Give em hell, Jeff. You da man and again I agree with you about negative comments.

Thanks for sharing your thoughts,

Gray Mac

Jeff-

We appreciate everything you do.

liz

P.S.

Bob-Left a comment for you on the last thread (at the end of the blog).

Arty-I also wrote a book for you on the last thread (at the end of the blog).

liz

Jeff,

Like many here, I will always have your back, and trounce anyone that that comes here with bad intent.

This place remains...

"The house of Pleasure"

I love this group. I don't have anything worth saying . . yet! But you guys just wait. Someday . .someday . .yeah, well, someday, I'll say something that knocks your socks off.
Lori

CME

For those of you that that missed this trade (I blogged about it around July 25th or 26th or there about), CME has broken through and closed above $590, which it has been unable to do twice previously. And it accomplished this in great fashion...lots of volume on a day the major indices lost between 2 and 3 percent. After hours it is 597x600....

If old resistance is new support....

This is getting a bit weird when people know you so well that they know you will not look at the last thread so they tell you Bob, I left a post for you... Thanks Liz but now they can say it is just crazy California traders but at least I don't have to go to the Doc over it. Better tell Pam to cancel that appointment.

Raimo, thanks for reminding us forgetful types it is more help than you know.

Ok, I read through Jeff's post and the others again and I am realy MAD and ticked and all those other things I can't say here. I traded STFU today based on Kohler's recommendation, see I know you are now hiding your watchlists in code so only your faithful fellowers get the tips! I am on to you. Yep, I figured it out and traded it at support (close to my exit, it was perfect) just like Raimo tells us and I lost MY WHOLE account today. I am calling IT first thing in the morning and telling them that I am an idoit...ok I couldn't go through with it. Pam gave me this idea and I can't even keep a straight post "face." Sorry couldn't help myself. Hopefully you see a bit of humor and just how crazy this all is.

Ok, that was my last post on this. I will now ST_U.

Thoughts on the homebuilders, specifically KBH and RYL? They seem to be banging their heads on resistance, but the volume gives me pause.

Andrew,

KBH on the 5yr (log on or log off!!) is clearly at resistance...why are they(homebuilders)running up on volume in this market?

It' rediculous, that's why. That is my best explanation..

Or, is it that homebuilders tanked before the markets did, and dragged them down, and now they are going to run up before the market anticipating a rate cut in Sept.,, and then drag the markets up?

Humm, H,mmm, Ayeeee....

I don't know, but I plan on taking advantage of it for sure...whatever it does.

Andrew,

They are getting ripe, but I would wait for them to roll over. That could be tomorrow or Monday the way things are going.

Check out IMB and CFC, lenders will be getting whacked as well. I missed the close today, they both look like possible entries.

Joel R.

Jeff,

You are one of a kind, and that's why we love you! But, just for the record the Jackson's were neighbors to friends of mine growing up and for the record I liked Tito! Ha.

Dont let the b*stards get you down. There is an awful lot of us who REALLY appreciate everything you do!!! EVen if I don;t post often, I visit here everyday.....

Andrew,
Listen to Market Cast. They covered how even a stock or industry that is going down, they will rise up and zig and zag just like a stock going up. And there is short covering and people buying at lows to get a discount. So just becauset the industry is in trouble be careful about your entrys and exits. That is kind of it in a nutshell, but they explain it lots better.

Michelle

Jeff,
Thanks to you and Eric. I get complacent when we have a few up days. I am mostly in cash and think I'll stay that way and only play two or three positions until everything settles down or I get better or both.

Michelle

Jeff:
You are blessed with knowledge and persistence. You are a kind person for sharing what you know. There are many people that are envious about your success. Do not let a bunch of complainers ruin your morale. It is our responsibility to do the research and pull the trigger.

You are a mentor and a teacher to most of us. To the people that complain they are just idiots that have to blame someone else for their mistakes.

Thank you for what you do.

