This market is bipolar. I won't complain over it though. I guess a solid day like this is a great way to start off the week.

I wanted to get a new thread started here early. I am in the process of doing this weeks research and putting together my watchlists. If the market is able to hold onto these gains, there are going to be a lot of great bullish set-ups this week.

I'll post some charts here on the next post. If you have any good looking ideas, feel free to share them.

Be prepared for a great week. I can feel it, this week will be a great one.

GOOG is still a great play. I think AAPL looks good. And I know no one wants to mess with this one, but CME I think (with news) will head up. Just some ideas.
KIM and LCC puts still moving in the right direction.

Randall and Michelle

Thanks Coach K (forget the Duke guy...your better). You really got me fired up for the week with that last line.

I know the water trans has had some popular set-ups on the board. I entered NAT on the bounce off support. Then the icing on the cake was the HUGE volume as it made a new high. The mid-point of Fridays candle looks like a good time to add.


I also continue to like DE. I have it breaking out of ASC triangle on 6/ and hold support and now start moving up. You also can see the Asc trinagle on the weekly chart. Don't multiple time frames add confirmation ?


Thanks Jeff

Thanks for all your hard work. It's appreciated. This is a nice trading day. Puts on BSC, KIM, & Pay are going down ...AND... calls on AAPL, GRMN, and POT are going up. What more could a trader ask for!

Dan and Barbara

WDC bouncing today.

CLF looks to be coming up from multiple support level but the options are expensive (hi vol now). I'm thinking of selling a put. Anyone care to comment on this idea and/or stock?


Looks like a good re-entry, it's as close to consolidating as you could expect from MLM.


OOOOooooo. Danger, danger, Doji Girl . Actually, you're right, the options are really expensive... perfect time to sell. The July $75s are going for $1.73 right now. Three and a half weeks and the stock is almost $5 above that level. Seems to me like it could be good play. I'd consider one just for the experience.

CLF options are expensive because it's a major takeover target, and the IV is sky high. How do we combat this? We buy ITM options.

Consider the prior high of $90 and the pullback to the trendline here and you've got a really explosive potential move ahead of you.

I didn't know about takeover possibility. I was actually thinking of selling the 80 put for $4+ for 3 weeks, not the 75, but will look at the ITM options.

BOOM - breaking asc triangle, wait for end of day
BWLD - trend bounce
COL - trend bounce
FWLT - trend bounce
STR - trend bounce
GRMN - nuf said
PH - bounce
MMM - sym triangle near apex

Still hunting for bearish plays

OK, forget what I said earlier about KOMG.

for a bearish play take a look at UAUA low risk right now
MBI just broke down
BAC i like as well

Hello all you crazy poetry writing addicts here is an idea or two:

Even if you are all Vimpled out, VIP looks like a nice entry or re-entry (re).

Appl- It looks like a pennant, and a spring about ready to uncoil???? Good entry for me.

CTV - Still haunting me because I am incapable of controlling my emotions and I am out. Maybe a bit extended but I like it still.

Nice bounce for DVR.

SBUX looks like it is headed for zero. But may have paused for an entry?

I am thinking that maybe UA maybe headed the next leg down.


But I love Starbuck's.



Brett, agreed on CLF. I am long with ITM's. I like the potential move.

SU support bounce. I like these as 90 to 100 plays. FWLT will continue to reward. VIP continues to be the most confounding thing I have ever traded. I have Oct options on VIP. As Brett and Jeff say buy time. If I had shorter term options on VIP I'd be wearing a neck brace by now.


Short ALB,AMAG (don't forget this one), DNA, NYX, WYNN


I know what you mean. I am sitting here in front of my screens drinking my 6th cup of SBUX Verona in my favorite SBUX mug. Ironically, I am getting ready to go to the Gym (Because if I can't see the charts I can't emotionally sell my BEAV positions today), and I am wearing my UA shorts. Moreover, I am wearing my Crox (which I took over 200% profit on a few weeks back) pre and post-gym footwear.

I love them all, but they all say SHORT to me.


Clarification, I would not take a position in CROX right now, until there is an actual downtrend, and sell signal, and a confirmation.

I was just sort of on a roll on that last submission.


CP very interesting. I like where you are going with this.

Long: All things Canadian eh


I don't see a lot of potential in AMAG. It looks to me like there's some pretty strong support at just above $55. I wouldn't be surprised to see it play in this range for quite a while.

