Review: US market Prediction - Intra day for June 19-trade no 51

see the intra day chart and the prediction given below.

Both correction as well as rise in teh lst hour did happen ( though  not to expected extent)

 

Pure day trading profits:

 

1. short postion on IBM gave $12,000

2. after disposing all past Aloca shares fresh long position in Aloca( at lower prices) gave $ 144,000( true profit should be less than of half of this as for some reason purchase of one lot of 400,000 shares was triggered even when Alcoa did not reach that price during the day)

3.Longs position in Ambak Financial group gave $ 600

 

Pure day trading Profit as per Kaching wesite is $ $157,000 though it shouldbe no more than $70,000

 

Total value of portfolio is up at 10.63 million ( partly due to increase in price in last two days whne no day trading took place-carrying over effect of stocks)

 

Prediction as posted onJune 19,2009

 

 

US index dow 30 up 54 points at 7.25 pm India time( US  ET time - nearly 10 am)

 

 

US market may see signicant correction -possibly twice once in next hour or so but more likely in afternoon. After that, in the last hour upward movement is likely.

 

On kaching trading site, a numbe of stocks have been shorted at limit prices and existing stock of aloca shares sold at limit prices.

 

Long positions at limit prices may be created upon correction.