My Options Play

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Quote from iceman1:

anyone look at BBY or IMCL?
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Iceman,

There's nothing that can make me touch a range bound stock like BBY, although with the possibility for uptrend. IMCL is in a bearish mode but seems to be getting ready to go North; how long the uptrend will last is unknown to me. IMCL and BBY are not in my good list, at least for now.

What are you expecting IMCL ad BBY to do?
 
Quote from Multioption:

I'm looking at PEET, RL, and TRID Call options.

My thoughts:

PEET: This stock is like an airplane trying to take off. I won't be surprised if it climbs to 33+. Could also gap up!
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More specifically, why PEET?

Looks sort of "cup and handle"ish to my (very) amateurish T/A eye (I don't use T/A, just price/stats data)?

Or is it the WSJ article?

Good luck on your $9K bet! (BTW, I see 42 contracts traded on the Oct 30s, so looks like Multi really is a trader :) )

C
 
2 were mine, i saw his go through and thought i'd play along with the home game...

hehe also, i've had only a few trades signalled today in my own systems... wasn't there something about the devil and idle hands?

anyway, we'll see how this turns out!

- The New Guy
 
I've not put a stop loss on the PEET Oct 30 Call. I'm watching the intraday for a shift in trend mode; none has happened yet. I will update. :)
 
Quote from Multioption:

I've not put a stop loss on the PEET Oct 30 Call. I'm watching the intraday for a shift in trend mode; none has happened yet. I will update. :)
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cool, hopefully i didn't torpedo your trade! ;)

- The New Guy
 
Quote from Multioption:

My strategy after many years of ratio-backspread, butterflies and other crappy strategies were narrowed down to outright options; Calls, Puts, with adjustment if and when necessary.
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Multi, appreciate your insight into your option philosophy. I'm skeptical, but still front row. Seems you walk the walk.

If I could borrow your line there then I could write it:

My strategy after many years of MACD, Stochastics and other crappy strategies.........

(that’s only MY experience).

Give us a glimpse into the tech side, the stock side, if you will. That’s the fascinating part. Thanks.
 
Quote from nonprophet:

Multi, appreciate your insight into your option philosophy. I'm skeptical, but still front row. Seems you walk the walk.

If I could borrow your line there then I could write it:

My strategy after many years of MACD, Stochastics and other crappy strategies.........

(that’s only MY experience).

Give us a glimpse into the tech side, the stock side, if you will. That’s the fascinating part. Thanks.
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Hmmm. Did you say MACD is crappy? I think otherwise! MACD should not be used as a stand alone indicator, and should also not be used for entry signal. It's better used as a gauge! It informs me what is not likely to happen. It also butresses the existing trend.

Stochastic has its merits and demerits. For example, PEET daily chart is showing Stochastic (14, 3) at overbought level which may suggest to rookies and gullibe traders that the trend is due for correction/change. I wouldn't be surprised to see PEET drop 0.30 or more in response to Stochastic, but guess what? Short signal from Stochastic would not hold.
 
Quote from Multioption:

Hmmm. Did you say MACD is crappy?
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No, just that it doesn't seem to work for me. But I'm very open minded especially if it turns out to work for you. :)
 
Quote from Multioption:

I wouldn't be surprised to see PEET drop 0.30 or more in response to Stochastic, but guess what? Short signal from Stochastic would not hold.
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OK, but why not?
 
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