AWESOME!!!
Thanks for sharing.

Amy

Judy, my prayers are with your family. Remember to keep us posted.

Raimo,
I see a flag with a price target of 13 points. With this stock holding support, I would be willing to get in early and use 87.50 as support. It is on my radar...thanks.

Amy

Love the pics.....Brett those boys are too cute !!

Raimo....i looking for a little guidance....VTR Nov 40 put, purchased when stock was around $37.50...price has tanked with incr vol ever since....broke through support around $32.50, with even more volume...my next area of support is $30....i purchased a Nov option b/c i think real estate related stocks will tank at least til the end of the yr....and w/ the vix rising, i figured if i bought more time now, it would save me from having to buy when option prices are over inflated ( i could get in once instead of 2 or 3 times)....so here is the delemma....my profit is around 150% and earnings is coming this week (i got burnt 3 times last week w/earnings)....how do you decide when to take profits?? take them now and look for re-entry or ride it out...if the stock breaks 25, i think it will go all the way back where it came from (zero).....
your opinion is appreciated

thanks

FYI...
If you look at AMG on a 5yr chart, it is sitting right on strong diagonal support...i also have horizontal support drawn in around $120....could be a good bullish play if the market can hold its own....

Those are great pictures. It's nice to put faces with the posts.

Barbara,
My Investools pulls up fine. You might just try shutting down your computer and rebooting.

Michelle

Okay i am ANNOYING myself.....i swear this is the last post for the night....AMG (again) imp vol is way high and options are pretty expensive...the aug 120/125 bps has a nice credit (for a spread with only a few weeks left)...jeff don't hate me (lol) it just seems more sensible this way....

thats all, i promise
good night, happy monday, it shall be a wonderful day

Hey everyone,

Judy, I am praying for you and your husband now. Everyone, you guys are the best.

Here's to a good week.

Great pictures especially the boys Brett!

Thanks Michelle, I had several of those on my list too. I have not done my homework tonight as I was finishing a painting (stress relief).

Here are some of my unstudied ideas - relative strength groups: PERPRD, AGRLIV, AIRDEF, CMPSTR and some of the stocks in them (or just faired well last week) that may be interesting UCR, NOV, PCPP, MMM, DECK, PCP, GRMN, ZOLT, VSEA, GPRD, BOOM, VIVO, AMAT, SWHC, JUNPR, TNE, MTXX, EDGW, AXCA, RGR, OII, NAK, FFIV and VDSI to name some.
Bearish:
JEWRLY and BLDRAW for groups and TTC, TUES, PFE, FRX, GCI, XLY and SWK for some weak bearish stocks.

As I said I have not yet reviewed for entries as I am doing this from Big Chart first but plan to do that next.

My daughter is bugging me to make my famous (to her) Bailey's Ice Cream drink so have to do that right now.

Brett -- those little Addicts are too cute!!

and I see you've got the Cramer Bobblehead for good luck

Rock on........
ca

Great pic's!

Maybe I should send some of where I was when the markets dropped last week. The beach was beautiful and the vacation was great but why do the markets have to beat me so while I'm trying to take a break!!

Anyway, now I'm back in the game. I just felt compelled to listen to the greater part of the last 6 Marketcast tapings and am getting tired.

I'm interested in these credit spread strategies you keep talking about Jeff. In TOS is this termed a vertical? Everything I've been looking at seems expensive but I'm not liking the risk to reward i'm finding in the verticals either.

Anyway, we will see how tomorrow plays out. I'm definitely finding more bullish plays than bearish so I'm kinda thinking that direction but who knows. (and hopefully the VIX will follow suit and drop a bit as well)

I've definitely got a short leash on BSC, I think i need to get more aggressive with realizing gains!

Rene

Brett,

Your picture with your kids and the smiles on the three of you says it all.
You are an awesome trader and father. It seems you and Jeff have many things in common.

Anu

Brett,
Those boys are GAWJUS!

Not sure what to jump into today. Futures were up nicely earlier, fading now. Maybe I'll do nothing. Cash is a position. In typical Doji fashion, I can't make up my mind.

Tim,
Thanks for the stocks. I made a list and will do some analyzing while the kids are still asleep. That is my fav thing to do. The part I hate is figuring how much and when to buy (laughter.)

