It was a remarkable day for stock option traders up until 2 p.m., as during that time period the following occurred:
* Theoretical Dow tops hit 11,219, and our Nov525 Call hit 14.50, allowing us good profits from our two buys, and we're out.
* Theoretical Dow lows hit 11,052 allowing traders to take entry to the November 510 P at lows of 2.60 and sell to highs of 3.60
* For those trading the more OTM CAll, November 550C, it hit 2.81 by 2 p.m. and may be the only open signal you're left with
We will list all options today, as all stop loss or end by end of day, and will take no new options, as we do not want to hold any inventory over the weekend. We'll make note that the put, although profitable yesterday, could be held over the week-end.
Trader Questions of Floyd:
1. Do you place your stop loss orders right away on options?
Index options do not allow live stop orders because the market is then moved to the lowest stop loss.
If using # of days as a stop loss, stay firm with the rule.
Whatever stop loss you define: Stay firm with yourself.
2. I'm doing too well. I've made money now on 38 straight trades, and only one loss. I am afraid to continue trading because of "luck"
When doing well, trade on. Watch greed carefully and take lower profits.
Be sure to move at least 10% of your profits EVERY time to "outside of your trading bank." This hiding 10% from the profits is a superb discipline to help you in bad times, if you screw up, or to use for other investment at a later date.
Friday, October 29, 2010
Thursday, October 28, 2010
A Key Day
Yesterday was a key day. Our goal is not to see the S&P close below 1170, the Nasdaq below 2090, and the Dow below 11,040. It's fine to gyrate and whipsaw as we saw yesterday with moves before the 3 pm. electronic traders entered was a theoretical Dow low of 10.981, but a bounce back to near 11,110 before the electronic hedge funds moves came in at 3 p.m.
We continue to hold one or two open call positions, and will hold with our current position, and offer an alternative put as a secondary trade. We continue to see the "market holding up" for a short time.
______________
In our Monday morning Blue Chip Option commentary this week I spoke of supply and demand, the key of how we trade at OEX. I thought it appropriate to teach again how cause and effect/supply and demand lead our market:
As I was trained in the Wyckoff Method I believe the stock market is fully “run” by supply and demand, set in place by cause and effect.
Supply and demand is much simpler than we make it:
1. When there are an equal number of buyers vs. sellers price is equal, and not moving up and down.
2. When there are more buyers, prices will increase
3. When there are more sellers prices will decrease
4. It is possible for prices to move higher with the same number of buyers. There just need to be fewer sellers.
5. When prices decline it is not because there are more sellers; there are just fewer buyers.
Question Authority. Question All Facts. Ignore the Obvious, as it is not obvious. Know that a rock is not hard.
Understand that you only know what you know.
This is the Zen of trading.
We continue to hold one or two open call positions, and will hold with our current position, and offer an alternative put as a secondary trade. We continue to see the "market holding up" for a short time.
______________
In our Monday morning Blue Chip Option commentary this week I spoke of supply and demand, the key of how we trade at OEX. I thought it appropriate to teach again how cause and effect/supply and demand lead our market:
As I was trained in the Wyckoff Method I believe the stock market is fully “run” by supply and demand, set in place by cause and effect.
Supply and demand is much simpler than we make it:
1. When there are an equal number of buyers vs. sellers price is equal, and not moving up and down.
2. When there are more buyers, prices will increase
3. When there are more sellers prices will decrease
4. It is possible for prices to move higher with the same number of buyers. There just need to be fewer sellers.
5. When prices decline it is not because there are more sellers; there are just fewer buyers.
Question Authority. Question All Facts. Ignore the Obvious, as it is not obvious. Know that a rock is not hard.
Understand that you only know what you know.
This is the Zen of trading.
Wednesday, October 27, 2010
Lacey, the Conqueror
A market just waiting on earnings, on announcements, on something to "trigger movement." Yesterday we saw theoretical Dow lows of 11,047 and highs of 11,215.
Traders were able to take below prior day close entries on both our in the money and out of the money calls, and good profits of $2.00. We will, however, keep both trades open as signals, and NOT yet play puts. We may regret this, but we continue to see an upside bias, and another testing of top resistance lines. In other words, one more run up.
Watch futures carefully, and have sell signals in at all times. Take tight profits on the ITM call, as most did yesterday, and be prepared to follow all instructions for the riskier out of the money call.
