I can't seem to shake this horrible mood that I am in. It is bringing on a headache. I caught some feedback internally that is such a load of crap. You have all been there, right? Someone on high disagrees with your vision or questions what you do. I hate that. Anyhow, rather than spill my guts here I will get on with the show.

I have been meaning to write this for some time, but sometimes I misplace my priorities. I have received lots of e-mails asking questions, offering suggestions, providing feedback (all which I appreciate) on topics we have already tackled. I hope that most of you have at least thumbed through the archives of the hundreds of posts I have written on various topics...such as why I trade the way I do, what I trade, when I trade...even educational posts on topics like risk/reward, implied volatility, various strategies, concepts, etc. The best of the best is in my archives so make sure you have thumbed through some of them so we don't duplicate topics too often.

Anyhow let's analyze this chart....

AKAM. First...who took this trade today besides me? I talked about this stock in my price patterns class this week and questioned the validity of calling this a triangle. If you look close enough there are some areas where the stock does not correlate to the support or resistance levels. I like to call these "white spots." Too many white spots in a pattern and I question taking it. With AKAM whether you call it a triangle or not, a breakout is a breakout.

Who's gonna trade this?

POT looks like its ready to explode with a 15 dollar potential move...OTM calls anyone? Jobs tomorrow will be key

Marc Upton

This stock is on my watch list. I did not expect this big of a move. Like you said, a breakout is a breakout; however, given the patterns that the indices are forming I will not trade this break out. On that note, I will take this if the DOW and NASDAQ made higher highs today.


Anyone looking at thisas a flag with a huge pole? If so would you include the gap in calculating the target?


Don't know if this is of interest but you have the link so I figured I just send it.

Brian K


I'm with you. Are we starting to see double tops?

Danny K

i see a little weakness n the NDX/NSDQ with a potential lower/equal high, but sitting right at the support channel, potential double top/ascending triangles in the OEX/DOW, and the SPX/RUT/MID made higher highers, Trannies look like they are putting a lower high.

Marc U.

I took the trade, Jeff. Had an alarm set on this resistance level. Didn't get to it 'til end of day, though. The weakness in the Nasdaq makes me a bit nervous, though. Clear lower high in place now.
Maybe that's what is giving you a headache.

I've been tracking this one for this event but did not take the trade. I can't give a solid reason other than I didn't have confidence in it. I've tried trading this stock a couple of times this year and it never seems to fulfill the deal. So I passed.


Brian K,

Thanks for sending that. It is a big milestone for all these kids. It means a lot that you sent this, 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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