I would just like to say that it's a beautiful day here in OKC. Just sat outside at Chickfila (not publicly traded) and had lunch while listening to "Reminiscences..." on my ipod. Nice!

Now back in the office. Wish I wasn't having to endure the pullback in the accounts, but hey, it's not about the day to day, and fortunately, due to some diversification with puts, I am down, but definitely not down as bad as I would be.

Plus, I'm glad for the pullback as it usually produces good setups for the next move higher. Let's hope the trend continues.

Long: MLM (at least it keeps on moving up), CVH, DRYS and a bunch of others that aren't moving up.

Short: KIM, KMX, HNI, PFCB, PAY

Hi Everyone. I've been reading your blog for a while now but I'm not much of a talker. Just keep it up.Like to listen to Jeff on Master Talk. Will keep reading, probably won't write much. Again Thanks
Gary Hann In Yucca Valley, CA

Gary,

Thanks for letting me know that you are stopping by. I appreciate your support and hope that the blog continues to be of help.

Jeff

Jeff,

'Probably' not your posts killing the conversation...just kidding!

More likely the market today killing the enthusiasm!

Don't worry, we haven't left you...just hangin' out watching to see what the market's going to do for the rest of the day.

I'm still waiting for you or Brett to let the Bulls back in!

I'm here just been too busy to post anything of interest. this world of reality T.V. has been all consuming.


Sarah

Sarah,

When you get a moment, I need the low-down.

The bulls never left
they read my poem
they had a laugh
and headed home

return they will
do not fret
ready to open the gate
Is Jeff and Brett

You know where to find me :)

Sarah

Like Gary I'm not much of a talker but I do read several times each day.Today I am trying to diversify,not much luck so far.

I just started trading with "real money" the first of the year and as of yesterday was at last ahead, we will see what happens today

I have listened to Master Talks but no longer have a subscription to that. I do learn from this blog and greatly appreciate what you do for all of us.

Tahnks for all of your help.

Brooke


.

GOOG gonna explode, look at the volume and price action on a down day today....back away...and stay clear...

But then I could be setting myself up here for a let down too....

Now if the Yankees could get something goin here...

C,mon fellow traders, let's keep this blog going. My crystal ball(charts) is telling me that we are still in the bullish mode. and it's now flashing and suggesting that this blog will continue to give us good fortunes.

Jeff - i have been improving tremendously on my trading style since i started reading your blog.
and what is important is that i am starting to profit most of my trades. ...Actually i depend heavily on my crystal ball and you know what, the style of trading my crystal ball has is almost the same as yours.(breakout, uptrend support bounce, portfolio risk and OTM too) .....mmm...this makes me think that maybe you are the idol of my crystal ball.

Thank you again jeff and appreciate all the things that you are doing on this blog.

Bill T

Bob,

Gettin' a little carried away with this Poetry stuff don't you think?

And if we agree with Brett,
A mind you may have "lost"
But keep your eye set,
on trades to get tossed

Profits be they not small,
on a GOOG day to be up
And prepare us all,
to not cry like a pup!

(Bob you are the master, although I couldn't resist!)

KUDOS TO CHIP

Thanks, Bob, for keeping it clean.

Jeff,
Think we are all waiting for the pull-back to stop. My positions are holding okay, but don't want to trade too much. Sometimes I just wish Bernake would keep quiet.

Been entering some puts (which are down because I just entered them,) and studying all the stocks you introduced.

Jeff, I think we are all just holding our breath.

Randall and Michelle

Bob,
Did you see the recent news on GOOG? I think that might drive the price up even more. I couldn't resist and bought a small call on GOOG. Even though I got out early, I think this thing may break and run. Hey, wait til the market rallies tomorrow, who knows how high it will push up.

Please, no more poetry (laughter.)

