So much to tackle... so little time.
Let's start with a couple of photos & videos that wandered into my path over the last week or so. Take a look at a couple of our addicts...

Here is a picture of Jerry aka "fifthclmn." He is the guy that posed for my mug shot in the upper right hand corner of my site (The Dude). What a lovely piece of machinery he is posing in front of. Too bad he is taking this photo in his neighbors driveway... just kidding Jerry, thanks for the photo.

Next up we have a picture of John Logan. All 5'5" of him. You wouldn't really notice, but he happens to be standing next to the 7 footer, which is his cousin. John, ask if he'd be willing to play for the OA basketball team this winter.

Finally I have a video that Doji Girl sent in. Here she is banging her Taiko drums. She is the blonde between the brunettes.

Doji Girl, Amber and I are coming out this winter to take lessons. Hope I can crash at your place, although I require a California King size bed :)

Well, it is Friday the 13th...again. Whooptie doo. I don't see much in the market worth talking about... but if you turn on your tv you can watch CNBC talk about the retail meltdown, why the market will go down, or more horrible investment ideas to add to your portfolio.

So instead of regurgitating financial news today, let's play a game.
Would you trade this set-up?

I don't know if i should or not... I think that is my problem :-)

It will be interesting to see your follow up and how you would play it. I like this game, I want to play it more.

Speaking of "would you trade it", what happened to your Master Talk last night? I checked the recordings and found the second string squad had been put in to play.

BTW, if I were following this stock I'd have bought a few days earlier on the bounce but what the heck, if it's a yes or no on the only stock available to trade, I'll say Yes.

I voted, but i have to say there's plenty of air under this one. I'd like to see some kind of consolidation or at least a successful retest of the prior high. Otherwise, it's a long way down to the trendline. There's a lot of "yes" answers here, which i think is probably typical of a runaway bull market.

If you missed the CLF bounce (and you shouldn't have), it's setting up for a potential cup. I think the prior high of $90 is inevitable at least.

Jeff, it's got 3 green arrows!!

Not a chance. It looks a long way from support. It's nearing the top of the channel. Let it retrace and buy in on the bounce.

Joel R.

I would buy on the dip or after consolidation. I would have been more interested in this trade three or four days ago.

DG...AWESOME! Thanks for sharing. It looked like you were having a great time.

yes, yes, yes.....i have access to a computer today......

does anybody have a thought on ICE ??? i see cup&handle breakout 2 days ago (or maybe yesterday, depending on how you look at it) a 20-25 point target in approx 6 months.....looks like it is retesting today ......

I would have entered on the bull flag, not the later break. but if I have to enter on the break , it would be no, wait for the retest.

It's overextended. If it pulls back, I would definitely consider it.


Thanks, Amy!

Jeff, you are welcome to my home anytime but I hve no Cal King. I'll give up my bed for you & Amber but you'd have to sleep on the diagonal.

Re your game, I voted 'other' because while I think the stock is a great trender, it's a bad entry.


That was me from the Portland area. When you move here you'll have to join our Rose City IT group. We meet twice a month.

See my post from last thread.

I'm in JEC. It made my target today - $5 on AT break. It was a swing trade for me, don't think I want to stay for earnings; although company looks strong. Lots of new contracts too. But I'll likely exit on my target today.

ICE looks good. I got in yesterday, its back to where I bought it. How about some POT...looking sweet today..

Doji Girl I say it everytime, but again... That is Amazing!! I love that stuff. It must take so much hard work to learn that. Keep it up!

Jerry, Nice ride!


Thanks! It's a lot of practice and discipline and timing is crucial. Kinda like trading, huh?

Sweet wheels. And Doji Girl. That looks like great fun!! You are really rocking out!!

And again, you know who, I am sorry about yesterday and I feel like a real jerk. I am a living stereotype of a Manhattanite. I think I should move to back to Canada.

WNR on fire. POT broke out of ascending triangle.


Smoking POT... or is that POT is smoking?

