MasterTalk

Hey traders. Sorry for the disappearing act. I have been preoccupied trying to get geared up for Orlando this weekend. Once I get this out of the way, it will take a lot of weight off my shoulders.

I hope everyone hit a home run in the market today. Speaking of Market....tonight I will be presenting Mastertalk (Session 2). Yes, it is Valentines day...which means I am in the dog house.
We are going to do the same exercise as last week, however this week we will talk about exits. It was a pretty dominant request.

Recommendation: Take your valentine out to dinner, don't attend the session.

No I didn't hit a home! Not even a base hit. I scaled back my trades ,had only one SNDK mar put!! Trade still looks okay,but still its still frustrating to miss moves like today.

Sarah

Jeff, is there any chance there all your blog followers can meet you somewhere?

Dan

Jeff,

You are incredible - "option addict" is only part of it. I'm learning like crazy and making good use of it. Hard to explain how invigorating it is. You are the spark and you've attracted an amazing group that at times boarder on matching your generousity. Jeff / Brett / Alessandra / Sean M / Chris and Catherine / Tom Degroodt / Greg / Gary / Mahmood / Mark / Amy / etc. etc.

THANK YOU ALL

Jim Ahern

jeff,
stop apologizing already !!! you rock, we all love you and the effort you put into helping us out. mastertalk was excellent. i find myself very able to make the correct decisions on trade entries, but i never seem to know when to exit. you are helping me tremendously. your help is much appreciated.
have a good time in o-town ....you may want to leave the swim trunks at home and bring a hoodie, it is supposed to get down to the 30's this weekend...i guess all you northerners are bringing us a cold front (thanks alot )
thanks again for all you do
tonya
daytona beach

ATTENTION ALL BLOGGERS (and Jeff),
I have discovered a new, sure fire way to predict what a stock is going to do. On Tuesday night, I was in Halifax (Nova Scotia) and went to a bar (not because I wanted to... my work partner needed to go to one, and I tagged along.) When I'm in bars I don't like to talk about what I do for a living, so I make up stuff about who I work for. Tuesday night I chose "John Deere Heavy Maintanance." So I spent the better part of the evening cajoling people at the bar with witty stories about working for DE. DID YOU SEE WHAT DE DID TODAY?!?! Coincidence? I think not. So here's the scoop. Next time I'm out of town and am going to go to a bar, I will alert you all to the "Secret Company" that I will regail the locals with. Everyone buy calls on the "secret company" and we'll all become billionaires.
This is too easy.
Jeff I'm in Orlando right now (for 12 hours) scouting out your presidential suite. They'll have it ready for your arrival. Investools will cover it, I'm sure. Will listen to MT in the morning. Need lots of help in my exit strategies. I've been anywhere between +18% and -12% this past 7 days. My head is still spinning, but look at me learn, ma!
Looking forward to Orlando. 30 will seem warm. Hope it's not too cold for the big car race, Tonya.
Chris and Catherine

QCOM big breakout over $40 thanks to Mr. Blowhole himself last night.

Chris,

Can I give you a list of my current positions so you can talk about them in the bars in Orlando???

Sean M.

A big THANK YOU to Amber! Her sacrifices allow Jeff to teach us and inspire us to be successful traders.

It is obvious that the "Option Addict" team consists of two generous people.

Amy

What is up with SMG today? Was anyone else in this trade? It was doing so well until today. This winner turned right into a big loser!

Jennifer,
Don't give up yet. I had the same thoughts with ICE a couple of weeks ago. In the morning it was down about $3.00 and it closed up .50 Step back from the ledge and wait until the end of the day. If it's still down go into your back yard and find a snowman. Take a hockey puck............
Sean, I was out last night scouting the pubs in Orlando and told everyone I was from Nutrisystem. How's it doing today?
Chris and Catherine

PS. I'm just kidding... I wasn't out last night.

Jeff, if you're putting all this effort into your Orlando presentation we cannot abandon you. I'm going to try to change our class so we can harrass.... er.... enjoy your presentation. Is there any chance we could set up a meeting point for the addicts that are attending. Perhaps we should string up a model of Jeff and meet under it at the cocktail reception on Sunday.

Chris,

Great job on NTRI but from this point forward, you are an employee of ATI. Don't let me down! Alright, I know it is early but shouldn't you be hitting the bars?

Sean M.

On a more serious note, is anyone else looking at CMI for a confirmed cup and handle? It is down a bit today but the cup is very deep and I am expecting a good move. Any thoughts??

Sean

Jeff,

Sean brings up a good point. Let's say you spot this pattern in CMI. It's a 4-month pattern, yet earnings are in 2 months. How does this affect your trade setup?

Thanks Jim for your nice comment about all the group.
Bret about QCOM, it has broken the 200 dma with high volume and today it kept moving higher, but I have a level of resistance at 41-42 ( from horizontal line since 06/06/06 (ugly number) and 06/22/06). Also have kind of an up trend channel and it is at the top of the upper band.
Alessandra

Folks,

Great question on CMI. In a situation like this...I'd say it all depends on how the stock trades up until the announcement. I'd like to see it drift higher...and if it did I might be persuaded to hold over the announcement. You could also buy OTM puts to hedge yourself, at the expense of a newly adjusted R/R. Intermediate to long term traders have to find ways to deal with these announcements. Protective puts is one answer. If the stock rallies hard up til earnings, I'd be likely to jump ship. The market has typically discounted everything at this point and the only way to keep the stock in rally mode is to CRUSH expectations, which isn't the likeliest outcome. Do any of you ever read message boards on your stocks you are trading? Especially before earnings?

Jeff

Jeff,
Tell us where to find those message boards, please. This whole earnings issue (as I emailed you on after getting crushed with MICC...I'm trying not to look at the stock price today!) is very sensitive to me.
How much trust do you put into these message boards?

Gary
Boston

Gary,

I was only curious if anyone did this. It might be a bad idea for you to go to these if you are easily persuaded to take trades on the words of others. For example, I could have gone into the MICC message boards and tried to start a rumore that they would miss expectations and try to get people to sell.

If you feel you are easily persuaded, trade with emotion, or still feel a little naieve, I would steer clear of these. PLEASE!

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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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