I Picked a Perfect Day To Be M.I.A...

Folks I apologize I wasn't able to be here and talk you through this movement today. I know a lot of money was made/lost today, and I hope whatever the outcome was, that you are all coping with it and that you were relatively diversified and position sized. I hope my early morning post was enough to warn you about what the market was ready to unleash.

I also appreciate all the comments that made it in today. To hear the thoughts, feelings, and opinions of others is helpful to everyone. It makes you stop and realize that we are all in the same boat here.

I don't have a lot of time, so I will cut this short. I hope everyone made it through this today. A few things we can take away from this experience are...

Obviously position sizing & diversification
Trading both bullish and bearish regardless of market trend can help to diversify
Stops can be helpful
Trading options should not be done with the majority of an account balance

I am glad we had some good bearish trades on the radar to help pick up the slack and offset some losses. I gotta run folks, but I will be making a quick appearance tomorrow on the blog, Marketcast, and Forbes Radio. Have a great evening, take a deep breath, and be prepared to hit it again tomorrow.

PS- It's a Boy! 8lbs 1oz. and 20" long!

Jeff,

AWESOME news!!! Congrats are in order!!! Please tell Mom that she had "an UP day" to say the least with Great Gains to be enjoyed for a lifetime!!! Who cares about the market? Time to celebrate!!!

We can not wait to learn what your new son's name is......

Best regards,

Randy B.

Congratulations Dad! My best wishes to your wife and family.

COngrats jeff to you and your family. May he be a source of joy and pride to you and the family.

Don't worry about the market. it will be there tomorrow.

Mahmood

Congratulations! What a blessing children are! Maybe you could share some photos of this precious baby on the blog - we would love to see him!

Jeff,
Congratulations on the birth of your son. If this is your first, you have a lot of joy waiting ahead. I would not trade being a dad for anything. My son just graduated from college, my daughter this year. You wonder where the time goes. But, I seized the moment to spend a lot of time with them and still do and it pays off with kids that love their family. It's such a joy.
Don't worry about us; take time for your wife.
All Gods blessings to you.
Brent K.

Jeff,

congrats on the baby! What about a name?

Also, i'm a little confused (once again). You said that option trading should not be done with the majority of your portfolio. Isn't that precisely what you and the other traders do? I can understand buying stock for a long-term investment, a non-optionable security, or a cheap price. But everything you preach and teach is options.

Anyway, most importantly, congratulations on the baby. I hope he/she is healthy and that Amber is doing well.

Congratulations Jeff and Family,

You will be able to tell your son how he brightened up very difficult day in the market. It sound like you are going LONG on family and SHORT on time. I once asked my Greek Orthodox Father-in-Law what the happiest years of his life were. He said it was when he was young and had no money and was trying to make ends meet. I told him that if that is the case, I will be able to keep his daughter happy the rest of her life! Enjoy this time and be the husband your wife needs you to be. I have made a lot of mistakes, but at 49 years old, I regret putting work ahead of my family. Take some time off and us bloggers will pick ourselves up, dust ourselves off and eventually help each other find some profitable trades in your absence.
CONGRATULATIONS!!!!

Sean M.

HOORAY!!! I was right. I was just tuned into you today, and as I channeled your trading mindset I made some good decisions,and got through the day with a profit. I'm so happy for you,amber and the kids. So what is his name? I think he may be my lucky charm.

Sarah

Jeff,
Cograts to you and your growing family...take a few days and be with your wife, it will be better for everyone that way and then when you come back to us you will be cool, calm, and collected. In the meantime we can fend for ourselves and each other. Enjoy your new baby !!! And take a moment to tell your wife "THANK YOU" it will really mean alot to her, trust me ....
tonya
daytona beach

Sorry I could resist Jeff. Does today qualify as a breakout??

Jeff & Amber,

What great news! Please give Amber our best. 8 lbs - that's a sizable fella - hope Momma's doing well. Funny about kids as much trouble as they can be life would not be complete or as sweet without them.

An exception resource you may not be aware of is Bobbie Connors radio 1/2 hour on MPR very early every Saturday AM.

