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I need to add something else I realized after hours today. I've been making a costly mistake in the way I buy options and I need to quit it. GOOG moved up over $5 today yet my pos'n's value didn't change. That's because the strike price I bought is so far out - NOV390 that GOOG could barely hope...

I'm going to say something about picks that I learned last week, because of your pain over IBM. At Cramer's advice to a caller to sell, I bought a put on ELY, though I hadn't so much as heard of it before. Again, on his strong buy recommendation, I bought calls on NT,GGC and TXN, not having...

I see energy taking a kickin' again - ECA not looking favorable anymore - what with CEO change, E.R. disappointment, and sale of assets. After this news is over, SWN should be a good play with a rise in nat. gas prices for the winter. I see your toe in the GOOG water - I was surprised to see the...

Sorry to hear you suffer... I played Sneaky pete yesterday - re-sold some of my wife's USNA stock to ride a couple of GOOG calls for the day, got out after I made $100 and re-bought the stock. This morning, I bought a BBY put because it is on a down trend and always breaks below the BB 20EMA...

Qiuniu, I can understand your reluctance toward GOOG - it IS an overvalued stock. However, investors are consistently "google-eyed" over it, and market-wide, analysts (even the self-professed bearish ones) are setting price targets at $350 to $400. So, barring any bad company news, which I...

Sold my GOOG NOV360 call this a.m. after stock passed $349 - was thinking $350 will surely prove to be a resistance point and will retreat from there. Bought @$5.51, sold @$8.31. Acc't is finally back above $2k after a dismal low of $350 2 mos. ago. Which means I have to buy back my wife's USNA...

Did anybody hold a call through GOOG's E.R.? I'm glad I did - mine grew from $300 to $1100, I then traded it in for a higher strike at a lower price to free up some profit to keep aside or trade on a special occassion. I hear it's good for some more and I'm buyin' it. Be wary of energy -...

Amen to that.

I was reading your other exchange (wrestle?) at Palawan's mention and one thing you'd said stood out among all others for me - that the BANE of traders is having to keep trading! In answer to your first question, that would be it for me. Not because I think I shouldn't be trading all the time...

My excuse is that the markets crashed just after I left the country on holidays and I didn't want to babysit my acc't and bring my knotted stomach to my little escaoe from life. I did enter 2 bullish pos'ns 2 days after things started south, thinking it a good time to go long, and after I got...

Jerry, sorry to hear of your defeat - I admire your resolve to quit while you're ahead. I doubt I could do that! Thanks for the input regarding GOOG- it and the Nasdaq are still taking quite a beating - seems the price will be quite moderate (relatively) by the time E.R. comes around Oct.20...

Hi all, I've been quiet the last couple of weeks - tiring of losing for one thing, and just returned from a one week holiday. I see markets crashed while I was away, and someone I see made some good money - good for you! I made some good money as well about 2 weeks ago when Cramer at Madmoney...

I wasn't in ECA-TC today and that was fine - not very big movement. GOOG stock opened higher than I expected on my put, but I knew it wasn't going to stay gapped up, so I waited til it came down and the put increased in value just past purchase price, then closed it since the high open told me...

My sentiments exactly. Those last ones I set at my purchase price, the day after I bought them. When I first buy a pos'n, I usually set the stops about 40% below purchase price, that low only to allow for some movement. If things aren't swinging too much intraday, I like to set a trailing stop...

Thanks Jerry, For the battle plan details. I'm really looking like a fool these days - got stopped out on both my ECA-TC call and MY GOOG put today - thankfully I didn't lose beyond the initial outlay, just the nice intraday premium build-up. I didn't clue in that the slight gap up on ECA-TC...

Got caught with my pants down again in public - how embarassing! ECA-TC cracked the whip while I was on the end of it and flailed me off. Stock is up while I was down. Misread everything the last 3 days. No trend reversal, just an anomaly. Closed 4 x OCT58 puts @ $1.80, bought 2 OCT60 calls @...

Jerry... Thanks for the details - nice and clear. Still surprised at your bearish preference, especially if it's yet to be another microsoft as you suggest, but respectfully, I am watching to learn. Happy trades to you...

ECA-TC did an oddball move this a.m., by opening $0.90 high on a downtrend- never done that before. My wife told me over dinner tonight the news had said they sold their Ecuadorian assets - checked Yahoo and first report on that was at 0600 (how did I miss that?)- probably explains the unusual...

Jerry, How and why do you figure GOOG's market cap will be halved soon? That sounds pretty drastic - does the company do that voluntarily or you figuring on serious competition soon? I probably don't really understand what market cap is, anyway... You guys keep my interest piqued with...

Missed day's high again on ECA-TC, mainly because of trend reversal early morning. Sold all my calls mid-afternoon when the reversal was evident, bought 3 OCT58 puts @ $2.65 at around $58.60 underlying. Had bought 2 calls @ $3.23, sold them @ $3.60. Had bought 1 OCT60 call @ $2.65, sold @...