It looks as if I will be exiting most of my bearish positions today unless something drastic happens. I might have to resort to POT for downside protection…

Just got back in from a Motorcycle ride to the Yuengling bar...

Beth Ann...See my post yesterday about trading full time.

Bob (and pam)...yeah, Chip and you guys enticing me to Germany...h,mmm, how can one pass that down??

Jamie....Bring Yuengling and come during the RUT!! You got yuengling, I got deer, LOL..

WOW, what a day!! Look at RIMM, AAPL, GOOG!!! I am even happy with BSC these past two days...well, maybe not, but all in all....

Bring up the 5yr on IP...

I'm sitting on the DECK, smoking POT, thinking about a SWIM. My CAT is in heaven, and I'm thinking that I may cut my vacation in RIO a little short.

Hee hee hee... it's mid-afternoon, and I'm bored. My trades are going well, and so I'm trying to catch up on some reading...

I voted yes. while not a significant double bottom, it does hit the area twice and bounce off of it, with increasing volume every day. The macd's and sto are showing momentum, and this one looks like a legitamate double bottom, resistance breakout. My stop is just below resistance, maybe a penny below the close of yesterday.

DJ, that drumming looked like a lot of fun. One of the members of my group has a drumming group, and I may just have to see if there's an opening! Thanks for sharing your photo!


Very impressive on those drums Doji Girl!


Back in May i presented RATE as a long-term symmetrical triangle breakout with a target in the $70's. Anyone take the trade and still holding it here? This is a phenomenal breakout on great volume. In fact, the volume has been great the last 2 days.

Also, RATE is a potential takeover candidate according to that old, bald guy on CNBC with the goatee and the hysterical demeanor.

Darn it, I knew I should have bought some BIDU this morning. I was busy cleaning house, and it made its move today. Glad I bought some RIMM. Nice move today.


Someone asked about GOOG earlier (other thread), and yesterday I just had a "feeling" and bought an August Strangle 500/590. With the move today, I sold a July 510 to add a little theta to the ol' account, and if it continues to move up, I'll go ahead and sell it again after earnings next week.

And funny, JJ from TOS recommended a volatility straddle on GOOG for next week (on CNBC this AM) to ride up until earnings...

Ah, great minds think alike...


Why aren't you complaining about ZOLT today?


I just saw story on Bloomberg which I find very interesting. Iran has asked, effectively immediately that all oil purchases by Japan be paid for in YEN. I am an old bond guy, and this is one thing that has me worried.

Moving away from oil purchases in dollars could weaken the dollar further. Eventually it causes a spike in rates as the demand for dollars drops. I am not a CNBC guy. The crap that is on there is too little too late. BUT, there is always one story or some event which happens before it hits the news which de-rails a market.

I am bullish and trading that way. This is kind of a macro event. Maybe discuss it with Eric Utley and see if it is topical I guess. I am not sure what I am asking. But a constant erosion of the dollar eventually has an effect.


I've never had any luck with H&S formations, but does BUD look like one?


Doji Girl you kick a$$. That was seriously cool, I love it. You should be on America's Got Talent.


Speaking of taking a SWIM, anybody want to venture a guess as to why the stock, which normally just goes down, has taken off like the shuttle yesterday and today with big volume? Buyout coming Mr. Kohler?

regarding the chart game
i hate to say it but i would like a little more data,,first,,this is only a 6month chart,,i see the price going up thru resistance on increasing volume,,,but is this area prior resistance not on the chart. it did close off the highs so i would wait to see what the next day brings,,if it is down mildly on decreased volume,,it would be a buy,,,if it cont to go up on decent volume is is also a buy,,,is it drifts up on decreasing volume this indicates low demand and not a true buy.


New all-time highs in SPX. Is this what they call a climax run?
Or is it time to ditch BSC & KIM?
Also, AIV just took back the last of my profits on it.

Check out the ten year on the S&P

A little more volume and we could have a breakout on BID...if you aren't in it already.

SWIM released their Metrics yesterday... must have been good. you might check out their news on the website...

