So my account showed the $10k that I transferred yesterday. Nice, more buying power.
So I began my day trading by shorting the sp500. i was up $350ish. decided to close my position and msg yin. go back to check and shit, my NLV is fucking moving! instead of closing my position, i bought another short and was like whoa. lucky for me sp500 continued down and i was up about $550. i decided that's it for today. but i got greedy and started trading again. shorted sp500, and then the chart showed a breakout upwards and it started jetting up. i quickly closed my position and i basically day traded a bit to earn my money back. towards 2pm, i had about 2 open shorts and covered just enough for a tidy $312.50 net profit. checked back later and sp500 rallies. i think it was the Fed:
good thing i stopped trading after that.2:35 pm : The major indices climb to their best levels of the session. The New York Fed has announced modifications to its new Term Securities Lending Facility (TSFL). The TSFL auctions will now allow schedule 2 collateral, instead of the schedule 1 collateral previously proposed. Schedule 2 collateral will now include collateralized mortgage obligations (CMOs) and AAA rated commercial mortgage-backed securities
In other words, the Fed will be lending banks highly liquid Treasury securities in exchange for less liquid assets. Banks will now be able to use a wider range of collateral than previously announced. The first auction will take place on March 27.DJ30 +202.60 NASDAQ +36.41 SP500 +21.77 NASDAQ Dec/Adv/Vol 1116/1660/1.90 bln NYSE Dec/Adv/Vol 1004/2120/1.77 bln
might short on monday. tomorrow's good friday. no trading; it will be a slow day to pass.
i'll post trades tonight.
edit:
trades
| 3/20/2008 11:38:12 AM | FUTURE | BUY | /ESM8 | 50 | FUTURE | $1,306.50 | |||||
| 3/20/2008 11:36:04 AM | FUTURE | BUY | /ESM8 | 50 | FUTURE | $1,308.00 | |||||
| 3/20/2008 10:11:57 AM | FUTURE | BUY | /ESM8 | 50 | FUTURE | $1,312.00 | |||||
| 3/20/2008 9:54:16 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,313.50 | |||||
| 3/20/2008 9:22:19 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,309.50 | |||||
| 3/20/2008 9:15:34 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,307.25 | |||||
| 3/20/2008 9:00:44 AM | FUTURE | BUY | /ESM8 | 50 | FUTURE | $1,308.00 | |||||
| 3/20/2008 8:54:34 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,302.00 | |||||
| 3/20/2008 8:42:05 AM | FUTURE | BUY | /ESM8 | 50 | FUTURE | $1,297.00 | |||||
| 3/20/2008 8:40:52 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,298.50 | |||||
| 3/20/2008 8:30:26 AM | FUTURE | SELL | /ESM8 | 50 | FUTURE | $1,304.00 | |||||
1 comment:
Don't be overly bearish now :)
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