David S. I like LCC better thank UAUA as a put play in this industry. United is a much stronger airline (sorry, Tim) and I see it more as a bounce off it's bottom right now (something I do by the pool... on the diving board.)

KND looks like it may break down through a long term support line and a H&S top. Not seeing the volume though. 5 month pattern with about a $6 target. Could retrace to 25. Slow mover.

Chris and Catherine the reason I chose UAUA VS LCC is that Lcc is over extended a bit. UAUA has a clear exit signal and target.

Thank you for your input.

also tale a look at fcx for a possible bounce and break of the flag pattern

you have to love BSC

WWOOAAAHHHH!!!! What's going on with the market? Took a five minute break to put a last coat of paint on the supports for the arch and the Dow has dropped from 108 to 49 points!

Whoa BSC is tanking.


This market is sooooo crazy today!

The VIX keeps moving up and now the stocks are going down down down. Except KOMG. I'm so glad I'm not in that one anymore.


Wow, just like the dueling dragons rollercoaster ride at universal..

KOMG is breaking resistence and is moving higher on heavy volume!!! I am glad I bought that CALL option and stuck with my plan. Patience can pay off.

Oh WAIT!!!

I bought a PUT option and got stuck BY my plan. Please forget the earlier happy paragraph.

This thing is way past my mental stop. Should have gotten out first thing today but when it went -.39 on decent volume I was encouraged... now I am discouraged. Decision is to get out now or hope for a retracement. I have until September. But, my curse is that I will get out and then the stock will turn around and dive down....crash and burn...and had I stayed in....I would have made money. But...if I stay in...I have no doubt the stock will soon hit a new 52 week high. Such is my curse.

Chuck from Orlando


support at around 175. Been within 175 to 180 for about a week. Good re-entry.



I see it approaching resistance ....

This comment has been removed by the author.

Here we go...S&P testing support on this potential double top. Will it hold?

My guess is that with the Vix at resistance and the S&P at support we should bounce here.

If we don't, and we slice through 1490 i'm going to get extremely bearish very quickly.

CLF - I chose a naked put @$75 strike last week because of the current choppy market conditions. It was bouncing off of a strong trend support line and the premium was healthy. This strategy gives the underlying stock a chance to move up, sideways, or down a little. If the stock goes up, I'll add with a longer term call position.

KOMG...uuuggg BUT wait, I also have 2 BSC put contracts!!! Oh the bitter-sweet of the trading day. Although today is a little more sweet!

Whoa, went to the movie store and the market moved from 50 up to 30 down and my account moved, too.
What's up with the market lately?
Are we heading into a bear market?


what do you guys think of OSK is the bullish trade over? do you think it is still within resistance for a bounce?

thanks the Market on drugs...or maybe it's just Bi-polar!

Too bad all of the other traders don't handle their emotions the way...that we're 'supposed' to!

And VIP is going up in it...amazing... Thanks DG and Brett...I think...!

I am still Brett...ready to move according to what the charts tell.

I am happy with todays action and my trades thus far..all staying within my trading plan...I did not hit Jeffs Sell button!! LOL....

Anyone else take down SKX?

Anyone else want to?

I wanted to hit Jeff's sell button a few times.

Though X has finally gone below my exit today. We'll see what it does within the next few minutes.


Double top or double bottom that is the question. Sticking my .02cts ito the issue I think we will have a higher bottom than that 1490 low on 6/7.

Brett, look what the market did on 3/14 and then 3/15 looked like the end of the world...for a couple of hours....
I hear ya that 1490 is key.



I would like to take down SKX.


Not out of the woods yet...we can still run right down to 1490 the next day or two.....then bounce and move up, or simply crash and burn.

I see it moving back up.....or is that me really just wanting it to go back up??

Got to wait and see what the chart and manage accordingly..

Got out of DO with a small profit.
AFL broke my support and I took with a larger loss than I'd like.

RL, VLO and JCOM are still above diag support. JCOM could have a good entry in the next day or so.

Raimo, Brett, I'm still going to be looking for more shorts in the near-term to help diversify...this is wild stuff lately!

Good Boy Chip.....

Being diversified and being properly positioned is key...all my calls and puts well within my trade plan...

Remember, the market is one thing, your trade(s) is another.


new thread-



You still in ALB? What about PAY?

I still have both....going short CP...

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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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