Reminiscences of an Angry Trader

Is the market open today? I knew I shouldn't have gotten out of bed. First off, I am going to openly admit I was wrong about Apple. Yes, Amateur Hour.... I know. Apparently this is one of those products that will change the world forever. Kind of like the wheel.

Yes, I participated in the pre-run hype. Who wouldn't? But like a moron I ditched the stock pre-iPhone release. Leaving the stock was the same as shorting the stock. In fact, I even talked about not trading Apple again until it broke down, which I am fairly confident now that it will never happen. Bearish on Steve Jobs? I better e-mail him an apology.

If the phone continues to sell at this rate, and happens to control a significant percentage of the mobile phone market, this stock will rock the world. I'd go out on a limb and price it in the RIMM ballpark.

Want to know what else pisses me off?


This stock has kicked my trash 2 of the last 3 times I have traded it. You'd think I would take it personal, being such a proud personality type. Nope. In fact there are about a half a dozen stocks that I will never trade again based on the same type of results. FFH has now been added to this list. At least the stock isn't sitting at it's pre-open price. At this point I should kill myself by selling into the volatility wave. Leg into a spread? (totally kidding)

Now I am off to create my slides for the Chicago Conference.

Recommendation: Want to vent? Tell me about it.

Long: AAPL

Short: FFH

Jeff are you still bearish on casinos?

Jeff, thanks for this. For some reason reading your vent makes me feel better about my vents. Speaking of which WYNN and yes Pam was right on AAPL and we now sit on the sidelines...

Oh and Ramio thanks for the WYNN lines I see them perfectly and one was just like mine and the other was just a bit different. WYNN is right at it now and BSC?

I posted about the Capstone at the end of the previous thread...


Until WYNN closes above $93 with some conviction (volume), I'm still in it. I believe today's action is just knee jerk from the Hilton acquisition.

Joel R.

Thanks for the rant. It makes us mere mortals realize that even the Master can have a bad day and for a while there, I felt like the Master of Bad Days. Thanks to the blog, days like today are still winners, I'm still in AAPL, and I wasn't tempted to jump into the pool, with a hair dryer plugged in, and a pair of cement CROX on my feet. I feel much calmer now and it's nice to know that we all will have good days and we all will have bad days.

Let the good times roll!!!

Vent time - All my puts (WYNN, BSC, PAY, AIV)are going the wrong way, as are most of my calls and stocks. The only delight today is MTL which is following through Tuesday's action nicely with new all-time high and big volume.

It's the witching hour, buddy. Have a look at ALB and tell me what you see. In looking at the 9 month chart it looks to me like about $39.50 is support/resistance and about the same spot is what looks like diagonal resistance too. The stock has been slowly falling all day from it's initial spike, but it looks to me like it's going to close above $39.50 If it stays where it is, I'm out... and I'll find something more palettable.

I'm curious on your analysis.


Chris are you sure you didn't miss your calling for writing comedy? You make my day!

Hey I vented a whole day a couple of weeks ago. It's allowed. I looked at FFH, and my account triggered my stop and froze, so I wasn't allowed to do anything with FFH this a.m. If I had not had a stop (who knows why I did on this one) I could have taken less of a loss by getting out a little later in the day. Now it is only up 5 bucks. Oh, well, live and learn. Thank God I only had one put.
But CME and GOOG are making up for it. Some plays, you win, some you lose.

You are an inspiration to us. We all make mistakes, but you make better picks than anybody I've ever read or heard. Nobody can be right all the time. You are a GREAT trader. Hang in there. we love you.

Randall and Michelle

I had to finally let LCC go. It should hit 35 and bounce back down, but it just keeps climbing. I will re-evaluate it later, but....
KIM, took profits on some of my puts and kept two. It is right at my cut-off point. I'll watch it. It has been a great play, but my profits were eeking away.
I think I'll do some shopping for some new puts. The market is down today and my puts are up. Not a good sign.