An edge is up, as chartists have stated:
-- DOWNTRENDS IN DOLLAR AND BOND YIELDS ARE NEAR SUPPORT AND OVERSOLD
-- THAT CALLS FOR SOME CAUTION
-- SO DOES THE PRESENCE OF THE SPRING HIGHS IN DOW INDUSTRIALS AND TRANSPORTS
I've written a very personal article available now on our website called Lacey, the Conqueror.
It's a dog story with lessons, and it helped me change my life, as did the dog:
http://www.oexoptions.com/articles/Lacey.pdf
___________________________________________
What you are reading is our commentary for www.bluechipoptions.com service for today; the data, real facts, and the Floydian Logic used, you'll clearly know where we are.
It will help you vote, as you realize we now must spend while we are able to and create jobs, healthcare and social programs that bring back the middle class. We've lost our middle class, and oligarchy is easily created, the government itself just being a vehicle, and the large corporations in America that truly control our destiny:
What cost $1.00 in 1913 now costs more than $21.00. What cost $1.00 in 2009 would have cost $.05 in 1913. Logic would conclude the Federal Reserve has devalued the USDollar by approximately 95% during it's 97 year tenure.
Read that again.
Geitner has assured the world that " we will not devalue the USD to maintain prosperity and competitiveness. It simply does not work.
It's fine with us that Precious Metals have a correction, but Floydian Logic concludes: we are already phucked on the USD and continue to play massive bank games. Our currency is not even real.
Neither is the Euro.
There is no doubt that precious metals will at some time be much more highly valued than in dollars, or in companies that have and need dollars to be in market.
Traders were able to take below prior day close entries on both our in the money and out of the money calls, and good profits of $2.00. We will, however, keep both trades open as signals, and NOT yet play puts. We may regret this, but we continue to see an upside bias, and another testing of top resistance lines. In other words, one more run up.
Watch futures carefully, and have sell signals in at all times. Take tight profits on the ITM call, as most did yesterday, and be prepared to follow all instructions for the riskier out of the money call.
An edge is up, as chartists have stated:
-- DOWNTRENDS IN DOLLAR AND BOND YIELDS ARE NEAR SUPPORT AND OVERSOLD
-- THAT CALLS FOR SOME CAUTION
-- SO DOES THE PRESENCE OF THE SPRING HIGHS IN DOW INDUSTRIALS AND TRANSPORTS
I've written a very personal article available now on our website called Lacey, the Conqueror.
It's a dog story with lessons, and it helped me change my life, as did the dog:
http://www.oexoptions.com/articles/Lacey.pdf
___________________________________________
What you are reading is our commentary for www.bluechipoptions.com service for today; the data, real facts, and the Floydian Logic used, you'll clearly know where we are.
It will help you vote, as you realize we now must spend while we are able to and create jobs, healthcare and social programs that bring back the middle class. We've lost our middle class, and oligarchy is easily created, the government itself just being a vehicle, and the large corporations in America that truly control our destiny:
What cost $1.00 in 1913 now costs more than $21.00. What cost $1.00 in 2009 would have cost $.05 in 1913. Logic would conclude the Federal Reserve has devalued the USDollar by approximately 95% during it's 97 year tenure.
Read that again.
Geitner has assured the world that " we will not devalue the USD to maintain prosperity and competitiveness. It simply does not work.
It's fine with us that Precious Metals have a correction, but Floydian Logic concludes: we are already phucked on the USD and continue to play massive bank games. Our currency is not even real.
Neither is the Euro.
There is no doubt that precious metals will at some time be much more highly valued than in dollars, or in companies that have and need dollars to be in market.
Monday, October 25, 2010
Steadily Upward
The market has held steady upward ground for three weeks, and most importantly, has held above the magnetic fields of 0000's. Remember, psychologically worldwide when numbers hit 0000's ($1.00, $100,00, $1,000,000,000.00) there is a statistical insight that "faltering," "hesitation," "insight" appears and a struggle begins.
Gold and Silver both dropped as the USD was manipulated upward last week. In our Blue Chip Options service (www.bluechipoptions.com) we comment this week on Gold, silver,platinum, and all the precious metals.
