Pay No Attention to Bid/Ask

"We are all born originals; why is it so many die copies." - Edward Young

We were unable to enter our call recommendation yesterday early because of the fast gap up we saw in the first hour of trading. By 10.30 the Dow had hit a theoretical top of 11,150, just over our resistance lines. However, traders that had orders in prior to opening were able to fill as low as 4.10 (below prior day close) and sell to 6.10 before the 3 p.m. hour.
And later in the day this call became a day trader's heaven, another example of falling in love with an option.

Gaining an option like this takes training. Traders MUST have orders in pre-market, and must follow the rules we create (not to pay above prior day close) and then must decide from the "mood of the market" if they want to offer a "best buy" price (dependent upon futures) or a slightly lower than prior day price. This is where it is very important to pay NO attention to bid/ask.

And each trader must interpret how he or she will "play from my recommendation. As an example, for Advanced Mentoring client MS: " Our call went well for me today - Bought at 4.90, made double second buy at 4.20 and sold to 6.10"

Study our article or movie on Being A Fruit Vendor: http://www.oexoptions.com/pages/fruit.html
In doing so you will see that Floyd sees options as only "instruments of movement" and not something that has any real value. And if you think of it, OEX options do not. They are a zen or chess trading game, and not a science. This is the most common misunderstanding about trading options.



15% of the gross domestic product represented by 2009 federal taxes is actually lower when compared with post Word-War II averages of 18%

Our Great Recession, in other words, is this time not caused by war but by the greed of many generations.
Euronet and Mastercard report earnings today. Arthur Hill with StockCharts.com posts below on Sunday where he sees the Fib retracement and what could happen.

A Floydian Thought: Most people are in the continual process of transcending fear based rituals