After a humbling round of golf this morning, and just finishing up an Interactive Class...I am just finding time to log a post for the day. I am going to take a twist today from discussing detailed topics to just throwing out trades today. In fact, I would appreciate any opinions on this matter.
I have a page counter for this site that logs all the hits it gets during the day. The numbers have dropped off by about 40% in the last week or two. I am concerned about this and want to retain your interest. I admit, I have stayed away from sharing specific trades recently from advice from my trading psychologist. She felt that the emotional pressure and superstition of sharing what I am trading was perhaps getting in my way of "doing my thing" which is making money. Since I have toned that down, my personal trading results are back on track, and of course I don't want that to change. I am thinking that perhaps some come to the site, don't see any trade recommendations, and bail.....which is fine. Leave a comment on this please. I do plan on getting back into the rhythm of putting trades out there, but for my sake I am going to take baby steps. If you agree that the lack of trade specific advice is what is causing the depleting numbers, leave a comment with your take on the matter. The intent of my blog is not to pass out freebies, but I want to do whatever is necessary to attract traffic to help everyone find a place to network.
Let's jump off and address this bull market with a few trade set-ups. I might discuss some of these on Master Talk tonight, so don't avoid the presentation because you got the material early. A few things I liked about today were...
CTSH- Ascending Triangle Breakout. Big volume, great stock, good target. Depending on how you measure the triangle, you may get a different number...$8 move.
AAPL- Great news yesterday, nice rally today, good volume, good time of the year to trade this stock.
HOG- I entered a trade earlier this week and continues to rise...great trend on increasing volume
AZN- Great stock, great trend, not quite ripe...but one to watch.
MS- Nice breakout on strong volume. Rumors of a merger, so be careful
WCG- 52 week high, great trend. Good confirmation today.
Other bounce candidates to consider...LTR & ARE. I am lacking time to walk through specifics at the moment, but will follow up as soon as I get a chance. I have positions in most of these and a few were entered today.
Hey Jeff: I've been checking in with you everyday-wheather you post trades are not. I just am looking in to your thought processes, and your knowledge. As for most of your trades, they are still too fast for me - but I think I'm still learning while I try to follow them. Thank you for being soooo generous!
Susan M
Posted by Anonymous | 9/13/2006 04:33:00 PM
I agree with Susan. I think the trading examples are great, but it's the other stuff that is more important to me.
Randall
Posted by Anonymous | 9/13/2006 04:58:00 PM
I love the trades (I can use all the help I can get) but I love the learning more. Some of it is over my head (that vega stuff!) but I check in daily for your pearls of wisdom and I know that the more of it I read, the more I will absorb.
Karen
Posted by Anonymous | 9/13/2006 05:15:00 PM
Jeff, we have followed your trading style since the first time we had access to Masters Talk. You can energize anyone. And as I have told you in the past, you are a natural leader, and generally leaders are great motivators. We have this site up at all times. We actually print off things because we don't want the information to disappear. We love your blog, and continue on with the education. We appreciate what you DO!!
Thanks again,
Bradley and Jennifer Howard
Posted by Anonymous | 9/13/2006 05:18:00 PM
Jeff: I do appreciate the trades, but I really appreciate all of your articles and comments about option pricing, etc. From your page it got me listening to your Advance trading rooms, pricing patterns. Which has really gotten me into looking at these potential trades. Looking back on my watch list that I've developed of these price pattern breakouts it has help me to see the potential of trading these patterns. I have been able to recognize these more on stock that I am finding in my searches.
Thanks for all you help. The trades are a bonus.
John VanDermyden
Posted by Anonymous | 9/13/2006 05:21:00 PM
Hi Jeff,
I agree with everyone actually, but would like to add that this is YOUR site... do as you will. We are witnesses, students, peers and above all, traders. Anything you wish to post will be taken for what it's worth... simply the musings of an experienced trader willing to share his knowledge, philosophy, and struggles.
I, for one, am so grateful to have this site to come to everyday. Sometimes I don't read everything, I know I need more time to absorb it, but I check it... It occurs to me that most often, i skip the trades, but rather look for the reasons you are entering the trades. I look for what you are looking for technically. When you talk about volatility, greeks, and timing, I'm thrilled. I look at the charts, the option strikes/prices, and see if I would have seen the same thing... and why or why not. What a fabulous learning tool. I am forever grateful that you have chosen to share all of this.
