Beware (Part II)

Big Blue (IBM) is getting killed in after hours trading. This is likely to cause a significant down day in the Dow tomorrow since they are one of the biggest components. Tighten stops tonight if you can. Between this blow up, existing weakness in technology, and expiration day tomorrow, it is likely to be one hell of a Friday.

RIMM finally confirmed that double bottom so I added to the position. I personally think blackberries are garbage, no one i know likes theirs and I can't wait to get an iPhone. RIMM can buy it for me with a nice drop to $100.

I meant double top. Sorry.

Jeff, you have always talked about not holding options over earnings and I thought that I'd held APH over their earnings announcement on the 17th. I was really petrified when I went and saw that the stock was up dramatically on earnings announcement (I had puts as it's been in a down channel for months) and then realized my put expired tomorrow and I'D SOLD IT!!! WHEW!!!! But it proved to me that even when a stock's in a serious trend (either way) earnings can kill you.
I agree with Brett, although because I'm Canadian I HAVE to like RIMM... I'm buying puts on them right now. And tomorrow could be a biiiig drop.
Chris and Catherine.

Jeff, I got in CSH yesterday on a 45 put at 2.10, it is at 3.90 now. I also bought a put on RIMM today. I am looking for a big drop in the morning. Emily wanted to pull out of the CHS put, I told her to go to class and I would take care of it. We are still in, she always instant messages me while in class. She is a riot.

Karen O.

Jeff, I learned from you to never hold options over earnings. Unfortunatley I learned the hard way. It is part of my trading rules now.


Let me preface this by saying everything i've learned about price patterns is from you.

I heard you talk about a flag break on ICE on the 17th and i was kind of surprised. The volume was okay, but that candle didn't really bust out of the little channel i had drawn. Do you still feel that was just a failed breakout or maybe a little early on the trigger?

I'm just curious so i can help build my awareness of these patterns.

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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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