Be on the lookout....there is a bad case of drawdown going around, and I don't want any of you to catch it. There is a lot of red tape being printed today, and a lot of it is going on in my account. If you didn't dial in to Mastertalk last night, here is the list of stocks that were discussed...

ICE, FO, VFC, MA... collectively they are all getting the crap kicked out of them. The blowout in technology has me a little worried, but I won't officially call this move bearish yet. A little more needs to unfold before I start to tremble. However, if anyone has a good story to tell or a good trade they took, I would love to hear.

For anyone else, if you have something you'd like to learn about today, suggest a topic, since I will have an hour available to write this afternoon.

I am happy with the trade I took last Monday, Jan 8 on WYNN as it broke its 97.50 resistance. I was stopped out today at 105.85

Cheers, Lejon

Lejon, funny. I did a spread on WYNN. On Friday, I wanted to take advantage of the 3 day weekend, so I did a bear call spread... Jan. 105/110 for a credit of 1.30. 35% return in 1 week if it stays below 105 tomorrow. I'll get out before the end of the day, I'm sure.


Hello all,

How about JCP. It seems to have made a nice 52wk high breakout today. It has been going sideways for the last 2 1/2 months. THe channel height is about 6, so maybe a price targer of $87-88.

Mark M.

aapl getting slammed today my Financials are doing ok just got out of INFY Ouch lol..

Danny DR

I'm sure that you know Cramer put the whammy on all techs going foward with the exception of CSCO,AAPL,MS,GOOG, and sorry I forgot the 5th.
He described it as a warning to America ( or something like that ).


I took a breakout trade on BIDU on the 10th. My exit says to get out today, but it seems to be bouncing off its lower trendline here and i see higher highs and higher lows. I swear i'm not rationalizing. I'll probably exit to keep my rules intact, but what are your thoughts?


Do you think your exit rule was overlooking some of the things you have mentioned? Maybe the exit rule on this one didn't apply. Always have exceptions or contingencies. I can modify an exit if there are overriding principles my inital rule didnt account for. To me it doesnt sound like you are rationalizing, those are very important points.

Like Kenny Rogers would say..."Know when to hold em, Know when to fold em."


Maybe sometime you could talk about the benefits and/or risks of after hours trading? I had a trade on AAPL, and after the earnings announcement yesterday, the stock went up over $4.00. If I knew more about afterhours trading, maybe I could have kept from having a huge loss this morning.


Great idea. Although not much involved in that topic. I don't think afterhours trading caused the loss, but could it have been that you were holding over an earnings announcement??? Why? Was it a long term trade? If so, that means you shrugg of the loss since there will be plenty of ups in downs in "long-term" trading.

Sorry about your loss.

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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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