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ROTFLMAO! You're so loooong. It's gonna be a "short" summer.

Oooh, you're making strong assumptions about where support can be found in the summer market :D

Opportunity knocks on both sides of the door.

After seeing 3 direct access platforms in action, I've found Etrade to have excellent advanced order capabilities, including show/reserve qty.

I've had success with trailing stops but definitely got whipsawed on volatile stocks. I agree, stick with a hard stop and adjust it. For volatile swing trades, I often use conditional brackets with a hidden stop at max loss and an upper trigger based on a target profit.

I keep a journal and stick the lessons learned in big block letters on my wall. And still manage to occasionally make the same mistakes :) By the time of my third major drawdown, it wasn't quite as hot anymore because I realized the market is a living breathing thing and you have choices -...

This book turned my mistakes into profits very quickly: http://www.amazon.com/Market-Makers-Edge-Josh-Lukeman/dp/0071412743 The first chapter is no-nonsense loss management - how to choose position size and manage risk. If you follow this book diligently, you'll do great. But after you've...

We're talking some serious whackage, loose stops, I take it :eek:

I bailed on my naked DRYS puts early this morning near break even and nothing felt better at the end of this day.

Support's hard to find this morning. I thought CLF looked good at $104 the other day, then better at $102 yesterday, but it broke $101 this morning. NoDoji's got doji - scared to put this one on...

I ended up buying Oct $35 calls on AMSC yesterday, and they're up almost 20% in premarket on a large order. This one goes into the "best-timed trade ever" category :)

Someones' liking their blackberries - my RIMM calls gained $1100 in 20 mins; happened so fast I almost missed it.

Off the subject, but wow, an age! I only started posting online recently and it's weird not knowing anything about anyone. (I'm a 47-yr-old vegan soccer-playing musician, cancer survivor & FT trader but surely you knew that) I've only been trading a bit over 3 months, mostly long with a few...

I think your plan is solid, NOK long term. Was long NOK but got stopped out during their fall a few weeks ago, then ended up with $400+ dividend. Nice surprise.

Long NOK and RIMM back month calls. Hope back enough :)

IBD last week recommended AAPL once it hits $192.34 (I understand it's a signaled break out of a solid base, but where they get these precise figures is beyond me). In a downtrending summer market, though, I would say all bets are off.

Joab, since you're an extremely seasoned trader, I'm curious why you would want to "get the hell out" rather than shorting the market.

Long term market trend has always been up, despite crashes. October 1987 - hold your longs and recover within 18 months. On the other hand, if you were chargin on margin, say goodbye.

If you're long strong companies, you can ride it out. Rate cuts will do their job over time, and yes there's likely a real bottom ahead over fear which is way more powerful than greed. Ever notice how a strong stock can rally 5-10% in a day, but when the blood starts to flow it can lose that...

I wasn't aware of CLF. Wow, dream chart! And millions of bucks of insider purchases as recently as May when it was trading at $104, near its high.