Tim Geitner, much abused in the press, has done a brilliant job unmasking years of false facts and false financials and attended G-20 with a specific agenda. Typical of G-8 and G-20, who pretend to act as monetary bodies and representations of Governments, hedged and hustled. Floyd calls it group masturbation, and Christine O'Donnell, a serious candidate to be a Senator, has already told us you cannot masturbate without lust. So, read here, and define "what is the lust?"
The G-20 Meets:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=adpApa_DkMj8&pos=1
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a7VLszHe.5Ww&pos=3
As we trade today we are only listing a call, and recommend purchase ONLY if futures are mild, negative or positive, and news on Bloomberg does not startle the pre-market.
Our instructions are short term and different than our usual OEX systemology for this trade
Gold and Silver both dropped as the USD was manipulated upward last week. In our Blue Chip Options service (www.bluechipoptions.com) we comment this week on Gold, silver,platinum, and all the precious metals.
Tim Geitner, much abused in the press, has done a brilliant job unmasking years of false facts and false financials and attended G-20 with a specific agenda. Typical of G-8 and G-20, who pretend to act as monetary bodies and representations of Governments, hedged and hustled. Floyd calls it group masturbation, and Christine O'Donnell, a serious candidate to be a Senator, has already told us you cannot masturbate without lust. So, read here, and define "what is the lust?"
The G-20 Meets:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=adpApa_DkMj8&pos=1
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a7VLszHe.5Ww&pos=3
As we trade today we are only listing a call, and recommend purchase ONLY if futures are mild, negative or positive, and news on Bloomberg does not startle the pre-market.
Our instructions are short term and different than our usual OEX systemology for this trade
Friday, October 22, 2010
The Death Cross
We went right to our market tops at 11,243.00 and hesitated, the market then moving down to 11,050 by 2.11 p.m.
We took no new position yesterday for this very reason, as we thought the market was topping. For those that had or took ownership in the November 510 Put, they were able to buy as low as $3.00 and sell to highs of $4.90 by 2.14 p.m.
We've hit profits every day this week. And we've seen the market hit bottoms near 11,890 and return to over 11,000.
The market has three characteristics:
1. It wants to go to 11,450
2. It is oversold and wants to correct, near the Fib line at 10,746. The low of 10,890 we hit earlier this week MAY have been our correction, or we may move to 11,746 again, before more upside to the 11,450 area.
3. The USD and lowering of Gold and Silver yesterday could prime the market, either way.
Here's facts:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=aAV5HJsm6pWs&pos=1
___________
France and Central Bank governors of G-20 meet in Seoul for womanizing and illegal drug use in advance of the G-20 meeting next month. This is a Floydian quote.
Judging how the G-20 thinks, a bit of womanizing and illegal drug use might be helpful.
A good example of charting and the crap that it makes us believe:
1. Three months ago we were under the "death cross," in which the major indices 50 day moving average slips below the 200 day moving average, a somehow foreboding sign.
2. So instead the market gave us a great "gold cross" in which the 50 day moving average climbed above the 200 day moving average.
What we can learn here is that charting terminology like this, although creating FEAR or GREED, are far more descriptive than predictive. The Dow has risen over 15% since all the talking heads began talking about the Death Cross.
We took no new position yesterday for this very reason, as we thought the market was topping. For those that had or took ownership in the November 510 Put, they were able to buy as low as $3.00 and sell to highs of $4.90 by 2.14 p.m.
We've hit profits every day this week. And we've seen the market hit bottoms near 11,890 and return to over 11,000.
The market has three characteristics:
1. It wants to go to 11,450
2. It is oversold and wants to correct, near the Fib line at 10,746. The low of 10,890 we hit earlier this week MAY have been our correction, or we may move to 11,746 again, before more upside to the 11,450 area.
3. The USD and lowering of Gold and Silver yesterday could prime the market, either way.
Here's facts:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=aAV5HJsm6pWs&pos=1
___________
France and Central Bank governors of G-20 meet in Seoul for womanizing and illegal drug use in advance of the G-20 meeting next month. This is a Floydian quote.
Judging how the G-20 thinks, a bit of womanizing and illegal drug use might be helpful.
A good example of charting and the crap that it makes us believe:
1. Three months ago we were under the "death cross," in which the major indices 50 day moving average slips below the 200 day moving average, a somehow foreboding sign.
2. So instead the market gave us a great "gold cross" in which the 50 day moving average climbed above the 200 day moving average.