Also had my bad day. I had both AAPL and MTN on my watch list. The signals came and I did not get in.
I shared the same thoughts as you did for AAPL.
Living and learning....
Love the cartoon!
Better days will come.

Where are you today?


If you're shopping for puts have a look at RTI. It's at a perfect entry point. It's either going down, or up. How's that for an ultra deep analysis? Ahem... what I mean is... it's right at support, I think. I've just picked up some Sept 75 puts up for $3.60 Good meal, good deal.

GRMN and DECK are having a fire lit under them in the final hours. Not a big move, but a reversal of what had been a down day for both of them. DECK's at a good entry point if anyone's looking.

AMX and PCU are also doing really nicely... not good entry points but worth keeping an eye on (If you're a spider and have eight friggin' eyes!!! Sheesh, there are so MANY stocks out here that are worth watching.)

Joel R., I am thinking as you are thinking but really do not like that WYNN action today.
Dohi Girl I know ACTUALLY what you are going. Surprisingly, my account is ok today and would be great without WYNN.
Chris, WOW you really go deep into the analysis. I like the stock and the setup though. How many monitors do you have anyway, 8?

I'm looking at JOSB for a bullish play. Right at support, strong stock, not exciting like AAPL or RIMM but a trender for sure. Anybody have any thoughts on this one?

JASO, liking this, up $12-13 in past month, at support for low risk entry

Waht do you think about the AAPL Oct $200. @ .50 ?

lots of activity today


I've just been lurking on and off today. I've been finishing up with last minute packing. Our plane leaves at 4pm so we'll be leaving for the airport in a few hours. This is the first time we will have traveled on an airplane with all three of them. Fun times for all!

I hope everybody has a great rest of the week. If I get a chance I'll check in here and there but it will be limited.

I think I'm going to go through withdrawals...

My one consolation... Grant and I get to meet Chris.

Take care everybody. I'll be blogging soon.


LEAP is breaking out

making a lower high, I am not in this but thinking about taking a bearish entry....low risk, it is at resistance

The only thing better than walking across the street to find that the iPhone JUST arrived is that when i returned to the cabana, my loss on the day became a gain!

Jeff, if you haven't played with this thing, i can only agree with your assessment. This product feels like the most important device in the world when it's in your hand. It's so cool and works so flawlessly.

Bob (and Pam) I'm thinking of changing my name to Dr. Chris. That way I can hang up a sign that says "The Analyst is In" or "The Analyst is Out (Way out)"

Brooke, you never know whether all that activity is sellers or buyers. There could be lots of people out there who firmly believe that AAPL will never EVER hit $200 by October so they are selling truckloads of calls. Or it could mean that Steve Jobs knows something and he's told all his friends and relatives that the icar is coming out in September and the stock will be a $1,000 stock at that time.

You pays your money and you takes your chances. Only $68 to go.

JOSB, one can argue that potential (unconfirmed) short term H & S is forming??

I like the entry point on DECK but Implied Volatility looks high.Any thoughts?

GOOG is hitting it's head on resistance!


A H&S is what popped in my mind as soon as I looked at the chart. Volume seems to be confirming that it may be developing. A break below 41.00 might be good for maybe a 4 point run....

Doji Girl,

JOSB has only moved 35% and 1.83 pts in 6 months. I don't know if this is reason enough not to buy it. Any thoughts?

You guys have fun. We had two on a plane, but not all three. Hope it goes well. That will be fun meeting Chris. He sounds wise and witty.


Ladd, you could be right on the H&S for JOSB. Let's see if this support holds.

Judy, I have DECK on my radar but I don't like the entry here. It's not near either of the 2 trend lines I've drawn. I'm waiting on that one.

So what's the verdict on WYNN? If I wasn't in it already and down so much, I'd probably enter here. But I am and I'm sorta at my max here...not sure if I should give it another day or bail now.