Well, I am gone for a week with the family and fishing in Carlsbad, CA and someone let a Rogue in and some other idiots. Jeff, one thing I know about you and this blog is you are presenting Ideas/gifts/opportunities but not advice. We all need to take responsibility for our own decisions and actions. There is a core of true community minded bloggers that could not value this forum more. The core group truly knows this and will take in and help anyone with the desire to learn and trade. As for the others, I hope they fish for many days in a row and only catch seaweed while they are vacationing. My youngest and I are doing better than that. What goes around comes around and you will be rewarded for your efforts.

Suffering fools is something we all have to do at some point.

Jeff
It's called illegitum non corburundum! thanks for all the help. If they don't own it, they shouldn't trade it.
Curtis

Anyone else notice the big discrepancy between closing and opening points on $INDU and the tracking stock DIA? Yesterday's $INDU close was 13,657.86 and todays open was 13652.33. A mere 5-6 point drop. On the other hand yesterday's DIA close of 136.55 was followed by an open of 134.93. Lets see that like a 162 point equivalent drop in the $INDU. When I placed my order last night the futures were only down 3. I'm really getting frustrated with the indexes doing this. It's causing me to set my limit to low and I don't get into the trade. I know it's the higher volatility these days but this is really making things hard for us end of day guys. Making the right decision and missing out on my potential gains today is rough.

Anyone successfully day trading this market and would like to share?

Hell yes, Jeff. You’re definitely long supporters…that’s for sure.

Speaking of Cramer, did anyone hear his new sound byte? He actually added a button on his giant soundboard that screams “THEY KNOW NOTHING!!!” How could you not like this guy…pure comedy.

Oh, and in an effort to suppress mass panic, CNBC has the following running across the bottom of their screen on a continuous loop:
"For the latest on the Asia market plunge, go to cnbc.com or tune into cnbc world on your local cable or satellite provider"

Outstanding...

Cheers,
Dave

Jeff, I ditto everything the gang says to you and about you. I personally can not thank you enough for all that you do and how much you have impacted my trading for the good. Surely, I would have given up if I had not heard about your blog and I do read every word daily.Thanks to all. I can't wait until I am as good as many of you so I can also give words of thought on trades!

Lori, congrats on the "clean cups!" I know how exciting that can be!!
Kelly

Jeff,
As I was sitting here going over teh blog again. I realized something. The greatest "game changer" I know is you. You stand head and shoulders above others and not just because of your height. You are very much like Micheal Jordon but not just on this site. Your guidance and wisdom has transformed my trading. Keep it up Jeff. You are one hell of a teacher and person. Keep smiling.

Anu

Kohler where do you come up with this music. I can honestly say I never know what I am going to hear on this blog. You have a knack for matching the song with the mood of the group I love it. Through good times and bad times we will all weather the storm, thats what blogs are for. Have a great weekend all.

Raimo,

Thanks for CME. I took profits this morning and it helped to make up for my losses. Because it is so expensive, I only had 1 contract but I made $2,500. I may enter it again. I'll wait to see what it does tomorrow :-)

Anu-

I really like what you said. And I totally agree with you.

liz

well obviously i have missed something good (or really bad).....i must confess, i have not been keeping up with the blog since i got my boatload of reading material that i ordered (good stuff by the way)...so now i have to go back and read what was said to even know what the dispute is about (dang it!!)

well whatever the problem is, i am sure it is ALL jeff's fault....he is the one that made the market crash down today !!! he is such a jerk, and man is he angry (lol...)

but on a more serious note....jeff, you have done an excellent job of forcasting this market action (thanks for the heads up)....i have/had scaled back my positions as i get ready for chicago....i have only 4 trades still going...they are all small and they are all bearish (not real diversified at the moment, but....i did what "felt" right).....
i am not sure if i will even take the time to read the earlier posts....probably not b/c negativity is a waste of time....jeff just remember you know the secret of being great...

on that note i will wish everyone a happy weekend...mine has already started, my husband's birthday is friday, he'll be 29.....i think we are going over to orlando to ride roller coasters....weeee

have a good day tomorrow and stay positive (attitude and $$)

ps..lori, you are funny

pss...jeff if you are michael jackson, does that make amber billy jean??? do we get to meet amber in chicago??