If KIM goes a few cents higher, it will be making a higher high and higher low. it's got less than an hour to turn around or it's history.

Anybody agree with this assessment? Anybody else in this trade?

DG--I was just wondering the same thing about KIM. Anybody thinking of taking their profits today?? I've got some resistance drawn around $40 on the 1 year chart, but was kicking around whether I wanted to take them off the table or wait and see if it's going to bounce down.... I've given back more than I would like, unrealized of course, over the last few days... Anybody else have any thoughts?


Not in KIM but I see it forming a bear flag with resistance at $41...

Dont know when you got in, hope this helps..

anybody played AXE?

Str is breaking ou, albeit low volume, low risk right now.


Doji Girl,

That was an incredible video. What is the background of Taiko Drumming? What is it about? You really seem to put your heart and soul into it. It seems like you are dancing with the drums. Truly inspiring.


Doji G. I second everyones comments!! Sweet Vid. Good to get to know fellow bloggers.

So now its official break out on the DOW!

I (re)entered KIM at what I thought was the bear flag breakout a few days ago at that big bearish candle. It's gone up ever since. I determined that 40 was my line i the sand and that's exactly where it is now. The volume is low (good) but would hate to hold over the weekend only to see it gap up Monday morning.

Taiko drumming is an ancient Japanese style of drumming, originally used to arouse troops to battle and to frighten the enemy. It is almost like a Martial Art. If you google taiko you will find more than you want to know about Taiko. I first got interested after seeing this group perform about years ago and in my typical "I can do that" attitude, decided to study with them with the goal of playing onstage with the group. Took me 3 years to get there.

And now back to your regularly scheduled rally!


I see what you see DG, though I don't look at your entry as a flag breakout. Using the channel tool (which is what I sue to help figure out flags in the early stages), run the upper line across the top of the candle on 6/22 to the top of the candle on 7/5. then bring the lower line to the bottom of the candle on 6/27....That is how I drew it. Drawn that way, your price today is almost at the top of the upper flag line, and I have a HZ resis line at $41, though $40 COULD be resis...

With the market run up and a pullback coming??, not sure if I would exit.Not such a big move for this stock the last two days...a sign of weakeness??

I don't want to influence you, just offering my perspective..

Doji Girl, you ROCK!!!!! That is a truly inspiring video. And I love the guy with the backwards baseball cap... he looks like he's guilty of something. If we put some stripes on him he could star in the movie version of "The Angry Trader: The Later Years."

Today I'm seeing some consolidation after an unbelieveable day yesterday. I'm still up, but quite modestly (much like my personality.) DECK is at a great entry point for anyone interested, and DRYS and CTV have given some back, although neither of them are at entry points. I just can't believe the number of great trades that are out there. Congrats to everyone for picking them out. I have absolutely nothing to sell right now (although a bad entry on RTI has me near my 1% but it's just sitting on support.)

Brett, point taken on ZOLT. Now if only my Sep $35 call would trade, someone would show me the money.

Michelle, I'd let BIDU consolidate before buying into it. It's ripe for some consolidation. This is where I used to fail. Bad entries. You've got to enter near your "I'm outta here" point. There's tons of good entries out there right now. You can do better, girl.

Loretta. Thanks for the offer. We're just looking for something near the Rose Theater... don't really care if it's 3 - 5 star. We need two queen beds... I'll just check on the internet. But the fact that you guys have a Rose City IT group has my interest really piqued. We're there on the 26th, 27th and leave on the 28th. I don't suppose you guys would be meeting on any of those days, huh?

PCU and GRMN are still racing heavenwards. The puts are treading water. The Universe is unfolding as it should.

Are you still in BSC? It has crossed above my diagonal R but is still below hor.R. What say you?

Look at 5-year chart for BCSI breakout. Next resistance @ $65.

John A.