What we can learn here is that charting terminology like this, although creating FEAR or GREED, are far more descriptive than predictive. The Dow has risen over 15% since all the talking heads began talking about the Death Cross.
Thursday, October 21, 2010
A Full Moon
First, WHY did the market reverse 100% in a day; here's three motivators, besides that the market already planned it:
http://noir.bloomberg.com/apps/news?pid=20601103&sid=aehhyvh9Rg8U
http://noir.bloomberg.com/apps/news?pid=20601087&sid=arG9nBKDnArk&pos=1
http://noir.bloomberg.com/apps/news?pid=20601103&sid=a9o7o63mXBnA
______________________
The theoretical Dow hit highs of 11,192 and lows of 10,930. Our open call hit 15.00 by 1.30 p.m. from buys yesterday under $11.00, and was sold in one day for great profits. We're hitting on all cylinders during the whipsaw. The calls were an easy buy and sell, and we're sure many traders may have taken entry to the opposing put we recommended. For those following futures and Bloomberg news traders would NOT have bought this position.
But if not market studying, you have a good entry. It's likely to have whipsaw and dual trading today, and we would take tight profits.
_______________________
American Express reports earnings after the market closes. Also reporting earnings: AT and T, Xerox and Nokia also report. Rush Limbaugh is still breathing. The average American still has only an 8th grade education. Corruption still reigns. The middle class is slowly being eliminated, especially if the tax cut game (support the rich) continues. In our Blue Chip option service I share an article of how I believe to Live, and find it appropriate to share, as this is how one learns to trade:
Tomorrow is a full moon. This always affects the market
Weaving Straw Baskets-Fifty Steps to Understanding
1. A rock is not hard.
2. We only know what we know.
3. We do not know what we do not know.
4. There is no real such thing as “I”, but I AM.
5. There are people that do not read at all, and many people that do not
read well.
6. The majority always leads, and always forgets history.
7. Everything is really okay.
8. Everyone wants to dance, many in different ways, many so they are
never seen, many so they wish they could be seen, and many that are
always seen.
9. Negotiation is the art of understanding FEAR and GREED.
10. The mood of the public is first trended by stock markets, which show
levels of optimism, and supply and demand in the market place.
11. Most things are manipulated by the few at the top of the capitalist
pyramid that control the outcome, no matter what is done.
12. We only have what we remember.
13. In our reality our mission is really to give, love, flow and make and have
memories.
14. Our perspectives can change in a minute. Values and goals can shift as
fluid water. What we thought becomes not what we think.
15. Money must be understood. It is a “construed value” commodity, only
worth the value that we put on it.
16. All of life works on supply and demand, and cause and effect.
17. You are what you decide
18. If you surround yourself with people “better than yourself” in real life,
and as models, you become then and synergy can be created.
19. Everything happens for a reason.
20. Neither political party is really right or wrong; it is cause and effect in
action, because the actions of the 540 in Congress are no longer led by laws, but by corporations. This will affect the world.
21. We are always: approaching a crisis, within a crisis, or recuperating from a crisis. There is “always something”.
22. Many of us live in a circle of pain, in which we repeat the same negatively dramatic action with a group of others, all interacting within a black comedy drama. And able to be resolved.
23. Most of us do not know really know ourselves. When I ask clients to “tell me about themselves” they tell me about their jobs, their possessions, and lastly their families. They never mention themselves.
24. Most that appears obvious is not. Most that does not appear obvious is.
25. We are all in therapy at every moment. Most of us just don’t admit it, or
use it.
26. We are here to learn lessons and will struggle through until we learn
them. They may be very simple lessons.
27. In all steps of the life experience, and the dramas, people tend to put
love in the background, or it becomes part of the events.
28. Love is life.
29. If you repeat an action many times, it becomes a habit. If you continue,
“using the habit” it must be something that you value, or the habit will
become instead a self-destructive tendency.
30. Unrealistic expectations occur from being dishonest with you. If you
expect success at something you must earn it, and few that are lucky
last.
31. The question What Do I Want is the most important question you will
ask yourself in your life. Your answer defines your happiness. The question is not to tell yourself what possessions and monetary dreams you wish to come true, but to answer, “What do I want”.
32. There are simple ways to release unwanted stress.
33. There are ways to learn to relax and feel better physically.
34. There are ways to be happy.
35. Life is typically unfair and a series of negative events that are
overshadowed in our memory by the positive events.
