What a long week. I hope the posts have been sufficent. I know one thing...they sure have been exciting! Glad to see some emotion finally flowing through here.

I still have your post ideas jotted down, tomorrow I think I will dedicate most of the posts to trading rather than strategy. I might mix in one or two educational posts, but we'll flush through trades for the most part.

Im off right now for some italian dining and then to the Jazz Kings game tonight. I hope each of you have great things planned for the weekend. Please don't forget to download the Forbes Podcast or listen to the radio interview this weekend (assuming you have nothing better to do).

Let's pat ourselves on the back for another profitable week. I will catch up with you all on Monday.

I know you've been living in Utah for a while now.....but GO KINGS. lol keep your eye on Bibby hes been really picking it up.

Danny DR

Please don't forget the post on option trading the SPX.


MVSN-support bounce
ASN-ascending Tri
GVHR-symmetrical tri
TGT-symmetrical tri
TLGD-ascending tri
BDX-symmetrical tri
BRLI-Ascending Tri good break (Earnings on 19th)

Danny DR

Jeff, I live in Sacramento and I am a huge Kings fan so sorry about the loss on Friday. You mention that you buy when the stock touches support and exit if it closes below support. So, if the stock breaks below support intra day how low do you let the stock go before jumping out with a loss?


Hmmm...you know so little about me. I was at the game representing the Kings! I have always been a big Kings & Warriors fan. I was actually at the game to support my old teammate Ronnie Price.

That place got real quiet at the buzzer!!!


This is why I wait towards the close to see if the stock has actually stayed below support or not. If it has, I get out just before the close. If the stock rallied back, I give it another day and follow the same procedure again.

Wow, I did not know you were a Kings/Warriors fan. I wish they would play Ronnie Price more, I was also hoping to see another dunk over Boozer! What I mean is how far do you let a stock go below support intra day before getting out? Obviously you would not stay in a position if the stock has gone below support by $3-$5. It just seems like more of a gamble to wait until the end of the day to see if it will retrace back up to support.

Hey Mark,
In my lengthy 2 months of experience (and various readings) it seems to me that it is really worth sticking it out until the end of the day (say the last 1/2 hour of trading.) It's amazing sometimes how much things will bounce back at the very end of the day, if the stock's still got legs. I think it's like going to the casino. Sometimes you have to take the hit and play the odds. Odds are that holding out until the end of the day will make the gamble worthwhile. You may lose out 3 times out of 5, but you'll end up with way more money on the winners, than you'll lose on the losers.
Touch wood, that's the way it's working with me.
Chris and Catherine.

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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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