Dr_Explode posted the www.hardrightedge.com link on another thread. In the Traders Wheel sections I already found a couple of good articles related to swing trading.
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My Options Play
- Thread starter Multioption
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I've been focusing on the weekly charts. If you open up a weekly chart for the past 3 years, you might see what I saw. I prominent Down Trend with fairly predictable spikes up, and then fast and painful retracements. (32 was as far above it upper-weekly band, as ever)
I tried to catch the top at 32, I bought 10 contracts a few days back. Once it breaks 30, I think 25 will be hit failry quickly.
Perhaps you're right though, I may want to wait until the short-term trend is re-established downward, but looking at the long-term trend, I couldn't help myself. ... PATIENCE, I keep telling myself, yet rarely listen to my own advice.
Thanks for the feedback though.
I tried to catch the top at 32, I bought 10 contracts a few days back. Once it breaks 30, I think 25 will be hit failry quickly.
Perhaps you're right though, I may want to wait until the short-term trend is re-established downward, but looking at the long-term trend, I couldn't help myself. ... PATIENCE, I keep telling myself, yet rarely listen to my own advice.
Thanks for the feedback though.
Nah...
"...covered call funds have averaged 70%" can't be done. Run away from those liers!
"...covered call funds have averaged 70%" can't be done. Run away from those liers!
Quote from ezpup:
I have been following each trade for about 6 months with this covered call strategy: "<url>www.kingdomcapital.com</url>". "...covered call funds have averaged 70%. With a 0% showing in 2002 (our worst), we have kept losses to a minimum - growing our Funds 20-fold over the past 7 years! At this rate $400,000 grows to $8M in just seven years and to $160M in 7 more! All this using the headache-free approach of selling covered calls."
Of course with more risk is more return, but over time is this doable???
Several stocks are on my watchlist...will initiate new positions this week. Will let SNDK do the worst it can until April expiration. May contracts are not badly affected by yesterday's downgrade by Goldman....Quote from cnms2:
multioption,
I wonder what stocks are you watching these days?
Today I closed my SLB (long) and AMD (short) positions for profit (both 1 week old), and my DNA (long) position for a loss after 3 days of going nowhere (at least nowhere I wanted it to go).
Will update!
Quote from Multioption:
May contracts are not badly affected by yesterday's downgrade by Goldman....
Reason why downgrades/upgrades should not be allowed:
24 SNDK downgrades in 5 years: click here
SNDK 5 year chart: click here
Maybe Stupid. It fallls in line with my thinking. Stocks fall as quickly as they rise. (Especially, if they already are bottom feeding)
CECO is up 30% for March... 30%! People have to take profits, they have to ... If it gives back 30% of that 30%, 900 will turn into 3000, the most I'll lost is 500. I like my odds, considering i've seen some after-hours trading for under 41 already.
The only thing that concerns me is the volume ... HUGE volume today on this one.
CECO is up 30% for March... 30%! People have to take profits, they have to ... If it gives back 30% of that 30%, 900 will turn into 3000, the most I'll lost is 500. I like my odds, considering i've seen some after-hours trading for under 41 already.
The only thing that concerns me is the volume ... HUGE volume today on this one.
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