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Hey everyone, I am rested relaxed and ready to go this week. Now what is in store for us this week. Well it’s a toss up there is really nothing to bring us down, so we need to keep a mix of different positions and be light on our feet. I do expect at this point we might see 1150.75 before we see 1020.

Should we open up weak tonight we could trade down to 1075 area, but that doesn’t seem to be in the cards. On any weakness this week I will close I will close most spy puts unless I see major weakness. (which could happen) it’s all about the $ and if Ben and Company are to hint at a rate increase sooner than later, or even raise interest rates (although the probability of that is next to none) their language will be key! !Any strength in the dollar most likely will be weak for equities.

Personally I think we chop around till traders see what Ben & Company come up with this week.

Now here is a chart of where we are in the EUR/dollar as of now

EURUSD

on the buy side

FAST
GRMN
HMC
NVDA

on the sell side

DZZ
GAP
IEF

Plan on a Monday that is most likely a whole lotta nothing until the FOMC minutes are out :) love peace

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  • lester
    I reshorted SPY at 1096. Gonna hold overnite.
  • mmTesla
    Taking off 1/2 at 1095.75
  • mmTesla
    which = closed out completely, ended slightly positive, oh well tmro will be fun. SHould be down hard
  • BloodWine
    I hope your right about down hard tomorrow. I'm holding short overnight, but hedged everything at EOD
  • mmTesla
    I think so, still new predicting these things. I love using a hedge, so fun, its like playing for free :)
  • BloodWine
    I can't get into the Trader's Lounge. Anyone else having a problem?
  • mmTesla
    How goes it B-dub?
  • BloodWine
    Hi Tesla...
    Everything is good here... had a great day. We miss you on OBB :)
    Love the avatar!
  • mmTesla
    Glad to hear everything is good :). I miss it too, but in my solitude I have learned a lot. Got a lot of good info to share after it has proven itself.
  • Brian_mk
    me either.. whole site is down for me.
  • BloodWine
    hmmm... it's down again
  • Brian_mk
    that's what she said... lol ... it's the server having issues, I'm sure Ted is working on it as fast as he can.
  • BloodWine
    me too, but I was just able to get back in
  • Onorio
    Close my AUD short, trying a small long here...
  • Closed my SPY puts @ low of day :)
  • mmTesla
    Nice play, I went long near the same area.
  • Onorio
    Seem like a good spot for a bounce, but right now i prefer to short bounces...
  • mmTesla
    I took one on the chin early today, I like this move into the close as for distance, not sure. I could see 1106 play again, but I certainly won't try to squeeze that much from it. If we rotate up into the close that would make me bearish for tmro.
  • Onorio
    Just to alert that we could be on a LD for a 3rd wave down...if im wrong the bounce could take us back above 1100.
  • lester
    I closed all my SPY Puts - 15% gain overall. 100% cash now.
  • I am so glad to have walked you through to a winner Lester and nice to speak with you in person!!!
  • lester
    Make sure you tell them my voice sounded younger than my 52 years....
  • Lester you sounded HOT! :)
  • lester
    Never have heard a guy described as Hot before. Maybe I can be the
    HotOptionDude someday ...
  • sela84
    heheheh
  • Onorio
    Shorted AUD right before the data release...looking good so far :D
  • Still short AUD too O :)
  • Looking for .89 target to take 1/2 off
  • Onorio
    Here`s you station A! 0.89...im trailing stops, this is a strong move and i dont wanna miss half way down :) call me greedy...
  • pipesticks
    Nice base formed on Nasdaq last twenty minutes....just went long QLD for the inevitable bounce here
  • pipesticks
    Wow SHLD huge gap up at open and dropping like a boulder FAST
  • Jigsaw
    That's why I hate playing earnings, even when your right you can be wrong :(
  • Apple Al
    test
  • sela84
    hi guys
  • mmTesla
    Mornin
  • sela84
    hi, Tesla i am paper trading futures at the moment just to test how it goes and must say it is awesome BUT it is huge difference real and play money:)) i am sure about that!
  • mmTesla
    That is what I am doing, working on an awesome strategy. Biggest thing is how they play out live, huge difference then looking back on an inactive chart. How is it going for you?
  • sela84
    well i scalp today till now 2k it is just toooooo nice to be true or is it?
  • mmTesla
    How many contracts are you papering with?
  • sela84
    5-7 per trade, i see here i could make a million dollar account but it wouldn't be as realistic as i want to
  • mmTesla
    Well done Sela! Having to wait at the moment, no signals for me yet.
  • sela84
    the good thing about futures trading is you can start trading almost 24/7 but the bad thing is you can loose fast as hell. i noticed that you can't go all in because you have to have some kind of cover. it is like for 100.000 account you get i think max 15 contracts of /es
  • mmTesla
    I only use 15-30% of acct at given time. Usually works out pretty well. Do you scale out when you trade? Great way of limiting risk.
  • sela84
    if you mean if i selling or buying contract per contract no i do it all at once but don't no how it would in real money how is it you should know?
  • mmTesla
    Scaling out is like, after let's say 2pts and we are due for a correcting bar I would close 1/4 of my long, farther up if I see a possible strong reversal i'd scale out another 2/4, leaving me 1/4 running as a free trade.
  • sela84
    yes 1-2 points and out of here, i stick to the rule better smaller profit then huge loss, exception is when tape moves long with lower BB and STO fast and slow move almost equal to the oversold territory and vice versa.
  • suzor
    Hi Anna, Long time since I posted. I have been suffering internet/computer issues of late. I will actually rent a house this week to get better internet access...........don't ask why. It all has to do with living in a 3rd world country. Anyway, I want to ask what the procedure is to get commission reduction at TOS. I want to open a new account. See you soon on OBB but I will wait for the move to my new place. suzor
  • Hey Suzor I know I missed you babe! I completely get it, when my connections are down I am frustrated to the max!
    Send me an email when you have completed the application annamallgirl gmail
  • suzor
    Kool so you complete the application first...ok. thanks
  • Yes and send me an email when it's done I will contact Scott @ TOS
  • mmTesla
    Good morning
  • Good moring Tesla you got email !!! :)
  • mmTesla
    Just did :)
  • Such blonde roots! hahahahaha
  • mmTesla
    LOL
  • put it up today :)
  • mmTesla
    Gonna be a fun one out there today
  • BTW your avatar is so darn sexy and distracting!@! hahahahah
  • mmTesla
    Philosophical and sexy, deadly combo :P
  • the next fews weeks should be :)
  • TonyMontana
    Good Morning Anna,

