For Directional traders

Quote from Rob on Business:

Sorry to hear of your mom's misfortune - glad to see you're back! Yes, I was wondering as I was researching him whether the 2 Gary's were the same guy or not! Meanwhile, I made a big mistake. On Friday, expiry, I set a sell limit on my GOOG calls instead of a trailing stop, overconfident that it would trade up for the day. GOOG tanked latter half of the day, before hitting the limit, had to sell low as I'd been out working, only have a few hundred left in the acc't. Oh, well, scrape my way back up the cliff again!
By the way, where do you do your research on option greeks and volatility on a particular pos'n you're interested in?

Happy Trades...
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Sorry to hear about your misfortune, happened too many times to me so I get out before the third Friday of every month. Too many times have I seen forces so big make prices reach a certain 'favourable' point so they don't loose too much money, only to see the stock actual do what I thought it would in the next trading day or two. Maybe someday I'll try to figure out those nunances and ride them, but now I just stay away.

I am not in and out of the market as much as I believe you are so I don't pay too close attention to the Greeks as you probably do, and I never was any good with math (except musical math). To tell the truth I'm much more worried about P/E, Short Intrest, Float, Next earings announcement, Put/Call Ratio, and Analyst Recommendations (especially if their all lined up in the wrong direction!), and the Arms index. Mostly I use my Optionsxpress account, Stockcharts.com, stockta.com, and Yahoo finance ('cause that's what I used first and nostaliga draws me back more that I'm willing to admit.)

I'm with you with the low account, I lost a bundle. Nothing to take you away from the market with your Mom winching in pain all the time and no doctors around. I did catch Bulls and Bears while she was in surgery, but I couldn't really pay attention and Gary B. wasn't there anyway.

My RSAS puts are actaully still above water (I just checked!), thinking about Altria puts, its having trouble with its resistance.

Good luck out there!
 
Quote from qiuniu:

My RSAS puts are actaully still above water (I just checked!), thinking about Altria puts, its having trouble with its resistance.

Good luck out there!
More...
I don't know the greeks at all either, just wondering if you did and where you check. RSAS I see is rising, looks like the same pattern as DNA when I thought it would bounce off the resistance of $95. Incicdently, I'm playing the same scenario again except at $98, but it doesn't look good from here latter part of the day. Tomorrow or even after hours (AH) today will tell. That RSAS sure has a lot of overlap from day to day! Looks like you could make some money daytrading it! I'm just starting J. Cramer's Real Money book, and I'm getting pumped more than ever. I just gotta make some money! I'm getting it that I'm in, or not. Gotta be aggressive, which means be prepared to go opposite to the direction I planned if it's not going my expected way, instead of just getting out of that stock and into some other one. Like I should have with DNA when it passed $95. MO looks good for some more and looks like resistance was $75.60
 
Sorry Rob, RSAS is a call not a put and with the piddles I have in my account I'm going to cash in and put the $240 else where.

Glad you're into Cramer's book. I found the sector market rotation probably the most helpful. If only I could get my account large enough to go that long.

Kinda sucks with a day off (normally this is my Monday) and the markets all closed. OX is even updating the website so it take forever to get stuff. Back to reading until the turkey hits the table!
 
Quote from qiuniu:

Back to reading until the turkey hits the table!
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Amen to that! Happy Thanksgiving to you by the way! Hope that turkey was good! Our Thanksgiving is in Oct., probably because of a cooler climate in general and so shorter growing season. I will keep you posted on anything I find going well to try and give you a leg up into a profitable trade! Us guys can't be taking any chances with our butts skimming the water like this!
Currently, I'm in DNA, as I mentioned last post, but am not sure about it. Also in BBY, which is up strongly. Other guys on the My Options Play thread have suggested it will keep going to $52 and perhaps beyond before correction (now @~$49.50). FYI, it was a strong day Wed. til before close and then pulled back for the holiday, After hours showed up strongly again. You may want to enter at next open. If you look at the intraday charts, often it opens flat on an up day, rising very quickly in the first few minutes before pulling back to a day's low and correcting in the next hour or so before resuming its climb, so if it opens gapped high, perhaps wait for the dip, and if opening flat, get in right away. If you miss the first burst, wait til the day's low before getting in, but you'll see it on the charts.

Happy Trades...
 
Brian,

BBY gapped up and is holding steady so far - I was nervous this open, not sure whether it was a gap up for a down day or what! She opened above $50 and is floating above there now - I thought it might prove to be a resistance point. DNA is definitely broken to the down side, but not sure if it will try to rally toward $100 or not in coming days. From what I see of the fundamentals with my unskilled eyes, it looks strong. Hope you've found a good trade.
 
Closed out my BBY call for a good profit this a.m., bought a put right away as it was sinking fast. Still holding overnight (I have to because of my acc't's daytrade rules) and looking bearish with higher volume. DNA also went for a good dive, inflating my put nicely past the buy price, not sure where it's going from here. lost money on my SWN call this a.m., stock tanked the most in its recent history. Should be ready for a rebound tomorrow or next day. Recent history shows a clear candle followed by 1 or 2 darks, then a clear again- and I should have clued into that when I bought the call yesterday, expecting a down day today.

Is anybody still reading here?
 
Rob on Business,

Nice to hear your trade on BBY. Sold out of
NUS XW and ate up $550 loss. Did okay last week on XTO AH made $500 in 2 days and GM LX made $200 in 1 day. Shorter term trades seem to be working better for me. Also made about $200 on QQQQ and EWG (slight loss) for my 401K.
Still have UGO MC (sgtl), DLB CW (dlb) and ADQ MH (adsk). Today, I bought XQN AD (alxn) as a reversal play. Stock continued to drop.
Also bought 200 shares of BMD for my 401k.
 
Smallfil,

You keep a good pile on your plate! I have trouble keeping abreast of 3 pos'ns alone! What with the news and intraday jumps. I know, I should not be watching so intently. I make my decisions based on certain charts after hours and should not change them based on other criteria later. I'm having a hard time keeping my head straight and out of my emotions! I got stopped out of my DNA put at the worst possible point today, and didn't even notice it was an opportunity to ride GOOG's fantastic dive - I wasn't even watching it! Seems I keep only $10 for every $100 I gain. :(

Happy Trades...
 
To Anyone:

What are you using for streaming stockcharts and what is the most decent offer for the quality you've found? I'm using MarketWatch streaming charts and it's often got glitches, for ~$30/mo.
 
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