Recommendation: Take trades that mesh with your analysis. Welcome an idea but make it your own. The greatest trader of all time (Jesse Livermore) said it best..."let me warn you that the fruits of your success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions."

Thanks for today's analysis.

I know you said neither bullish or bearish on ICE but I took a bearish position at the break of the 40 MA a few days ago.

I now see a beautiful head and shoulders setting up today. 34 pt move. Time will tell...



Thanks for the watch list. I sent a note to Marketcast before looking at your blog today. Has to do with Livermore's quote kind of. I am about 1/2 way through the book on Livermore. All good stuff.

FNM is looking like a good setup for about 4 points from a triple top, already broken though. WYNN looks really good, so does MNST. CME is getting hammered : )

Marc in Asheville

forgot RYAAY setting up too

Marc in Asheville

FNM has been a great bear trade for me since it was at 60.
I'm concerned it isn't down more today with a huge overall down day as well as continuing subprime mort. problems..

Ohio Rick

I can't believe I am happy on such a down day. Hopefully that means I learned from Feb. 27th. I have only one bullish position. I like head and shoulder tops so here are a few that are not confirmed but I am keeping a close eye on: POT, SHLD, CMI, ZMH, ATI, AND possibly MCD. Good luck.

Sean M.
Simi Valley, CA

DITTO on the lessons learned from 2/27. Can't believe how the market has tanked but FINALLY - position size and diversification has made me a winner today!!!

JEFF - many thanks to you. This is a great follow-up to your "pep talk" email last week. I've learned from my mistakes and am making money in this volatile market!!! Very relieved that I've had this break through!!


I never thought I would be so happy to see the market go down. Today put me back in the black again. It seems you can never hammer enough on trading what you see in the chart and following your rules.

Jeff, I would love to see an article on Futures. I hear them discussed all the time, but not much elaboration on exactly what they are or how to trade them. What are your thoughts?

Joel R.


Thank you for all the valuable teaching. Even though the market was down I felt confident with the positions that I held. I have made so many costly mistakes due to bad timing and decisions but with your great teaching, things are slowly coming around. I am not profitable yet but have limited my losses during my learning curve. Due to your teaching the learning curve will be much shorter, less expensive and much less stressful. I see a great and profitable future in this if I just endure the learning curve. When ever I do something new I make a commitment of at least 5 years to learn before even considering whether I can be successful. Success doesn't normally come overnight. Even though I am down money I am excited about the possibilities. One day feel that I will be able to comment about trades on your blog and thus give back. Again thank you for your professionalism and dedication.


Bruce Staggs

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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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