Delayed Inspiration

If you haven't noticed, I haven't posted today. Here is what I am thinking, and let me know if I am off base, but I figured I would create a few videos this evening that cover this weeks watchlist. Summer months are typically slow for Bloggers looking for cutting edge excitement. I resorted to blogging about Transformers and Harry Potter last week. That's how slow it is.

I will mention that if you received the GSF gift this morning, accept it. Don't rebuke it. When things like this happen that are not expected, don't feel bad about taking the gift. Especially if you are drawing a blank about what has happened, what will happen, or what you are supposed to do from here. I am up to my neck in e-mails from the masses asking me "what am I supposed to do now?" If you have sent an e-mail about this, I must caution you about my 3 day minimum response time to these time sensitive questions. This forces the trader to make a decision that they will likely learn a great deal from. It's for their own good!

Check back tonight for some new releases, and some unbelievable trades.

Recommendation: Come back later

Long: Jeff's watchlist

Short: Everything else


Nice breakout on MTL

Stephen, I've been eyeing TGT as well. Actually took a trade on it last week but it kept going down past my "support" so i had to exit. I would like to see it find a bottom before I buy again, though it has typically shot up in one day causing me to miss the trade.

I entered JOYG and TSL today and added to MSM. Exited SII before earnings for a 100+% profit. Hooray! I'm sure it will explode higher on earnings but I wasn't positioned for it.

POT is at diagonal support. Up almost 3% after hours. Could be indicative of good earnings coming up or a good couple of days before earnings.

Jon P.
OC, Oregon

What type of fills have you all been getting on some of these lower volume stocks with 40+ cent spreads, e.g., MSM, TSL? Have you been getting filled in between or just paying the ask? I've not had luck getting filled in between and 40 cents seems a bit much to give up on both side if you need to exit.

Andrew, my TSL trade was in stock so I didn't have to deal with the wide spreads. On MSM, the spread on my option is at 30 cents, which is pushing it for me, but I just factor it into my risk. I put the order in at 10 cents above the bid and I did get filled, but that may have been due to some price fluctuation. I usually just find a price where I'm comfortable with the risk and give it a try.

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Wow ! Tough Love at it's finest. Wish I took the GSF Trade, too late to the party. Watched CNBC this morning and knew some people would be smiling in their cherrios.

I re-evaluated how much I had in play early last week. I swung out of some trend trades that had earnings coming up and caught the top of POT and PCP. Thanks for everyone's help. We have had a great month so far.

Thanks for TSL today I was looking for a reason to get back in.

tom d

Happy Monday,

Just a quick note to the folks that complained about my freaky bug-eyed baby picture. I've gone ahead and changed it. Let me know if you have any more issues.

I'll try and get something a little more current up later.


No way Feeder!!

I loved that pic...

BF, is that baby signaling the Jersey State Bird?

If so, much better than the bug eyes!

First of all, I am so glad to see Brett received his package. THis is a big day!

Thanks for ATW and thanks for the White Mocha Monday too!

GRMN refuses to close below 79.65ish but there is a lot going on in the world of GPS. I have to hold until a close below my line.

PFCB - Thoughts on the price action? Has it decided to dive yet?

MSM is set up nicely but the option prices are edging up. Does the market maker know something?


Nice call on HLYS down another leg today!


I love MTL. Made a boatload of $$ on that one (well, for me anyway) riding the last dip to the recent high. Looking to do it again.

Arty - GRMN making a nice stand here, doji today right at this little support area.

HLYS was on my list of PUT plays and I missed it today! I will wait for a retest at $25 and jump in with both feet.

Option addicts a quick stock question. In looking into HOV (Jeff's Marketcast watch list tonight) I am thinking shorting the stock would be better in this instance than buying a put. The reason for this is low price. What happens if the company goes bankrupt, does the market maker have to still pay up?

Any thoughts would be greatly appreciated.


I have been trying to post all day but this ________ (fill in the blank) wireless card has been so slow or just plain down. I did not know Jeff had a three day rule. For the FIRST time I was in a gapper (is that a word?). Yep you guessed it I traded GSF! Only had two contracts so sold one this morning held the other. SNHY unfortunately, zeroed out those gains today as it stopped out while I was on the road. Over 2/3 of my nice fat profit gone. It is amazing how it can take weeks to get the gain and then poof in 30 minutes gone.
Well, I will reading and trying to post when this computer allows it.

Those of you that know TOL, the company and the brother owners, know that zero will probably not happen. High end new houses are still doing ok they tell me here is SoCal and elsewhere. The public homebuilders are getting hit the hardest mainly because of wall street forcing them to make bad business decisions for share pricing. Keep in mind too that building permit numbers are mostly two years before building starts and are pretty misleading unless you know how they are defined.
Sorry this has been my industry for decades...


You got stopped out of SNHY? That's too bad. This is why i never use hard stops. the price recovered nicely to remain above the trendline. Consider getting back in.

Brett, do you think


is going breakout?
It looks like at least 43 to me.

I think CBEY already broke out and retested. All that's left is to continue the uptrend. Unless it doesn't.

Just curious, are you playing stock or options on the (lower trading volume stocks) that I've noticed you bring to our attention?
If options, do you have trouble with the spreads?



Brett thanks
it did retest support and seems to want to go higher, unless like you said it doesn't. I appreciate your opinion.

Brett, yes I did and I had a hard stop 2xATR as I have been traveling with the family. I did not even think to look at a new trade with SNHY! Thanks I will now, although I am really waiting for those great trades Jeff promised later tonight.
GRMN got me too today as I had tighten that stop because it was looking weak to me.

clean cups.... with VIDEO


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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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