Jeff:
I am happy to say I traded ATI today.
Thank you for all you do at IT and on this Blog.

Wherever she goes, I bet Miss South Carolina needs to ask for directions.. . .

I'll bet South Africa and The Iraq are about this, and such as, maps and such as...

Thanks for the watch list. JCP, was watching this one.

Too funny from blondie, sent to some friends.

Brett,
I just believe that US Americans don't have maps.....

I'd bet every penny I made on AMGN the past three weeks that she's part of the 1/5.

I'd like to suggest a pairs (pears, Paris, pares... that's still got to be one of the funniest MarketCasts ever) trade here:

Long: collective intellect of the OA bloggers

Short: collective intellect of all beauty pageant contestants

It's not a beauty pagent, it's a scholarship program! LOL

Poor thing. I wonder if she heard the question correctly.

Guys,

Please announce clean cups. I am sitting here reading these commencts and cannot make head to tail out of them LOL. until i found out there is a new topic of discussion now.

Man for a second there I thought the blogs has gone nuts.
unfortunatley I cannot see videos from work so have to wait till tonight. Till then I have to trust it was clean ;-)

Michelle,
I am in ICE. doing very nicely today. Target is arround 120. but first it needs to pass previous support at 130

h2d,
I put on a Provo trade that week and I may have to do it again this week on the mention of it.

Short:SPF

Long: BPHX

ARTY

I'm so embarassed for that poor girl I can't watch that video the whole way through.

She may have given a stupid answer but at least she wasn't caught getting drunk and shaking her bare booty in a public bar.

Or caught propositioning a police officer in a public airport restroom.

Or caught "smoking cigars" with the president in the oval office.

I'm dang glad nobody asks me tough questions on national television. Because I'm definately not smarter than a 5th grader.

I can, however, find Michigan on a map because it's shaped like a giant mitten.

:-)

I think I talked to Raimo about this trade a while back. Any way if I am in puts on RTI is that any different then ATI really?

Cheers,
ARTY

Arty,

Provo Spain?

Jeff,

Maybe you need a refresher course..HEEEYYYYY!

-Frieda's boss

I was waiting for that Brett.

Always on time.

So like, we were in Portland, OK? Such as on the west coast, OK? With lots of you US Americans. And we had a totally awesome time, OK? But now we're back to South Africa where we live. If only I could find it on a map. Huh. It must be near the Iraq. Help. Someone send maps.

The bad news is that we had to leave Portland at 3:10 this morning. The good news is that we saw the lunar eclipse. The bad news is that I saw some blonde in a turquoise dress running around yelling something about the end of the world as we know it. The good news is that's not necessarily bad news. The markets seem to agree with her.

Haven't been able to catch up on all the blogging, but will this evening (if I can stay awake.)

liz... if you're out there, was that your recipe on 'da Cast? The Bailey's fruit thingy? If so, let me know next time you're having a party. I'll be there. That sounds AWESOME!!! I think you should make a punch bowl full of it for the OA get together. Mind you, I think we'd have to fish Jeff out of the bowl.

What did everyone do today with puts? I had about 11 going and sold half. Last time we had a big move down like this, the Fed stepped in (after hours) and the ones I had a profit on disappeared before the opening bell. So don't know if I did the right thing, just trying to play it safe. It feels weird to take profits when a stock hasn't broken support or resistance and hasn't met your target.

Michelle

Raimo,

Waiting, Waiting, Waiting........


PP

Chris-
You guys live in South Africa? I thought it was Venezuela. Oh, wait, you guys live south, not north of US Americans. Maybe I need a map. (I have to say, I felt really bad for her. It was hard to watch)

Did you have fun watching Michael Buble? That's very cool that you guys got to see the lunar eclipse.

And yes, the Bailey's fruit dip was from me. It really is good. And I'm not kidding about people trying to lick the plate at the end of the party. ;-)

liz

Liz,
Can you post or give a reference for the Bailey's Fruit Dip.