Thanks for sharing so much of yourself.

Jim Ahern

I would like to join the others in wishing you congratualtions on your new baby son. Yes, children are a gift from God. This is a very special time for you and your wife that words cannot explain. You and your family are in my prayers. We look forward to hearing more about this new addition and his name.

Blessings to you and your family,
Suzanne

P.S. The last 2 days have been profitable ones for me. Thanks, Jeff.

Suzanne

Jeff,
Congrat's.
You amaze me. All the time and effort you give for our education and you have time for a family. You obviously love your family very much. This is a another special day for you, Amber and family.
ENJOY.

Dave Shea

Jeff,
Congrats. Focus on the family. Children are special. It was a pleasure meeting you in Orlando. See at a future event.

Cheers,
Guy Turner

Jeff,
Congratualtion to you and Amber.
Take the time to enjoy your family, time goes so fast. Suddenly your babies are in college, you did not see that coming and you miss them a lot.
Best wishes to the family.

Janine

Jeff,
Cangratulations! I closed my calls early and let the losers go. I fel like I am finally learning and it worked out well today.
Enjoy your new addition and be there for the new big brother - that can be a tough transition.

Jeff, Congratulations! Take the time to enjoy with your family.

raaj

Congratulations Jeff and Amber....
What wonderful news to hear on this freefall day in the market. Children are so very precious, they enrich our lives and touch our hearts in the most profound ways. Spend your time and thoughts with your family right now, for these moments now will be become some of your most beautiful memories. We will all be fine here on the blog....we have each other.
With warm wishes and blessings....

Danuta

Wow, what a fabulous event to put life in order of importance. Enjoy the moment!
Congratulations,
Jerry

Congrats!! Jeff and Amber.. God Bless the BABY and the Family!!

--thanks, Meena

Jeff & Amber,
Congratulations! This makes two boys?? You give us so much good advice, its my turn, My only words of wisdom is never miss sitting down to dinner with your family if at all possible. That connect time brings closeness and is seems like a no brainer when they are small but sooo much more important as they become teens.
God bless your family.

Jeff,
Ditto on all of the congratulations! My best to you and the family. I hope your 2 others are excited and adjusting well.
Just one word of advice, I know you're not going to get much sleep now and it might be tempting, but PLEASE don't bail out on us with these options to start trading that 24 hour FOREX stuff!!
It appears that everyone now needs you more than ever...but take some time off to spend with the wife and kids, they deserve it!

Gary
Boston

What a great group of people--I was surprised and very pleased to read such an overwhelming number of comments encouraging putting family first...it always brings the best dividends!!!
Congratulations to you, Jeff, from all of our trading group in Louisville!!!
Teresa B.

Congrats!!! Way to go!!

Enjoy your time with the family!

Amy

My post would not go through last night so I am late to the party but Jeff and family congratulations what a wonderful time this is, starting (expanding) a family. There is no more important thing to give priority one!
Bob H.
CA

I know it's only 5 minutes into the market (but I need to get to my "real" job) but are anyone else's PUTS rebounding and CALLS still sliding????

Love this market?!!?

Gary

Congratulations to you and your wife!

liz
pasadena

Congrats Jeff!

I hope mom and son are doing well, and are able to come home soon.

Larry

jeff,
congrats and all the best
brendan
ca

May the Lord graciously bless you and your family. Truly he gives back to those that are givers.

Congratulations. I guess this makes you Long: Boys, Short: Girls.

MikeH

Seems like things were right this week for giving birth. Our daughter had her first baby on Monday - Feb 26th. Also a boy.
Congratulation Jeff and Amber - enjoy every moment you can - before you know it they grow up and make you in to Grandparents!!!

Bill & Kay

Jeff and Amber, all the best in
health and harmony. Steve L

I know this is crazy considering i screamed "Apple to $100" from the rooftops, but yesterday confirmed a LARGE head and shoulders top that slashed the neckline yesterday and retested successfully today.

I'm now calling "AAPL TO $70!!"