WYNN is rallying into the close. As much as I believe it's going back to $75, the chart's not giving me any support. At least POT and PCP are behaving. NUE is shaping up for a bearish entry. Keep your heads up addicts, holiday weeks are unpredictable.


Short: WYNN (not for long), AMR, KBH

Brett- I live behind the Orange Curtain (aka Orange County, CA). If you're in town for any length of time shoot me an e-mail -

Joel R.

Not sure what you mean about JOSB. The low, just in March was 29 and the stock is now at 42. That's 13 up points in 3 1/2 months.

Just got back from a motorcyle ride....

Okay,GOOG...not hitting it's head on is making higher highs and lows...

ALB..since it gapped right to a resistance line (connect the top of the candles on 4/18 and 5/23 and extend a trendline, it bounced right off that trendline. I am willing at this point to risk another say 50 cents to the upside to see if it continues down from here. were in this I think, what are your thoughts??

I only wish I had the larger position I have in MLM in AAPL. I expect it to go to 140. I am targeting CME to 570 and 550 for GOOG. PCU hit the century mark today. You know what the Market Wizards say: After they hit the 100 point, they are usually good for another 4 or 5 points.


Liz bring lots of snacks and entertainment, we learned the hard way. Have a blast and hope Chris treats you at least as good as we treated him here...well ummm maybe that would not be that good, scratch that.
WYNN is moving up again, who is buying this stuff and you better admit it as we will find out.
Hey, Joel I am on the edge of Orange County we should connect and hunt down those WYNN buyers!

Bob Raimo,
I tried playing ALB. I didn't like the way it was moving and got out. I am still watching my BSC.


WYNN right at a resistance area. I am not in the trade, but if I was, I would not bail out yet. If you got in on 6/19 or 6/20, your risk reward right now is still intact...

Doji Girl,

I went back 6 months, using Bottom Feeder's formula.

I remember Michelle..I think you got out on 6/22 and I told you I thought you were crazy!!!

Now look...

Open mouth, insert foot.....! OUCH..

You're right about IV on DECK. I got in a while ago when the IV was much lower. Doji Girl's right, the entry now would be a bit risky with the expensive options and it's not quite where I'd like to see it for a "Low Risk" entry. I think I'll probably hang on to it and let the IV build before earnings and sell into the IV.

Doji Girl, WYNN has been off my radar for a while, and looking at it today I'd say it looks like a pretty good entry. Especially when the bump up today is coming from some other buyout rumour. I'm surprised it's held up as well as it has today. Sort of reminds me of the X debacle a while back. Ii spiked on the rumour of a takeover but then fell back as the day progressed... before losing it all the next day (and then some) on the cancellation of the rumours.

I'm just a little worried that it's still above $92 but it would be an ideal low risk entry.

Just my nickle's worth.

I have made some doozy of mistakes in my short time trading. I think you call support and resistance and moves in stock than anybody (except Jeff) on the blog. I value your opinion. You helped me to pick up the pieces a few weeks ago when my account was falling apart -- and a lot of prayer.


MTN off to the races again. This is a good way to recoup some of those $100 lift tickets at Vail and the other resorts they own.

Joel R.

Doji Girl,
I subtracted the price 6 months ago from the current price and then divided by the price 6 months ago to get the total 6 month percentage increase. If it is greater than 77%, he considers this a fast mover. Then to get the average $ move per month, I subtracted the price 6 months ago from the current price and then divided it by 6. He likes it to be greater than $5. Sorry if this is confusing. He explained it much better on , I believe, Tuesday's post.

One thing I am noticing (give me your take) is that MLM seems to be lackluster the last week. It was full force ahead even when we had down days a couple of weeks ago. I am concerned about the lack of movement. It is not behaving like it was a while back. I watch it closely because I have had stock for a while.


BSC and PAY both close to my exits..but not enought yet for me to jump out..