The ones who come in just to look for trades are those that will most likely fail... they're looking for anything, anywhere. We'll be here for the long term, I'm sure. I know I will be.
lisa
Posted by Anonymous | 9/13/2006 06:07:00 PM
Jeff,
Don't worry about hit counts. There are people (like myself) that consider this site invaluable. Whatever you decide to post on it is your business but i would strongly encourage you to continue to press on with concepts, ideas, lessons, experiences, whatever.
I realize that many concepts are advanced, but people should really take the time to learn them. There are plenty of sites that throw out free trades. I try and use your trade examples to 'check' what i'm looking for in my trades.
Keep pushing the envelope. Keep making us all better traders. And keep remembering that it isn't the quantity of people here but the quality.
And my oldest son didn't go to bed on time (again!) so i have to watch the replay of your master talk late tonight!
Thanks again,
Brett
Posted by Anonymous | 9/13/2006 08:20:00 PM
Fabulous session on MasterTalk. Loved the clear and concise explanation of volatility.
As to your drop in traffic based on no "gimmees'. I would agree with all that have stated above. There are plenty of newsletters that I could get a trade or two or other blogs that just say what was traded, however, this one tops them all. I feel like every post enhances my knowledge base and allows me to "fend for myself" instead of relying on others to think for me. I won't turn away a presented trade and do look at them and follow them, if for no other reason than to learn and observe.
Jeff, you have taught us so much and I look forward to reading what you are seeing and thinking. I always enjoy having you point out to me what I need to be thinking about - especially when I didn't even know I had to be concerned about that.
I think I can speak for the majority of those that follow this blog (if not, then for me at least) when I say that trading is a new process and skill we are trying to master. We are being exposed to sooooo many things (via the program) and feel the pressure to absorb sooooo much soooooo quickly.
However, a guy like you shoots it straight. This blog is a reflection of your heart. Here there is no hidden agenda and nothing is being sold. It is really based on the time tested format of student/master (maybe we should change your moniker to Master Yoda instead of JarJar Binks). It has really allowed me to see what I need to focus on and learn to enhance my skills.
You are 8 years ahead of me and I look forward to the day when I can offer to others what you have given me.
God Bless and keep this going...it matters!!!!
Posted by Travis Roy | 9/13/2006 08:45:00 PM
Personally, I don't really care so much about specific trades. Ultimately, I would still have to run the potential trades through my own set of trading rules. Even then, it might not be my kind of trade. Anyway, as some folks have mentioned, I am more interested in the thought process/trading psychology that goes on while finding the trade setup and actually executing the trade. This goes for both opening and closing positions. As for the 40% drop in the number of hits, at least it's the hits and not your equity. Ultimately, it is YOUR site and you should post whatever that is relevant to you. Since you're not selling this information, why do you need to care so much?
-Mike
Posted by Anonymous | 9/13/2006 09:14:00 PM
Jeff,
You have a "following". As you can see by these comments we are here to learn. Your sessions on implied volatility both on your blog and trading room have been so educational. I use the trade set ups as examples to what you are teaching all of us. I am so exited about what I have learned about implied volatility that I entered 2 trades this week to not only catch the price movement but the rise in volatility up to the earnings reports, AMD & NVDA which I don't think you have talked about until tonight on master talk (NVDA).
What you are teaching us is helping with all our trades.
I also check your blog a couple times a day to see what knowledge you are sharing.
Thank you for all your efforts.
They are greatly appreciated by many
Posted by Anonymous | 9/13/2006 09:23:00 PM
Aloha Jeff
Your thinking process on how to evaluate a trade is more important. The old "teaching a man to fish so he can eat for a lifetime versus feeding him fish for a day". I appreciate your time, thoughts and direction and hope you continue.
john kevan
Posted by Anonymous | 9/14/2006 06:58:00 AM
Master talk was great last night. Very systematic and simple to follow. I say that knowing it is "relative" to my situation. I've been struggling with keeping my head above the all the data/numbers and personal systems that I'm working through to find my own pattern for daily work/trading. Last night was perfect timing for me. Implied volativity was throwing me curve balls. I was never a great math person, but I have always loved the "puzzles" that math placed before me.
