Perfect example of why S&R is just plain wrong analysis.

[PennySnatch]

There is such a thing as S/R. And there is another thing called context. They work together.

 

[wxytrader]

Great call. Too bad you didn't have the conviction to act on it. Another shoulda woulda coulda. Oportunity lost.
I know you'll let us know when you take a position.

I did. I looked up puts the other day, and they were priced to the point you couldn't make money. Even if you got the direction right. I mean you could short it straight up but would need to risk a lot of capital which I'm not prepared to do. I'd rather take the long side.

 

[deaddog]

I did. I looked up puts and they were priced to the point you couldn't make money. I can show you a BITO example right now as well . Even if you got the direction, you can't make money off it.... I mean you could short it straight up but would need to risk a lot of capital which I'm not prepared to do. I'd rather take the long side.

I'm long BITI.

 

[wxytrader]

I'm long BITI.

I meant BTCC.B (cheaper & CAD)

 

[deaddog]

Even if you got the direction right. I mean you could short it straight up but would need to risk a lot of capital which I'm not prepared to do. I'd rather take the long side.

Why do you have to risk a lot of capital?
I determine how much capital I risk. Of course I'm willing to take losses every now and then.

 

[hilmy83]

I did. I looked up puts the other day, and they were priced to the point you couldn't make money. Even if you got the direction right. I mean you could short it straight up but would need to risk a lot of capital which I'm not prepared to do. I'd rather take the long side.

What's the point of this then?

At least the weatherman gets paid making predictions.

 

[wxytrader]

What's the point of this then?

At least the weatherman gets paid making predictions.

The point is timing the long...or buy BITI

 

[Money Trust]

Kind of messy but this was my analysis during that time and has been updated as things have unfolded.

 

[hilmy83]

The point is timing the long...or buy BITI

So you have a position on? Why not post that?

 

[wxytrader]

Why do you have to risk a lot of capital?
I determine how much capital I risk. Of course I'm willing to take losses every now and then.

Well I don't look at making $1500 in a week...I wait in the weeds for the long run.