Master Talk Follow Up

If you missed last nights session, I won't hold it against you. We did a full blown Market Analysis from top to bottom. What blew me away is that I got higher satisfaction scores from this simple presentation compared to the presentations I thought were great (trade entries, trader interviews, Implied Volatility analysis, etc).

Anyhow, here were the four trades I threw out to the group for consideration.

VIP- Yesterday a breakout establishing a new 52 week high. Looking at the movements this stock has made in the past few months, these are the high flyers you want a piece of!

LAMR- Another breakout stock, new 52-week high.

SRE- Potential support bounce.

MVSN- Potential support bounce.

Other than that, what should we discuss today? I plan on reviewing PCAR in a little bit...but post a few suggestions on some topics you'd like to see in the works.

Jeff, Thanks for your blog and your teaching. It has helped me greatly.
Look at XTO for an upside down H & S. It is just breaking out and looks like it has great potential for some solid gains. What do you think?

How about AMGN's head and shoulders breakdown today on strong volume? They don't get much cleaner than this!


Typically an inverse head & shoulders acts as a trend reversal pattern, and the inverse head and shoulders is normally found at the bottom of a downtrend. However, regardless of the questionable pattern, the stock is still breaking out. Gotta love breakouts!


USG breakout or Mr. Buffet adding to his position?
The BEN trade total toast here or do we give it room yet?

Nice move on USG. Thanks for throwing that out there. With BEN, personally I have about another $1 buffer here. If it closes above it's neckline...I would bail.

Did everyone get out of the GVA puts? I was going to, but it was only about $.30 above the neckline I had drawn at the close, so I stayed. I might really regret it in the morning. I guess it's where you draw your line.

Hi Jeff.
I just listened to the recorded Master Talk from yesterday. I agree with the poll. You gave an excellent presentation. There were several items I got fresh insight on. For example, you mentioned buying ITM options on support bounces and OTM on breakouts. I hadn't articulated that difference and I don't recall hearing that before.
Many thanks!

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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