on the QQQQ's

    Since the QQQQ's closed slightly below your point of 42.25 (or something close to that) how negative do you view this?

    Oh yeah, SONS took a spanking today. I was expecting this last Thursday and had begun to think it wasn't going to drop. Then WHAM!!!

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    • For daytrading, about half of my big gains come from trades I enter in the first hour of the day. Typically for stocks with specific catalysts like earnings....half entered at the open when they don't gap and I can sneak in first, and half when they gap about 20 minutes after open when they tag the lower bollie. Another 1/4 of the daytrades big gains come when a stock breaks an opening gap or pivot point later in the day, and another quarter when a news note hits the tape or cnbc and the stock pops.


    • So are you like a grandfather now? Yikes - you seem so spry!

    • For the students among us, 'bopping the gaps' would mean....?

    • My daughter hung out with Amy Gross in elementary school in many years ago.


    • The first hour is also where the daytraders make all their money too so I hear! I follow one poster on another board who trades ICE the first hour - I think all she does is bop the am gaps!

    • What do you mean by knowledge advantage? Most info that you have access to, millions of others do as well so what advantage do you have? OR do you follow local companies in your area in which case you would have access to info others don't ie parking lots, activity you can see physically.....

      I noticed you do follow quite a few OC type biotechs and startups...thanks! I am surprised you don't hang out with Bill Gross in Newport!

      Is trading stocks your full time gig? What were you in a past life? You seem to have a broad impressive knowledge base.
      My background is advertising...
      BTW Kudlow has Herb on the hot seat as I write this...Herb is trashing the SOX now ..Mr University of Miami does not like the inventory story....

    • whoa talk about a pressure cooker situation - I applaud your abilities - I am still learning to trade options so for now I would be looking at long opportunities - I am printing this out as I think it shows good thinking/strategies. Thanks ACE...

    • Twelve,

      I swing trade, day trade and scalp in my trading account. Anything I can do to make money. Of the etf's, I focus on the QLD and QID since I analyze the Q's. I'll trade anytime of the day although the first hour is usually amateur hour.


    • I don't play the Q's on the long side. I prefer individual stocks where I have a knowledge advantage versus the market.

      The last time I played the Q's was the morning of the follow through day on August 15th. You could smell the power of the move early, and I had to get long quick as we were leaving for our Sedona vacation that morning. For that trade, I sold everything else and went with Aug Q calls one up from the price...we were in the low 37's so I went with about 10k worth of Aug 38's, and I paid a nickel up to the ask because the truck was packed, including children and cats, and I had to leave. Not something I would recommend for normal trading situations.

      Now it's entirely different on the short side. For shorting, I will use the QID. When I want to go short, often the individual names you want to short do not have availability of shares. Also, I always limit position sizes of shorts to no more than a 1/2x position. Buyouts scare me. If I want any type of large position short for a specific name, it has to be with puts as the downside is limited. When you are trying to move quickly, QID is much easier to use.


    • I am only playing stocks long if they have a specific short term catalyst...for instance ICON has earnings tomorrow...and I am limiting any long exposure overNITE until we get an IBD follow through day. I don't need to participate in any morning gap ups. I am playing stocks long intraday, but not staying in them at close if there is not an upcoming catalyst.

      On the short side, sort of shifted out of my puts and into less leveraged short positions, as the market is oversold and the volatility has risen dramatically. For the Marches, time decay is also going to start soon and if we get a weak rally the shorter puts will get killed.

      I am waiting for a bounce to reset my short positions at resistance with Apr expirations. It's a short the 50 day resistance and short the breakdowns for me.

      Mostly cash now as I took profits this morning.


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