Brave New World

Fair enough,
I cannot access your trading log, but suffering consecutive hits should tell u there is something definetly at odd and don't underestimate what can happen when your account shrink and u feel the need to chase those losses, even if they mean little to u. Staying on the sidelines is the equivalent of breaking even and if u consider breaking even trades as winners, not trading is like winning and this thought process will help u to keep motivated: taking a break can dramatically change your attitude and renew your strengths.
don't get me wrong, maybe it was really just a series of rush decisions and I am not here to criticize u: u made the right choice by deciding to swing trade and I wish u all the best.
 
Quote from Bitstream:

Fair enough,
I cannot access your trading log, but suffering consecutive hits should tell u there is something definetly at odd and don't underestimate what can happen when your account shrink and u feel the need to chase those losses, even if they mean little to u. Staying on the sidelines is the equivalent of breaking even and if u consider breaking even trades as winners, not trading is like winning and this thought process will help u to keep motivated: taking a break can dramatically change your attitude and renew your strengths.
don't get me wrong, maybe it was really just a series of rush decisions and I am not here to criticize u: u made the right choice by deciding to swing trade and I wish u all the best.
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I agree completely.

I stood on the sidelines, contemplating, for two full weeks. A relatively long time, considering I placed my first trade six weeks ago.

My adjusted strategy was born of that reflection.

Swing trading was a lifestyle choice.

And I know traders who are making a very nice lifestyle with their swing trading :p
 
Quote from Neoxx:

A relatively long time, considering I placed my first trade six weeks ago.
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Lost ten days in a time-warp somewhere.:confused:

Meant to say seven and a half weeks.
 
Neoxx

Trading since 1978....before the apple 2....when pneunamics moved the tape...when air tubes moved the orders to a typist...and later when the innovation of instinet allowed one to independently enter between the bid ask...and now finally being able to enter through direct access with unlimited charting...and at .001 per share with instant fills thanks to ecns....

Yes indeed ....miss PRICE = P...definitely always has a reason for its movement...and that is every movement...and most of what happens today is moving at an algorithmic pace...and most certainly P has definitive movement...

Those who catch on...will enjoy their worldly freedom...at the address of their choosing....and at CEO rates...
 
Gracias por su mensaje.

Cada dia, intento aprender algo nuevo de Senorita Precio, y su amiga intima, Volumen.

Porque yo tambien, estoy esperando mi libertad...
 
Snapped up the Feb ATM bull put spread for SHLD when it was trading near 25 earlier today. Split the b/a for a 1.80 credit.

Looking at the ATM bear call spread for APOL. It's been in a nice downtrend, formed a hanging man at resistance (October's support), and assuming it closes down today, will have formed a bearish engulfing pattern. I'm hoping to enter this one in the last half hour today, during which time it will hopefully have dropped a little lower offering a better credit.

I like ABX. Am generally bullish on the precious metals, and this one has been forming a nice ascending triangle, using the 20 SMA as support. However, the calls are overpriced, spreads don't offer much credit, and the options are a little too thinly traded for comfort.

TXN was another one on my watchlist. I was convinced it had pulled back to it's trendline (established start of '05) and was poised to rise. However, strong selling shadow on Friday, and a long red candle so far today. I'm keeping an eye on this one, and I'll go long if it confidently penetrates the 200 SMA on good volume later this week.
 
Quote from Neoxx:


Looking at the ATM bear call spread for APOL. It's been in a nice downtrend, formed a hanging man at resistance

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Should read shooting star.

In any case, got side-tracked and that one escaped me. Keeping it on my list for tomorrow.

AAPL made a powerful move up, bursting through the 50 SMA on strong volume, and engulfing the two prior red candles. Entered the 75-70 credit spread for 1.75 credit. Selling pressure prevented it from breaking through resistance but I'm still confident it can rise above.

EBAY ground to a halt at the bottom of it's 4-point channel. Contemplating the March 40 calls if it closes up tomorrow.

Google also looks to have settled snugly at around the 427 mark. Warily eyeing the option chains...
 
Position Review

SGP Aug 17.5 Call

A menacing red candle today, on high volume, but the 19.50 support held. If it drops further, I’ll be stopped out at 19.40 with a ~1% equity loss.

CELG Feb 65-70 ATM Bull put spread

Selling pressure evident today as it approached the highs of 9-11 Jan. Overall, closed down, but buyers kept it above the support zone at 69.20-.50. I’m hoping it will either bounce or drop back to the 20 SMA before bouncing. If the 20 SMA doesn’t hold, I’ll buy back the short leg and set a tight trailstop on the long leg.

MO Mar 80-85 ITM Bull put spread

The tobacco giant back in disfavour as the bears wrest control from the optimistic bulls. Support held firm however. If this one drops below 73, I’ll simply close with a small loss.

QCOM Feb 50-55 ITM Bull put spread

Rising nicely, but I’m not sure if it has the momentum to breach resistance at 49. Will see how things develop.

SHLD Feb 125-130 ATM Bear call spread

Got in at around 124.50, right before an ominous 3 point drop to the 20 SMA. I have high expectations for this one. Should it trampoline back up I’ll buy back the short leg at 126.

AAPL Feb 70-75 ATM Bull put spread

Clear pressure at the $75 resistance area but the strength of the reversal should push through. 78 will be the next test, which if passed, leaves a nice upside cushion. If 75 holds, I’ll reverse into a long put at 71 or 72.
 
Quote from Neoxx:

]Looking at the ATM bear call spread for APOL. It's been in a nice downtrend, formed a hanging man at resistance (October's support), and assuming it closes down today, will have formed a bearish engulfing pattern. I'm hoping to enter this one in the last half hour today, during which time it will hopefully have dropped a little lower offering a better credit.
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I have positions in APOL

if I may ask-- where do you see a bearish engulfing pattern on APOL?

iceman1
 
Turns out SGP had an earnings call today - which I was completely oblivious to - and I should be thankful it didn't drop any lower. Hopefully, the damage has been done and it will commence it's ascent.

MO have a 4th quarter earnings/year in focus conference call tomorrow. Won't get home until ~2pm EST. Well, at the very worst I'll lose ~1% equity (5-point spread with 4.30 credit).

About time one of these unexpected earnings calls went my way! :p

Need to establish this routine of checking news pre-order and again nightly. Can't afford to have too many more surprises...
 
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