Addicted to Mainstream

There is a great article by Adam Warner on today that discusses financial blogs. If you haven't heard of Adam he is also a professional options trader. In fact he traded on the floor of the Amex (which I still insist is the worst exchange of them all, no offense Adam). Here is the link...

Scroll down about halfway down the page and you'll see a link to our community! Thanks Adam!

Recommendation: Yeah, it's a baby step, but still pretty cool.

Long: Adam Warner

Short: Jim Crammer (yes I realize it is misspelled)


Found something I want now...need a few 4-5 day trades netting about 600% each....can we work something out?


Genius is nothing but a greater aptitude for patience.
-Benjamin Franklin

Genius is nothing but a greater aptitude for patience.
-Benjamin Franklin

A flute without holes, is not a flute. A donut without a hole, is a Danish.

-Ty Webb.

I left this on the last thread but in case everybody switched over to this one... I'm voting for John to change his name!


not to beat a dead horse but did anybody see NMX?


Hey Guys have a great rest of the day, were out of here.

Brett keep the bulls running


Grant and liz(finally my name first.)

I left this in the last thread because I didn't realize this one was started, so here it is again:

Is anyone seeing the gap up on PAY as a re-test and using it as a chance to add to their position?

It's all about the burrito. I don't know how many times i have to tell you guys!

AMG is a beautiful entry, in my opinion.


I am NOT adding to my PAY position. Will monitor thru end of week and consider then.

Love action on MA and VIP today.


The probability of a loss is higher than it was earlier. Also if you happen to be in a loss in this position, try to avoid adding to losers. Dollar cost averaging doesn't work to well with options.

The bulls and bears are fighting
The battle who will win
My trades they test my patience
I take it on the chin

PAY I see in question
but wait for thirty five
A close above this trendline
The trade will not survive

X has played me silly
But I still hold her dear to me
My rules have not been broken
Will she bust me we shall see

GOOG has made a move
And not in my direction
But PCU and Garmin
have shown me some affection

Called an angry trader
JK would deny
Ignore those names and read his blog
And your account will surely fly

Logan is Costanza
When he is cognito
and to get the market moving
Our Brett sucks down burritto

Now off you addicts Trade wise and smart
Your rules yes they will tell
Make no mistakes and follow them
You will profit bell to bell


Dang, you and these burritos..YOU ARE THE MAN!!!!!!

I didn’t realize that I had a stop set on PAY. I got stopped out at $36.20. )#*&$)*(&()@#&! Poor stop management makes me EMOTIONAL @$*(^(&#$^&*#^&*#!!!!!!!!!!!!!!!!

I revisited my mechanical stop management after I got stopped out of VIP a month or so ago. Apparently I didn’t revisit it long enough.

Sorry about the stop, Costanza. Go ahead...get emotional.

Anyone in BCE. I have followed it up and been patient while the stock consolidates.

I plan to exit at new support around 36.65.

Any thoughts on this?


Forget what the pundits are saying about the 10-year note. Pull up a 20-year chart and draw a resistance line against the tops. Looks like it's EXACTLY where we bounced down from.


I'm still in with long-term calls. The buyout is going to happen and with multiple bidders, i think it could get interesting.

I had only looked at the 5 year for another eye opening.....


Sorry I should have probably rephrased that question. I'm not in the stock so what I wanted to know is when a stock gaps up like that and touches the neckline, could that be considered as an entry?

But I realize it gained a lot and on strong volume so I'm not considering entering it anymore.

Thanks for the input

I do not have long term calls, but I have until July. I did notice the news getting interesting, but also trying to trade the price action.
If the price hold this area, is this where I would add to my position?
I could go another month out.

SLB is making a nice move today but I would be happier with more volume. I am already in a position so I am happy so long as it holds until close.
I have been traveling for the last 3 weeks and can not believe the traffic on this blog.
Jeff, congratulations on your blog being noticed on Minyanville. Cream always floats to the top.