I love your technique, dude. You said (and I quote) "Using the cahnnel tool (which is what I sue to help figure out flags in the early stages)"... THAT'S BRILLIANT!!! If you sue the channel tool... if it turns out to be wrong, the money you lose in the trade, you make back in the law suit!!! It's like a strangle, only without the need for sensless violence.

You are, as always, one step ahead of the rest of us.

Did anybody take my recommendation on ACM yesterday?

up 3.5 %


FCX has earnings on Monday, but the IV has dropped dramatically while the stock has skyrocketed over the last week. Does that mean the market is expecting the earnings to be a non-event (right in line with expectations, neither positive or negative)?

Either way, I'm taking half my position off the table with a 93% profit.

I know some addicts have not had a great week. I've been there when the DOW makes a big move up and my portfolio goes down. Hang in there, be consistent, be patient, follow your rules and adjust them as necessary.

It finally all came together for me and I have had my best week trading. I'm in 12 trades and I'm up over 50% across these trades. It has wiped out the losses for the year and put me solidly in the black.

Thanks Jeff, IT, and all the addicts who take the time to come here and share their stories, wins and losses.

Have a great weekend everyone!


Short: Hombebuilders (KBH, LEN) even with todays rally, AMR

Joel R.

Be careful picking accomodations. The downtown area is nice. Not sure where the Rose Theater is.


Susan FM,

Please don't feel like a jerk. Even if I were unemployed as a consequence, we could still be friends.

Doji Girl,

I will echo the group...



Those dates I mentioned are in August. Please let me know if there is a meeting of your group within a day or two of them. We'd consider coming out a day early or heading back a day later if you'd give us Guest Passes to the meeting. We'd even wear fake moustaches and spectacles if need be (although Catherine might protest...)

ACAS is forming a nice continuation traingle

Thanks Michelle, we'll be sure to check it out. The Rose is right in the middle of the Theater district (not unlike the District of Columbia... only more entertaining.)

BSC..I am still holding..

I'm still in BSC
I think i just got real emotional and sold my RIMM. I could only afford 1 contract so there was no way to scale out. but 85% In a day, I don't think I will regret this too much.

Have a great weekend

awesome video doji girl

long island ny

Welp...analysis paralysis set in and I did NOTHING today except take my CAT and EXM profits. Leaves me with some holes in my portfolio on the long side but all weekend to find something to fill it with.

I am outta here addicts..haev 7 baseball games in two days, starting in 30,

Everyone have a great weekend, see you all monday!!

Yeah, I'll find time I am sure to sneak a peak in here over the weekend with all you other weekend addicts in withdrawel..LOL

I'm outta here too...gonna bang those drums tonight. I'm sure I'll be checking in over the weekend too, addict that I am.

Last one out, turn out the lights...

All this talk about selling BSC...

$145 is the double-bottom confirmation line. This could just be a channel between $145 and $137.50. Or a descending triangle between $152.50 and $137.50.

Did you see the huge volume on the last 2 up days? Neither did I.

Have a great weekend!

Regarding SWIM, a few highlights from the metrics INVESTools reported for its TOS brokerage were:

- new accounts opened increased 348% over the year-ago period
- daily average revenue transactions (DARTs) increased 225% over the year-ago period
- client assets under management rose to $1.78 billion as of month-end, a 125% increase over the year-ago period


Doji Girl - agreed with your assessment of KIM .. I came out of it today with a profit.... about 2P central. And MAN! What talent and what a workout .. Fabulous stuff - glad you let us see that. Now THAT is solution for a down-day in the market!

And BIG JOHN ... you're tall in our book ... That cousin probably can't even spell stock!

CHRIS of C2! DO NOT let Katherine see Doji girl in action ... she will recruit her to join her hammer pounding when you blow trades! Both of them together and you are a goner! :)))))

Joel R... I have been in FCX also and did exactly what you did earlier today ... Been a great pick and I'll ride a smaller position through earnings with stops on Monday!

Another fun week and thanks to all of you for your help ...


Got some holes also Raimo and I'll be working on those over the weekend!

