My Options Play

[Multioption]

Quote from cnms2:I don't have that book / video. Is it something you'd recommend?

NOPE! if you are like me - objectivist- you are not likely to gain anything from the book.

Quote from cnms2:I use MACD as part of my setup. Sometimes I use an intraday MACD as part of my entry, to jump into a short term trend.

I use more the MACD Histogram and the MACD slope for divergences, and less the MACD crossovers.

I thought as much....

I think as a twist to your technical approach, you can weigh the daily trend in light of the weekly, and intraday in light of the daily. However, you'll need to establish rules for the daily chart because whatever you do in options, the 1yr chart over-rules both the weekly and intraday, although time factor is a different ballgame.

 

[Boy Plunger]

Quote from iceman1:

what does the S& P have to do with a short trade in this equity... is there some meaningful correlation you have discovered ? :eek:

Everything. Yes.

 

[Boy Plunger]

Quote from iceman1:

well IF it's going to (could) trade to 30 why not go LONG... or put another way IF it has a 50% chance of trding to 30 and an equal chance of 24 as per your short sale post.... why do anything? ?

With odds like that i would stick to trading cracker jack prizes.

EDIT: listen iceguy, i'm a bit weary of talking to those who wear shades on cloudy days. Catch my drift? I obviously have plans for LYO to break to the downside and catch this break b/c of readings i have taken. Now, yes if it trades to $30 and collapsed it would be more profitable but i'd rather it trades lower from the low of my channel through my regression point to make it a quick trade. Capish compadre?

 

[cnms2]

Quote from Multioption:

cnms2, I advise you add Wilder's 14-day smoothing line to your chart and watch the effect.

Multi:

I checked out the Wilder's 14 day Smoothing Line and it is very close to the 22 day EMA I normally use on the dailies. It is even closer to the 30 day EMA.

Is there any reason for which you prefer it? The Wilder's 14 day Smoothing Line is quite different from the 14 day EMA.

Thanks

 

[pinabetal]

Quote from cnms2:

U_guest:

My take on AAPL: at all time high and strong uptrend.

I believe it is due for a retracement, and probably sooner than later. There are bearish divergences in all the time frames. Its beta is 1.52, so in a market downtrend will probably go down more.

I concur. It will head south for at least a day or two.

 

[uninvited_guest]

Quote from pinabetal:

I concur. It will head south for at least a day or two.

Good call pinabetal. I believe my quote is from Wednesday and you post Friday after market is closed.

Keep up the good work.

 

[cnms2]

Quote from uninvited_guest:

Good call pinabetal. I believe my quote is from Wednesday and you post Friday after market is closed.

Keep up the good work.

u_guest, don't be so reactive. You made a wrong call, but we all do so.

pinabetal quoted my post http://www.elitetrader.com/vb/showthread.php?s=&postid=879941#post879941 of Wed Oct 26.

My call was correct, but as you noticed my order was too aggressive and didn't get filled. So I was wrong too.

 

[uninvited_guest]

Quote from cnms2:

u_guest, don't be so reactive. You made a wrong call, but we all do so.

pinabetal quoted my post http://www.elitetrader.com/vb/showthread.php?s=&postid=879941#post879941 of Wed Oct 26.

My call was correct, but as you noticed my order was too aggressive and didn't get filled. So I was wrong too.

I'm not being reactive. pinabetal is posting too late, anyone can do that.

PS...sorry about your order, but you missed a good call over a dime. Always put the LIMIT order in at the ASK, or use a MARKET order, and then call it the day.

PSS...AAPL should recover during November.

 

[cnms2]

Whoever's interested can find a crush introduction in "volatility" at this link http://finance.groups.yahoo.com/group/OptionClub/message/5344.
Michael is a very knowledgeable trader. If you're so inclined, browsing through his posts on the "OptionClub" group you can acquire a lot of information.

 

[pinabetal]

Quote from iceman1:

right now BRCM is at support... my personal 'view' is that BRCM will be pinned at or above 42.50 by Nov 21 but the Q is: will it first trade lower to near the $40 level, which means it trades and likely closes below its 100 day ema-- nearer to its 150 day ema which is an indicator I tend to follow a LOT.

This would be a 'classic' thrust/shake-out on BRCM and could or might be a trading buy opportunity unless one believes "sell the so-called good news" will result in it being marked even lower than $40 (maybe near 38.50) in the short term.

demand came back in friday by the close so it should trade up some monday.