Jeff,

Have had other projects to work on this week, and the market action has been too crazy for me to be trading anything other than SHV anyway. So, I am just now getting caught up on your blog.

I must say I am stunned by the negative feedback. The haters must be pretty pathetic (and nervy) folks. It's a real downer for me to imagine you listening to voice messages and reading nasty emails that you IN NO WAY DESERVE. You have started an incredible community here, and you are an amazing teacher. I just wish I had more time to spend here posting.

Keep up the great work. You already know this, but I want you to know that I recognize that it is your right to make any changes to this site or the watchlists that you see fit. This is your site, which is the result of your vision and your unpaid time and effort. I'm just grateful that you have done as much as you have already. I take nothing you do for granted.

Speaking of changes to the community, glad you removed that obnoxious WAHMof2 tag. What idiot put that there? (Wink, wink)

Andrea

Addicts...

Here is what I STILL do to help me get better at analyzing trades, making good entrys, and learning how stocks move.

In your prophet charts create a PORTFOLIO called PAPER TRADES. Then, when you see something you like, a support or resistance bounce, pattern breakout, whatever style you trade, add it to your paper portfolio. Using the text box on prophet, type in target price and target date.

On the day you took the trade, use the circle tool to highlight the day you took the trade. Put trades in hear that you would REALLY take if you had the cash to do so.

Track them every day. I look at them every day as part of looking at my real trades or my watchlists.

The MORE you do this, the better you get at it. This is also faster than using a paper trading account, though it does not calculate $$. I like it better because it is quick and easy and I find I pay more attention to paper trades this way. When the trade is over, delete it...


I even have a JKB portfolio, I put in it every stock from jeffs watchlist in it and track them there.

Anyway, just a suggestion. It works for me....maybe it can help someone else.

Buckle up for tomorrow...

Thanks Bob for the Idea. Since I have to go out of my real account to get to paper account I just don't. My last trade in paper was an old favorite MLM. I just left it. to say the least it is down a bit.

Awesome input.

Cheers,
ARTY

Liz,
Thanks for the input on the live class. I typed in a long response and it was deleted when I posted. I will rewrite tomorrow AM.


Cheers,
ARTY

Raimo, I didn't know Jeff posted watchlists! I have been doing what you suggest for a little while, putting comments on the "profit" charts and tracking the movements (this is so we can all call Jeff when one of his many offerings goes south!)

Seriously, I thank all of you, especially Jeff, for your willingness to help everyone trade better. And C2 for the humor, too. I am not quite sure about the poems though.

Jeff, have a great time in Chicago. You will have many, many supporters there and all of us "back home" will be there in spirit wearing OA gear.

Thanks, Raimo.
Until this market calms down that would be a better way to watch trades and stocks that I have plans to play. This way I can preserve capital.

M

I appreciate your insight on the watchlist, it helps me find trades that I normally wouldn't find - thank you! Also, NOBODY should trade without doing their OWN homework and make their OWN decisions.

I don't see many others with the balls to put out there what you have.

The negative comments folks don't have to come here. Screw 'em.

Mt. Toads Wild Ride falling off the track today. Strap in.


I will be gone most of the day. Wish I could be here instead. I manage a 13yr old tournament baseball team, and have a game today at 1pm.

What really stinks is my son broke his ankle at last weeks game, so I don't even get to watch him play!!

Oh, well, they are a great bunch of boys, it will still be a fun time.

Be careful today folks. I may take the gifts of $$ today at the open and go to cash since I cannot be around.

Brett, the ship is yours....

Hi everyone. Just wanted to check in. Once again, I've been a little MIA. Been swamped with work and it's all I can do to babysit the few trades I have on. Trying to watch and learn. Raimo, I like your paper idea, I may try that.