Well, Judy, I never said this was a fast mover...kinda goes sideways for a couple of weeks, then pops up, lather rinse repeat. It is right at support right now which makes it a good low risk entry in case it does turn out to be a H&S like Ladd suggested.

That formula is...interesting. But it seems like a lot of work when you can look at a chart and see which the fast movers are.

I am with ya on BSC. I am tired of watching that silly thing move up and down and back up again. Maybe I'm not patient enough to play it. But is kind of an expensive put to be moving all over the board. I will give it tomorrow to see what happens. But it is getting up to the 145 mark I have as resistance.


MLM ..depends on when you got in Michelle..

It is still in a nice uptrend and really not acting out of it's trend and pattern. I'd look to $160 for some level of support, certainly support at $152ish..I missed the entry on this, but have it on my radar..

No, I'm not in the red or worried about it breaking support or anything, just noticing the lack of movement compared to two weeks before.


Hey, the DOW is up 75 cents. It's in the green..... rally!!! (Laughter.) Getting almost time to close for the day, five, four, three, two, one. Okay. I'm tired. My neighbors shot off fireworks all night and I didn't sleep well.

Sorry for the silly humor.


LOVE the wheel video!!!!!


Pack the Yuengling, call Chip, and meet me at stone mountain..LOL..

Don't give up on MLM just because it's levelling off a bit. Have a look at PCP. It did the same thing on June 20 so I got out thinking it needed a wee rest. It is now poking along nicely... again. I have it in my 401k and will be a millionaire in a few years because of it.

Or not.


Well, I had my finger on the button to ditch WYNN but at the last minute it started to back off. Slightly. So it lives to fight me another day. But it will be a short day if it doesn't seriously back off. (Remember Drew Barrymore in Firestarter? "BACK OFF!..."

Relax a little


take it down a notch....

I was gonna ask what you where referring to....but I guess I don't really care....

Bob, I was talking about Diagonal resistance on GOOG for your sake and other's I hope I'm wrong!

I think he was responding to Jeff's original post about the 2 stocks that were making him "angry" today.

What happened to AMAG? I had determined if if it bounced over my resistance line I was out today. So I tightened my stop and at the end of the day pulled it up and saw yep need to exit. Half my virtual profit was gone but still had a profit as I was trying to exit I could not get filled and finally did the old market order and closed out for a zero gain. This is just amazing to me that a trade that had a pretty good gain the day I exit goes back to zero before I can get out. This and WYNN made the day break even.

Doji Girl, I am with you on WYNN and it may be dueling buttons tomorrow.
Have to run to another meeting "see" you all tonight or tomorrow.

There still is no excuse for Phil's comment. I keep up with, and even occasionally post to this BLOG because it is an honest dialog on trading ideas, opportunities and tactics. Jeff has created something special here and we all are better for it.

Phil needs to grow up.

Bob & Pam I see diagonal resistance on AMAG as well so much for my diagonal resistance for now! Over & out...

Still in WYNN as well. KIM did the same thing a while back. Toying with our emotions. Look how that turned out. WYNN is not going to break trend now.

Cramer says buy APPL (today).
"" >

Hopefully the Cramer effect will be in force tomorrow.

Joel R.

Optionfanatic..i see, you were referring to todays daily it...

I don't pay much attention to that..I mean I watch it, but I am not day trading GOOG...But thanks!!!! Glad you got my back buddy!!


Thanks for the AAPL news bit from Cramer!!

Sam H...I would everyone on this blog.. Phil's contribution fell on blind eyes.....and speaks volumes of his integrtiy....

Integrty, integrity, integ...dang....LOL, I'll get it..


Re AMAG, I took profits on that last week when it ran into serious support issues at 57.50. And, if I remember correctly, I had a tough time exiting also. There was a huge spread 'tween bid and ask and I tried to finesse it unsuccessfully. That market maker is one tough SOB!