Doji Girl,
Are those puppies in your arms? I couldn't tell from the pic I have. I love your posts, too.

Yeah, In case I didn't mention it earlier. I love those boys. they are as cute as pie. I'll have to search my pictures and see if I have anything recent to post up. I love looking at pictures of peoples' families. I know you told us. How old again? Three and two?

What's everyone's take on what the market posture is? I'll bet Brett and Raimo nail that one. They always seem to know. I thnk it comes with experience.

Happy Trading,
Michelle

Thank you for all the kind words. The little addicts are 3 1/2 and 1.

As for market direction, my guess is we head back up, but if support here fails, it could be another 500 or so pts down at least on the DIA. It doesn't matter how good you are at forecasting market direction, no one has any idea what's going to happen. All you can do is play what you know and protect against what you don't.

Tonya,

VTR...

You do not have a 150% profit. Not until you BANK them. You need to have rules to follow for holding over earnings. My rules may not work for you, but they work for me.

Also, I do not trade on what I think (the housing market gonna keep tanking? til end of year? You THINK so, or do you KNOW so??)I trade on what I know...and that is what I see on the chart...

Here is what I do know. I could leave the trade now, and bank a 150% profit. OR, I could RISK it ALL on earnings. Perhaps LOSE it all. Or I could bank 75% of my profits, and let the rest of my winner run. Lots of options when you have good profits heading into an earnings release...

I posted last week how I personally handle earnings, but I think you get where I am going.

Hope this helps......

Michelle,
Those are not puppies. They are my TOS monkeys. They live near my monitors on my desk but I included them in my OA photo.

Brett,

Oh my gosh!! That photo is amazing! It's better than any infomercial I've seen for learning to trade full time!!

Doji Girl, love the OA T on you!

Have a great trading day all -

Beth Ann

RUT is at a Fib support and closed Friday on a Bullish cluster on the Market Foreceast.

AZO is sitting near support with a hammer.

Premarket indices are bullish.

Stan Lake

As I do not yet know if this is a Bull run or what will happen end of day, I am on the sidelines today. HCP just stoppped out as I had the stop tight thinking we may get a bounce. PCP is flat and GMCR is down which may mean out today. Not much in my account today so did some paper trading until I see a clear direction.

Good morning all,

Judy- make sure you take care of yourself, too. We're praying for your family.

Brett- you can send those cutie pie boys my way anytime, I remember when my two boys were that little and cute

I'm taking everyone's suggestions and treading lightly this week. I think I'm going to concentrate on finishing the advanced options course in preparation for heading to the 3 day live in Salt Lake. Has anyone gone to the 3 day live, yet?

Kim

Kim,
I did last August. I met Jeff. Sam and Cameron were our instructors. It was great. I think you will find it motivational and educational.

Michelle

KCI is breaking out of a bull flag

i am going to salt lake the last week of aug for 4 day live active investing,,anyone else going?
Kim when are you going? i signed up for IT before they did the 3 day live,,so i never had it available


sue

DG and Brett, great pics. Doji Girl I reckognized the TOS Gorillas but it almost looks like they have mini OA shirts on too. I'm assuming it's actually TOS shirts... but there's another idea, Jeff. How hard would it be to make some Gorilla shirts. Lots of us have the darned Gorillas and some OA shirts would be a nice thing for them.

Anyone interested in a great bullish entry have a look at ZOLT. It's pulled back to a perfect entry point and the last couple of days look like they're confirming the diagonal support.

Now you'll have to excuse me. Catherine and I just got out of the pool and the hot tub (the pool has to be the same temperature as the hot tub for Catherine to get in it...) where we solved the problems of the world. We had just heard the big news... that George W and Ossamma Bin Ladden had a meeting with a Genie, and the Genie granted them each a wish. Ossama asked that a wall be built around a part of Iraq that would only be for the Taliban, that it be bomb proof, nuke proof, absolutely everything-proof and that it go from the ground all the way in to outer space.

POOF!!! the wall went up.

George W looked at it for a minute and then turned to the Genie. "Fill it with water." was all he said.

By the way, PCP looks like a good entry point, too. JWN is getting a big boost today so my puts are not happy campers.

DRYS has bounced beautifully today too. This one has performed like a purebred for months and I think it's on a new tear.

