Intraday/Swing Plays

Originally posted by TonyOz
Babak,

I said [even] "The most conservative price target at 54.99 would have been good for 1.61 reward"

I was referring to the highest price target the calculator showed :)

I use the sideways market right now for my price targets.

Tony
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Hey Tony - Would you mind giving me a couple set ups you're looking at for the morning so I can check the charts and figure out which indicators you monitor.

Thanks.
 
I don't look at any setups overnight.

Everything I do comes from Real-Time intraday scans. I go into the day without an opinion, and I trade what comes up on my scanner if I like it :)

Today, I traded CECO and AMMB off the Power Trader and New Kid on the Block Scans.
 
The QQQ's penetrated support and broke yesterday. Selloff still expected due to neutral investor sentiment. Dow, Naz and S&P are all testing last weeks lows. Durable Goods report was weak which will fuel a lack luster attempt of a rally today.


DIS - Buy
Stop: $24.5
Target: $28.75
After a recent breakout, DIS is holding support and is gearing up to move higher.
 
Stopped out and covered 2,000 DOX @ 23.15

+ .83 points

DOX had 3 downgrades this morning then rallys 1.5 points intraday. Go figure!
 
Did anyone go long $SOX puts a few days ago? This sector is crashing and won't stop. I might close out my position near the close.
 
I sent out an order to close my $SOX puts @ 38.50 five minutes before the market closed and haven't received any confirm yet. I'm on the phone with my broker statusing this trade......
 
Originally posted by Seanote
I sent out an order to close my $SOX puts @ 38.50 five minutes before the market closed and haven't received any confirm yet. I'm on the phone with my broker statusing this trade......
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My broker is still on the phone with the Philly exchange. The Philly told him they lost their line with the firm I'm trading with and they will have to contact the specialist. It's more like MY B/D lost their connection with the Philly.... I do not want to carry this position overnight. Too much profit to risk!

I haven't run into this type of issue with options near or at close, only equities. They have until 4:02 pm to execute the option trade anyway...the connection should have been restored by then. Does anyone have any experiences like this one so I have an idea of what to expect?

Thanks.
 
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