(sorry for length) JEFF ... 6 months ago .. that chart would have looked like some awful example from a geometry class I hated in school. Thanks to you, IT, and the other addicts .. I have rules now ... understand better those charts .... I would put it on my watch list as an uptrend ... wait for retracement and consider jumping on board at the next support bounce based on other items! That would be my plan and I'm sticking to it .... (until you tell me I'm stupid and tell me to look at it again! :)))

Good weekend everyone! THANKS for all of your help!

Rose Qtr. is our basketball arena. NOT in the theatre district. Although M Buble concert (Theatre in the Clouds) sets up the area in a smaller more intimate concert style than the whole arena. Recommend downtown accomodations & take Max (light rail/not far) to arena you'll be happier & closer to other fun. Our IT group does meet when you're here, but unfortunately it's the 27th, the same night as your concert. DANG.

Thanks for the info. I have the tickets, but you know more about the concert... Hmmmm this won't look good on the resumee. I like your idea... I did see that the Light Rail is close by. Bummer about the meeting being on the night of the concert. Catherine and I are really eager to meet more people in "da biz" that we can bounce ideas off of.

Which is why the blog is so awesome. Again this week I have learned more than a month of classes.

Jeff, thank you, thank you, thank you one more time. Plus we got to see Doji Girl in action. That alone was worth the price of admission.

Oh wait... it's free. Well, it would have been worth it even if we had to pay. But don't get any ideas.

Never mind.

Have a great weekend everyone. I get home tomorrow night and have Sunday off, then head to Calgary and back to Halifax next week. Oh the life of a ramblin' guy.


Quick note, been a busy day mostly away and have to run again.

The reported BSC price change at Close is +$1.09 on the Prophet Charts is inaccurate, it should have been +$0.77. I noticed this periodically through the afternoon during trading, don't know if it was incorrect earlier today or on previous days. The actual price reflected on BSC during trading and at the close was correct.

All other positions I'm tracking are accurate at the close.


Oh and I have reported it to IT.

I agree with Loretta. The rail goes a lot of places. Stay downtown. Portland downtown is nice. You can walk around, nice restaurants, waterfront. SE Portland is kind of dicey on good locations. Some places are good, some not. We lived there for about five years. Portland is a great city. Try their Pinots (wine). They have great wine there. The Willamette Valley is kind of a mini-Napa Valley. You can take tours and go wine tasting. If you are there a few days, check out The Columbia River Gorge. It's beautiful. It will only take you about 30 minutes to get there. Also, about an hour away is Mount Hood. Absolutely beautiful. You can drive about an hour and 20 minutes and go to the coast. Anyway, Loretta lives there, she can give you more stuff to do and see. It is a fabulous city. My favorite place to eat downtown is McCormick and Schmick's. It's seafood. Actually I think it's a chain. But I think the food is excellent.

You guys have a great trip.


Okay Jeff...I'll bite. Based on the chart I wouldn't trade it. For me , regardless of anything positive I see in the sto or MACD, downside risk is too rich for my blood. I'm in on the next pullback though.

DJ, I am writing this from my phone while in the car but based on everyone else's reaction I can't wait to see the video. And my son loves there's car!


Dogi Girl, Great video and talent !!

Jeff, thanks again for a great week and forum. I would like to give you some good news. All of us on the blog have chipped in and decided to double your blog salary. Congratulations!
Seriously though...I think I would have dropped this venture without your help and the help of everyone on the blog.

Everyone, have a great weekend.


