I Overslept

What should we talk about today? No comments about Mastertalk last night, which means I probably misfired. Any feedback? Was the material good enough to try and follow up with a post about the topic?

I am a little behind, forgive me. Here were last night's honorable mentions...

Long: EWW, FMX, CVH APA, OMG (waiting for a breakout)

Short: ESS

Jeff,

I think I got in late on the Master Talk, I thougt it started at 10pm EST, but was already in full swing when I got on at 10. What I did get was great though, definltly got a lot from it. Thanks again.

Jeff: Don"t worry you made money while you were sleeping.

Also I admire your stamina.

Thank you

Option addicts take a look at OSG

Hey Jeff-

Last night was one of the best Master Talks I've listened to. Sometimes I feel like the more I learn, the more I realize how much I don't know if that makes any sense. You have a great way of making things look simple. Wondering if next time you could talk a little more about holding over earnings :).

Peter V

I thought last night was the tip of the iceberg...so much to learn yet. I did come to the conclusion that I can't just buy ITM options for every trade. For example, I exited TSO yesterday. I had an ITM option and was hit hard. I expected the stock price to make a new high which was at least an 8 point move. Had I taken that into consideration when buying the option, I could have bought an OTM and maybe not have taken such a hard hit.
Thanks, Jeff. I missed the Q&A last night, but will watch it this afternoon.

Jeff,
I thought the option material from Mastertalk was beneficial. Good simple definitions of greeks and of the effect on which option we should be trading. Especially helpful is the slide on ITM, ATM, and OTM summary for investing style.
All May options due to expire as planned. I have more bearish plays working for me even though we still are in the bull market. I will rebalance soon. Thanks!

Missed last night.

Amy, where can you watch the Q&A? Here?

Long: COL,MLM,MUR,SBS,X,ZRAN

Short: AIV, AL, NHI

Jeff, there are a number of very positive comments about Master Talk in the last thread. Please don't think you missed the mark, buddy. Catherine and I are going to sit down and listen to it tonight with a glass of wine (or a jug of tequila.) Did you get my chat last night about not being able to tie up the hotel phone in Edmonton? I really, really, really wanted to participate.

I think this is going to be one of those "AHA!!" moments in my trading career.

You addicts are too smart for me.

Yes, when I purchased 10,000 shares at the IPO of JKB, the Option Addicts charting sofware was thrown in free!

Check out DWSN, bullish engulfing at support, re-testing the 5/2 breakout...

Strat,
Look on the IT site under Education>>Investor talk>>Master talk. All the previous MTs are there to listen to.

Strat,
I wasn't able to stay with Mastertalk for the full presentation. Usually, the last hour or so of Mastertalk is Q&A.

I didn't realize how dependent I am on Prophet charts. I am glad it is up and running again.

Jeff:

Mastertalk was great!! I wish I could listen to the old ones as well. Are these archived?

To be able to learn from someone's experience is priceless. That is why doctors do internships and that is why we addicts are your interns.

There is a strategy on where right before expiration you either buy a call or a put on the SPX depending on how you think the set price will be on Saturday.

I have not done it, but I had a friend do it during earnings for GOOG or stocks that could move the SPX.

I do not know if you care to elaborate on something like this, I know it is a gamble, but if you do it small enough maybe it could work.
Just a thought

Jeff,

Last night's MT was helpful. I've printed out the Greeks slide and will use it in helping me decide which option to trade.

I have a question...if a stock has gapped up a few points due to earnings and then seems to be flagging, and you're trying to measure the estimated move up after it breaks out, do you count the gap as part of the pole?

As an example (but certainly not the only case I'm seeing lately) someone here mentioned OSG and I'm trying to figure out if there is another 10 points in this move or has the, um, ship already sailed.

Thanks...
Doji Girl

Jeff--The mastertalk presentation was great. Very informative. For the record, I sat in on the Pricing and Volatility trading rooms you attempted to get going a while back and thought they were awesome! The more I hear the stuff on the different options, the more it starts to sink in. I finally feel as though I have a better understanding of what I should be trading and when. Thanks.

Thanks for the feedback everyone.

I hope you don't think I was fishing for compliments, but I truly wanted to know if it was easy to understand, if there is an easy to apply method behind it, and if it genuinely helped or not.

Glad to hear so far that it was helpful.

MLM is setting up a beautiful support bounce. Can I change my trend lines from black to green ? I think they should be the color of money.
Bob R throw the Yuenling lagers on ice and celebrate so many great set-ups.
C&C stay with the tekillya and I'll be right there.
Jamie

OSG

While OSG can certainly make a run higher, I know for me, I missed the boat. Not a good entry point for my taste. For a 10pt move up on OSG, seems to risky for me.

I'd rather wait for a better entry on OSG, or take a trade on a pattern that is setting up on another trade that gives me a better entry and risk reward. Look at ATI, it is at support forming a triangle...with a potential $10 - $15 dollar move if it confirms..

Just my thoughts, hope it helps..