Michelle

whats up addicts
for anyone watching FSLR its been flirting intra-day with breaking and holding 70
long - vip, amzn, fslr, x, jbx, tso, isrg, mil
short - pfcb, qid, pay

brendan
ca

AMZN good bounce off support today (not a bad move on a down day.)

Okay, guys, I'm gonna go take a nap.



Michelle

Hi Jeff

Do you think it's to soon to say dish is down trending it seem be bouncing of that 47 resistance. or should a person wait for the lower low to form before saying it's a down trend?

Thanks grant

Steve K,
I'm up here in Canada so work for the only international carrier we have... Air Canada. It keeps me away from my computer more than I'd like (I'm in Ottawa today, and just got in.) We have every unionised employee's contract coming up for re-negotiation in 2009 and I predict strike. I want to be in a position to trade full time by then and let my pension roll in.

How nice of the market to give us and example of why carrying puts as insurance is a good idea. I'm neutral today (OK, ok, I'm down a hundred bucks, but my version of accounting makes that a neutral day.) My 401k, on the other hand is up substantially. It's got CA:T.CKI POT, MLM, SHNY, STR, and X in it and has just been on fire this last little while.


Just as I suspected VIP continues to coil, but no jump yet. Anyone willing to take a risk should see something happen within a week, but it's coiled up so tight that if it breaks down you won't be able to see the bottom of the crater. I'll sit it out for now as everything else I have... I'm happy with (especially my family.)

Now I must go and lick Ottawa's wounds. Wouldn't you know I'd come here the day after they lose to the Ducks, and basically have now lost Lord Stanley's Cup.

And I was just getting on a poetry roll too...dang....

H & S forming on KLAC....??

LYO .. be nice...

Jeff,

Was out all day playing Realtor so I have a lot to catch up with here, hence nothing to post. Like the man said, "I'll be back".

"I'll be back". Now there is a line from a great movie. Jeff, jammed at work today. I'll try to add something in a few.
C&C...can a Duck really carry that big trophy ?

Jamie

Jamie, you know what they say... "like water off a duck's back." Don't know what that has to do with the Cup, but somehow it seemed deep.

Nice to see a bit of payback on PFCB today. Congrats to those of us that stuck with it (a small, self-congratulatory pat on the back here.)

Anyone interested in PCU it's pulled back a bit and may be nearing a good entry point. I've got Sept calls on this one and have made 100% so far (after today) in the 3 weeks I've had it. Hmmm, perhaps another self-congratulatory pat on the back may be in order.

Bob, I used to regail my family with Christmas poems until they begged me to move out. You've got talent, young man. Guess all that country living muddles up the brain real good, huh? Waiting for the official invite to the Addict Roundup. It would be nice to see Crash Kohler and his family there, too.

C2

Got PCU on my radar too, thanks.

Stone Mtn as an addict retreat is always an option, no pun intended...(well okay it is intended).

Maybe even make it an annual addict event, who knows!!!

For those of you wondering what a breakout looks like, GOOGle it.

he he. just couldn't resist.

The gate is now open....

Brett

THATS funny...

Brett

Thank you for AAPL

You called it to $100 a while back. My May's made me lots..

Great day

MSM nice flag
CMI Break out
DISH bouncing off old resistance 47
PFCB keep on going

Grant

Hey guys, sorry VIP didn't work out as predicted. Anywho, check out USU. It is a nice flag with 1st target of $25.65. I'm thinking the July 20's are about my speed. I'm sure Jeff could talk me into the 25's though. Hope everyone is doing alright. See you tommorow.

Stephen

X X X X

don't tell my wife but I I still love my X
Grant

Jeff, I had technology problems I had to fix (printer/fax blew up and HP was no help at all). Then I had to read through all the posts and view the videos and, well you get the idea. It appears to me that the only way you could kill the community here is by ending the Blog and then several of us would rally to start something I am sure but please don't ever do that. Great to see new posters (is that a word) on the Blog today even if they are not big talkers.
Wish I was in GOOG, may get into PCP and PCAR though. Now do have one PUT LCC and looking for one or two more maybe. Chris I was thinking the exact same thing that was interesting how the topic of the day was shown in the market today. I think Jeff had something to do with that or could it be Brett and his MW (Bob I was going to say poetry made the impact but anyone that writes poetry and carries a gun I leave alone!)