Raimo and the rest of the Addicts:

Thanks for the analysis and commentary on WYNN. I was "emotionally" ready to buy a put early this morning. Thank goodness I paid attention to this blog and waited. I still believe there may shortly be a good entry here, but I am happy to wait until tomorrow to find out.

I want to thank those who hold others accountable for their words to our community. We are a group with high standards and apprecitate those who speak up to keep this blog a place where everyone's eyes are welcome without being offended.

I think he was just the equivalent of a heckler. Response just encourages more ugliness.

Nobody likes that kind of language (I hope.)


Do not know when others entered this trade, I entered on 6-12 when it broke desc. tr. with volume around $62ish. The trend has not failed (if you are a trend trader), I am still in the trade and I think the stock is behaving normally. A move above $62 and I will exit

Of course, that is only my $.02

Did anyone take the JWN put trade today??

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When you wanna buy some put or call, do you check the fair price of the option vs the offer? If they're significantly different, would you still buy? Do you place only market orders? And do you take the greeks (delta, theta) into consideration?

I started out just buying options and hoping them to move in my direction a few points, based on my opinion about the stock price pattern of course. But I do think I need to know more than that.

Any thoughts? Thanks,

I actually shorted a call spread the morning of 7/3, and had the snot beat out of me in two half days. Ouch.

'Sometimes you eat the bar, sometimes the bar eats you.'

Is there no Market Cast? It's usually posted by now, 8:00 p.m.?
Anybody else having trouble?



Don't compare to the theo. value, since all options are priced higher than the t-val. I would prefer trading all limit orders versus market orders if I had to choose, and the greeks are not static, which means that they will change.

I hope that answers your questions.



Just kidding... I notified people about the issue... and we'll see how much it matters soon. I hope to see it up in 30 minues or so.


Hey everyone. What an exciting day in the markets today. Just kidding.

Wish I were in AAPL, but oh well. I did get to put my hands on an iPhone today. A guy in my office has one. The internet browsing experience is the most amazing thing to me. There is nothing else like it anywhere on a handheld device. Full web layouts that you can move around and zoom in and out of effortlessly. If nothing else, it is going to revolutionize that aspect of handheld computing.

Took a small bearish position in DNA to hold over earnings. We'll see how it goes.

Got to buy back the short leg of my spread on GRMN for $0.05. That's nice, but wish I had the full on directional play!

Still struggling with whether I'm a trender or a swinger. I want to be a trender but realized I've got a couple options expiring in a couple weeks. Seems to me at some point you have to swing if things are going to expire. Any thoughts there??

That's my update for today. See you guys tomorrow.

Tim, glad to "see" your comment for the day. I think swinger is in my future. Just got off the phone with the IT coach and I think I am stuck between swinger and trender and that is a BIG problem. He recommended that I exit half at the swing exit at least for now.
For some reason the CAST will not work as it is still on Tuesday but has the wrong time. Not sure what is up with that.


The Marketcast shows it's playing Thursday's session and has the title but is actually playing Tuesday's session over again.


Well, I really wish I had stuck to my original analysis on apple because it has been pretty much right every time, and I would be up nicely but instead I am only even on my account because I took more of a straddle over release. Oh well, there will be another play. And that play is earnings

I spent a few hours today doing an earnings estimate. If I am close to correct this kind of beat which is very logical and possible from the numbers could give us a RIMM type pop.

Disclaimer: I am no pro, but I did try and make these as logical as possible and take more conservative numbers and base them on past likely numbers and current research.

