Jeff Kohler the Option Addict | Stock and Options Trading

In response to yesterdays post "Do you see what I see?" It sounds like there were several that saw what I saw. A beautiful breakout. As you know I love those set-ups and take trades on these all the time.

There were interesting perspectives shared about this trade. A flag breakout, a cup and handle, a moving average crossover, etc. Another great way to see how different individuals see different things. Didn't it all turn out the same in the end? Sure it did!

I must admit, I initially felt this was a nice cup and handle pattern at the top of this upward trend. However, the right hand side of this cup is also a flag pattern that caused the breakout. Here is the difference in analysis...

Cup and Handle Target- a 10 point move within the next 6 weeks (difference between top and bottom of cup (69-79) pattern started in early-mid December).

Flag Target- a 7 point move expected over the next 1-2 weeks (height of the pattern (72-79) pattern started on the 23rd).

So a difference in analysis could cost you $3 in reduced gains. I say once the stock hits 86-87 you tighten stops or start watching closely. If the stock wants to keep moving great, if not take the easy money and bail.

Nice trade everyone.

Recommendation: Have a great night and come back for more tomorrow.

Posted by Option Addict on 1/31/2007 at 6:09 PM | Permalink

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I didn't take the trade yesterday because I was concerned about the earnings report. And, today, the trade moved to much for my risk tolterance.
How do you all read high volume breakouts around earnings?

Thanks,
Amy

Posted by Amy | 1/31/2007 08:06:00 PM

Hello Folks,

Hope everyone is happy with y'day news.

Now that its time to file Taxes, could you pls. let me know which is the best and economical route to file taxes. I spoke to H&R block, y'day and its very EXPENSIVE.

Thanks everyone and Appreciate all you're responses.

Meena

Posted by Unknown | 2/01/2007 07:33:00 AM

Having problems blogging today to this site..anyone else??
Anyway, possible flag breakout today on VIP..keep a watch..

Bob R.

Posted by Anonymous | 2/01/2007 07:45:00 AM

First trading day in February, the Dow has been up 6 of the last 7.

I guess Jeff's counter-fed rally will duke it out with the Stock Trader's Almanac.

Posted by Anonymous | 2/01/2007 08:33:00 AM

The day's not over yet. We'll see if the bears make it out before the end of the day.

On that note, JCP is breaking out of a bull flag as well.

Joel

Posted by Anonymous | 2/01/2007 08:58:00 AM

Question on Drawing Tools: How do you get the half circle on chart? I drew my 'cup and hanle' with an oval but it doesn't look that great. Thanks

Posted by Anonymous | 2/01/2007 11:46:00 AM

Toni,

I used the "half circle" function on the chart. These are great when trying to illustrate the "cup" of the good ol' cup and handle.

Just kidding...I drew it in paint. Pretty sweet huh?

Posted by Option Addict | 2/01/2007 04:56:00 PM

Hi Jeff,
Thanks for letting me know bc it was driving me crazy. I even called the hotline and spent 15 min trying to figure it out with one of the techs. (Poor guy)
Should of known you were just being your creative mastermind self :)

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