You know I thought we were missing something on the Blog most of the day today...

hmmm...down day...where's Brett...?

Market rebounding (okay a little)...Brett reappears...

Ahhh...must have been gathering the Bulls...

Brett can you bring the rest back for Wednesday's session? >:-0

Hey Grant, I think Liz reads this!
We need to pick a date for a dinner meeting in a week or so then Pam and I can meet some fellow traders.

X is flying SSSSSH the bears might hear me.

Because I love you addicts, here you go...

CHKP. Check out the symmetrical triangle breakout today and examine the long-term trend. Big possibilities.

RTSX. Sure looks like confirmation of yesterday's bear flag break to me. long way down.

CME

Getting interesting...

Hey, who lit the fire under X in the last hour or so...oh my goodness...yeah baby!

Bombs away...watch out tomorrow!

Bob let's not forget GOOG !!!!!

Just exited my PENN june calls..tidy little profit..

Bob it's cool, Liz loves my X to.=)

Next week sound good I'll have to ask liz, when she gets back from kick boxing.

Help, she beats me.

Grant

Grant,

I hope this doesn't cause any problems, but, I LOVE your "X" too. In an extremely unemotional sort of way of course.

I hear ya baby on GOOG..I am still in rockin anda rollin.

Thanks Brett on RTSX...

I am still watching GRMN and REDF...

Not to mention Jeffs videos..

Seems like everybody wants somebodys X.

Thought this was a clean site, LOL...

And some don't like my poems...jeeesh...

I have to publicly thank Jeff and Brett. The biggest difference in my trading improvements are directly related to them. "Wait till the end of the day"..advice that for me has worked.

Thanks.

John

Wow who hasn't been with X I feel kind of dirty

Grant

Bob
I second that motion

Hear, Hear

Jeff and Brett for President!

I'm riding your X every day, Bob.

She's just been so good to me.

Bob,

It's not they don't "like" your poems...they're just so 'deep', they can only take them once in a while!

You'll have to enlighten us...down the road...!

Now, president of what exactly?

Brett's nomination is now in question...riding someone elses X!

My $.02 on diversification (from my trading rules) -

1. Always have some balance between calls and puts. KISS - more calls in bull market, more puts in bear market.

2. Look to buy calls on down days, puts on up days; In the market and the underlying stock.

Today, on pull backs, I entered:

CAT, MA, WFT

Also entered PVTB, couldn't resist the setup.

Nice spike up in EXM. Anyone still in this one and/or TK?

Is it time for ISIL? Has the market forgotten the downgrade?

I hope so.

Brett and Chip, you two look like brothers, or maybe it's the camera angle and the black shirts...

Chip

At least Brett admitted it the first time..

his nomination is still good

Grant=)

I'm new to this, so those of you who are more experienced please forgive my ignorance....I'm just learning patterns. Is JBX flagging?

Strat,

Don't know about that, but he's a much better trader than I...he's gone Pro...

But I did stay at a Holiday Inn Express last night!

Grant, Okay, I have to give him that, at least he fessed up to it!

I've been taking in some X too...I just didn't want to admit it...guess I have a lot to learn!

Grant,

I think it might be too early to call this recent action a trend, but you can make out a trend reversal pattern of sorts.

What an interesting day. On a down day I made money...many are down but my one PUT LCC did me proud X, MLM and others made up for TSO, VIP, VLO and others that got pulled with the market. Oh and POT was good too. I slowed down and reviewed everything after Jeff told me the coaches were saying I was running my own mutual fund. That still makes me laugh, not Pam though.
Grant, kick boxing!!! Your X better be Liz then.