Apple Q3 earnings estimate

Previous 2006 Q3 notebook sales 986,000
Reported notebook growth compared to year ago, 65%

986,000 x 1.65=1,626,900

Average notebook cost 1,400
2277660000 x .3=683298000

Assuming 30% margin(previous margins) = .789 cents eps

Desktop sales

Previous 2006 Q3= 529,000

Assuming slight drop in desktop sales 500,000

Average cost 1,300

650,000,000 x 30% = 195,000,000 .225 cents eps

Iphone Q3 sales 500,000
Average price 580

290,000,000 revenue with 55% margin = .184 cents eps

Ipod Q3

Previous 2006 Q3 sales 8,111,000 which was 32% over 2005

Assuming a drop in growth year over year due to iphone lets say 25% growth

8,111,000 x 1.25 = 10,139,000

Average cost assumption 200 dollars

Supposed comments that margins on ipods are “above 20%”

Let’s assume only 20% margins

10,139,000x200= 2,027,800,000

=.468 cents eps

Other music related revenue assumptions
Previous year Q3 457,000,000
Q3 2007 500,000,000

Software, service and other sales

Margins unknown

Total available EPS 1.66(pretty much irrelevant but just added it up)
Total Revenue Estimate


6,331,460,00 x .146=924,393,160

924.39316/864.95= 1.06 EPS


The 'Cast' is now playing Thursday.

any one in RATE ???
looks like we got a "gift" from above in the after market trading.....up over 13 bucks!!! absolutely fabulous !!

Asymmetrical Tri. on JEC,

Expect about a 5 point move to the upside, wait for volume confirmation.

Ladd, I couldn’t agree with you more about the AMAG descending triangle break. I got in on 6/14 and feel that this current pullback is normal. I think that some people use the diagonal resistance line on descending triangles as a resistance line after the break and close if the stock violates that line. The last time I did that I lost out on one of the biggest one week breakdowns in the past month in PVTB. I sold on the one day pop the day before the drop began. I concluded from this that if it is a pattern break that I am following, then I will see the pattern out until success or failure, a close above resistance of $62 is failure in AMAG’s case. If I am entering a down trending stock on a bounce, I will use the trend resistance line as my line in the sand. I guess it all depends on why each of us are entering the trade.

Jeff/others, what are your thoughts on this?

Tonya, unfortunate for me if the $13 after hours boost ends up being real in the AM. I know that some breakouts this week, the volume won’t be there. I wasn’t crazy about RATE’s and decided to wait and see how it opens up… Good for you and anyone else in RATE.

I had two 100% unrealized gainers slip away today. One I exited for a small loss, LCC. This was at 100% on 6/18. So much for patience on that one. The other, I expect to make a full recovery, NVTL. It was down BIG at one point today before recouping a bit, the volume was excessive. I held because I have been in this in a few different trades since the beginning of March and this has happened before. I haven’t been able to find any news that would have triggered this so it is business as usual. If it closes outside my trend line, which it is camped out on, I move on.

I’m off to take a nap now.

Hello OA's from Cappenhagen. I am going to the Stock Exchange this morning.

I would short it if I were you. Fun to check in from abroad.

I will send a picture to Jeff when the right one comes around.


Hey Arty,
There's a great sports bar in Copenhaagen... but I can't remember it's name. It's owned by a guy from Winnipeg who used to play hockey over there. It's really cool, as there's a lazy suzan (sorry Sue) in the middle of the table that has (of all things) Beer spigots in the middle. You rotate Suzie around, pick the beer you want, stick the glass under it, and pour!!! If you tell him you work for Air Canada he'll treat you like family (not Bob and Pam's family... who they treat like dirt when they visit Los Angeles!!! Just because they dress funny...)

Ben... thanks for the analysis on AAPL. I'll have to pass the "Dr." prefix over to you. You beat my analysis all to heck. I look at the chart, look at how expensive options are, buy. And that's my "In-depth Analysis."

Looks like I'm going to wish I'd been in RATE. Oh well, I'll take my AAPL shares and go curl up with a good book. "How to become a millionaire on someone elses shoulders.... without even trying."


What happened to the link to the wheel video??

I made it on the floor of the Stock Exchange with a Tuborg in my hand o less. I will look for the sports bar as a place to go tonight.

There is a lot of talk over here about who is going to get the I phone contract. I do not know if it will be a good play or not, but it is huge talk.