BoB:
I told you NM was poised to move.

Doji girl: I will let the master answer, but The way I see it you can manage risk by using the top of the flag as support and OSG flagged because it was perceived as a good price and people bought after the news. Also institutions do not buy all at once so they have to take a break not to run up the price too much, that is where the flag forms.

I also listened to the call and had good prospects.

I might be wrong but it is working

Hey, if you followed the NM reco on the Marketcast 2 months ago you'd be approaching a 40% return!

Love this stock!

Dave

NM is making a very nice move.

Too bad I have the disease fundsalow......

Boy I just hit my cap on the options account. "Cannot complete transaction, insufficient funds to cover, reduce contracts or find another option".... so many to choose from and not enough money. Waaah.

Jeff, Last night master talk presentation was great.Understanding Greeks is one of the most important part of options trading and you made it easy to understand with practical, simple examples.

thanks,
raaj

Bottom Feeder.

I share your problem. Seems I have more Yuengling than i do trading capital!

Jeff,

What I heard of MT last night was great, although missed the first 45 minutes, the site said it started at 10:00 PM EDT, really started at 9:00 PM EDT. Will listen to the rest later. You're really great in taking everyone's questions, down to the last call or chat, it's appreciated!

BA is flyin' high today!!!

Did I ever say I hate Stops?

I HATE STOPS!

Had to be out most of the day and set stops in case the market decided to tank...catastrophic protection. Stopped out of several positions. In all honesty, I think it will end up helping me, may be able to buy back at better prices...

But that's not the point...I hate Stops!!! Ha! :-p

Long: TSO, SUN, AMG

Short: AVB

Chip,

Where do you see this? I have heard this twice, and when I go to investor talk, click on Mastertalk, above both sessions it says 9 pm ET. Are you looking somewhere else?

Jeff,

When I looged in it said 10pm EST also.....

Same thing happened to me. on the Web EX link it showed 10pm eastern

So I went to watch American Idol and logged in early to see that it was already started.

Now that is a great business model that American Idol. How about an Options Idol

Have a great weekend everyone, relax, fish and drink (not bud please as I am short and tap)

Corona as we are long on Mexico

Jeff,

Yes, I went to the regular, typical site/location, you were listed as Session 1 Time: Wednesdays at 10:00 p.m. Eastern.

It's been corrected now and Session 1 has Alan Keate there and not you.

Session 2 still has Kelly listed. In the archive below, you are listed for May 16.

Otherwise, dunno...

David S.
Corona it is... AND Tequila!!! Now there's a Mexican combo platter no one could turn down.

Jeff, I listened to MT and it has left me wanting more. I feel like I've sat down to dinner and been fed but I still want more (something I can relate to in the real world.) Can't explain why... and I don't know what I'd like to hear. Some time I'd just love to sit down with you over a jug of Tequila and just talk about the whole ITM OTM thing and it's real-world implications. I really think I'm getting it... I just feel there's more out there.

OK tomorrow needs to be a GOOD day to finish off the week. The last couple of days have been frustrating. Everything's moving back to support. At least TSO proved to be worth holding.

Bob,

I appreciate your comment on ATI, I am in the trade since 5-7 and hoping/expecting it to move back up, I didn't notice the triangle forming until you mentioned it. Thanks, it gives me some more courage and patience.

Brett, or Jeff,

CNS is the first cup and handle formation Iv'e traded. It's a kind of case study for me with a small position. I'm not familiar with where support is on a cup and handle formation, or how the price tends to move. Could you mention a couple of former cup and handles that I could look back on to learn from?
Thanks,
Michael

Hey, all,
Missed most of the blog comments today. My little girl graduated from preschool (yes, they have graduation for preschool now.)

Anyway, Jeff. I thought Masters Talk was good also. I was really down after the week I had and stayed up late analyzing trades and made some new ones today that I feel good about (options, too.) My account is actually doing okay, even with the new trades on. The puts are awesome. This is the first time I feel so good about puts. Thanks, thanks, and thanks for being a good teacher and encourager.
KIM and ESS looking good.



Randall and Michelle

Jeff, I just want to add to the list of appreciation on one of the trading rooms advice you gave us. Utilizing the graft line instead of the candles towards the end of the trading day and longer time frames gives one a much clearer perspective of the charts.

Long, ENERGY XLE,APA
Short, ESS, PLD

Jeff, I said this once before but will add to this post as well that I did really think the MT last night was great. After reading Chris's note I think I feel like he does that I am getting it but would have locked it in for me if you had shown more in an example. I would rather have what you did than cut that to have the real world example though because we can do that with paper trading. However, my correlation between paper and real trading is nill. What I try out as a paper trade and does great is not as successful in a real trading but I think that is a patience thing. Your teaser on making money with Volatility sure made me want more...The concepts sound so easy and the actual doing so difficult.

Jeff,

I wish I could get an audio recording of last night's MasterTalk. I need to put it on my mp3 player and listen to it over and over so I can absorb all of it.