I did make what I consider to be a good entry on PFCB yesterday. Bought right at the exit and got to watch it retreat back under it's trendline. It's strength in the down market concerns me a bit but with that type of entry, the risk is low. This stock has historically made attempts to break out of it's channel but never has. Here's hoping for another run down.

I am still in CMG. Unfortunately, I didn't get out at the top, but I had to follow my rules even in the market craziness. After today, I may be out today. If so, I will still have a good gain. Not the phenomenal gain I could have had, but I had to give it a chance to go higher. The thing that makes me so happy about that trade is that it was 100% my own. My pick, my entry, my strategy -- and it worked. Got to love that.

Still in CROX too. Call me crazy but it looks like it's still trending.

Also, PCP, LFC, PHO and GLD. All winners still and trending. We shall see today. Looks like it's setting up to be a possible downer, though futures are recovering a bit. I've been buying SPY puts at the open whenever the markets open 1% or more lower. Right now we're sitting at .75%. We'll see.

Wish I were in more puts but I am hesitant to chase the weakness. As Eric said on the cast last night, this is great learning experience for the next time.

Raimo,

You've got some serious cajones, my friend. Manage a baseball team, take trips to the wilderness with no internet access...all during the most volatile market period in years. You're my hero!

Well,
I am almost all in cash. Everything stopped out except CVD, POT and a BRY and LAZ put. I think I will watch stocks for a while.

Michelle

Everyone,

Thanks again for the support. I obviously wouldn't do any of this without you.

Tonya,

Yes Billie Jean is coming and excited to meet the group. I might have her up on the stage to change the powerpoint slides during my presentation for me :)

I've got to go show property today. And just when you thought the real estate market has died, huh. I am mostly in cash. My little ATW is up over $1 this morning. And I am not going to be able to check on things until this afternoon. Hope to get here before the close so I can scoop up some profits before the weekend.

Good luck all!

Hey, Jeff -
you're the best. No criticism here.
Except that you're too tall. You should work on that.

:-) Pat

Bob,
Well, the flag idea with VMI didn't pan out, but it sure is holding strong and even moving up in this market. My target was 85 if I hadn't of gotten stopped out.
Congrats on CME. Hope you held onto it and just put a stop. Looks like it is heading up, too.

I think I am going to sit on the sidelines today. POT is holding up nicely again as is CVD.

Have a great day.

M

Wow. Look at PCP! Remind anyone of 2/27? Another reason to not use mechanical stops. Well, at least if it keeps recovering.

Anyone catch that major dip in PCP? I scooped a bit, but not too much in this crazy market.

James H.

Tim,

I also took the PFCB trade. It fit my buy signal (even in this crazy market). So far, I am glad I did.

I stayed with KIM during this rally...huge MISTAKE, broke my rules. I gave it more room to move because my entry wasn't the greatest, but I could see it getting closer to a resistance area. So far the gods are being forgiving this morning. I am still in two bullish trades that have held up in this market. SIGM is taking a small hit this morning and BPHX continues to hold its own. I am still waiting for this one to get its wings.

Got a huge watch list of stocks that I had owned or would like to.
The few bullish stocks that are holding are:
POT
CVD
VMI

Jeff,
Thanks for the LAZ trade. Moving well.

Michelle

I am looking through my watchlist and found a H&S break @ 132.50 for DIA.

Good luck and best of trading

Christine

Pat,

I'm on it! I wouldn't mind a little change in that department since it is impossible to find clothes, shoes, etc.

GRMN, HITT, POT, DRYS all look to be at good support points/MA. HITT is positive and moving up today also with good momentum. POT getting some help off moving average.

James H.

I too am mainly cash except for that 401k that is managed by someone else, which has me worried.

Jeff, how to you work on that tall thing. Some of my shorter friends (I would be one of those for you just 6'-3") think it would be great to be taller. Ok you can reach stuff for people at home and in stores. But if you travel it is terrible. Little rental cars, small airline seats, double beds, low signs, to name a few. As for clothes, tall and slim is the worst. I have had to have pants tailored to where I might as well have had one pocket in the back.