Miss youall

Haha, I don't know if the analysis is that good, we'll see. One change though is actually included iphone revenue when the more I read I found out they will pretty much defer all revenue till later, so taking all of that out you get 1.02 EPS.

Your analysis is likely just fine and possibly better with less work. I wanted to see if I could maybe make a good assessment for possible future analysis on stocks.

Hey, Arty,
Give us more details about the feel of the place and what you see.

How exciting.


Arty, you are making me (Bob) long for travel again. We have done none this year with no plans to. Have not been there so would love to hear about it as you travel.
Hey Chris, for us dirt is really expensive so for Southern CAL folks to treat you like dirt is like royalty.

Hey C2..

did you hang on to ALB..heading in the right direction far anyway...

Jeff, I'd like to take you up on your offer to vent a little. Here goes:

SKX: Sluggish Rubbish
FST: Lead-footed Garbage
PAAS: Nonsensical Poppycock
This Market: Six and a Half Hour Squanderer

Good day to you sir.


Were you 2 the ones that told me you once lived in S. America for a period of time? I am flying to either Honduras or Guatemala the first of September and the plan is to waddle my way down to Montiviedo, Uruguay. Ill plop myself down there for a month and then back home. If you dont mind, can I ask you a few questions?


Anyone else noticing the sluggishness of MLM? When the market was having trouble a couple of weeks ago and everything else was tanking, it was steadily climbing. It has been down to sideways lately. Is it playing out? I have stock and options. Maybe I should scale down a bit on this position.

P.S. Open to some good put ideas. I have sold all but KIM and BSC. Cut my losers and starting fresh. Also open to some good bounce or breakout plays.


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I took a trade on CAT, the Nov 70 calls. CAT had a nice move after earnings in April. Trended nicely and had a nice breakout on 5/30. The middle of the 5/30 candle acted as support as it flagged. It broke out on 6/13 made and another move higher. It now has retraced all the way back to 77. Tons of horizontal support for a low risk entry. Earnings are 7/19 and I think it will trend higher into earnings.


I'd like to vent but what do I say
I get irritated looking at the chart of PAY?
MLM one sixty I see
then I may take a trade on thee
Then there's my nemisis BSC
Patience we need I think you agree
C2 do you see what I see
Heading lower is ALB
Setting up nicely the hotel WYNN
when it turns down I am jumping in
Heading lower did David buy?
I like his choice of ATI...

Looked over financials on WYNN I reversed my trade to a long position. Any comments appreciated on that positioning!


Excellent Prose! I'll drink to that, especially in what this market looks to be shaping up to today!

I'm at work, so that will have to wait till later, in the meantime thanks for the verbal pick-me-up!

How about FMX continuation triangle about to explode

Also did anyone take PBR?


I do not counter trend trade. WYNN at resistance.... I am waiting to short it...I think going long is a mistake..


Thanks for FMX....looks like a slinky coiled up and ready to make a mess of things..

WYNN is still making lower highs and lower lows

Bob , appreciate the comment, I,m not trying to buck the system, I,m going to move fast if I,m wrong. Thanks!

I like your analysis of CAT. Wondering why you chose November 70s though.

ALso NOV breaking out

OII great move today coming out to play.

I wish I would have stayed with MICC

Some trading ideas for today...not all are actionable yet, but this might bolster your radar for next week too. Many are cup and handles, which are my favorite pattern to trade.

ICE...depending on how you define a cup and handle breakout, today could be it. Huge target. Earnings not until august.

BID...if you missed the triangle breakout and successful retest, it's setting up for a potential cup with what would be a $7 target or so.

CERN...if you missed the triangle breakout/trendline bounce, it's flagging here.

CLF...great bounce and could set up for a huge cup with a $15 move expected.

EXM...broke out of a triangle and is flagging here.

GSOL...not optionable, but flagging here with a 20% move expected.

JOYG...coiling up here. Back out and view the big picture and you'll see a potential monster in the making.