PS when viewing candlesticks, the top looks like an owl sitting HIGH up in a tree, further bolstering my thought that it's a very WISE play.

Jeff & Amber,
Adding my congrats and best wishes to the pile. Take all the time you need. Like someone else posted, the market (and the rest of us) will be here when you return.

All the best,
Karen

Congratulations to all of the Kohler family on your new bundle of joy! May God continue to guide your way.

Congratulations, a man as passionate about teaching and helping others as you, is no doubt a terrific father. Your son is lucky to have you as the leading man in his life. If your a Springsteen fan, put the live version of "Living Proof" on your ipod and crank it. Good stuff.
Congrats to your wife as well.

Jamie

Jeff & Amber,

Congratulations on this wonderful gift from God you were given!

Valerie W

DO YOU SEE WHAT I SEE?

Since Jeff's not here, i will post one in his absence. Pull up GOOG on a 9 month chart. Let's have some discussion. I see a double top with new resistance tested today.

I also see a $450/460 bear call spread vs. a directional put play.

Brett,
I'm not convinced that Goog won't now retest old support/new resistance. I'm in a condor right now on it and would like it to stay above 450 for March... After that, she's all yours!
450 is an area of support, so we may see a bounce this week and another try towards 510 while the market settles itself.
We're in oversold territory, and have some divergence on the macd's. I'd wait until the end of the week to see how this "drop" impacts investors before I went with an aggressive trade.
Just my .02.

Lisa

Anyone else having difficulties again with Prophet Charts today and TOS orders? Both froze on me 45 minutes or so before close and caused me some trouble in not thinking an order went through and then not being able to see what was happening. Cost me a nice loss on the OEX. Well that and my stupid entry point when I found it filled.
Bob H.
CA

Bob,

I had some trouble with prophet charts today. First, I could not access the charts for a while so I went on java.com and found out that there is an updated version available which I downloaded. If you go on their website and click "verify instillation" you can find out if you need the upgrade. Second, if you or anyone else on the blog has downloaded the Google Web Accelerator, you must disengage it to pull up prophet charts. That last bit of intel took about an hour on the phone with tech support at investools before I figured out it was my fault for recently downloading the accelerator.
Anyway, ATI helped me a bit today by rebounding and CAL is still a good short play. Hope everyone has recovered from yesterday. I am sure Jeff is sleep deprived, running diapers out into the garage and looking for Huggies coupons in the local paper. Been there, done that, but I sure miss it.

Sean M.
CA

What very happy news -- mega Congratulations, Jeff!!!

All the best to you, your wife and children,

Helen Avalon

Well, well, well. A day in the air and look what I miss. Congrats Jeff!! We were certain you were attending to the new little human yesterday... what a great day to miss.
OKay, so we're still learning. Took a kick to the head that it will take many, many moons to recover from but we're starting in on it. What is it they say? Every walk of a thousand leagues starts with a single step. I feel that our walk will be to the moon and one step doesn't take us very far, but it's a start. Yesterday was one of those days that makes you wish you could go back in time. Our 401k stuff did just fine (all stocks) but we got CREAMED on our options. Hey, but we learned a LOT!!! Could almost have paid for a PHD course, as a matter of fact.
Brett, I am here to tell you, brother, that although this options stuff takes a lot of our time and attention it is only a small part of our investment portfolio. I'm hoping one day it will become a much larger portion, but so far it's becoming smaller. Much smaller.
Anyway, just had to add our congrats to eveyone elses. Sorry it's so late... I just got in.
Thought of the day: Stop orders suck on options. They work well with stocks but seem to always stop out on options at exactly the wrong time.
Note to self: Stop with the Stop orders. Stop, stop, stop. Also... stop buying high and selling low.
Chris and Catherine

Here are some great quotes:
1)I am calling the bottom on
apple, apple to 100(tanked)
2)apple to 70(rally)
3)i am expecting great things
from zumz tommorrow(tanked)
4)bull flag (wlp) gidyup(tanked)
THESE WOULD MAKE A GREAT LINER
TO A BOOK.

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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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