Does any body see a head & sholders on the dow and the neck line broken, comments please>

I looked at it, too. Does look like a head and shoulders, but don't think I would call the neckline broken. I haven't studied the volume, though, which is key to calling a head and shoulders.

What I am watching closely is the FXY.

Michelle

Don't want to sound like I know it all on patterns. That advice about the volume was just parroted from Bob Raimo (the one who does know.)

M

Thanks Michelle I cauhgt that too, also watching the FXY

Attwood,

In my opinion, yes, break of neckline at about 13,450. (Break of close of 7/26) You can see it better on the DIA.

--Patti

Bob,
If you're not happy with the 401k management, can you move your account to money market for awhile?

Lori, that is what I am trying to do. So far they have done a better job than I have honestly with my trading account. But our strategy has been fairly aggressive and I want to dial it back a bit or maybe all the way back to the money market.

hi addicts,

does anyone enter mechanical sell stop orders on profit price targets? how is that working? on preserving capital i use mental stops since im at the screens all day but I have not yet experienced mechanical sell stops at profit targets. i ask b/c WCG ran 7 bucks in 10 minutes today and i missed a nice swing profit.
thanks
brendan

Calling Jeff Kohler:
I am a big fan of you, your analysis, approach, and watch lists!

As you modify the format of them going forward, I wanted to say that for me:

1. I find your analysis most useful because if I want to have more trading success, I need to better understand how you think. (the way I was thinking before was not working, but since starting IT and following this blog, it now is).

2. The actual symbols, not so I can run out and trade them, but so I can spend what limited time I have on trading, looking at patterns that are worth consideration.

So Jeff, change away...but hopefully these will still be provided in the new format.

thanks
strat

Brendon,

That sounds like a great idea for these volatile markets. I am going to try that as long as we have the same degree of volatility. I have had the same experience you have had.

Thanks for the idea.

Anu

Brendon, only used them in day trading. No expert on that at all.

Regarding the H&S on the DIA...

Got this right out of a TA book by Gerald Appel (creator of MACD):

IMPORTANT: For the formation to have validity, trading volume must decline across the entire formation. Volume should be highest at the left shoulder, should diminish during the advance to the head, and should diminish still further on the advance to the right shoulder.

According to the textbook, the volume doesn't match as its been increasing through the right shoulder, if indeed it's a shoulder.

That's not to say I'm bullish or I doubt there's more downside, it just doesn't fit the textbook H&S.

...FWIW.

Matt

Good stuff, Matt.
Until I get the book ordered, I am going to copy that info down.


M

Brendan
I use sell stops either when I am daytrading options or I am looking to take out a specific profit from a trade. It works well on really liquid things (such as SPY). However, the thing I have noticed on less liquid options is that when your sell stop becomes the inside ask, it can sometimes cause hesitation for the bids to come up. I am guessing that this is because the ask is not increasing. When I see that happening, I will cancel my order, let the bids rise and then put in a limit order at the inside bid when it goes to my desired target. Hope that helps.

I'm glad someone brought up the FXY today. The guys on Fast Money discussed it for the first time last night. I noticed a couple big time trading bloggers out there also put it on their radar yesterday. It's nice to be a leading indicator in the financial content space.

Long live the Marketcast

AAARRRRGGGHHH!!!!
this market is making me nuts.
Thanks for letting me scream.

Pat

I'm right there with you Pat. My question is - Is there anybody who is not frustrated by this market??

Pat and Scoot,

If you haven't done this already, try playing around with shorter time frames on your charts. I've been using 60 day/60 hour as long term, 10 day/ 10 minute for intermediate and 2 day/ 2 minute for short term. It's a lot easier to draw support and resistance on these charts. The patterns that use to take weeks to form are forming in minutes the last couple of weeks.

Disclaimer: I'm hardly trading at all right now. I'm in a few puts and the rest in cash. This is purely a suggestion for practice.

Joel R.

Pat/Scoot - Yes, there are some who are not. I'm one of them.

