Decent Day. Closed Some Shorts.

I was out of the office fot most of the trading session today and I closed some of my shorts around 1086. I had a major short position and these two days really gave a boost to my trading account. I bought some Nikkei Futures near the close at 9480 for a medium to long term play. As you know I have been waiting for a decent entry point on the Nikkei Futures and I planned to buy it around 9,500.

Probably I will have to be a little patient on this trade but the Nikkei has been selling off recently and is trading at a 4 month low.

I am spending the weekend at my beach house, trying to rest a bit. I am feeling exhausted. The newborn, the trading stress and some other business commitments are draining be. But this was a great week for my trading so I am pleased.

Oil sold off again and my system has been on the right side of the market. Everything is going for me these days.

I will leave you with my favourite rapper, TI performing Whatever You Like live.

Enjoy your weekend. I will be back to my trading desk full time by monday.

Article: Japan's Nikkei index falls to 4-month low (Business Week)

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Just Arriving To My Trading Desk. Nice Surprise.

I am very pleased with this selling mode on Wall Street day as I am carrying the mother of all short lines. I was a bit nervous because I could not stand many more rallies against my big short S&P Futures position so I am feeling pretty good. I hope it sells hard into the close.

I am going to play a soccer match right after the closing bell to chill out a bit. It may turn out to be one of the top 10 trading days of the year if the sell off gathers some strength going into the close.

I will have a vintage port wine later. To celebrate a good day.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Another Non Event Session On the S&P Futures. Eyes On The Japanese Market.

It seemed almost like an holiday trading session with nothing going on. Its a bit strange that a market that had such a run up now trades quietly near the year highs. I think that the next move will be lower but I will have to watch it carefully and move fast if I have to.

I am keeping an eye on the Nikkei Futures as I am planning a medium to long term buy there. Its trading around 9600, near my pre established "buying zone". I have been gathering interesting research notes on the japanese stock market and its valuations are more than attractive. But it seems that it needs a catalyst to begin its upmove and I do not know what the catalyst might be. The august elections and the new government could of been a fine catalyst but it did not move the market at all. I like to trade the japanese market as I had some nice experiences in the past. I remember catching a move from 10,000 to 17,000 a few years ago. I wasn`t using much leverage in those days but it felt good. I am needing a similar trade now.

Read my recent post about the S&P 500 vs. the Japanese Stock Market. Very interesting indeed.

I wil be out for most of the session tomorrow. Take care.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

API Inventories Are Bullish. EIA Data Coming Later Today.

Crude oil futures are rising in the early going, moving closer to the 80 dollars a barrel mark after data from the American Petroleum Institute (API) showed a larger-than-expected drawdown in US crude oil inventories.

Nymex crude rose by around 0.50 dollars a barrel in early Wednesday trade in Asia after the API reported a 4.367-million-barrel draw in crude stocks in the week ended Nov. 13 despite lower refinery runs at 79.6% of capacity. Analysts surveyed by Dow Jones Newswires had expected crude oil stocks to drop by 600,000 barrels.

The EIA inventories will come out later today.

The market is waiting for confirmation from the second set of data, due to be released by the Department of Energy at 10:30 a.m. EST.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

S&P Holds Despite The Dollar Rally.

The S&P 500 added 0.1 percent to 1,110.32 at 4:06 p.m. in New York, its highest close since Oct. 2, 2008 despite today`s big rally in the US Dollar. I did not expect the market to hold so well into the close and print an "unch" day. Even though the market closed only 1 point higher and the Dow Jones rose in 9 of the last 10 trading sessions. I have seen other rallies end through the years and they all end like this. The last ones to buy are the individual/ retail investors that plunge in just before the permanent reversal. So, today`s session has boosted my confidence that the market is very near a sustained trend reversal.

Today’s advance brought the S&P 500 within 1 percent of recouping half the plunge that followed its October 2007 record. Remember that this is steepest rally since the 1930s. The index has jumped 64 percent from a 12-year low in March as a four-quarter contraction in the world’s largest economy ended.

One of you left the link to the Highway to the Dangerzone video clip last week. I think its appropriate for today.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Jim Chanos Is Bearish On China

Jim Chanos is bearish on China and I think he has a very good point. China suffers from huge overcapacity in every sector and their statistics are made up.

"Jim Chanos, head of investment firm Kynikos Associates and famous for his call to short Enron in 2001, has found his next big target.

Chanos and other China bears say the country has overcapacity in just about every sector of its economy, and the government's massive stimulus isn't working. They think China is simply covering things up with faulty statistics.

For example, they point to the huge reported increases in car sales in contrast to numbers showing little growth in gasoline consumption, which suggests state-run companies are buying huge numbers of cars and putting them in storage." in The Daily Crux

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

"I Look At The Board And Every Single Stock Is Up!"

"I haven't been this bearish in a year. I look at the board and every single stock is up. But there is no fundamental rooting as to why." Meredith Whitney on CNBC

Incisive as ever. She saved me a few thousand dollars with her bearish call within 1 hour to go in the trading session. I need another Meredith tomorrow.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Meredith Whitney Is Bearish As Ever

Meredith Whitney came out in her bear cape today and financials sold off to the close. Here is what he had to say:

"Bank analyst Meredith Whitney said on Monday she does not believe the U.S. equities rally is based on fundamentals, and she is as bearish as she has been this year in the stock market.

In an interview with CNBC television, Whitney said there is "no way" the banking sector is well capitalized and it is time to reduce weighting in large-cap banks. Whitney also said she sees a double-dip U.S. recession." in Reuters

It has helped a bit my shorts as the market reversed from the intradays highs and sold off a bit to the close. I can`t wait for tomorrow`s session.

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Flip Flap Overnight. All In.

I covered overnight on the perceived strength and sold again short but in double. I am all in short now. This is the last "buy now or be left behind" move by fund managers.

Actually I was at a dinner party this weekend and some of my friends that had never bought stocks in their lifetime are now stock trading experts. This was the last signal I needed to act not softly but in "all in mode".

Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.

Should We Buy The Nikkei?

Japan’s Topix index dropped to the lowest compared with the Standard & Poor’s 500 Index in five decades after the nation posted the worst stock performance of the world’s 10 biggest markets this year.

The chart shows the ratio between the Japanese benchmark and the U.S. index slipped below 0.83 for the first time since January 1999 last month. It slid to 0.82 last week, the lowest since December 1955.



Oil Trader`s Blog is a trading community for active online futures and stock traders. We provide our real time trading decisions and our market analysis on this website.