My Options Play
- Thread starter Multioption
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I probally shouldn't make this forecast since there was some aftermarket trading according to 007 but here goes.
Probally track sideways with a possible higher high over 17th high and a possible lower low too. Short on any penetration of 26.12 once the top is made by intraday tape, That could meand 26.12 to 27.00 or even higher, just watch for top. This is the best early morning senario. If it trades down first without going up first to 26.12 then go long at 25.70 to 25.40 area when it appears bottom is made on tape. Of course put stop losses. Cover any short on same day. Get out of long same day.
Probally track sideways with a possible higher high over 17th high and a possible lower low too. Short on any penetration of 26.12 once the top is made by intraday tape, That could meand 26.12 to 27.00 or even higher, just watch for top. This is the best early morning senario. If it trades down first without going up first to 26.12 then go long at 25.70 to 25.40 area when it appears bottom is made on tape. Of course put stop losses. Cover any short on same day. Get out of long same day.
Interesting !
Thanks !
Thanks - I'll be watching...
I'm currently experimenting a new methodology, and I don't know yet how reliable or accurate it is (or will ever be). Per the attached chart: tomorrow should be a down day for GOOG with a flex point around 10:35 am EST.
Yes Yes I know, you have made your point. You are an option and TA expert, your trades have proven it. Carry on.
GOOG This is a tough one to call. You got a narrow range but upward price movement. I may be wrong on this one but I am going to say it will make 405 to 406 before it trades down for the day. I would short early in session if it reaches there and intraday tape appears to say it is topping out. I know shorting is against the present trend but this is a day I would allow shorting by my rules. However if it trades down first then my rules also allow me to go long if it does so within first 1.5 hours from the open. So if it trades down first I would go long at 399.20 to 399.50 area when it looks like bottom is made on intraday tape. I imagine GOOG has bewildered many a trader last few days! No water at house this morning so I had to check on that first that is why so late getting this out but I think I am getting sent just before the open.
DIS went down first. Opened down .49 cents. When I see something like this I would stand aside wait for the bottom and go long. Or hold off all together and wait to trade it the next day. It has been in distribution and it looks like the markdown has started early in the session. When I see price action of this sort I would ditch my forecast and stand aside. I would dump the new data into my software 30 to 40 minutes after the open in this case and re-analize before I would take any position in this stock. In this case with this open and trading down rapidly I would have not heeded my forecast of going long at 25.40 to 25.70. Forecast is off for this stock.
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