Before I run off and celebrate the weekend, I wanted to leave you all a note.

Alright....I.....(state your name)... am a confessed option addict. Because I have this rare condition, there will be days (like today) that cause me emotional unrest and worry. To deal with this in a healthy manner I will.... (go out with friends, relax, get smashed, etc) do whatever it takes to create balance in my life this weekend. This weekend will be an opportunity to refresh my soul.

In all seriousness it was a very turbulent week in comparison to the last several months. Plenty of intraday volatility, market retracements, indecisive footing with most traders, and quirky economic reports. I am sure some stops have been triggered, losses have been taken, and some gains have been "misplaced." What is important to realize is that this is all part of the game were are participating in. This is not the first nor last time we will see these conditions happen. For those that are really upset, try and learn something from this. Whether it be a revision of trading rules, exits, emotional discipline...always ask yourself at the end of the day/week...

"What did I learn?"

As option addicts we solemnly swear to become successful at trading. Through the motivation, education, and experiences we are becoming the best of the best. Even with your struggles, I can guarantee that you are head & shoulders above 90% of the retail investors out there. I must applaud all of you... I see the comments, I see the e-mails and I see the trades you throw at me. I know first hand that we all have a lot in common and we are developing a trading methodology that elevate us to where we want to be as traders.

I hope you don't think I am going soft on all of you. In fact I am still the same hard-a$$ I was yesterday. But I am here to help you, to educate you, and to hopefully make a difference in what you are all trying to accomplish. (sniff, sniff...)

With that said, get the hell out of here and go have a good weekend. We will beat the crap out of this market on Monday. Until then...Have a great weekend.

Thanks, Jeff!

Your outlook is great, and I needed the pep talk.

Have a great weekend, and I will see you all on Monday.

Amy Myers

Dear Dr. Jeff,

THANK YOU!!! I needed that. Thanks for always putting things in perspective. I think I'm on my way toward developing an iron stomach, and look forward to the day , when days like today have no impact on me. thanks for the reality check(get it reality)!


Trader of Steel
aka Sarah

great inspiration as always, wanted to reply to your comments on ATI, was already in ATI and out with great return on Wednesday, however, re-entered near close today with Jan 85 calls, after i saw some support around 88, may have jumped the gun. What do you and my fellow bloggers think? td

Another "thanks" for the pep talk - it's good to hear that from some who has been doing this a lot longer than I have. I'm going to have a nice soak in the hot tub tonight, then have a nice glass of wine. Tomorrow I'm going fly fishing for few hours in the local mountains, and then maybe I'll start thinking about trading next week. It wasn't a total loss - I ended slightly up on 4 trades for the week, although ATI wasn't one of them!

John M.

Yup, today was tough but didn't end up as bad as it looked mid-day.

TD, you should be in good luck with ATI on Monday as Cramer touted it this afternoon as his main pick...that should be good for a boost. After hours (i.e. post-Mad Money) trading has it at 89.45! Congratulations!



You are the man. Thanks for providing such a great site. Also, thanks to all that post here. We have a great thing going. It is grwat to hear everyones feedback.

Have a great weekend ADDICTS!!


Just got done going through the weeks activities in the market with my Wife. Explained some of the losses and some of the triggers. I had a put on FORM earlier in the week. It hit my channel line and then went back up. I learned from that today I had a bear stock trade on HSY it was almost at my target and I changed my Mech. stop to a limit order and took profits about $0.06 from its low for the day then it retraced. Took some loses this week for sure. We have only been in the game since May. I have learned a bunch and think we are positioned no matter which way the market decides to go. If it goes bull we will continue to make alot of money. If it goes bear I will loose, but I think we are hedged enough to not make it too bloody. I missed alot of the move since July by getting in slowly. I can't wait for the market to take another good set and decide on contiuing the run, or I will wait for the next intermediate trend to develop if this one fails. Love the winning and love knowing that the losing, is just temporary, until the next set of winners.

Is anyone else short on SLAB? Looks real good

Everyone have a great weekend.

Tom DeGroodt

Thank you for your words of encouragement today. Not only do you endlessly teach us your techniques and give us insights into trading strategies, but you also motivate us to continue to stay in the game, no matter what goes on with the market. It is no wonder that you are such a great teacher!

PS...In regards to ATI, I intentionally stayed in the trade today. It was interesting to listen to Cramer confirm tonight what we already know....

Jeff -

Great Encouragement at the end of an interesting week! Although I took some good hits this week, it was based on breakdown of patterns and hitting manual or mental stops. As you stated, we are gaining the skills to be great. Still have to work on some of those exits though - more grace on getting out earlier!

Thanks to all for sharing thoughts, trades, frustrations and successes!

One last thing Jeff! You spoke of 'feel' when looking at a stock such as CROX and why you did not take it. At some point, it would be great to do a 'comparison' of stocks exibiting similar breakout patterns and why you would take one but not another. Are there other factors that we are missing as relative 'newbies'?


I'm breaking the rules by posting on Saturday - but I think very few will read this post. My comment on the market is: caution! On the sort of bullish side: the S&P staged a late comeback Friday and that means the bulls were not to be overpowered. On the sort of bearish side: the volume on the NYSE was up 22% and NASDAQ up 10% and yet that didn't move the price much. Spinning wheels at the top of a range is bearish, folks. So, if you're long, tighten stops!

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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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