Also, if you are going to set a stop on a wildly uptrending stock that is going to issue a dividend, at least subtract the dividend amount from where you are going to place your stop. Easy example. $100 share price and a $2 dividend is paid, you need to factor in the adjustment to the stock price ($98).

I don't see any violation of trends on yesterdays movement, but perhaps not everyone was aware that the company cut loose a dividend.

I am getting ill hearing that traders are hoping in and out of trades that they don't need to. If you get out at bottoms, and in at tops, it is hard to find stable gains within.

Recommendation: "All we need is just a little patience." Guns and Roses

Long: VIP

Short: IIG post earnings. If you can't beat em' ... join em'.

Am I seriously considering holding CME puts through this weekend and putting myself through the agony....which I guess will be there whether I dump them or hold them???? Any thoughts would awesome.


Thanks for the blog.

For me, it's been great. Thanks also to Brett, C2 (c&c !!)and everyone else who shares there thoughts here.

I stayed un-emotional yesterday and today. All my lines in the sand are the past I would have gotten emotional and bailed, confirming losses and giving up gains.

I don't care how experienced or unexperienced you are, this is a great support group, both for those that post and those that lurk......

Anyway, my two cents, everyone have a great weekend.


I apologize for making you ill with my post in VIP. I have documented it a bad stop management. My mechanical stops are not set based on a specific R/R since I can watch the market action most days. My stop was set at 50% of the cost of the option at the $104.59 peak on 5/7 in case of catastrophic failure. I usually adjust these stops upward or downward every few days or so to give the stock ample room to move between support and resistance.

I can’t say it won’t happen again, I can only learn from the experience and do everything I can to prevent from it happening again.

Can I get a mulligan when I buy a beer in Chicago? Maybe that will help curb your illness?

Anybody jumping ship on AIV. What a beautiful set up an look what happened. I am still not sold on the break of resistance.

Jeff am I thinking like the giraffe?

Hold onto CME puts...WOW...that's a tuff call for me. Had the price action continually dropped, I could see that. But the price, and volume, just kept on climbing all day, and looks like it will finish above $535..

What say the more experienced??

I bailed on the way this day has gone you may want to stay in


In all honesty (and respect) I didn't catch your post on VIP. I was referring to the 14 e-mails I received this morning about it asking me if their decision was right, or if I would have done the same, etc.

Wasn't trying to single you out...just so you know. I was ill that the action was made, and then my opinion was asked. I would have loved to address it yesterday at the time of the action point rather.

Also, I do accept mulligans.


I'm from PA.... What is a mulligan....?

A mulligan is when you buy someone you don't know a beer. For free. Then you think it over (mull it over) again (Mull-a-gain... changed to mulligan years ago when drunk people started trying to say it very quickly to get more free beer.) It's more of a big city thing.

John, I feel Jeff's pain. You may buy me a mulligan too.

You're welcome

Can I get a mulligan for today?

Thanks C2..

I want a mulligan to then!!

make it Americas oldest too, Yuengling from PA!!

I will buy myself a beer..... Actually I already bought myself 4 Buffalo wild wings....those big ones.

I will make back my losses on CME next week. Thanks all

Oh, gosh. Don't do what I did last time I traded CME, hope it goes the way you want it to. Re-evaluate it, look at your support and try to minimize your loss if you can. Hoping only makes your account shrink. Hope that helps.

Thanks, Jeff, for your blog, suggestions, and helping us learn how to manage weeks like this as an experienced trader should, not like the newbies that we are. I know it gets frustrating listening to us, but, promise, we are learning from you.

Have a great weekend, all. Forget the market and enjoy life a little.
Randall and Michelle

But seriously folks, bailed on BBY today and got into STX. I think there's more potential there.

It's been a very interesting week and there has been HUGE volume on the blog. I have had a difficult time keeping up with all the comments but there has been some GREAT stuff all around. Have a good weekend everyone. I, for one, am going to go and crush a few golf balls. Tietelist would be a good stock for you all to go long on, as I tend to lose a lot of those pesky round white things.

Ladd, Hold those CME puts over earnings. That's my call. But what do I know? If I could afford a CME put, I'd own a 10,000 square foot house on a 10,000 acre ranch in Utah.

Or Buffalo.