I chalk it uo mostly to luck (I'm not Jeff or Brett) but this has been a great couple of weeks for me.

My put positions more than covered any call losses. And yes, I use stops (some stop limits and some trade triggers, at loss & gain targets (not at same time).

My biggest problem at this point: I'm not really sure what to expect and/or trade next week.

thanks
strat

Currently holding:

Stock in BPHX

Short XHB, LEN, AIG
Long EQIX, MMM, AAPL (not expecting much from MMM or AAPL, but being 'patient')

Matt,
According to that H&S commentary, CAT doesn't find the criteria to be a H&S but it certainly looks like one. Is Appel's description the best case scenario for a H&S or is that a hard and fast rule? I have heard Jeff say to look for volume to decrease on the way up to the head and, again, CAT doesn't fit that. So my question is, is CAT a trade to take as a H&S?

Am I reading into this too much? Maybe I need to stop eating whipped cream straight out of the can? Pffft!

Strat,
I am in an APPL spread and I am being patient, too. So far though, I am not feeling the love for APPL. I keep thinking, "It's Apple, it'll rally." I'm not ready to dump it, and time is on my side here, so we'll see.

Laney,

I have 5 days, 1 hour and 55 min for it to move up big. We will see, this is a mental loss for me right now...

I'm sure one my Aug expires, it will tear it up and now I will feel better since at least it will help you :-)

Well, I'm back in time for the afternoon excitement if there is any. I see that I didn't miss much at least not in the stocks I'm watching.

So who thinks there will be a massive short covering rally any minute now ahead of the weekend and who thinks that if there is one, it would be a good time to buy some puts? I'm trying to figure out if I should keep my IWM puts over the weekend or bail now why I still have a profit.

Awww, I'm sorry, Strat. :-) I often feel that way. I buy the call so that everyone else can buy the put and make a bajillion dollars!LOL

For those of you who didn't see or missed the ROG double bottom breakout, there's a retest opportunity right now. Please don't run out and buy it, though. Evaluate it. See if you see it first. Options are very expensive today, so tread carefully.

Brett,
Can you take a look at GGP for a put play and let me know what you think? It's up there at resistance but the previous 2 days concern me.

TIA

Anyone interested? ...

Tom Sosnoff is hosting a Master Talk session on Market Volitility at 4:15 Eastern time today. To register go to the Investools website and you will see to register for it at the top of the page. You will get an email right back with the Event Number. (It's free.)

--Patti

Joel and Strat
Congrats guys. Joel, I have been using some shorter term charts but the stocks I have purchased options on all seem to be running 4 or 5% one way and then turning around and running about the same the other way in the same day causing me to get stopped out frequently. I think I need to look at stocks with smaller ATRs and go deeper in the money. I also just got the book Jeff recommends for options and I will be doing a good bit of reading this weekend. Thanks for the encouragment guys, I appreciate it.

Patti,
Thanks for the heads up on the Tom S. talk!

Thanks for the heads up on the MT Patti - I will check it out.

DG-

It appears that the stock recently broke the downtrend, so I'd probably steer clear.

This is a really tough market, and whether you take a put or call trade, it should be a really clear trade with no question.

Just my opinion.

Thornburg Mortgage (TMA) jumping off a cliff today, down 16%. Get your trigger finger ready on some of the other lenders (IMB, CFC, etc).

Luminent Mortgage (LUM) also going under:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_kMgGUZyGVQ&refer=home

Joel R.

Laney-

The reason for the declining volume pattern through the H&S is because that indicates declining interest in the stock and diminishing buying power during each leg of the formation. In other words demand for the stock is shrinking. Less demand=lower prices (kind of like supply/demand theory though not sure how far you can take that analogy with stocks).
That said, just because volume doesn't decline during pattern formation doesn't necessary mean it's not a H&S or not bearish, it just departs from the textbook definition and may warrant closer study.
I would watch for a spike in volume though when the price breaks the neckline. A broken neckline on high volume suggests the bears are winning the fight.

