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Archive for May 22nd, 2008

Quantifiable Edges: Nasdaq Net New Highs Potentially Ominous

Rob worries about the lack of net new highs on the Nasdaq and if this is a bad thing…

Kirzner Fervor: The Hedge Fund strategy that wasn’t?

Kirzner – if you haven’t read him – he’s incredibly smart.  This piece walks through an interesting strategy idea that he ultimately decides it isn’t really working anymore.  Great stuff.

VIX and More: The Big Question for the VIX

I never thought I’d hear of the VIX jumping the shark, but there it is.  What will you do now Bill?  🙂  I kid, I kid.  The VIX certainly has the ability to become the next "dry ships" index or whatever that was – but I think both the VIX and Bill have a longer career ahead of them.

 
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So, I bought the IBB as promised this morning.  I did look at the options but they were so thin in the trading I decided to just go with the stock.  Too bad – I’d be up 18-20% on the position already if I had!  As it goes, however, I’m still up, albeit small, on the IBB entry.

This is a great example of why I like system trading.  I never, never would have looked to IBB on day like today – hell, I barely notice it most of the time because it is so up and down.  But my system “found” it and so far it’s been a good call.  Suffice to say I’ve probably now jinxed myself and it will plummet tomorrow.

The XLF trade continues to mull around – my options gained about 4 or 5 cents after being down yesterday.  So, still down on the position.

On the Ultra side, UYG was up quite big early and has settled into being up about 1.3% – a nice start.  Meanwhile, UCC is down about 0.50% as of this writing.  The paper trading on this will continue for a bit.

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Entries on MR2 System

As I’m about to go off to bed, I checked my more experimental system – MR2 – that I’m currently paper trading.

I have UYG (Proshares Ultra Financial) and UCC (Proshares Ultra Consumer Services).  I won’t take the trades but I will note a price and post it to the blog so that I’m keeping myself honest.

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As can be expected on sell-off days, we’ve gotten a second entry on the MR1 system.  So, in the morning, I’ll be opening a position in IBB on the open.  Not sure if there are options on IBB – if there are, I’ll look at that as an option as well.

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