That just about covers all my trades right now. We're looking for a ranch to move to and it's taking a lot of our time. I'm thinking it might be a good time to keep things light and simple.

Doji Girl, awesome monkeys!
Brett, awesome children!

SusanFM

Good Morning Addicts!

Of the few positions I have left, they are doing fairly decent this morning.

The EEM is up quite a bit this morning. GLD is up. SLV is up. TNX is down. And the FXE is up.

GRMN, BIDU and NOV still looking strong.

liz

Chris nice to see you back,,i was worried that you feel off the earth with last week's tilt

sue

Michelle- maybe I can get Jeff to let me into the Marketcast taping while I'm there as an option addict invader!

Sue- Dan and I are heading for the 3 day live Interactive Stocks and Options on Aug. 23rd. Is this class different than the one you're going to?

Bob - love the joke

Judy & Sue-

Prayers and thoughts are with you and your families.



Doji Girl-

Love the shirt and the gorillas! Very cute!


Brett-

You all look great in those shirts! And your boys are adorable.


liz

if you hold over earnings...you have become a gambler not a trader....bulls make money...bears make money...but pigs get slaughtered


tuck

Bob-

A great resource for looking for strong stocks (my husband's favorite tool) is checking out the chart toppers on prophet charts. Especially on down days like last week, you can tell which stocks did the best (and the worse) in different indices. Just another idea to add to your arsenal.

liz

VA Beach Girl-

I'm going to the 3 day live on August 6th. I was hoping somebody in on this blog would be going the same time but it looks like you're going later.


Chris-

Solving all the world's problems again?

liz

tuck,
Bulls and Bears get slaughtered from time to time and look at how much fun the pigs have rolling around in all that cr#@*p before being led off to the "happy home." It all depends on your positioning, sizing, and attitude going in.

Personally I'm avoiding earings like the plague until I've got the "Easy part" down pat. But every now and then I watch the little pigs eating their truffles and think "Hmmmmmm....."

Liz,
You should try it some time. We sit out in the hot tub, listening to the birds, and squirrels, and the breeze rustling the leaves... and all of a sudden our problems seem pretty mundain. We spend hours out there talking through any family issues there might be, resolving little things that come up in every marriage, and planning for the future.

And figuring out how to build that wall.

Ooops. Catherine just cut the chord on the hedge trimmer. Better go and put her out.

Chris-

You're funny!


FXI- Bouncing... (and for those that love green arrows-it's giving one)

liz

Maybe just dumb luck, but I was happy to be on vacation last week with all the market turmoil.

Overall, account it up. Many positions stopped out (had set stops on everything since I was going to be away and many of them hit. Most were banking virtual profit...) Maybe I should just trade this way all the time?

Still in 5 positions, 2 doing well, the other 3 far away from any kind of value.

Long: STR, FTO, BHI, VDSI
Short: TTEC

Time to start looking for a few trades for this week, after I listen the last weeks marketcasts.

thanks
Strat

ps. Love the pics!

Kim

i will be in utah aug 26 until 31, will you still be there,,it would be great to hook up

i am going to 4 day live active investing which is different than the 3 day,,supposed to be more intense and geared for the real active trader,,,it better live up to the expectation because it is very pricey,,, 7 grand plus travel

thanks again to everyones well wishes,,you guys are awesome,, we have more good news today,,,my 9 month old neice had to have open heart surgery last week on the same day my dad has his health problems,,she was not doing well at all for several days and i couldnt even bring myself up to posting it at the time///probably because i felt SO helpless,,there was nothing i could do to help her or my brother and sister-in-law, she was flown several hundred miles away for the surgery///but she is finally breathing on her own//anyway,,thanks for letting me vent and be distracted here,,,i'm rambling,,sorry,,just needed to exhale

sue

Good Morning Option Addicts,

Any one know what's pushing UA up this morning, earnings are tomorrow. Any other UA news out there?



Glenn

Sue,
Awesome news on your neice!! There's lots of room for more prayers and "good carma" thoughts. It all helps, I believe.

Liz,

What is your target on FXI? Around $142?

Thanks, Elaine

Morning addicts!

AA - possible call .. bouncing off of $37.50 support ... Just FYI!

