My Options Play

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Quote from cnms2:

DNA $92.59, down $-1.36 or -1.45%. My quick take: long term uptrend, but now looks like accumulation with support about $80; resistance $95. Short term: similar but a little less positive, because it is overbought, shows some bearish divergences, it is over extended above the 22 ema; some support at $88 (50 sma) and $86. I would take profits here, and if technicals remain the same I'd be looking to re-enter at short term support with a tight stop loss, which if taken to re-re-enter in low $80s. :)

What do you think? Keeping the same forecast from last week?
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support at 80? :eek: :eek:

U mean it has to get back to 80s to find support? IF it breaks 80 it could go to 60s -

right now lets see if it even trades back to and <90
 
Quote from iceman1:

support at 80? :eek: :eek:

U mean it has to get back to 80s to find support? IF it breaks 80 it could go to 60s -

right now lets see if it even trades back to and <90
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You may be right. What I wrote was based on a quick look at weeklies and dailies.

If I go down further, the 60 min is bearish: a divergence started last Tuesday. The 10 min is bullish now, telling me that if I want to take profits I can wait a little because a bump up might come.

As you know technical analysis is based on statistics, so it's not always accurate, and it is very subjective and only as good as the chart reader is, and we're all humans and make mistakes ...

Are you in DNA currently?
 
Quote from cnms2:

Are you in DNA currently?
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no - most likley won't take a position until post-expiry although there is a decent o/i on Nov 90/95 calls - (which I "think" might signal lower prices )

had it traded back to 94-95 -- would have entered ITM puts and long 100c
 
Why can't some traders exercise patience? Why the urge and desperation to trade?

To those who are asking for trades: be patient!

You are right. Super relax and don't rush into any trade. If you don't find any trade to do, then don't do it. We are not here to entertain each other or generate excitement by some risky trades.
 
Quote from Multioption:

Why can't some traders exercise patience? Why the urge and desperation to trade?

To those who are asking for trades: be patient!
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Question: Can you explain your strategy as how you pick your trades and how you pick the particular option to trade?

Multioption: Technical analysis.

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Your TA has only produced only 3 trades in over 1 month. Why does it miss so many trades from high quality stocks (GOOG, AAPL, SNDK, DIA, etc.)? This thread is a good example of what happened with your trading:

* CHS = good easy gain.
* PEET = came close to losing but you came out ahead.
* BBY = you bailed out early, would have been 3rd winner out of 3.

Even though you are up on the 3 trades that 3rd trade put some FEAR in you and you have been hesitant to get back in. Now your 4th trade is key, if it's a loser that will be very hard on you, but a winner will get you back in the game. I find it odd that even though those trades have produced a nice profit, 1 bad trade scared you off.
 
Quote from uninvited_guest:

Question: Can you explain your strategy as how you pick your trades and how you pick the particular option to trade?

Multioption:Technical analysis.

Your TA has only produced 3 trades in over 1 month. Why does it miss so many trades from high quality stocks (GOOG, AAPL, SNDK, DIA, etc.)? This thread is a good example of what happened with your trading:

* CHS = good easy gain.
* PEET = came close to losing but you came out ahead.
* BBY = you bailed out early, would have been 3rd winner out of 3.

Even though you are up on the 3 trades that 3rd trade put some FEAR in you and you have been hesitant to get back in. Now your 4th trade is key, if it's a loser that will be very hard on you, but a winner will get you back in the game.

I find it odd that even though those trades have produced a nice profit, 1 bad trade scared you off.
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When you trade a system you trade what and when your system says. It doesn't matter if your last trade was a win or a loss.
 
Quote from cnms2:

When you trade a system you trade what and when your system says. It doesn't matter if your last trade was a win or a loss.
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Emotionally it matters. FEAR is very powerfull and can keep you from trading. GREED will prevent you from closing a winning position only to see it turn into a losing position.

Happens all the time.
 
Quote from uninvited_guest:

Question: Can you explain your strategy as how you pick your trades and how you pick the particular option to trade?

Multioption: Technical analysis.

---------------------------------------------

Your TA has only produced only 3 trades in over 1 month. Why does it miss so many trades from high quality stocks (GOOG, AAPL, SNDK, DIA, etc.)? This thread is a good example of what happened with your trading:

* CHS = good easy gain.
* PEET = came close to losing but you came out ahead.
* BBY = you bailed out early, would have been 3rd winner out of 3.

Even though you are up on the 3 trades that 3rd trade put some FEAR in you and you have been hesitant to get back in. Now your 4th trade is key, if it's a loser that will be very hard on you, but a winner will get you back in the game. I find it odd that even though those trades have produced a nice profit, 1 bad trade scared you off.
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Scared off? How many trades have you put on within the last 2months?
 
Quote from Multioption:

Scared off? How many trades have you put on within the last 2months?
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Please read my post more carefully. I will add another observation of mine:

The BBY trade is what did you in emotionally. You made the RIGHT call but sold too early only to see your calls go up for a healthy gain, without you. Thats tough to take, if BBY tanked after you sold you calls you would be better off emotionally and maybe made 1 or 2 trades after.

I know from experience, selling GOOG calls to early and missing 200% additional gains, buying HPQ and AMD calls weeks too early, getting stopped out by a few pips in Forex only to see 100 pip move in my direction, without me. The worst loss to take is when the stock moves in your direction after you have exited the position.
 
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