Market Calls

[MAESTRO]

Quote from Samson77:

Stop 10208 on last half of my long YM position.

If stopped it will be a break even trade and a break even day.

Target still 10280

Whipsaw day! I'm still on the fence. Will see what tomorrow brings us.

 

[Samson77]

Good job Maestro

Tough day, I'm done lots of work for nada!

Really should have had my stop at 10225 and kept a little profit in my pocket today.

 

[MAESTRO]

Quote from Samson77:

Tough day I'm done lots of work for nada!

Really should have had my stop at 10225 and kept a little profit in my pocket today.

You did well not losing much money today! A lot of folks that I know got demolished today. Tomorrow will be a better day, I hope.

 

[Free Thinker]

Quote from MAESTRO:

You did well not losing much money today! A lot of folks that I know got demolished today. Tomorrow will be a better day, I hope.

demolished? what happened today that was that extreme?

 

[MAESTRO]

Quote from vhehn:

demolished? what happened today that was that extreme?

A lot of trend traders with tight stops got whipsawed that's all. I can see how it might happen. One friend of mine traded NQ today and had 5 losing (stopped out) trades in a row. Obviously, if you are counter trend trader then today is your day!

 

[inandlong]

I'll play here...


Short JCP May 45 Calls at 2.75. The underlying sold off from the high at the 40sma today again.

I'll make it a covered call at b/e.

 

[MAESTRO]

Quote from inandlong:

I'll play here...


Short JCP May 45 Calls at 2.75. The underlying sold off from the high at the 40sma today again.

I'll make it a covered call at b/e.

If I may comment. I thought that selling May 50 Calls would be a better play as the premiums after deducting the intrinsic values are virtually identical and 50 is a better physiological level. Delta is pretty good on 50 (0.27) . Theta is increasing rapidly so you might be making the same profit with a lot less risk. But its just a thought. I might be wrong here. Good luck to you.

 

[Samson77]

Even though I'm flat and staying so till tomorrow side bet says we open at or above that pesky 10280 I wanted today just to spite me ... lol.

 

[MAESTRO]

Quote from Samson77:

Even though I'm flat and staying so till tomorrow side bet says we open at or above that pesky 10280 I wanted today just to spite me ... lol.

You might be right. A couple of dogs report tonight. We shall see.

 

[rubberbird]

Quote from inandlong:

The purpose of the Market Calls journal is for traders to post their market calls as it pertains to individual trades. Whether it is an entry you are anticipating or have recently made, please feel free to post it here. A very brief statement about the method used to select your entry/exit is welcome also.

Please guys.... let's try to maintain a forum for the exchange of information beneficial to active participants and also for the many members who read our website daily but choose not to participate.

Guidelines for posting:

1) Your call should be fairly specific regarding the instrument and entry price or landmark.

2) An explanation of your thinking is welcome.

3) Disagreement is not welcome - this journal is for market calls, not debate. If you disagree with a call, it will be obvious when you post your own call in the opposite direction.

4) Bashing, profanity, vulgarity will not be tolerated. Keep it professional.

5) Responding to bashers is discouraged. Please, if someone finds it difficult to participate in a manner consistent with the guidelines, do not engage in discourse with them whatsoever. This will be our way of policing ourselves and preserving an environment conducive to our benefit.

Every one of us knows what is and isn't an appropriate post. We are not looking for argument or disparagement.

Good luck!

Hi Inandlong,

I didn't read anything in the above quote except the first few words, but I defintely will. I think your idea is great. From now on, this is the only place I live on ET. I hope you're doing well, and am glad to see you back like this.

Rubberbird