Blogging Each Day...Makes The Pain Go Away

Hopefully I didn't scare everyone away last night. Sorry for letting true emotions shine through. A public thank you to Mike and Danuta for your e-mails. They really helped me this morning to get past yesterdays blow up.

I am getting a lot of e-mails over the last couple days...THE BEARS ARE EMERGING!!! I am shaking in my boots! True the market failed to make a higher high, but cue my broken record..."It's too early to tell." "It's too early to tell." "It's too early to tell." By the way...that is not a picture of me getting eaten by the bear (I hope :)

Last time the market did this (Oct/Nov), we still came through with the higher low and eventually broke out. What makes the current scenario any different?

Many are wondering how to make money when the market is slightly sideways. In a directionless market make directionless trades! We talked about credit spreads a while back and this might be a great opportunity to use them. Personally I am not subscribing to this method, but this might be a good way to bring in some income during times where you are uncertain on the market direction. As for me and mine...I have been buying and continue to buy calls.

Keep in mind that your success in the market will not depend 100% on market direction. If you have been doubting this trend that goes to show you that we don't always get it right. I have doubted the market or was too optimistic about the market at many points in my trading career...but I never placed too big of bets on my intuition. I continue to keep finding stocks that break out regardless of market direction.


Speaking of breakouts, I only got a few responses on AKAM. Probably because I was a J.O. last night. Anyway, a few responses included market conditions...which is a very rational thought. Perhaps this is why it is only slightly higher today? It is just like every other trade we have highlighted in this blog...after a breakout it's likely to re-test and at that point we will know just how potent this trade might be.


Anyone liking the bounce on AAPL? Another question...anyone heard of this company SIAL?

Jeff,

SIAL was in my watch list. This industry group is started doing well.Looks like it just broke 77.50. But volume seems to be low and decreasing during last run upwards. Last time when it broke 73.50'ish it did with decent volume with increase in uptrend.

raaj

HI - Jeff
Not to excited on AKAM - but could be very wrong and wish I would have gotten in. Looking through some stocks "LEH" I am wondering is that a cup and handle formation? They have earnings on Monday - Both LEH and GS suppose to have great earnings. Probably too late to get in on those but curious about the formation on LEH - if it is a formation?
Thanks for your time and all the ideas you give us to explore...

how about PCAR...looks pretty go so far!

Jeff
I got in the AKAM at the open this am and its going the right direction so far. I also got into AAPL this morning its down a little from my entry at this time. Maybe a fairly aggressive entry. Watching BUCY for a support bounce. Pretty sketchy market right now?!
Todd

HAPPY HAPPY BIRTHDAY!!!!! YOU OLD MAN!! I wanted everyone to know its your birthday and to wish you a happy day. (happier than yesterday :) I love you so much and HAPPY BIRTHDAY!

Your wife, Amber (the washed up stock broker):)

Happy Birthday! I hope your wife takes you out this weekend!

Enjoy!

-Mark

Happy Bday brotha!

Danny DR

Happy Birthday!!!

Old Man? Hardly! I've got shoes older than you!

Karen

Jeff,
don't worry about venting yesterday, that's what happens to crotchity old men. Happy Bday

Thanks for the heads up on AAPL bounce, lets hope it runs another 7pts.

Brian K

Happy Birthday Jeff!

Looks like the F5 is cleared for takeoff!! (Finally!!)

From their website:
"Sigma-Aldrich is a leading Life Science and High Technology company. Our biochemical and organic chemical products and kits are used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease and as key components in pharmaceutical and other high technology manufacturing. We have customers in life science companies, university and government institutions, hospitals and in industry. Sigma-Aldrich operates in 35 countries and has over 6,800 employees providing excellent service worldwide."

And Happy Birthday!

John M.

Happy Birthday Jeff! I hope you have a wonderful day.

Danuta

Jeff,
Yet another Happy Birthday. I wonder how old the washed up broker is? I had to bail out of AAPL last week as my Dec calls were timing out. I then immediately got back in (right at the top) and stopped out when I hit my 1% limit. I saw the bounce coming but needed another dollar or two (down) and got it. Now I'm back in... but 1% poorer. A lesson to everyone... when a stock's channeling like AAPL is, believe that it will head back to it's support line, and wait for it to head back up.

Chris and Catherine.

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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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