Glad to hear a fellow blogger has ties to good 'ole Hampton Roads. We should get together next time you're in town.


~~~~WOW~~~~~ what a neat group of people !!! I got a chance to look at the pics and watch Doji Grls video!!! awesome!!!
When i was in college i was good friends with the Chief of the Oswagatchee Bear Clan (mohawk) and i attended a ceremony of drum rolls and dancing....the energy is truely amazing as a spectator, i can only imagine what it is like to be part of it!!!

regarding the "test".....i would have got in on the bounce 4 days prior....this would not fit my break out rules (b/c there was no volume spike) this point i would have to wait for/hope for consolidation/retracement before getting in....

i am sure i am not alone when i say this week was absolutely fabulous!!!
i hope everyone has a wonderfull weekend....thanks to all of you who have shared your pics, they are great.....and karen you are a woman of many, real estate, dancing, drum beating....YOU ROCK !!!

Regarding the game today...

My thoughts are it is at a good entry point with defined line in the sand: Breakthrough a 52-week high on increasing volume. Good break out. If it drops below the previous high - defined exit and move on elsewhere...otherwise enjoy the ride. I would go with it.

Love the chat.



Portland is a neat little city. I have lived in Oregon for eleven years now and have spent a fair amount of time there. However, being the mountain person that I am, I much prefer the Mt Hood area. We are about an hour east of Portland in the Mt Hood foothills. Quite a place! Hiking, skiing, biking, and anything outdoorsy. Timberline Lodge is a great attraction.

Before I lived in Oregon, I lived 30 minutes from Manhattan on the Jersey side and have had a hard time considering Portland a “city.” I know some people might be offended by this but I grew up by on of the biggest and see Portland as more of an urban sprawl. Neat place though.

I too like McCormicks for eats. There are a few in Portland, Jake’s, Harborside, and the original.

Have a good weekend all!



Grew up in the area but have only been back for about three. I would agree with Loretta on the MAC. You could get a hotel at the airport and take the MAC all over the city and avoid taxi's and parking that is sometimes fun.


I am in Boston, want a new BoSox hat?:)


Tell me more about your IT group if you don't mind. I have been interested in finding something with other IT that was in the Portland area, been in the IT worls since October.



Grew up in the area but have only been back for about three. I would agree with Loretta on the MAC. You could get a hotel at the airport and take the MAC all over the city and avoid taxi's and parking that is sometimes fun.


I am in Boston, want a new BoSox hat?:)


Tell me more about your IT group if you don't mind. I have been interested in finding something with other IT that was in the Portland area, been in the IT worls since October.


Great video Karen. Thanks everyone for all the blog ideas this week

Have a great weekend.


JH, you are all heart. I'll take the hat. Next time I go camping, it would be a great thing to start a fire with.

Last night, I refused to get a five year old a juice box who was wearing a BS hat and pointed to the sign next to our deck bar that read "YANKEE FAN PARKING ONLY". He had no idea what I was getting at... very confused. His partents laughed.

(& others interested in local IT User Group)
Go under Community Tab in IT site, then click user groups, then enter Oregon (or other state)and search. That will get you our illustrious leader Joe's email address to contact him if you're interested.
It's a free group of local IT Master's & PHD students. IT not involved other than listing for us so we direct the content etc for us to learn, share and grow as traders using our IT education. I believe Portland has another group (not listed on site) for Associates & beginning stock IT students, but Joe would have that contact information for you. We meet in the Beaverton area two times a month on Monday @ 7:00.
If there is no group in your area and you'd like to start one contact Liahana Cole (email listed on site under user groups.

Doji Girl:
The FLA A&M drum line has nothing on you girls. That was mesmerizing and phenomenal. WOW!

On your example, I would wait for a pull back and then jump in.

Hello Karen,

I'm Impressed!! thanks for sharing the video...



Long time lurker,first time posting,enjoy all the informative comments and will be more active on this blog in the future.

Thanks to evereone who already participates, especially jeff.



Thanks for the information.


Picking on five year old kids for BoSox hats.....I have a book for you to read.. THE ANATOMY OF PEACE!!! Look it up, you need it. I should have went with my gut of sticking around but I punished myself for breaking rules. CRDN and GRMN have been sweet. I hope my ESS bear in OCT will work out, working on patience and not looking at accounts. Hope the deck party went well.