Matt

Oh, and regarding CAT, it does look H&S -ish but for the volume (as you said) however, I think we're seeing a lot of stocks with increasing volume across the board for the last several weeks in part due to the crazy market action. So I wouldn't rule out that in fact a H&S is forming on CAT, just not textbook.

Hey Scoot,

I stay away from day trading options. I've gone long and short the DIA for short trades. The swing in options prices is just too extreme. You're timing has to be perfect to pull it off.

Joel R.

Thanks, Matt. I appreciate the reminders to look at volume, it's the one TI I most often overlook. I am still new at this but I am getting better.:)

HANG on for the ride folks.

LONG Jeff Kohlers trading blog and music videos

SHORT money

Jeff,

I'm another watcher and OA who is finally stepping in.

I really appreciate what you have been doing to share your knowledge and experience to help others. I've found my inner trader over the past year, and a lot of those skills have been learned from the Marketcast and this blog.

Regarding watchlists: As with most of the traders on this blog, my trades are my own. I have always done my own searches and looking back, I have gone with more of my own findings than those that have been recommended. However, I've gained more by watching you analyze the stocks patterns and risks, as well as how you adapt to the dynamic markets on a day by day basis. I would be just as happy if you wiped out the name of each company as you go over the charts. Each trader need to be able to think for themselves and confirm by reading the tape. The market changes faster than any blog or news feed.

Option Addicts,

I've seen some discussions on PCP today, wow... 12.5% spike down in one of my favorite option stocks. The dip was even slow enough to catch, but I can't see doing anything bullish beyond one day...

I've also been seeing a lot of discussion of day trading ideas, as a working stiff, it’s difficult to stay on it all day and any reasonable stops have a strong chance of getting taken with this volatility. However, I can still work with short term trends, I prefer the 15min bars for that. Out here on the west coast, I have 1 to 2 hrs in the mornings and the last hour to available to trade, and those are most important. I really like the options on the Q's. They have lots of volume, so you can practically watch the charts for the options themselves, and more important, that liquidity drives a tight bid/ask (in the penny range) for low slippage and allows you to position stops closer to targets. Also, I have less concern for over-pricing as it is all about differential swings during such a short time period.

Long: the Q’s

Short: the Q’s

I have to post as anonymous as I can't get this new login to work...

Best Regards,
David Woods
El Dorado Hills, CA

Hello all. I'm traveling today. Going to pick up my family in TX. Watched the market until about 11:30am, then got in the car. Now stopped at a Starbucks in Gainesville to see the close.

Unfortunately, I blew it with CMG this morning. By "blew it", I just mean I let all of the "negativity" of the market get to me and I sold early instead of following my rules and waiting to the close. Ended up selling at just about the low of the day. I hate that!

Still have a nice 200%+ profit on the trade, and likely I would have been out by the end of today anyway, so I'm trying to shake it off. I just HATE IT because I was so, so, so, so patient with that trade all the way up to the end.

At least at this point I got slightly more than I would have if I had sold after the earnings pop. Hard not to miss those virtual profits but those are the breaks.

Now I'm just trying to figure out what to do next.

i threw in the towel and sold my aapl call today, 4 minutes before it hit the days low, and has been climbing ever since. Ouch.
I glad this roller coaster ride is over in a few minutes and we get a two day break to regroup

long: Kohlers blog

short:nonalcoholic drinks this weekend
gh
long island, ny

Joel,
I don't generally day trade options - I just do it when there is a lot of momentum in one direction or the other. I actually do OK with that strategy. I have also done well since I started trading full time (last month I made money on 48% of my trades with about a 20% increase in value of my account). Its just this last week has me getting whipped out at a much higher rate than I have been. It's been very frustrating.

Brett,
Thank you on GGP. Interesting that you interpret the recent price action as a trend reversal. I'm not sure I'd agree unless and until I see a higher high and higher low. It's so good to have another set of eyes though. Thanks!

