Whew! That Was Close!

The Fed announcement has come and gone. A seemingly optimistic reaction by the market has caused some nice intra-day movements to take advantage of. Does anyone else out there sit by the screen on the minute charts looking to scalp a few ticks on the indices or e-minis? You can't tell me that this type of trading doesn't stir at least a tiny bit of emotion. Can you?
So rates are unchanged again at 5.25%, the verbiage was decent and the signs were that the recent indicators are suggesting firmer economic growth and hopefully a stabilization in the housing market.

In any event, price speaks pretty loud here doesn't it? Dow up triple digits at the moment. Did anyone take that US Steel trade from yesterday? I'll talk about it on my next post.

Jeff,

You must be a mind reader. Skimmed 4pts off the SPX and yes took the trade on X. Looks very healthy today. Thanks for the tip.

Sarah

I bought the April 75s at the market open and got filled with a limit order or $9 -- it's trades like this that cause options addiction! Looks like OXY broke through resistance with 3 green arrows -- anyone in yet? Check out the wild patterns on LUFK -- its at resistance within a short term acending triangle which is inside a symmetrical triangle that started last March. Allen

Yes, took X yesterday (Feb 85 up 70% at the moment).

Also took EXP. Up 17% currently.

thanks Jeff!!!

Jeff, (and all who post)

thanks... for the X tip...got in yesterday just before the close!

Bob R.

Jeff,

I did take the X trade yesterday. Thanks to RIMM and NKE any profits i would have made on a HUGE market day were erased. Hopefully RIMM backs down from resistance here, but i'm not optimistic.

Some other noteworthy trades i'll probably get killed on:

GS - BEAUTIFUL bullish engulfing candle today AT trendline and horizonal support.

ZUMZ - bounced nicely off trendline support.

HOLX - a breakout candle the size of a small building today on MASSIVE volume.

Man it sucks to watch the market soar and your account go down.

Took X with a limit order this morning. Bought 2 contracts. Made 45% within minutes. Closed one contract and riding out the remaining contract until.....who knows..
Thanks

Phillip

Man, We all spent good money to be investools students, but if we all just would send 3% of our profits to you, your only problem would be to figure out how to get an internet connection on some island in paradise ;-) Thanks for everything. I missed on ORBC Didn't fit my rules. Missed on X (didn't take the time out to see if it met my rules) I am still way happy with the education that I am getting. Waiting to see if the rally continues tomorrow or folds...

Thanks for all that you do on the blog, marketcast, mastertalk....

8 months of playing with real money and I am still not sure if I am a trend trader or swing trader. I like being a trend trader in stocks, but am finding it harder to make money in options trend trading. Almost folded LVS last night and again about noon today. Anybody else in LVS. I am in March 105 calls

Brett...

that move on HOLX is insane. That candle is the size of the Sears Tower. I'll wait for a new entry point on this, so into my watch list it goes.... Thanks...

Bob R

Bob,

This wasn't on your watchlist? I created the watchlist on Monday! I am so offended! :)

Jeff

Im IN! Filled this morning on X, March 85 Call. Im going to add to this position tomorrow morning!

Also: ATI, Apr 105 call, filled three days ago

WYNN: Mar 110 Call, filled three days ago.

Cheers, Lejon

jeff,
can i just say you rock !!!

X march 07 call @ $7.50 (limit order weds am)

ATI march 07 call @ $8.80 (bought a few days ago)

thurs i'll be watching/trading GS (support bounce), i will proceed with caution b/c i got burned on my last GS trade (i am no longer bitter) i guess we will see what tomorrow brings.

oh yes....and WYNN....it will be on the list for tomorrow

thanks
~tonya~
lets end this with an imaginary bow to the option master !!!

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...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

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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