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WAY..WAY..TOO Complicated! A tip on doing a option spread would be wait for the last week before expiration, do a Credit spread that is at least 2 strikes OTM (to be safe). Example of a good stock to do this with would be GOOGLE.(10 point between strikes) Idealy I would suggust not to do...

I took advantage of the opening gap, again.

Extention Levels are used for "Targets" that the markets will react. Just look at any stock or index that has HIGH volume....It works for me......

What a way to finish out the week.... $1,110 profit from todays trade. USO followed the same pattern again today. Missed my enrty on a Put purchase, so I took the Fib extentions as a turn around point to play the calls instead. Once it started to exhaust near between the extention levels...

I missed the initial entry to buy a call off the ABC pattern after the open, so I waited for it to hit the Fib extention. With the down gap at the open I am looking for the down trend to continue this afternoon, and it did. $660 return after commission.

Today I waited for the Weekly Oil Inventory report to come out and watch USO run thru it normal motions. When the initial spike down came back and closed up I went ahead and and entered for a down trend play. The past couple times this report has come out it has followed the same type of...

I use Fibonacci Retracement on the opening 1/2 hour. If it is a significant gap at the open, I place a fib on the previous close and the first candle. You will see that there are many opportunities to fade this. Usually if there are gaps at the open, you will see it try to close the gap. In...

Got burned on this one. Bailed out with a $500 loss. Should have only played the opening ABC pattern instead of the re-trace at the extentions. Live and Learn....Stick to the plan. Staying out of the market until the Obama economy fiasco is finally announced this week.

Waited today until the QQQQ had retraced to the upper Fib extention levels before bought in. Looking for a nice pull back later today as trader take out their profits from this run up. NEWS was bad this morning so I do not see it staying positive for long.

I am Daytrading. I use the Fibs to point out opportunities, possible entries and exits...thats it. It is just the tool that I have had the most success with. I've tried CCI, Stochastic, RSI, linear Regression channels, but I personally prefer to use the Fibonacci w/ extentions.

Did not like the way QQQQ looked at the open. Not much to work with so I diverted to USO today. First ABC setup failed with a spike higher that the "A" point. After the Oil Inventroy report came out I was able to set up the fibs on the retrace and let it tell me where it was probably going...

I mainly look at the opening movement in the first 1/2 hour for my direction. Buying near term month, ATM. The ATM will have the most intraday volumn and price range. Place the Fib on the HIGH and LOW in that time period and then I look to where the extention line are at. Sometimes I will...

Waited for the release of the Existing Homes Sales report before I entered. $480 after commission.

YES. Wall Street is the BIGGEST CASINO in the World... TWENTY QUESTIONS Did you ever lose time from work or school due to gambling? Has gambling ever made your home life unhappy? Did gambling affect your reputation? Have you ever felt remorse after gambling? Did you ever...

The QQQQ had a nice runup before the FOMC minutes release. Took advantage of this and played a pullback. The runup was overdone. Used the High after the release as a starting point to pick my trade exit point. Nice $680 profit after commission. "Buy the rumor...SELL the news" works again.

Using this "Old Saying" I just bought a bunch of Feb 31 Puts on QQQQ. Really nice run up before the news release. Rally is looking exhausted. Looking for an eventual sell off later today or tomorrow, after the Fed releases the Meeting Minutes this afternoon.

The LEAP can be used as a surrogate instead of buying the actual stock. You can get a LEAP for about 30% of what the actual stock purchase would have cost you. With the B/A spread so high it is not a very good instrument for trading , as stated above. But if you want to use them as an income...

Today I thought I would post a snapshot of todays trade. The consumer sentiment release was this morning. You really dont have to look far the figure this one out, just take a stroll thru a mall and see how many people are buying stuff. Looks pretty bleak. Anyway here is the trade I...

It may be an old saying...but here it is again so we dont forget... "Buy the Rumor, SELL the news" Buy those calls a coule days before the earnings release, then dump them before the market close the day before release. Volitility dries up after the event and the price drops.

Use the Fibonacci levels as your Technical Indicator. It will give you an idea of where the stock is about to go, and possible reversal points. Been working for me quite a while now. This is the only thing I use to detirmine my trades.