36. Few people enjoy their work, making most of their life TV, sleeping, or
doing something they do not like. These people lose their strength and
general well being as time progresses.
37. We are fearful of our bodies. Of sex. This is true more in the U.S. than
most nations, and is something to be studied. But in the meantime,
have more sex.
38. The old funeral question has merit “What would they say for my
epitaph, and who would come?” It goes well with a general personal and introspective look that we must do and only you can do, and that is to look inside and ask what you contribute, and if you are good.
39. Things are not as they appear. What we see is not what is, but only what we know so far.
40. Much of what is smart repeats itself, and is never done.
41. All the religions really say the same thing, and sadly it will be religion
that could divide the world.
42. There is no such thing as an absolute.
43. There is no real black and white.
44. We self sabotage often so that we do not “get something we want” as we
want to punish ourselves for things we have done we feel guilty for.
45. It takes discipline to perform. Discipline is our way inside ourselves, as
we become rather than think.
46. People cannot take in more than 5 tasks/thoughts at one time.
Learning to control input is key to knowing when you are at or “over
your threshold”. We all have a threshold in which input overcomes us.
47. More could be done in business, and in politics, if simple playground
rules “no cheating” were put in place before any “deal” and
a. Cheaters had to pay by doing public service, but that is just a
dream.
b. I want Tom Delay mowing that White House lawn.
48. Life is too short to do business with assholes.
49. Use your time. Have your goals around your values, but be armed to
stop believing even what you believe.
50. Be open to the world. Trust no facts. Question authority.
___________________________________
Argue this fact. You have been hearing the reverse, in propaganda, and most of the world believing it:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a2kDMAOwVghA&pos=1
http://noir.bloomberg.com/apps/news?pid=20601103&sid=aehhyvh9Rg8U
http://noir.bloomberg.com/apps/news?pid=20601087&sid=arG9nBKDnArk&pos=1
http://noir.bloomberg.com/apps/news?pid=20601103&sid=a9o7o63mXBnA
______________________
The theoretical Dow hit highs of 11,192 and lows of 10,930. Our open call hit 15.00 by 1.30 p.m. from buys yesterday under $11.00, and was sold in one day for great profits. We're hitting on all cylinders during the whipsaw. The calls were an easy buy and sell, and we're sure many traders may have taken entry to the opposing put we recommended. For those following futures and Bloomberg news traders would NOT have bought this position.
But if not market studying, you have a good entry. It's likely to have whipsaw and dual trading today, and we would take tight profits.
_______________________
American Express reports earnings after the market closes. Also reporting earnings: AT and T, Xerox and Nokia also report. Rush Limbaugh is still breathing. The average American still has only an 8th grade education. Corruption still reigns. The middle class is slowly being eliminated, especially if the tax cut game (support the rich) continues. In our Blue Chip option service I share an article of how I believe to Live, and find it appropriate to share, as this is how one learns to trade:
Tomorrow is a full moon. This always affects the market
Weaving Straw Baskets-Fifty Steps to Understanding
1. A rock is not hard.
2. We only know what we know.
3. We do not know what we do not know.
4. There is no real such thing as “I”, but I AM.
5. There are people that do not read at all, and many people that do not
read well.
6. The majority always leads, and always forgets history.
7. Everything is really okay.
8. Everyone wants to dance, many in different ways, many so they are
never seen, many so they wish they could be seen, and many that are
always seen.
9. Negotiation is the art of understanding FEAR and GREED.
10. The mood of the public is first trended by stock markets, which show
levels of optimism, and supply and demand in the market place.
11. Most things are manipulated by the few at the top of the capitalist
pyramid that control the outcome, no matter what is done.
12. We only have what we remember.
13. In our reality our mission is really to give, love, flow and make and have
memories.
14. Our perspectives can change in a minute. Values and goals can shift as
fluid water. What we thought becomes not what we think.
15. Money must be understood. It is a “construed value” commodity, only
worth the value that we put on it.
16. All of life works on supply and demand, and cause and effect.
17. You are what you decide
18. If you surround yourself with people “better than yourself” in real life,
and as models, you become then and synergy can be created.
19. Everything happens for a reason.
20. Neither political party is really right or wrong; it is cause and effect in
action, because the actions of the 540 in Congress are no longer led by laws, but by corporations. This will affect the world.