Hey guys,

Hope everyone is having a great weekend.

KIM -- I sold mine on Friday. Probably would have continued to hold except I have July options so I had tightened the up the stop pretty good. Made over 100% on that one, so feeling good. Will definitely keep it on the radar if it wants to continue down.

Great video, DG.

I wanted to share something with everyone that I realized this week. This was something that made me think alot and I hope it helps you. I apologize for the length.

When I first started trading options earlier this year, I was trading in a small portion of my IRAs and just learning and basically hoping to break even. Then, a couple months ago, I started trading with some non-retirement funds.

When I added the non-retirement funds, my focus went almost completely to that account and I sort of put the IRA trading on the backburner.

Guess what I realized yesterday? My non-retirement accounts are basically just breaking even, but the portion of my IRA that I've been trading options in has grown from $6500 to now over $10,000 in about three months.

I almost couldn't believe it. I had to double and triple check the amounts that I started with before I would believe it was true. But here's what I'm taking away from this -- I'm doing WAY better in the account that I am trading less actively.

So, I had to ask myself, what am I doing differently between the two accounts. And, it comes down to two things, I think:

1) I'm not watching the bottom line account value in the IRA
2) I'm not taking new trades very often, just watching what I have and letting them run as long as they are trending.

This has really made me think about how closely I am watching my margin account. I am most likely overtrading or at least micro-managing. I also know that I watch the account value too much. I will take certain trades (say bullish or bearish) in order to make sure I am hedged for the possibility of a down day. The reason is because I don't want to see that account value go down. I think this is really tripping me up a lot and making me take more trades than I really should

This has also given me some great confidence that I am actually making this work, I just have to learn from this.

I share this because it has really made an impact on me and I hope that maybe it helps you guys in some way.

Thanks for sharing Tim.

Doji Girl - Playing an instrument should not make you sweat and that looked very tiring. Great job! It looked like you were having a lot of fun.

First time posting, I have been watching for several weeks. For some reason I have to continue to click on comments each time I want an update. They also seem to be several hours old. Does anyone else have this problem?

Fellow Addicts,

The other day Stephen asked a question regarding setting up a "business" for trading and taxes.

I was wondering if anyone had set up a corporation or some other type of legal entity to potentially reduce tax exposure. The IRS has some strict rules about this as I remember.

-Steve in Ft. Lauderdale

I know a few people that have set up LLC's. They went through Traders Accounting to do so. They have different packages available depending upon what you want them to do for you (set up the company, do the accounting for a period of time, do your taxes, etc.). The Website is I have looked into it as well, but have not moved forward yet. Something to keep in mind is that you can write off education expenses as long as it is within a certain time period--I believe 12-18 months. I posted this comment the other day but it probably got lost in the 100+ comments from the day. Hope this helps.

I have to agree with the group. Kudos Doji Girl.

VaBeach Girl - We don't have any plans to come that way for a while but I will let you know when we do. We had to do the festival of lights on the boardwalk last year when we were there for Christmas. (the kids loved driving on the beach!)

Lisa G, Thanks for the tip. I'll have to check it out. At this point my acc'tant, had me file some paperwork with the IRS to state that I was a trader and any income is treated as such and education, so forth can be written off.

Tim, I have found that turning off my acct. balances in the trade page (TOS) has done me wonders! I would highly advise it to anyone.

Rene in AL
Long: MMM, POT
Short: Still hanging on to BSC

Good morning addicts

Did anyone take the ETN trade (jeff's watchlist coiple of weeks ago?)

We should get rewarded

ATHR is going to break out this morning


Congrats on the revelation. That was sort of what happened to me and what my message to Jeff was about, but you put it in MUCH better terms... I'm simply trading less. With shorter term options, I found I was watching their every move... Now, I trade about 30 minutes a day, and watch the market, help others, and chat all day long... Soon the golf lessons... I'm not completely ove my addiction to watching just yet, but I have learned to "just let them run."