Thanks Jeff

Chip
The big question is on POT. Did he Inhale?


Great job today guys

Bob, I'm serious she beats me!=)

Grant

Anonymous,
Now you've opened a Pandora's Box (I guess Pandora's middle name must be "Jack?") JBX is one of Jeff's favourite places to eat, let alone the whole stock thing. I don't see a flag, per se, but I do see a good trend and it's coming back to support. A more experienced pattern trader (aka: Jeff, Brett) will, I'm sure, have more interesting comments.

Off to dinner, I must go. If we had a CMG I'd go there. It seems to need the help.

Grant, Isn't that always the question, inhale or not to inhale!

Chris, Where do you come up with these things...that was too good Pandora...JBX...

Jeff, if you were addressing JBX, I think that came from Anon Y Mous.

JBX is doing the same thing BA did right before it went ape $#!T. I love it and will add on the next breakout, just like the BA trade.

Bob and Brett,
You guys were right on GOOG. Glad I got back in. Okay. I had slippage and some commissions, but I took a nap and my account moved.
It was X and GOOG.

Bought a little AAPL and MLM and POT just keep giving and giving.

Randall and Michelle

Bob,
I agree with you that CME looks interesting. If it breaks through the 550/560 range, I'd say it is doing a head up again.

Michelle

Brett,
GOOG has zoomed up so much in the last few days, where do you have a stop? I am struggling with where to put mine.

Michelle

Hey all,

Thank you for the ideas on diversification. Jeff, your explaination is helpful.

Sue: I like the idea of VIX calls, I had not thought of that. I will be in Chicago for Adv. Options with Stacey Acevados, I am looking forward to it. E-mail me at ehaiss@comcast.net, and we can plan a rendevous.

Tim: I think you may have hit the nail on the head with giving these things more room to move. I may be buying too much and therefore limiting my stop too much. Like PFCB, and BLG, both stopped my out, but are still in down trends to me.

Kas: I like the Forex idea. I assume FXE may be a good play?

Joel: I also like the idea of OTM puts on DIA.

I feel like I have good diversification in my call's as I won't buy more than 2 positions in the same sector. But I do need to add some bearish protection, and today is proof of that!

On the other hand, I would still have made more money on calls during the past week to more than offset my losses today.

Can someone make up my mind for me???

Strat,

I'm still in TK, looking for it to continue it updraft.

Now I just wish I could exit some of my winners so I can enter more!

But as Jeff's words continually resound in between my ears, I'm letting my winners run!

FORGIVE ME IF THIS IS COMPLETELY OUT OF CONTEXT......i am taking a few minutes to eat a late lunch and read the rest of last nights posts to the blog (so i haven't read anything posted recently)
BUT.......I must tell you what i heard on the radio this morning......they were having people call in and tell about FIGHTS that happen over text messaging and emails b/c the wrong tone was assumed by the person recieving the messages.....there was a few relationships that almost came to an end over misinterpretation of tone.....SO, I hope everyone is happy again and if they are not can we all just get along, this blog is a great place for like minded people to share ideas (and occas tell jokes and poke fun at each other)......like i said, sorry if this is out of context (i actually hope it is)
BE GOOD TO YOURSELVES AND EACH OTHER (isn't that what jerry springer says??)

And if you want to pick on someone....i tripped over the air at work today !!!! DUH !!! very very gracefull !!!

For a bearish play what about MBI? It broke down from a symmetrical triangle today with a potential target of 8-10 dollars.

Tonya,

Interesting timing for what you heard on the radio this morning.... funny that you're quoting Jerry Springer....he's such a nerd!

I just wanted to say, I always enjoy your posts - you have such a kind way about you.

Did I hear something about a party on a boat on Friday? You'll watch the space shuttle launch from there? Too cool!

J

Tonya,

It seems that all is well at OptionAddict Central...

And things appear to be back to its 'regular' blissful state of Chaos and fun!