    Do you still think we'll be retesting the lows from earlier this month in the near term?

    Thanks!
  • gcocks83
    Anna, gm I could not post here last night
  • gcocks83
    Seems to be working now. I got the same message Apple Al was getting.
  • Hey allot of folks did for some reason Gman Good morning :) you have another opportunity to get into FSLR long :)
  • For those that followed me on SHLD what a day we will have!!!! :)
  • JoeTrader
    Glad to hear you called SHLD I am long too based off the charts and ready for the rocket ride
  • Hi Joe I have a 115 price target for April on SHLD :)
  • Onorio
    Stoped AUDUSD long @ 0.9025 for a 35 pip gain....i must improve this strategy stop, i`ve lost half of morning gain...

    New long signal at USDJPY, now long @ 91.00
  • Hi O, I have been so disgusted with AUD lately, short a couple lots and staying that way :) glad you did good babe!!
  • Onorio
    I wouldn`t be surprised if AUD go to new highs A, but i will no focus on longer time frames than hourly charts :P
  • Not before a corrective wave IMHO :)
  • Onorio
    Hey HObsters!

    EURUSD seem to have activated a inverse HS in the hourly chart with a target arround 1.3750, so im expecting some more bullshiit ahead today.

    At this point 1120 should be touched before more weakness, so im wiht Anna that we are due for more upside, at this point i dont see 1150 yet but i will evaluate that later.

    My USDCAD long has been stoped sunday at the open for 25 pip loss.
    I`ve recieved a long signal yesterday in AUDUSD and i went long @ 0.8990, 60 pip gain so far :)
  • amokta
    Hi, hope everyone is well! Been quiet on all the blogs - must be the moon cycle or something!
    By the way, can someone explain why put options for coca-cola KO (exp Jan11) went up more than DTG (exp Jun 10), even though DTG down 2.4% while coca only down 0.4%??
  • Long into SHLD (although I hate that store doesn't matter TA does :))
  • bensjoyce
    you said " it’s all about the $ and if Ben and Company are to hint at a rate increase sooner than later, or even raise interest rates (although the probability of that is next to none) their language will be key! !Any strength in the dollar most likely will be weak for equities.

    Personally I think we chop around till traders see what Ben & Company come up with this week."

    The FOMC isn't meeting till March 16 so where would they speak? is something scheduled?
  • Hi Bensjoyce
    I think so too, Ben is speaking in front of Congress this week, to explain his discount window rate hike. So traders will study his every word.
    there is an economic Calendar link on the Right hand side of page, where it has Ben B speaking in Red :)
  • lester
    I bought SPY Puts near close - April and May. Is anyone else short over here? I do not see many posts (1). Hope I am not alone.
  • JoeTrader
    I am taking it easy on index calls or puts as we chop around...I am more focused on individual setups at this time...but wont stay that way for long I am sure
  • AudioTactics
    I think it's ok to be short...

    We couldn't rally on mutual fund Monday. And we were unable to make any progress above the 50Day MA, channel resistance and the 61.8% Fib.

    But what we really need is EUR/USD weakness and I think it will return...
  • lester
    TYPO - April and March SPY Puts - I guess I am the one retail guy that is short...
  • Luvvinit
    Like I have told you for the last three days, smart money big boys are buying CALLS.
  • Luvvinit
    Reason they are doing this is retail sentiment is too bearish.
  • Hi Lester I am short for the most part but long SHLD
  • mmTesla
    My thoughts are next week will be up hard. This week down mostly.
  • Hi Tesla sounds like a plan sweetie :) I am putting your post up in a.m since it could work then too :) love ya and it was terrific :)
  • mmTesla
    Awesome. How was your trading today?
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