Have a good day everyone!

liz,
How long ago did you get into FXI? Volatility is astronomical right now and it's awefully expensive to get in. I've put in a low-ball offer but don't expect to get it. Might consider selling an Aug $130 put (that looks like it's last area of resistance.) At $2.12 it's a pretty good income for less than 3 weeks.

Elaine-

I'm looking for it to go right back to it's previous high which is 142 (first target). Then higher from there. There's trendline and horizontal support right around 135/136 so it's a pretty easy exit.

liz

Chris,
I just love your posts. I like packing the boys in the stroller and five year old on her bike and taking a walk in the morning and thinking. It's nice and cool and no one is out and about yet and things seem simpler.

Tim, I looked at bear picks that you had and none are entry points. Anybody see any bear picks that are at a level of entry? I am trying to balance my few trades like I was doing before I got off balance last week.

Michelle

Benton
AA's just coming off a lower low. I'm thinking that in this market I'm only going to take "sure things" and this chart looks like it's ripe for a movement. Only question is... which way?

Personally I feel there are much better entries out there. But what do I know? Not only have I been away for a week, but I don't write poetry.

Thanks, Liz.

That's where my first Fib is and then $154.

Elaine

The White Mocha Monday Specials:

BPHX and CHKP.

If you don't see what I see, I can't help you.

Chris-

I'm not in FXI yet (It's on my watchlist). I just noticed it was bouncing this morning. I hadn't even looked at implied volatility yet and you're right. It's way expensive!

I like your idea better.

liz

Liz - can you tell me where to find the chart toppers on Prophet? Tks.

Sue - Unfortunately we're leaving early on the 26th. We're going up a couple of days early to see some sights before we get brain fried during class.

To all...I don't trust any of these "bounces" today. I bought MMM, liked the easy out. I've subscribed to the phrase someone said last week, "Be right, or be right out"

Kim

Good view Chris ... I've played this both ways .... I rode it from $47.50 down ... 10 point drop ... There are a lot of entries out there ... this was just one of about 30 I found over the weekend ... I won't consider jumping into this until last hour today .. but it's on my radar....

If you find some 'sure things' in this market ... pass them along .. I'm looking for them! :)))

Sue,
So happy to hear that your niece is improving. I will keep her in my prayers also.

Thanks again for all the prayers and kind wishes for Mac.

I bought a call on CME this AM-just one contract. Waiting to see what the market wants to do.

Sue - Forgot to mention hooray for your niece!

Kim

Hey Michelle,
Thanx for your thoughts on thinking. Thoughtful thoughtfulness is always... how can I put it?... a deep thing.

If you're looking for a put... have a look at JWN. I was up 100% on it until today. Now it's moving back up towards it's support area and although I'm losing potential profits, I'm holding on and thinking that it's looking like a decent entry point in the next couple of days.

We're in 4 calls and 3 puts right now. Like Charlie Brown, my wishy-washyness is boggling.

We are so very excited that after last week, our account is still above our 2/27 level and our RRSP is up as well. And there's only one reason for it.

________________OPTION ADDICTS ROCK!!!!________________________

Kim-

On the left hand side of prophet charts underneath 'my chart styles'.

liz

Liz and Elaine,
Somehow I get a freakish kind of excitement when I see someone else reading the chart the same as me. I see it's previous high of $141 (or $142) as being the next spot to blast through, and then $154 as the next peak (I had actually thought $155, but that $1 won't even buy us a WM, so who am I to quibble?) Elaine I think it's really neat that the fibs confirm this!!

Liz as I was reading your post on agreeing with me about the expensive options I heard the dreaded "BOINK" of me buying an option and I got my low-ball price on a single FXI Nov call. So I'm in, my friend. So far I'm up a buck. Should I sell? Hold over earnings? Hmmmmmm. what to do.

Hey guys. I've seen a couple of comments referring to my stock picks and I don't think I threw any out there today. Not that I mind, just thought I'd give credit where it is due. I think you might be referring to Bob who posted a comment right under mine and did put some stocks out there.

I'm not doing much searching today. Just trying to let things settle and manage the things I'm in. Still in a few that are making money today. LFC, PCP, CROX, and CMG.

