Friday, August 12, 2011

SDS at 24.20

began layering in SDS at 24.20 and changing chart from 15min to 10 min... between a Full Moon, A Friday, fear of holding, Whipsaw action based on weekend holding fear of "whatever."  although my loads are in 500 share lots I am limiting my loss to $500 - $750 WTF! I have been in positive territory since entry - I hope my timing is right

@$24.62 Update 2 hours later w/ 1 1/4 hour to go

 + $.42 X "x"M -
Has now retraced to the 24.48VWAP support? And Support (at VWAP (blue line) up to 24.63 The market is "tensioning-up" with one hour to go before the weekend
In this next chart (one hour to go) the yellow line (S+P 500 of which SDS is 2X inversely related) is trying to turn up while SDS is returning to the VWAP) touch and go here... off to make lunch for the last 1/2 hour
The Volume for this last hour has doubled 
the price is toying with the VWAP @ 24.50.
At the end of the 1st 15min of the last hour the price has moved up to 24.59 - at this point the automatic trading - Intense computers - without operators will be taking over - and will have their way with this bitch. At this juncture with 40 minutes to go the market has been fairly flat for the day - after the 400 and 500 pt swings over the past few days will this be an end to the whipsawing as we have seen or is there some magic play to happen. VWAP = "Volume Weighted Average Price" and this price has been holding just above it. 
This next chart is 1/2 hour to go. with a slight trend up and is at 24.62 holding +$.40
just after this chart the price has moved up to 24.72 and my horse is in the lead for the "home stretch"  Out at 24.62 +.42X4M+=$1.680M
There was 20 minutes left I'll post the final chart next.

Closed at 24.55

This is what I do for a living - this trade was equivalent of 2X short the S + P 500 - This trade was watched by me for 4 hours after the market was open for 2.5 hours - waiting for the "feel"