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Still moving down, but I'm not liking the news they put out yesterday. In regards PALM. They are having a hard time with that resistance still. I thought we might see the breakout this morning. Didn't happen. I think it is going to be very dependant on what happens with RIMM today.

Doesn't seem like the market knows where it wants to be. I think everyone would like to continue the rally, but breaking 1300 seems a little lofty considering oil, FOMC, etc. I guess I shouldn't say lofty because under good conditions that level isn't scary at all. Premature would be a better...

I'm actually not thinking at all that I will get into PAAS. It almost never moves during the last hour. We'll see what happens tomorrow.:)

Happens every time though. You just sit there and look at it like "you dirty bugger". Then it throws up a middle finger as it rides off into the sunset with your money. VLO did that to me in NOV for about $2k.

I could actually drop the limit price by .05 right now and get filled, but I told myself that I want the extra .05.:D PAAS is holding dead still right now. I don't think I could even leg into it for the credit I want.

Tell me though. Even if you had $100MM account. Wouldn't giving up $500K seem like a lot?

I'm not really wanting to trade because I'm bored. I'm wanting to trade because I'm way too delta negative right now. This goes for both my real account and the one I'm trading on this thread. I'm not bored, I'm ANXIOUS. I stand to make a bunch of money if the market decides to take a...

Yep, sorry.

On a different note. RIMM back off quite a bit today, setting me $15 OTM on the call leg of my IC. I was thinking that the put leg would be very safe but I might have to adjust the call leg. Seems like th opposite might be true now.

Yep... seems like many of us are lacking directional conviction right now. Patience is key. I must admit though, I do have a limit order in for a PAAS bull put. Support is holding right now. I decided that I'm not going to chase it. So if they will give me the fill that I want, then I will...

Thinking about getting in on a PAAS bull put. I don't know. Maybe I'm just getting antsy. It does present a decent APR position though.

Yeah, I can't find anything that is going to give me a good entry for a decent credit on the bullish side.

I think there's been 16 or 17 if I count individual legs of the IC's. I wasn't expectingthe big bullish run. That got me out of some of the bullish positions pretty early. I find myself in a situation where I'm not very comitted in terms of a $10K account. I've scanned a ton of different...

Looks like PALM is reaching that moment of truth. The 20SMA (which it uses for support) is approaching the 52 week high (resistance). Which way will it break?:eek:

I'm sure it has a lot to do with trading style and personality. I do agree with you 100% on the idea that the index moves more steadily. It is also nice not to have to worry about gaps. This is why I prefer to play OTM credit spreads on the index. If you trust bullish/bearish trendlines...

I'm not familiar with OE charting services or what criteria they use to make the determination, but other than using an "overbought/oversold indicator", there are technical indicators that you can use to determine on your own whether an equity is overbought or oversold. Many people like to use...

Yeah, this month I find myself ending up in a lot more IC's than normal. I'm starting to get the idea however, that the range is going to shift upward a bit. In other words, reach up to 1320 or so, and only get down to about 1270.

You know... I think you just might be right. My take on it was that it has resistance at 82 and would be headed down. It could indeed have resistance at 82 but be rangebound instead. In which case your IC is going to rock.:D But at the same time, my long puts are going to suck.:mad...

IBM was getting too close to expiration and theta is killing me. It is currently sitting right at resistance and has yet to make the move that I expected. This is the point I had hoped to buy at in the first place. My opinion on them is still the same, so I sold the MAR put and bought 2 APR...

I'm not coach, but I'm bored at the moment so I thought I would post my opinions for public scrutiny. It has been my experience (as I heavily trade both individual stocks and indices) that an index such as SPX does not follow support/resistance like an individual stock does. This is probably...