Thanks for what I think was the best instructional segment that I've ever received from Investools.

Chris,

I would love to have a timmy's & timbits (I bet this is foreign language to most here - canuck lingo) when you are around. I have 3 little 'uns so sometimes finding the time to go is hard. Hiking in Banff sounds great tho..... Liz, why do you come through Calgary to get to Lloyd and not through Edmonton?
Anyways, a friend to sit and chat about trading would be fun - this blog is my only trading social outlet.
As for the hammers..... sure glad I didn't live close to Brett the other day - he really may have rented a bag of them to crash through my mental block.

Last night MT was great Jeff. Thanks!

Jodi
Canuck

**** I'm an Ingrate ****

Yup, Jeff, I'll have to admit it. The Master Talk was fantastic, the part I heard (I too had webex say 10pm) was awesome and yet it takes you asking for a response to get me to thank you and tell you I learned some good information.

Did anyone jump into NVTL? It was a gem that I found based on last night's Mastertalk...my order never triggered while I was meeting customers today, but I'm assuming that there will be more where that one came from based on Jeff's insight.

Thanks again - you shouldn't have to fish for a response!

Gary

**** I'm an Ingrate ****

Yup, Jeff, I'll have to admit it. The Master Talk was fantastic, the part I heard (I too had webex say 10pm) was awesome and yet it takes you asking for a response to get me to thank you and tell you I learned some good information.

Did anyone jump into NVTL? It was a gem that I found based on last night's Mastertalk...my order never triggered while I was meeting customers today, but I'm assuming that there will be more where that one came from based on Jeff's insight.

Thanks again - you shouldn't have to fish for a response!

Gary

JOE WOOD,

You mentioned "I wish I could get an audio recording of last night's MasterTalk. I need to put it on my mp3 player and listen to it over and over so I can absorb all of it."

Here is what I do. I use Audacity to record the audio and export it as an MP3. Go to: http://audacity.sourceforge.net/
and download it. You will need the DLL (optional LAME encoder library) to export the MP3. For instruction go to: http://audacityteam.org/wiki/index.php?title=LameInstallation

It comes in handy when I want to listen to the MarketCast when I go for my morning bike ride.

I was looking at FMX today but the spread was a buck. Hard to step into that one. Too bad. Got a few nice entries elsewhere.

This comment has been removed by the author.

Hey Guys...

If you want to download the Marketcast, you can do so either right here on the Blog or on the Marketcast 'player' on the Investools site, there's a little disk icon, click on it and you can download. I don't think IT has done anything like that for the Mastertalk unfortunately.

Sounds like Eric and Jeff are way ahead of the company and seems to be like pulling teeth to think outside the conventional box...my opinion...not coming from anywhere else!

Jodi-

I'm not sure why we fly into Calgary instead of Edmonton. Cheaper? I can't remember the initial reason why. Maybe I should do some more investigating before we buy our tickets out there this summer. Though, I'm not sure about Banff. It's the opposite way from where we are suppose to go.

Oh, and I would love to get some doughnut holes! Yummy! Though, that might ruin the time I just spent kickboxing! I'm trying to work off three pregnancies.

I'm listening to Masters Talk tonight! Can't wait. Especially with all the great comments abounding.

liz
pasadena, ca

Jodi-
Okay, I'm a little slow... I remember why we would fly into Calgary instead of Edmonton. Kindersley. Some of my husband's family lives there as well and it was easier for them to pick us up.

liz
pasadena,ca

Thanks for the great MT last night Jeff and thanks for exposing my weakness of not understanding options as well as I should.

You hit the home run last night. I think I speak for all who attended and wish you could have a follow up MT session next week and provide even more insights into the mind of the Addict. Consider the title "The Option Addict's Academy of Higher Intrinsic Education".

Thank you for all the time you spend teaching us. I'm not sure where you find all the time in a day to do all that you do for us. I recognize the time, effort and commitment you muster each day to provide the resources and education we need in order to be successful in the world of options.

Thank you again Jeff!

Stay positive everyone and remember...go Cubs! (although they really blew it in NY this week. Tomorrow is another day to go get 'em. Cubs AND trading!

Jeff,

It was great to have the volitility relationship with options spelled out. I like to know why anything happens, understanding concepts is very helpful to me. I have been on this site and in the Cast for a little over a month and have grown faster in my trading than at any point. You and UT do a great job and bring a twist of "smart ass" I can appreciate. Thanks also to all the posters out there, I learn from all of you, even the mistakes. Other peoples mistakes are easier to swollow.

Now Jeff, you can truly apprecite the Seahawk fan, maybe next year Golden State.

Jason in Oregon

MICHAEL,

CHECK THE 5YR ON SHLD. IT HASN'T REACHED ITS TARGET YET, BUT IS AHEAD OF SCHEDULE.

JEFF

bozzman --

Thanks. I already use Audacity but didn't know that I could record a audiostream from the internet. I've tried it and it works perfectly!

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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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