21. We are always: approaching a crisis, within a crisis, or recuperating from a crisis. There is “always something”.
22. Many of us live in a circle of pain, in which we repeat the same negatively dramatic action with a group of others, all interacting within a black comedy drama. And able to be resolved.
23. Most of us do not know really know ourselves. When I ask clients to “tell me about themselves” they tell me about their jobs, their possessions, and lastly their families. They never mention themselves.
24. Most that appears obvious is not. Most that does not appear obvious is.
25. We are all in therapy at every moment. Most of us just don’t admit it, or
use it.
26. We are here to learn lessons and will struggle through until we learn
them. They may be very simple lessons.
27. In all steps of the life experience, and the dramas, people tend to put
love in the background, or it becomes part of the events.
28. Love is life.
29. If you repeat an action many times, it becomes a habit. If you continue,
“using the habit” it must be something that you value, or the habit will
become instead a self-destructive tendency.
30. Unrealistic expectations occur from being dishonest with you. If you
expect success at something you must earn it, and few that are lucky
last.
31. The question What Do I Want is the most important question you will
ask yourself in your life. Your answer defines your happiness. The question is not to tell yourself what possessions and monetary dreams you wish to come true, but to answer, “What do I want”.
32. There are simple ways to release unwanted stress.
33. There are ways to learn to relax and feel better physically.
34. There are ways to be happy.
35. Life is typically unfair and a series of negative events that are
overshadowed in our memory by the positive events.
36. Few people enjoy their work, making most of their life TV, sleeping, or
doing something they do not like. These people lose their strength and
general well being as time progresses.
37. We are fearful of our bodies. Of sex. This is true more in the U.S. than
most nations, and is something to be studied. But in the meantime,
have more sex.
38. The old funeral question has merit “What would they say for my
epitaph, and who would come?” It goes well with a general personal and introspective look that we must do and only you can do, and that is to look inside and ask what you contribute, and if you are good.
39. Things are not as they appear. What we see is not what is, but only what we know so far.
40. Much of what is smart repeats itself, and is never done.
41. All the religions really say the same thing, and sadly it will be religion
that could divide the world.
42. There is no such thing as an absolute.
43. There is no real black and white.
44. We self sabotage often so that we do not “get something we want” as we
want to punish ourselves for things we have done we feel guilty for.
45. It takes discipline to perform. Discipline is our way inside ourselves, as
we become rather than think.
46. People cannot take in more than 5 tasks/thoughts at one time.
Learning to control input is key to knowing when you are at or “over
your threshold”. We all have a threshold in which input overcomes us.
47. More could be done in business, and in politics, if simple playground
rules “no cheating” were put in place before any “deal” and
a. Cheaters had to pay by doing public service, but that is just a
dream.
b. I want Tom Delay mowing that White House lawn.
48. Life is too short to do business with assholes.
49. Use your time. Have your goals around your values, but be armed to
stop believing even what you believe.
50. Be open to the world. Trust no facts. Question authority.
___________________________________
Argue this fact. You have been hearing the reverse, in propaganda, and most of the world believing it:
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a2kDMAOwVghA&pos=1
Wednesday, October 20, 2010
The Facts
As futures were just wiggling along early this morning Bloomberg hit with this news:
U.S. Index Futures Drop, Stocks Erase Gains on Apple Outlook, China Rates
and chartists later in the day shared with us:
-- BOUNCE IN OVERSOLD DOLLAR CAUSES PROFIT-TAKING IN STOCKS AND COMMODITIES
-- GOLD TUMBLES
-- STOCKS APPEAR DUE FOR SOME PROFIT-TAKING BUT REMAIN IN AN UPTREND
and
A testimonial befitting of yesterday's actions:
Hello there.
It's me..."Christian" _______. Just over a year ago, I subscribed to your free trial offer. I want to thank you for that. I also made some comments that you ultimately posted on your blog, I believe.
Just to jog your memory, this was around June of 2009. You know---trading requires a certain mindset. Agreed? that's not a startling statement. And I gotta tell ya---the tuition is quite high on Wall Street.