Michelle-
I had to leave about an hour and half before closing and when I left nothing had made that significant of a move down and since my husband was left in charge he left everything alone. I'm going to have to wait and see what tomorrow brings.

liz

PP-
Welcome back. You were in Chicago. That should narrow the search down somewhat.

Sean M.
Did you want me to post the recipe? Or are you not sure what Chris is referencing? Jeff & Eric read one of my recipes on the marketcast. They've taken to reading weekend style recipes on Fridays. Like for parties or a BBQ. Stuff like that.

liz

I would like you to post the recipe Liz. I don't write fast enough to write down the MC recipes.

Thanks!

Jeff & Arty-

Shame on you if you haven't picked up the Jane Doe Special Edition DVD yet. I don't know why that, the Big Lebowski and Rounders haven't all been added to the Option Addict bookstore. It's required material for this blog, after all.

Liz, I had Pam come in to write down your recipe that way I know we will have the fixin's to make it. I have a killer Bailey's ice cream desert that people lick the glass, the spoon, the blender...

Just based on your selection of recipe I know Pam and I will like you. We still need to meet.

Michelle, I was looking for more puts today but most of my entries were yesterday and I missed them all. So I guess in the end we have the same result just I had no profits. (read you could have done worse).

Bob-
Now that our oldest has started school part of our life seems to have slowed down a bit so it should be easier to get together. This summer was crazy busy. I still have your email so we can email each other and see what we can do.

liz

Logan-
I'll email it to you later tonight. It's super simple and surprisingly good. Maybe you can pair it with some PNRA (bread) or some CHFR (fruit).

liz

Okay, that was a lame attempt at being funny. Oh, well.

liz

Liz,
Why not post it here? (I don't recall it being too long).
I did write it down, but heh heh. . not sure I can read my writing.
Pretty please? I have guests coming this weekend. :D
Lori

Did that remind anyone else of "grovel, grovel . .bend stoop (something) crawl."
Lori

PP...

Trust me, it's being drafted...

Brett,
I slept outside the store for that DVD like it was an I-Phone. I got it early.

But I couldn't get to your post in a timely fashion because there was a manure spreader jack-knifed on the Santa Ana, you outta smell my shoes.

Michelle,
I sold my $RUT (short term/Day)puts, Healy's and CFC puts when the market tanked last time. Then I held the rest except MSTR (expired), till today. Since I still have not hit my targets I am waiting. Why, lower highs, and lower lows on the markets. And when the market took off I lost all of my premiums. Make sense?

CHeers,
ARTY

Liz,

Missed your receipe. The one last week with the banana, rum, suger and ice cream had Ely and I dreaming. Need a good weekend where we can get through the suger buzz before trying it though.

I let all of my put's run today, however as a hedge I sold some OTM GS Sept puts against my Oct paper. It brought my Delta on my GS trade down, but now I am positive Theta and if it doesn't go below 155 I pick up another $480 smackers ;-))

A public service announcement. I have been reading and posting here so please don't think that I'm spamming. I just think we can do something to help reduce the opportunities.

Story ---- HOW BUSINESSES ARE UNBEKNOWN CONTRIBUTING TO UNDERAGE SMOKING.

I witnessed 3 young boys roll up with their skate boards to their local grocery store. Age, probably 10-12 years old. They sat back in a corner and watched people that we’re walking into the store. Their interest were peaked as a man walked toward the store with a freshly lit cigarette. They looked around the corner as the man walked by but were disappointed that he stood by the door as he finished his smoke. After a few more minutes, the pre-teens surveyed the left-overs of the cigarette depository which was a simple sand box on top of a trash can.

I wonder how many times this happens and how many businesses are contributing to “delinquency of minors” by collecting this contraband for them. One simple fix is a new depository that extinguishes and contains the cigarette.

Please publish this story to help raise awareness.

Okay Option Addicts:

(props to: Leslie from recipezaar.com)

This recipe is almost embarrassing simple.