Those GGP October options are cheap. The 55s are practically all intrinsic. Could that be a warning or a gift?

DJ,

For what it's worth, I like the GGP trade.

So did anybody take my ATW trade? Looking good so far!

What a day! I was able to watch the market all but an hour or so today which is really rare. So I thought I would paper day trade and I got killed. I should NOT have used options but the stock as that is what killed me.

My real $ account up $1.64 right now! As you probably already know mostly in cash. Looks like after hours market is giving back the last hour gains. Wow, there it goes...

New milestone for the Doji Girl...

I am pleased to say that as of the close today my account has made a new 52-week high! Thank you to Jeff and all the rest of you who contribute so much energy to this community. I couldn't have done this without you!

Have a great weekend (I'll be checking in, addict that I am). I will be dancing tonight instead of drumming.

DG-
Congrats! and WOW, I am so impressed!

DG-

I didn't mean a 'trend reversal'. just that it looks like it's broken the upper trendline, which you could easily argue it didn't. It's pretty close, and you could say it's at resistance area. today's candle looks promising.

I see 2 better entries in that space though: MAC and BXP. Both have similar setups to GGP. Both at 2 levels of resistance. Both with nice candles today. Seems like these 3 stocks should follow the sector.

Here's my market analysis. Keep in mind that this is all technical-based. The way news works around here these days, anything's possible.

THE VIX - let's start right there. Volatility at an extreme when compared to RECENT volatility levels. Abandoned doji candle way up high. If this thing confirms lower Monday, I see the potential for a MAJOR reversal in the market.

DOW - Bounced off a long-term trendline for the 3rd touchpoint (the first 2 were 7/06 and 3/07). The Dow is still below horizontal support, but near enough to consider it still in a support area. a doji candle on the day.

NASDAQ - Interesting how i'm hearing on TV all week about how strong tech is, yet the Nasdaq is now below TWO trendlines I have drawn, intersecting right at yesterday's close. A doji on the Nasdaq today too.

S&P - Probably the most important index, it is still in a support area, with a doji, but this index doesn't look too strong. There's virtually NO order to the last 2 weeks of trading. It looks like a dartboard.

Both the Nasdaq and the Dow look like head and shoulders reversals to me ready to break down. I'd say there's some hope for the bulls still due to the Vix and the strong finish today, but I'm treading carefully. A major rally early next week will have everyone talking double-bottoms, but an early selloff to start the week will make today's intra-day action seem like a calm breeze.

Have a great weekend everyone! Monday we go get 'em!

Hello Addicts..

Just got back from baseball (lost 6-4 in a tough game, with two outs in the last inning we loaded the bases but just could not get it done)

Anyway, good news is the money being made here has been great. I see I missed another wild ride, but oh well, such is life and its obligations.

I predict the rest of the year we all make some serious $$....

I will consult the crystal ball hard next week and see what kind of good trades we have to play.

Who cares what the market does...treat each trade and chart independantly, and focus on managing your risk....

Jeff Kohler..thank you for the opportunity you and this blog offers. I would like to reiterate my tyrades of this past week one last time before I go out to dinner..


But I won't.

Have a great weekend everyone!

That's all I got.

(and thanks Brett for yet again keeping me updated all day today..not jsut a life saver buddy, but an account saver too...I owe you some Yuengling brother)

Brett, thanks I had to print that one out. I have run to another meeting but will review this over the weekend. It is like our own personal market commentary delivered to our inbox. Oh and boy do I agree with that SPX looking like a dartboard.

Raimo, sorry about the loss. I was told those are character builders, did your parents tell you that too?

anu, bob(and pam), strat

thx for the info. and congrats strat for going to full time trading.

brendan

Brett,
Thanks for the great commentary. I also was looking at MAC and BXP and perhaps I should have selected one of those. For some reason, I crossed MAC off my list late last night when I was looking at these though I can't for the life of me remember why. And as for BXP, well, having flown on the CEO's private jet a couple of times, I'm having a tough time shorting his company. That's silly though. The chart does look better than GGP.

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