Fishing For Points

Today was a day for scalping the Russell 2000 E-mini. Objective was to get in quick and get out. We're still in the post-holiday volume, so I knew I should decrease my contract size to 5, instead of 10. Today's volume was approximately. 58,728 contracts traded, and the average daily volume 187,000 contracts according to CME.

I had a net gain of 3.58 points.




Nothing too exciting today. When I'm not trading in the Futures market I tend to take a glance at my old 50 stock trade screen I used to trade from each day, and I just think to myself, that is seems much easier to watch 1 chart, with MACD, Exponential Moving Average, and Stochastic.

Check out the panic selling in Telik, Inc. (Public, NASDAQ:TELK) down 70% today. Does this bother anyone to know that someone might have to 2nd mortgage their house to cover the losses in this stock for missing Phase III clinical trials on a lack of evidence to help cancer patients? Sheesh. I hope I never have to worry about a market I'm in, crashing 70% of my investment.



Also, I'm taking a 1 month test drive of Phil's Stock World & Options Recommendations. I've been reading his blog for quite some time now, and he's very knowledgeable, legit, and I love his market commentary. He had a average gain of around 80% gains in his realized option gains. He also had a 1400% winner in one option. I will keep an update of the progress and success I'm having with his website. It's $40 a month, and with winners like those, I couldn't refuse.

Can't Wait For the New Year & All that the Future Holds,
-CalTrader

Go Long!

Well I covered my shorts for further continuing of this bull market has resumed. I found some nice setups today, for some decent profits. I have a feeling with the Bulls taking the lead we're just gonna splurge higher, and breakout from the already monumental highs. I think the bottom buyers have overtaken any type of bearish investor to the core and rattled their bones. I'm sure there were lots of bear traps out there as we had a brief pullback, and continuation higher in most sectors. I'm going to highlight the strength of the market, show you how the volatility is pulling back into it's complacency territory.



Interesting Chart:
Pfizer (PFE)



Today's Trades:

Apple Computer (AAPL)




Best Buy Corp. (BBY)



Volatility Index ($VIX)



As you can see it's heading lower, which means the market is getting more complacent with it's "bullish intent". The sell-off caused a spike in the VIX and shook things up a bit, but it was a false alarm sell off, and the VIX has now gone to rest again.