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I´m going to have to chew on that a bit. Basically you are looking for a buy opportunity, or averaging down, if SPY drops below -15% of yesterdays SPY close? Then averaging if it drops -30%, just to get back, to break even of yesterday´s close. I´m looking at a sideways market, of...

Just checked SPY. There is definitely a BUY ORDER for calls here. Unfortunately, I have no more money in the budget. Now you guys have me looking at all kinds of things outside of my comfort zone. I think I´m going to have to pull back on number of contracts and diversify the trades? The...

Sounds a very interesting approach. Would like to know more. I wonder though how many contracts you are buying? You are buying CALLS so presumably my QQQ´s are safe? ( grin :confused: )

All I hope for now, is to breakeven and cover my commissions, if I can get it? I got a feeling this market is turning, or has turned? My nerves of steel, got filed pretty thin this morning. Never even got to the beach for a swim. Have to be after market closes, which is 3 p.m. here.

Jeff What made you pick 91.50 as your target? You are almost there, and it could apparently go either way? Much more down in a breakout down possible, or just peak as a bottom?

Believe me, I´m sitting on tenter hooks, waiting to see what is going to happen to my 10 contracts, that are bottoming hopefully soon. Or big loss too.

Thankyou! I guess that is the same Earnings Report I have been using. I just use GOOGLE and write US Earnings reports and it comes up. Good to know we are on the same page though. Us amateurs need all the help we can get. ( grin :cool: ) I´m paper trading NFX and HLF now for one...

HLF Did that just have an Earnings Report yesterday? I´m looking at CHK and NFX to see how they do POST earnings for a week. On paper at least.

falconview, IYT is the ETF for the Dow Jones Transports. I want IYT looking "weak" because I bought puts! Its just about the only etf with a negative 10dma/20dma bearish crossover. Everything else is parabolic (straight up). MT had a perfect pullback to the 30dma. Its rare to find anything...

Whoops! double checked and the down trend is still good in IYT. Sorry for that.

Whoops! IYT that is.

Jeff I show ITY forming a nice bottom. If had the cash would buy some now in CALLS.

Jeff I didn´t do much, but looked at your 10, 20 Mavg. xover. Didn´t seem to work very well. Added a 9 day linear moving regression line to it and it signaled much better. I´sure there are other variations that would also work better.

Got me interested Jeff. Never having traded options on stocks before. I looked at MT and that would be a trade by my criteria and I´m thinking about it. IYT certainly is a trade but it looks weak. Going to take another look at it from another angle. Not at all sure I want to trade...

Well I´m in for two trades. One is my regular QQQ thingy. Short term. The second trade is one of RYAN´s types based on Earnings Calendar dates. This one was CIGX.

Tuesday morning and waiting for the market to open. In the meantime, after watching the sun rise over the barrier reef, breakfast and such, still time to waste before market opens. So been reading up on earnings trading. Lo and behold I found a website that actually teaches what Ryan...

Been reading up, this weekend on what Ryan is doing. I get the general idea. The statistics say he will make money if he wins 1 in 5 trades. Which is born out by his phenominal equity curve rise. Very interesting idea. Not sure I could do it. I´m playing around testing alternative...

My sympathies Jeff. Was reading up on trading earnings reports. A lot of studies. One tidbit I picked up someplace, was there are a small bunch of people doing what Ryan is doing and making positively indecent amounts of money. ( depends on your viewpoint of course) My straddles with...

Nine Ender I think you are misunderstanding? Ryan is primarily making straight directional bets only. a) He has already long passed using his own money. He is gambling with the casino´s money. He can risk as much as he wants and get away with it. A different argument might be he...

OOhhhh! Okay Atticus my friend. At my age I forget a lot of things. Sorry about that misunderstanding on my part. Thankyou traderlux for understanding my point I was trying to get across. Glad somebody did. In the meantime, a day trade today is now closed. Upped my contract size from 5...