Boy...have I paid to learn how to play. And I fear that I still have to learn some more, and, of course, learning is gonna cost some money. When I came on board with your firm albeit on a trial basis, I funded my account with $8.5K---not a lot of money by any stretch. but get this. I started on a Monday, June 8th. By that Friday my account was up to $14, 600! Not bad? By early the following week...I gave it all back and then some. I closed out the account minus $5k of my initial principle. In summary, I know I can do this. I just have to resist from trying to create a trade where there is none to be had, and I also have to keep from over trading. In short, I need to work on my discipline. what I find is that I'll tune into CNBC to check out how Europe closed their session in order to have sense of the climate for what's to come.
Of course, if it's a Monday and any political stuff happened over the weekend that might adversely impact the market, I'll be on the lookout for this. And let's not forget the economic calendar that we need to watch. But where I tend to get into trouble is when I make a trade and in less than 15 minutes or so...I'm plus $800 or more, and I end up feeling like...phew! that was easy. And then I want to go back in to trade some more. And some times I win but most times I lose. And I suppose...this is one of my problems(?) I know that I'm good at picking (or sensing) which way the market is going. Often times the signs pretty clear. So, I jump in and make a quick hit. but there I go again...trying to scalp the market from home. I don't think is quite as easy as if one were in the pit? The dynamics of electronic trading, particularly the delay factor is of consequence. I love the OEX---it's all I've ever traded. And I'm determined to come up, on average, as winner. This next go around (which will be soon), I will enter the market with a sharper eye toward avoiding my previous mistakes as well as refraining from over-trading or attempting to create a trade where there is none to be had---perhaps you've been guilty of this in your earlier years of trading the OEX? I'm not sure if I'll be able to participate in the year end rally (if there is one) or if I'll have to wait until next year and catch the market when it decides to regroup and move forward again. And praise whatever higher power that we're not stricken with some horrific terrorist act that will send the market into a tailspin. And, of course, I'm not sure how long the veil of "economic indiscretions(s) can continue to hide the fact that this country is in deep pooh-pooh before clarity on the situation is prevalent across America---and BAM! It will hit the fan! Talk about a market dive---plunge of whatever you wanna call. I remember that I bought a book titled "Dow 40,000." Wow! That's a lot of change. But how about "Dow 3,500!" OUCH! Either way...there will be a lot of $ to be made if you know how to Trade. Nice talking to ya. Be in touch soon."
___________________________________________________________
The FACTS: The market sold off and hit theoretical lows of 10,870 area, leading right to the Fibonacci re-tracement that market always moves to. This is a healthy sell off if it holds on decline and if profit taking was just in order, and the fundamentals return. I mean, Apple did utterly FANTASTIC in earnings, yet that they did not do "good" enough was a trigger.
Puts we bought Monday were hugely profitable, buying the November 510 Put as low as 4.50, and selling to 6.90 by 3.30 p.m. 50% plus returns in a day no one can beat, and we also took a nice first buy to the call, which we'll hold, be ready to second buy and simply watch the market today. Puts may have some more downside, the market itself may, but we'll hold with our Tuesday profits and our open signal.
_______________________________________________________
As most of our traders have grasped I will be branded a liberal. Thank you. And I believe the best writing coming out in America these days, the best true and fear journalism, comes from The Atlantic, Harpers, and surprisingly, Rolling Stone.
Rolling Stone has Mat Taibbi, the best journalist of this century as a free lancer, and Tim Dickinson, who can close the loopholes on facts. As the GOP spends millions to regain power (with which we have no idea what they would do except stop the tax cuts for the rich, and end that damn start at healthcare), Dickinson takes the time to clearly identify what has been done, what was happening as Obama came into power, and how in the end he may be judged.
This view into politics is a direct view into the stock market and into real reporting, agree or disagree. Liberal vs. conservative is immaterial as both are just "names," often just used for "calling" or for "degrading a point of view" to "upgrade your point of view"
Please read this if you read any one article I pull off blogs and websites:
http://www.rollingstone.com/politics/news/17390/220013
U.S. Index Futures Drop, Stocks Erase Gains on Apple Outlook, China Rates
and chartists later in the day shared with us:
-- BOUNCE IN OVERSOLD DOLLAR CAUSES PROFIT-TAKING IN STOCKS AND COMMODITIES
-- GOLD TUMBLES
-- STOCKS APPEAR DUE FOR SOME PROFIT-TAKING BUT REMAIN IN AN UPTREND
and
A testimonial befitting of yesterday's actions:
Hello there.