Jeff, recently called us all a "Family" and what family doesn't have its growing pains and spats...we're just learning to play nice in the sandbox together!

Now if Bob Raimo comes up with poetry to go with that, I think I'll run and hide! Just kidding Bob!

hey eric

i tried to email you but it just keeps coming back as undeliverable,,email me
spgrlg@yahoo.com

sue

Jeff, nice hair extensions. ; )

______WOAH DUDE!!!_________

Jeff, those eyes look like a serious hangover I had once! Man... a little POT will fix that.

Eric... no one can make up your mind for you!!! One of the things this blog has taught me (besides the million other things) is that Rule #1 is that you have to make your own rules. And you have to follow them. And when you break them?... See rule #1. It's just like when I became a Captain at Air Canada. I was told that Rule #1 is that the Captain is always right. When the Captain is wrong... see Rule #1. You are the Captain of your own ship, my friend. Act the part. Write your rules down and before you press that "Trade" button (EVERY TIME!!) re-read your rules and ask yourself "am I being true to my rules? Am I running the ship, or is the ship running me?"

Grant,
I feel your pain, brother. At least if Catherine took kick boxing we could abandon the bag of hammers. Perhaps an "Optionally Addicted Beaten Husbands Anonymous" club or something. We'll leave the whole X thing out of it as it couldn't lead to a happy place. Remember the best offence is a good defence. That's how I trade, too.

Chris,

Now I know why I understand you...!

I'm in the Air Force and my wife flies for Lufthansa...

Now I have to figure out if this is a good thing that I understand you or not! Hmmmm... I am at least sympathetic...

I'm curious, do the Captain Rules work with Catherine...or is it the other way around?! :-)

Chip,
You should know better than to ask. Being the Captain of an A320 is child's play compared to duties performed at home. The Captain rules at home are "The Captain is always wrong. If the Captain appears to be right, you don't understand the situation."

As they say on Mythbusters... I reject your reality and supstitute a reality of my own.

Chris,

You know...those are the same rules at my house...I think it's a conspiracy with the wives! Or maybe it's just in their genes or jeans (with hammers) or both.

There once was a fellow named Kohler,
who wore shorts and was quite a good bowler,
His blog taught quite a lot,
and now Crash (his small tot)
counts his cash while he plays in his stroller.

Chip,
If you're wife's in "civilian" work the military wins, man. Weild that big stick (shock and awe? I think it means "what are you doing here and how do you think it's going to help?")

Let's go with the conspiracy thing. Genetics can be altered and we know the Captain rules of the House will NEVER be altered.

Are you reserves or full time? Stay the course and thanks for all you do, brother.

Thank you. I'm full-time for the moment, although will be done later this Summer...then I'll be a civilian too...I can't wait! I wonder if the rules will change then...hmmm...probably not.

Unfortunately being in the military has no impact on the 'rules of engagement' at home...I and many others have been on that battleground to no avail...the 'shemales' are a tough lot and not worth losing too many times to...it gets too dang expensive...and I have to keep money to trade with, dag-nabit!

Love the blog, just got into options trading after taking over my portfolio two months ago and am currently up 85%, I honestly don't get why others don't do options but oh well.

I know I have a lot to learn so I joined the community to hopefully get ideas and learn from more experienced traders.

My current best option picks right now are AAPL, currently holding some july 130 calls and looking to add possibly tomorrow if we break decently over 123. GOOG, sold out of my 470 july call, likely will get into some 520 july calls, more than one contract this time since it broke resistance on good volume and I think people are going to realize they will be printing money by monetizing youtube and myspace ads. I diversified two days ago and the only options I was up on today were my two favorites, AAPL and GOOG, part of me wants to pile in but that would be foolish.

Loved the podcast, looking forward to discussions and making money!

Ben

Thanks to everybody for the trading phsycology, poetry,and diversivication talk.

I can testify a little diversification goes a long way.