I rewrote these after our user group meeting on Saturday. It was taken from a trading psychology class that the user groups had access to for a couple of months. Check with your user group leaders about the class. If you are a user group leader and don't know about the webinar write to Liahna Cole (mentioned above).

Ten Trading Recommendations:
(Revised from: Ten common trading mistakes)

1. Have a well-defined trading plan before entering the trade.

2. Have adequate money management rules & trading capital.

3. Have expectations that are achievable.

4. Use protective stops.

5. Have the discipline to follow your plan

6. Trade with the trend; take a large portion of market moves.

7. Let winners run/Cut losses early.

8. Trade a manageable # of contracts per day.

9. Accept responsibility for your own actions.

10. Keep a broad perspective on the market and your account.

These statements were adjusted from “what not to do” to positive statements. By concentrating on what you should be doing, you will continue to remember the rules, instead of trying to remember what you’re supposed to avoid… If you’re trying to avoid it, then why are you trying so hard to remember it?

Use positive statements instead of negative statements when developing your rules.

Lisa,,,,great post i really like the positive spin on the rules,,,i think it makes a difference in my frame of mind

David$ i'm in etn,,,yeah baby!


ETN here also!! ditto "ya baby"!!

EQIX...came across this morning. Big base breakout on 6/27. On a 2 year chart this has had some nice trends. This may be the start of a new one. Earnings July 25th


Michelle, John L, and JH. Thanks for all the info on Portland. Catherine's a bit of wine buff so we might just head out a day early and take her on a tour. I'll drive.

lisa... and Tim. Thanks to both of you for your observations. This is stuff that makes us all better traders and it's also why I pay Jeff $10,000 a year to come on this blog. It's worth it, man.

Waddya mean YOU'RE not paying for it?


I'll make it all back on ETN.

OK,,,i know i'm not supposed to fall in love with a stock,,,but,,,I LOVE RIMM


It's OK to fall in love with inanimate objects. It's the animate ones that are a no-no.

If you can do it to RIMM, then I'm continuing my affair with PCU and GRMN. RTI on the other hand is testing my patience, not because the trend is broken but because I got in at a bad time and I'm now at my 1% bailing point and it's right on support. Excellent entry point for those looking for a put.

Take a look at ATT there was a great article on IBD on where they are stating that a lot of the new I phone buyers are swithcing from other wireless co to att just to get the i phone. THe chart suggests a continuation triangle about to go, but maybe they talk on earnings about the new customers that could be big for att

GOOGling this morning.....

REDF a takeover target between GOOG and YHOO..I mentioned this a few months ago, seems my tip was on...

AMG and MHK are both at low risk entries and looking good.

______________ SWING vs TREND _______________

Please open your notebooks to page 25 and look at GRMN if you are waffeling on whether you're a Trender or Swinger. In mid-May it finally broke off it's support line at $55 and headed higher so I bought Aug calls. Two weeks later it had spiked up to $65 and was pulling back. A swinger would have taken his or her profits and run, and would have sold for a tidy 100% profit. Today they're up at 400%

I am becoming more and more convinced that trending will win in the end, although I think there are times that playing the swing could work, too. Practice makes (im)perfect.

RTP looks like a good entry point. We just entered the trade.
Jeff and Eric mentioned it on the MarketCast as a stock to own if you can get into it.


I agree with you. I usually play GOOG and CME as swing trades just because they are expensive and volatile.


There you go. A perfect example of how swinging can work. RTP would probably be another good example of that. Love the stock and the only way I could afford it would be a one or two month call... so a swing play. Hmmmm. You see how much we learn?

I agree on RTP as a good stock to own, too. That is where I look at Phase I and II... and they're excellent. But what do I sell to replace it with? I guess it'll go in my back pocket. Next to my buns of steel that are taking horrible abuse from the chair of steel I'm sitting on.


Is it a bad thing to admit your a swinger?? LOL....

BSC showing its weakness...

Is anybody in BCSI? It broke out on Friday with good volume and is continuing to move up today.

Jon P.
OC, Oregon


"Clean Cups!"


Ha!! Thanks Jeff!
Heading ---> that way!

New thread addicts.

Joel R.

ICE - Cup & Handle breakout

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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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