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Wow. Hilarious (and nice) . It's time to visit europe again. :cool:

Filled at 1351, and sold my last put from last week for 52.75 . Stop is sitting at 1331 (for now).

No they are not. My size will be double on 1380.5 than that of the 1376.5 size. I will also be using mostly options at these levels and just one SP futures contract at 1377.75 (in case of a quick spike, but no option fills). Good trading to everyone.

I have to be away from the computer for a few hours, so I'm placing a sell limit order at 1376.5 and another at 1380.5 as I see that area acting as a strong resistance for today. Stops sitting at 1385.5 (for now).

The way I see it, other than for "flight to safety" concerns, yields should be rising not falling. So other than the fear factor, it's hard for an investor to accept 2.5% when they could be doing much better with stocks over the long run. But I suppose anything is possible in todays markets.

That's a good entry Jagmot. I have orders sitting at 1351 GTC to go long perhaps as early as Sunday night. I sold my puts (except one) that I've been accumulating from yesterday. Unfortunately, I exited many of them too soon :mad: Nevertheless, I made some $$$ on them.

Thanks Rtrader2525. I'm definitely planning to but I'm currently tied up with several personal matters that's making it quite difficult at the moment to dedicate quality time to my upcoming options journal. I'll definitely keep you posted though when it's up and running.

I think you have found a good place for your stop. I see 88-90 to be solid resistance with oil rallying 14 dollars in 2 days. Quite amazing how the market reversed even though yesterday we finished with a large advance/decline ratio. Once again, good trading to you and hope you get your dowside...

Nice trading Jagmot. What is your typical size when you put a trade on?

Correct my man. You always have to say to yourself "what if" and "Where now" to stay a couple of steps ahead of the market. I do it every morning when I get out of bed, and at bed time before I close my eyes. This mental exercise makes me that much more relaxed when I initiate and/or add to...

True. It did affect mine yesterday when we broke the 1400's. The bond market is selling off nicely. Perhaps this money will find a new home in stocks.

I like your projections, more so now that we have broken the rising wedge. However, wouldn't be nice to come back and test the lower TL of the wedge coming around 1420 before heading eventually lower? Of course, I'm just dreaming :)

Thanks for asking. I've opened new positions in the 1390 calls when we slipped below 1400, and sold out of my last Put. I'll be holding my call positions till expiry (next week) or 1420, which ever comes first. The model tells me that tomorrow should be an up day which would be nice since I'm...

Sold one more 1410 call early this morning for 19 from (15.43), which leaves me with 8 calls and 1 put coming into the RTH session.

Thanks. How about accuracy?

That's a nice one even though I prefer to look at steeper rising wedges. I assume that one would place a protective stop at the top of the upper line of the wedge or choose the high of that swing.

Thanks for your explanation. I wonder though if anyone has done any deep research regarding UP wedges, and what is their accuracy in predicting a break? Also when they do break, what is usually the size of the move in relation to the length of wedge (from bottom of wedge to top)? Does it retrace...

Wow. A narrowing wedge and diverging indicator! Does it mean that 1350 is around the corner?

Since my last post, I've added three more May 1410 calls (one for 15.75, and two for 14.50) for a total of four with an average price of 15.43 . I've also added one more May1430 Calls at 5.75 for a total of six with an average price of 10.99 on those. However, a few minutes ago, I've just exited...

Thanks for your interest in my upcoming journal and I have no problem for you posting in it so long as you follow the journal's guidelines and etiquette that I'll be setting out from the beginning to all interested posters. I commend you on your profitable option trades. If it works for you well...