It's me..."Christian" _______. Just over a year ago, I subscribed to your free trial offer. I want to thank you for that. I also made some comments that you ultimately posted on your blog, I believe.
Just to jog your memory, this was around June of 2009. You know---trading requires a certain mindset. Agreed? that's not a startling statement. And I gotta tell ya---the tuition is quite high on Wall Street.
Boy...have I paid to learn how to play. And I fear that I still have to learn some more, and, of course, learning is gonna cost some money. When I came on board with your firm albeit on a trial basis, I funded my account with $8.5K---not a lot of money by any stretch. but get this. I started on a Monday, June 8th. By that Friday my account was up to $14, 600! Not bad? By early the following week...I gave it all back and then some. I closed out the account minus $5k of my initial principle. In summary, I know I can do this. I just have to resist from trying to create a trade where there is none to be had, and I also have to keep from over trading. In short, I need to work on my discipline. what I find is that I'll tune into CNBC to check out how Europe closed their session in order to have sense of the climate for what's to come.
Of course, if it's a Monday and any political stuff happened over the weekend that might adversely impact the market, I'll be on the lookout for this. And let's not forget the economic calendar that we need to watch. But where I tend to get into trouble is when I make a trade and in less than 15 minutes or so...I'm plus $800 or more, and I end up feeling like...phew! that was easy. And then I want to go back in to trade some more. And some times I win but most times I lose. And I suppose...this is one of my problems(?) I know that I'm good at picking (or sensing) which way the market is going. Often times the signs pretty clear. So, I jump in and make a quick hit. but there I go again...trying to scalp the market from home. I don't think is quite as easy as if one were in the pit? The dynamics of electronic trading, particularly the delay factor is of consequence. I love the OEX---it's all I've ever traded. And I'm determined to come up, on average, as winner. This next go around (which will be soon), I will enter the market with a sharper eye toward avoiding my previous mistakes as well as refraining from over-trading or attempting to create a trade where there is none to be had---perhaps you've been guilty of this in your earlier years of trading the OEX? I'm not sure if I'll be able to participate in the year end rally (if there is one) or if I'll have to wait until next year and catch the market when it decides to regroup and move forward again. And praise whatever higher power that we're not stricken with some horrific terrorist act that will send the market into a tailspin. And, of course, I'm not sure how long the veil of "economic indiscretions(s) can continue to hide the fact that this country is in deep pooh-pooh before clarity on the situation is prevalent across America---and BAM! It will hit the fan! Talk about a market dive---plunge of whatever you wanna call. I remember that I bought a book titled "Dow 40,000." Wow! That's a lot of change. But how about "Dow 3,500!" OUCH! Either way...there will be a lot of $ to be made if you know how to Trade. Nice talking to ya. Be in touch soon."
___________________________________________________________
The FACTS: The market sold off and hit theoretical lows of 10,870 area, leading right to the Fibonacci re-tracement that market always moves to. This is a healthy sell off if it holds on decline and if profit taking was just in order, and the fundamentals return. I mean, Apple did utterly FANTASTIC in earnings, yet that they did not do "good" enough was a trigger.
Puts we bought Monday were hugely profitable, buying the November 510 Put as low as 4.50, and selling to 6.90 by 3.30 p.m. 50% plus returns in a day no one can beat, and we also took a nice first buy to the call, which we'll hold, be ready to second buy and simply watch the market today. Puts may have some more downside, the market itself may, but we'll hold with our Tuesday profits and our open signal.
_______________________________________________________
As most of our traders have grasped I will be branded a liberal. Thank you. And I believe the best writing coming out in America these days, the best true and fear journalism, comes from The Atlantic, Harpers, and surprisingly, Rolling Stone.
Rolling Stone has Mat Taibbi, the best journalist of this century as a free lancer, and Tim Dickinson, who can close the loopholes on facts. As the GOP spends millions to regain power (with which we have no idea what they would do except stop the tax cuts for the rich, and end that damn start at healthcare), Dickinson takes the time to clearly identify what has been done, what was happening as Obama came into power, and how in the end he may be judged.
This view into politics is a direct view into the stock market and into real reporting, agree or disagree. Liberal vs. conservative is immaterial as both are just "names," often just used for "calling" or for "degrading a point of view" to "upgrade your point of view"
Please read this if you read any one article I pull off blogs and websites:
http://www.rollingstone.com/politics/news/17390/220013
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