Beige book came out from the Fed. Things are looking good so far.

Hey everyone, anyone watching MSM, looks like it is testing the 50.50 support.


Having met John Logan I would say Castanza definitely wont fit. Maybe more like the bad guy in the increadibles.


GOOG needs a kick in the nuts so I can throw back a Yuengling later..

How about a flag break on GTRC?


nice timing, i just got filled on it!

Hey Brett. Me too!


I feel like playing a guitar me some as well...nice pick!

Anyone else looking at ACN. Nice price action today right at diag and horiz support?

Is anyone holding Goldman Sachs past earnings?

I'm playing guitar too.

Also entered MSM.

Go Bulls...

And HOW are we playing guitar?

I've got August $55's.

GME looks like a decent play as a flag break/bounce at the 20 DMA. Volume large on the up days and low on the down.

I just bailed out of ACN which I was in for over 3 weeks. Had a great profit and watched it slip away. I just exited now because with the market up 160 and this stock has not been able to get out of bed for for days. And it's starting to look a lot like a H&S.

Now that I'm out of it, I'm sure it will start to rally!

Thanks, a little GTRC myself. Tapped out now! I have to wait for my positions to play out before I enter anything else.
Lots of great trades!

I haven't played this one, but wanted to offer FISV as a nice flag break today. volume is a little better than average.


I am selling 2/3 of my GS position at market close today and holding 1/3 thru earning.


GS is flying must be alot of interest playing earnings?

Love my yuengling, buy love my TAP. Anyone get in on the retest??

I try not to get too attached to my trades, but i want to offer this:

With a bullish harami/hammer right at 2 levels of support, if X can bounce here and take out $120 again, I would feel a sense of proudness that only a father could have. After all the adversity, the broken deals, the harsh criticism, for that guy to roar back would really be a great story (in my mind, anyway).

Kas you must have read my mind. I sold off 2 out of 5 contracts . Good Luck! got that right. I never let it go either..still within my rules. same for GOOG, thought it is testing my will.

As for GS...i am holding over a smaller postion.

Bret I also bought X again today about 1/2 hr. ago Good Luck 120 sounds good to me.

I am adding to X...

We just got back

nice job Brett, we all need to chip in and buy you a life supply of burritos.


Bob nice poem I likes

all who bailed on PAY say "aye".


I had too. Penetrated the neckline by 2% and held strong to the end. I can see how it is still positioned to turn down as a bounce possibly, but I didn't enter it as a bounce, but as a pattern, so for me, I had to do what I had to do.

Other opinions?

on the flip side, the dow and SPX closed higher than their previous high a few days back. are we feeling a little more bullish? or, are we just getting suckered in?

got into MSM, GTRC, ACN today.

I bailed on PAY today too. I had to for much of the same reasons you did plus, I had position sized the trade based on my alloted trade loss. TOday hit it and rules are rules. Like Jeff said earlier today, it's just another trade.

Also, I'm travelling again starting Friday for about a week and want to stay mostly out of the market when I can't be around to babysit my trades.

Dear Community,

I received a notice from AAPL that the i-phone will hit the stores June 29. I am a novice trader, and am pondering if this might make the stock rise, I am feeling an urge to place a long call trade. Any opinions are heard!

Thanks, Constance

Re ACN, my original target on that was 43 by mid-July. I had the August 40s. I entered on the original breakout of an asc. triangle toward the end of May. What did you buy?


No, the market is a forward looking mechanism. The reason AAPL is coming off it's all time highs is because the market has already priced it in.

And then some.

I smell a top sooner than later.

Doji Girl. I bought August 35s on ACN. I should say, I bought a single August 35. I am a small position trader at the present and I went even smaller than normal with ACN since I'm anticipating something.

I'm treating this like a bounce trade but I see the original target from the previous breakout as possible. I like it because it's at horizontal and vertical support, very low risk and I like the nice hammer price action today. We'll see.

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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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