Also, working through my Advanced Tech course online, I'm learning that the more data (IV, Pricing Patterns, Candles, techicals, etc.) you apply, the more you can see...big picture stuff. I'm a firm believer that some people look at their hood ornament when driving and don't look down the road 300 yards...they don't get the big picture. Like I said, last night was just an added piece to the big picture.
As to the website...I like this format a little better than the forums in the online courses. Not to take anything away from the guys/gals that put a lot of time into that, it just doesn't fit my style learning style right now. I'm a person who really learns best by watching someone else do something and explain it to me along the way. This format does that for me. And add in Master Talk and the occasional hot line chat, and I'm doing well. As for my trades, I'm slowly....very slowly, getting better.
Thanks for you willingness. We can tell that you're a teacher at heart.
Thanks, Ed Barnes
Posted by Anonymous | 9/14/2006 07:09:00 AM
Jeff,
I am a two week visitor to your site, and I love your trades! It gives me timely looks at trades that I can hone my skills on. I look to see if I see what you see and sometimes I don't. For example, you saw a triple top on AXE, while I saw it trading in a horizontal channel with volume declining as the channel extended. Sometimes I see additional info that lends credibility to the trade. I see your triangles all have very obvious descending volume as it comes to the apex. I pick something new up in most of your trading ideas that help improve my confidence as a trader. In the past, I would take a trade with very little or no reduction in volume and it could fail. You are reinforcing our education with every post. Thank you! Lois
Posted by Anonymous | 9/14/2006 11:16:00 AM
Jeff,
I check your site religiously! I can't wait for new posts. The trades are great to see, but I love learning in all areas. The thinking is the most important skill that I love to get exposed to when reading this blog. One of my favorite posts was the book reviews. Keep up the good work, and please keep posting often!
John
Posted by Anonymous | 9/14/2006 01:35:00 PM
Just found your site a week or 2 ago and have been checking daily. I like the insight into trading philosophy more than anything else. I do value the chart pattern stocks you post as well. I check those myself to make sure my understanding is where it needs to be.
I'll take a free lead but that is not why I'm here
Posted by Anonymous | 9/14/2006 04:18:00 PM
Jeff,
I'm not here for the trades. My interest lies in becoming a better trader. I enjoy your posts and gain insight in many areas that can be found nowhere else. Keep up the good work!
Forget about those looking for freebies, they're not interested in learning anyway. I'm sure they problably have a "will work for food" sign close by.
Posted by Anonymous | 9/14/2006 04:34:00 PM
Jeff, we love your blog and check it almost every day. We are here for your instruction and insight, not for the trades -although we use what you say about the charts to train OUR eyes to see what your's are seeing.
Maybe you saw more hits for a time because people were searching for the blog and, once finding it, decided not to check it every day. That's their loss.
You are our favorite instructor because, not only do you have a gift for teaching, we like your style of teaching. We look forward to learning more from you in the 3-day course on line.
Thanks for all you do to help us!
--Patti & David Curry
Posted by Anonymous | 9/14/2006 08:39:00 PM
Hey Jeff,
Love the blog, and I try to check in several times a day. I agree with Larry on the whole "teach a man to fish" theory. I value your insights and peeks into your thought processes - WHY you would take this trade at this strike and date, how volatility etc. influenced your decision or what would have influenced you to consider other setups. That is what will help to make us better traders. I don't think that most of us are looking to be dependant upon you for trade ideas and setups (although the occasional gimmie is nice). I think that discussions of the trades and the "behind the scenes" workings of the trade are the meat and potatos of this blog for me. Thanks again for all of your time and efforts.
Mark P
Posted by Anonymous | 9/15/2006 07:07:00 AM
Jeff,
It's your blog, key word being blog. Which means you can write whatever the heck you want.
Having said that I come here because it's NOT master's talk. I get a little less scripted, slightly more irreverent view of trading here.
Master talk is good but you are clearly careful about what trades you show and your approach in those sessions.
I want to see setups but more importantly why you traded the way you did on real trades.
Your charts are extremely helpful in showing what your thinking. Keep doing that.
I also marvel at your clever graphics that illustrate the log. Very creative.
Posted by Mike | 9/18/2006 02:51:00 PM