With a name like Yeungling... how can it be Old??? I don't get it... shouldn't it be Oldling?

Hmmmm I'll go have a Corona and think about it.

Ladd is out of CME.
Thanks all, have a great weekend.

Did I mention that I made this blog my homepage

Ok, Jeff I am one of those that missed the dividend on VIP but had what I thought was a wide stop well below support. I had to leave my computer 30 minutes before close yesterday and that last dip of VIP got me. I would have rather stayed in too. Good news is that this is the only one that bounced me out this time thanks to the wisdom that you and the other Addicts share here! You have no idea what sticking to my plan and rules this week and being patient (less emotional) did for me - Thanks. What I used to think were exits are now retest entries...thank you all for your patience with slow learners like me.
Great and wonderful weekend to you all.

CORONA?? With Lime...??

An old favorite of mine, though I like Sol better...

Oldling....I'll call the brewery right now and get that corrected...

Have a great weekend..

_____________NEWS FLASH!!!____________

The TSX (Toronto Stock eXchange, for those who don't play it) closed at 14,003.82 today. Can the Dow be far behind? POT is available to those who'd like some for-ex in their portfolio as well as a great stock. The $Cdn has been moving up nicely over the last little while so the two would make a great combo platter.

Speaking of which, it's Dinner Time!! Have a great weekend.

I got stopped out of CME, too. Exited the trade with an 8% gain.
Since this was one of my bearish diversification trades, I'm tickled pink at the gain. It's a challenge to trade counter to the overall market trend.
Have a great weekend, all!

I guess since I have made some money off of a lot of your suggestions here on the blog, I can afford a few mulligans. Especially since I never said "who" I was buying for...

If anyone is watching the Yankee/Mariner game on Sunday and sees a short little Irish dude dressed in Yankee road greys being escorted out while his family follow with their heads down, that will be me.

Have a great weekend and Happy Mothers Day to all you mothers! Oh, and Muthers too!

Wow, for the first time ever, everyone of my trades today was up. Puts went south and Calls went north just like they were supposed to. Yee ha, beers for me tonight!

This blog has been a life line. I'm still dragging behind the boat in the cold water but I'm reeling myself in, slowly but surely. Have a good weekend all. MikeH

ok ,now i'm really confused,,i thought a mulligan was a golf term,,,forgive a bad shot? love all the action on the blog this week , although,,like so many others who have to go out to work, it does take a while to read it all,,,dont get me wrong,,not complaining,,,keep it coming

long hoc,ati,nmx,de


I have only know "Mulligan" as a golf term. When I first started playing golf years ago, the person I was playing with hit a bad shot on the first tee and declared he was going to take a Mulligan. My thought was he should have thought of that before he left the house.:) I would love to be able to take trading mulligans but Jeff said no. Everybody, have a great weekend!!

Anyone who decides he (or she) is going to "Take" a Mulligan is a crass and selfish individual. You offer a Mulligan to a person you wish to buy a free beer for. "Taking" a mulligan is akin to armed robbery.

The PGA would be apalled.

I love making this stuff up.

lol chris


Just give me a dang Yuengling!!!


It's never frustrating listening to any of you. I imagine in reality it is frustrating listening to me.

Have a great weekend,


We hang on every word Jeff...
Only mulligans I have heard of are in golf but I like the beer concept better. Jeff, Pam is starting to wonder about you and your pictures, was that your intent? What are you people doing here on a Friday night...go be with your family. What me ah I am ah just leaving...

Sean M.,

I too only know "mulligan" as a golfing term. I didn't want to insult the Canadians (C&C) for their (his) interpretation…

And if here it means doling out beers, I guess Chris and his creative story created a new meaning. At least for now.

Have a few this weekend.

Does anybody have thoughts on AVB ?? Huge H&S pattern with 20 point target ($105), hit $120 and stalled for a few days, then friday it shot up like a dang rocket !! touched $125 (neckline) then closed at $124-ish.
If it breaks above $125 i'm out. I'm thinking it's just taking a breather, it did drop almost 15 points in no time.
tonya w


you've described a retest perfectly.

Anyone planning to short LEND on its earning release today? I'm in, risking the entire (very small) premium. I figured, hey why not take a shot! If we're lucky, it'll be shot dead!!!

Have a good trading week everyone!

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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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