SGY...inverse head and shoulders with huge target. Nice retest yesterday.

TRLG...broke out and retested. Heading higher for sure. Also i'm convinced it's getting bought out.

VIP...the stock that refuses to obey normal technical analysis anymore has formed a nice cup.

WTS...forgot about this one, did you? Symmetrical triangle breakout, perfect retest and heading higher. Nice target. of my favorites is setting up for a potential ascending triangle. Also going to be bought out, in my opinion.

*Disclaimer: I always say a stock is getting bought out. It's kind of my thing.

I'll learn to use the right key for the "apostrophe"

Thanks for the great list! Some I already own, some are already on my hit list but there were a few tasty morsels I've never looked at before.

Haven't had time to look at your list, yet. Thanks.

Whoever mentioned ATI up there, looks like a good put. I will wait til end of day to make decision.

Thanks Bob, for the poem.
BSC finally doing its thing and moving down from 145.


Do we have a week and a half on July options? Unfortunately I bought July on BSC and will have to do something with that one soon.


If ATI goes down it was me, if it goes up it was bob, it if it stays sideways it was Jeff. If they move to Canada it was ERIC

Too funny.


Stephen, nope that was not us. Sounds fun though.
Doji Girl - Did I beat you to push the button on WYNN. It waved good bye to me this morning...
Everything else is doing ok but MLM, there is always at least one in the bunch!

Bob R... I dumped ALB yesterday. It closed too far above my line in the sand. Looking at it today, I should maybe have used a wider piece of chalk for my line. It could be a perfect entry point for anyone looking for a put should have a look. Me?... I'm sufficiently pissed off at it that I will cut off my nose to spite my face. OFF WITH IT'S HEAD!!!

I'm sitting with some cash and think that I might just leave it like that for a while.

PCU, GRMN, and DECK are leading the charge today for me with only CTV and PAY down (and only $.05 each.) Hope this day continues.

Brett, thanks for the list. I love the cups and handles.

Catherine's home today so I'll be busy doing work around the house (I always sit at the computer when she's at work and tell her all the things I "did") Less time to talk.

Good finish to the week, so far.

I don't want to steer anyone away from ATI, but if you move a few letters down the alphabet to RTI, you might see a cleaner pattern in the same industry.

MMM might be finally popping above resistance. doesnt look like it has the volume but keeping an eye on it

long island ny

Doji Girl, I am really working on bringing the volatility down in my portfolio. I ran thru some scenarios on the Black Scholes calc with the OTM and felt more comfortable going ITM.

I think the ultimate trend will be new highs on the S&P....but there are a few things going on right now.
1. Low volume
2. what is the market direction ? It could be channelling for a period.
3. I don't like the swings in my portfolio in this channel between the 1490 lows and the 1530ish highs.
Therefore I have been going more in the money. When we break out over 1540 then I'll take another look.


Thanks Brett for the ideas.
I was going to enter ICE yesterday and somehow lost track of time figuring out which option to buy

Jeff K, I was on the Deck at the Trump Marina in A.C listening to a band last night. I was a bit chilly and I was thinking about a nice warm OA sweatshirt....XL will be nice.


C2, do you trade SU ?....a nice Canadian company. With OIL here the thing has to go to $100 right ?


MLM can't make its mind if it's waking up or not today. It's made a good comeback so far, let's see where this puppy ends up for the day!!!

SBUX, good (re)entry for this (2 year) Double-top down to 23 - 24.

Michelle and Chip, venting about MLM seemed to work today...that is a first! As I write this though it droped $0.50

Thanks, Brett. I will check that one out as well. Doing lunch for the kids and baths. Hope to stop and look at these stocks.



We could do a play-by-play on MLM, although if we did that, this blog page would be about a mile long just for that.'s up $0.12...Whoo Hoo! Yeah right!!!

Anyone long TGT today? If so, congratulations. What caused this?

BTW new thread

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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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