Brett-

Okay, I get BPHX. I'm not sure if I get CHKP. A 'wonky' cup and handle that broke up, came down and re-tested and now is going back up???

liz

Hey Brett,
Earnings tomorrow on CMG!! Time to buy in, grab a hefty WM and ride the wave!!!

Or not.

Here's my paper trade. Everything's bottoming out (MACD, STO) and it's in a bouncy mood. Mortgage the house, buy low... sell high.

Liz-

back out to the one-year and you'll see the symmetrical triangle breakout clearer. Plus the retest today of $24 support.

I'd also like to toss out VCP as a nice entry.

Chris-

I think you should sell and hold over earnings!

liz

Brett-

Duh! Thanks!

liz

GOOG just broke out of a short-term ascending triangle at $516. This should set the target at $525 if this retest holds. A break of $520 should send the stock to the moon.

I am glad Liz asked the question as I too saw BPHX but CHKP...
I normally use the 6 Month Daily but probably should use the 1 year.

Chris, how do you evaluate bouncy in a stock? That is a new one on me! CCIT - Chris and Catherine Investment Training method?

PS to Brett,
OK, so I guess you can't help me. Just call me a whimp (I was born with a yellow stripe down my back. My passengers probably appreciate it, but it makes for tepid trading sometimes) but I don't see CHKP as a great oportunity. It looks to me liek a flag pattern, but the entire pole comes from earnings on what is otherwise a lackluster stock with a $4 range over the past 9 months. BPHX on the other hand looks lovely. If I was in the buying mood for some more calls, I'd be there.

Bob (and Pam),

BI (Bouncy Index) is a concept I'm in the process of patenting. So far it has no obvious use, but a patent's a patent.

Brett, I went out 2 years and saw your pattern, but I see $7 potential in 12 months. A perfect re-test right now, I agree but the reward seems a bit anemic. Am I not interpreting this the same as you are?

Chris,
I don't see earnings on FXI, did I miss something? I am on TOS, not IT. Hmmm...

Also, I agree with you about CHKP, I thought it was a flag, too and then when I backed out I didn't really see the triangle. I do like BPHX though. Thanks, Brett.

Elaine
p.s. I just want to introduce myself. I have been trading seriously since June, my parents were the catalyst for me to begin. I recently began commenting here and I just want to thank everyone for their awesome stories and encouragement. This is one of my favorite places to hang out during the trading day.

Also, I am married to a wonderful man who doesn't trade but supports me 110% and I have three lovely boys ages 10, 7 and 3.:-)

Chris-

Depends on the move you get and the options you buy. If you don't like the setup, there's no reason to take it down.

Anonymous-

You didn't give us a name. I also have 3 boys. (6, 4 & 2).

And Chris was just being sarcastic! He's good at that.

liz ;-)

VIX is down but FXY is up. Hmmmm...
less fear and less liquidity, I don't like the set up.

Kim

Liz,

That was me. My name is before the p.s.


Thanks,
Elaine:)

OH Yeah! I get to be the one who says, "clean cups"
See ya all there.

Brett,
Thanks for the stocks to look at. The kids are playing nicely this a.m., so I'll pull up charts and see if I see what you see. Be careful on GOOG. Remember, there are a lot of people holding the bag after the drop. I would wait for all those unhappy to unload the stocks/options that they had before earnings. I cut mine loose, but if I still had them, I would be waiting for the stock to move up some and then bail. Just a thought. You probably already know this.
Those boys are so cute. Do they play well together yet? My three-year-old is kind of mean to my almost-two-year old. They are both boys. My oldest (5) plays well, though.

Michelle

Brett,
I agree, I've got to trade the ones that I'm comfortable with. This one doesn't do it for me but I was just curious as to why it does it for you. If you can grab some super cheap options I can see it working. It's a good thing Catherine's not reading this or she'd be going all analytical on you. "How do feel about that?" "How does it make you feel when a stock loses money?" "Does it remind you of your childhood?" ... you know... stuff like that. Anyways, thanks for your input.

I'm not seeing anthing on REG today. The stock is still in the tank but there's no bid or ask on my OCT $75 put. Seems a bit bizarre. Is anyone else into this one?

Chris, I've got the same deal with REG .. I am in it and it isn't moving any direction ... Must be a technical thing ....

Liz- I hope you're right about Google, and then some as I held August 530 calls over earnings...sigh.