Closing Time

Is it me or have we picked the only few "Hot Stocks" out in the market!!! From the comments section, and from the accounts perspective it appears we have a lot of movers working for us right now. Kings to you ____(insert your name here)____.

Fed announcement tomorrow, so tread lightly. That could be a reaction that stirs the breakout, or pulls the chair out from this consolidation. You have all seen my watchlist, let me see yours!

If we left anything out, feel free to add them here.

Its been a long day, I am turning in. Sorry for the anti-climatic finish today, but please stay tuned...

OptionAddict Upcoming topics include...

Index Options & Mini Index Trading

Exiting Spreads before expiration

When to add to existing positions

When should I break my trading rules?

Psychological round number pricing

This comment has been removed by the author.

Jeff,

I just finished a two day seminar with Think or Swim/Options Planet on Trading Advanced Option Spreads with JJ. Awesome training but......my brain is smoked!!! Talk about the Greeks!!! Lot to study for sure as well as to practice. I recommend everyone here to attend the FREE training if it comes to your area. A good instruction on how to really use the T.O.S. platform as well.

Was a great day today - had a great week last week as well.

Keep up the outstanding work "Old Man". I know the Big 30 is rapidly approaching now but it is not too painful. You have a couple of years to prepare. Happy belated Birthday!!!

Regards,

Randy

5:14 PM, December 11, 2006

I'm watching POT as a potential ascending triangle with a 14-15 point target. It's close to failing, but I'm not giving up hope yet.

I'm also watching UPS as a potential support bounce.

I should have mentioned that I'm also looking at gold, particularly AUY and USGL for potential bounces. AUY seems to be the strongest of them with little to no overhead supply and near a 52 week high. USGL was added to the AMEX and may have broken out. Probably stock trades though as opposed to options.

I'd like to see some example of exiting. I think your rule is that once you see weekness it's time to get out. But maybe expand on where do you put your stops at?

Like the old saying, "you don't make any money until you exist." Seems to be that everyone is great at finding stocks but lets focus on "making money."

Randy,

I attended the 3 day advanced options about three months ago and have not fully digested all the information in that 3 day event. A lot of the information I need to put in practice.

Great move on ICE today....

Stocks I'm watching this week.....
LAMR - Breakout-Asc triangle
DE - Bull flag
UNP - Bull flag
NBL - Bull flag
GLDN - Channel - bounce off support
CCRT - Breakout-Sym triangle
Tie - Sym triangle
Nue - Bull flag

I agree that finding stocks, identifying price patterns and entry points are all becoming clearer...but exits can be very difficult.
Thanks Jeff for the watchlist each week.
Danuta

Looks like SMG is going to pop big time this morning. I was getting worried with the weak breakout on Friday (though it was on huge volume). Anyone else in it?

brett,

caught the news on SMG early ,and entered the trade. Jeff mentioned this one a couple weeks ago. He really does have psychic powers.

I was wondering where do you see an exit on CTRP...break of $56?

Sarah

Brett,
I did PTR. Great pick. What a wonderful life it's doing a great job of off-setting my other losses. Oh well. I'm in.
aapl - bounce
aem - bounce
amag - bull flag
de - bull flag

Brian K

TIE: Support bounce at 29.

AAPL: Breakout retrace bounce at 87. Jan 90 call

VLO: Retrace bounce at 54.5, Jan 57.50 call

USG: Channeling breakout at 52.50, Jan 60 Call

LAMR: Breakout at 59, Jan 60 call

NSTC - Bull flag breakout
ACTL - Bull flag
FD - Symm triangle breakdown
TKR - Symm triangle
GE - Symm triangle
ANDE - on trendline support - watch for bounce

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  • 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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