Another Whipsaw Day in the Market

Don't take any offense to what happened today. Some trades (ATI) obviously worse than others (SMG). Overall ended up only slightly down. I don't think this is a reason to scream "Bears" yet, but be on the lookout. I would hate to see you switch sides right before a counter-fed rally.

I am halfway through another post on exits. It is a hot topic and apparently I cannot post on this topic enough. Let's read more!!!

I need to go home and get my beauty sleep tomorrow. I have an appointment with an Orthopedic specialist in the morning, and tomorrow I am being interviewed on the Forbes radio show! I guess they have a radio program and they wanted to spend an 8-12 minute segment with an OptionAddict! Why in the hell would they want to do that?

A big "Thank You" to all of you for your traffic to this article. This was likely to be a big part of the reason that they chose to interview me.

You guys rock! See you tomorrow.

Jeff,

You are terrific that is why forbes decided to interview you.

Jeff,

I took your options pricings class (actually your last TWO), and I have FINALLY begun using the Black Scholes calculator. Let me tell you, it's actually help me ELIMINATE some pretty low reward trades that I otherwise would have taken.

Here's my big question:

When calculating options, isn't manipulating the volatility very subjective? Can you get a somewhat accurate reading by leaving it constant, or does it undervalue the OTM options?

Also, it's a great class but I truly hope you keep pushing it forward with new concepts, etc. Some of the Investools classes are generally just repeats.

Thanks!

Hello Jeff,

CME is getting close to te $535 Breakdown. Is this still a viable breakout of the Flag to $555+ ?

Thanks.

SOX confirmed a double top today. This is horrendous for the Nasdaq. Took some puts on LCRX and CYMI, both semi stocks that broke down.

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...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

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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