Baileys Irish Cream Fruit Dip

1 (6 oz) pkg of instant vanilla pudding

1 cup milk

1/2 cup Baileys Irish Cream

1 (8 oz) container of Cool Whip
-----
Whip together and serve immediately or chill. (I think it tastes better chilled)

Serve with angel food cake or pound cake and fruit. Strawberries taste really good with this.

There you have it. Super simple. I hope you all enjoy it. Just remember that there is 1/2 a cup of Baileys in there!

liz

Brett,
If you are not hooking Raimo and Sean up a for Poem off and you are not checking e mail could you please:

http://www.youtube.com/watch?v=a7LZRaHz0Q8

Cheers,
ARTY

forgot the "LY" after embarrassing. Hmmm.

liz

Liz,
Thanks for the recipe. It is simple but most of the best are.

Arty, Raimo and I on a poem off??. You need to come out of the Poet Closet and admit your true identity. How else can you feel good about yourself and become the poet that you have always wanted to be. Open up Arty and become the spokesperson for the MetroPoet society...that is...after your Brazilian. I wish I had the talent of the PP. Good luck on your hunt!!

Liz, I read right past that missing LY and now I feel bad for making Pam write the recipe down so I will print this out for her.

Arty, manure spreader in Orange County!!! That I would have to see.

The CAST keeping dying right at 3:03 anyone else have these problems with the CAST download? I had to skip to 3:59 to get it to start again so missed some. Ok now it just stopped at 5:27!!!

anybody seeing bullish REE on the following....

KRE - Banking, I know, but if it bounces..

SYNA

UA

ZUMZ

OSTK

??????????

Hey look I figured out how to put a picture on. Cool

Flying-Pro-
Very cool!

liz

Bob-
If you're having problems with the download from Investools (which I frequently do...)just go to iTunes and download it there. I haven't had problems yet and it just plays right through and if I have to pause it, it doesn't go all funky on me either.

liz

This comment has been removed by the author.

Bob,

And then while you're there, download "Challengers", by the New Pornographers, "The Stage Names" by Okkervil River, or "Armchair Apocrypha" by Andrew Bird. 3 of my picks for CD of the year so far.

Did anybody get into DIA over the last few days? Bought the 133 puts two days ago and saw a nice run today. Looks as if 130 could be support but if through that maybe another 5 point run down? Worried about the bounce back effect tomorrow any opinions?

Did anyone notice how well GMCR held up today on increased volume?

Hopefully a break to the upside tomorrow.

Rd

Brett-
Nice taste in music.

liz

Brett,
Did you play the $SOX?

Michelle

Flying-pro,

UA looks the best to me.

I'm also in some DIA puts.

Dave B.

Liz, I have not yet tried that so will have to, thanks.

Brett, I have a strange taste in music (based on what is popular) but I will give it a listen.

Education time! Could someone that has mastered patterns tell me what a sym tri with a break down and a longer term cup and handle (2 yr but Jeff used 5 yr) on DIOD means? Can you (me) trade the short term down break for say a month or does the C&H pretty kill the deal? Call me pattern learning sponge. Oh and thanks for the help.

td,
I've got DIA puts also. Right now I have it sitting perzackly on a fib line. Tomorrow should be interesting.

Disclaimer: What I am about to say is very mean.

I'll bet Ms. South Carolina's watch list is made up of Gucci, Coach, Prada, Tiffany, Movado....

'nough said.

Kim

RD,

Got into GMCR on Monday and I liked how it held up yesterday as well. But I've still got my line in the sand on it in case it decides to play sympathy to the rest of the market.

Kim

Great video....

I'm in love <3.

Jamie

Kim,
Shame, shame, SHAME!!! Saying such a thing such as that about a poor young girl who grew up mapless.

I certainly saw many a day that my stocks did really well when the market tanked, only to have the reverse happen on the day that they bounced back. GMCR looks good and if it does the "Symapthy Dance" today, I would read it as a great entry point. If it starts lower, I'd even bet that an intra day purchase might be in order, as it wouldn't surprise me to see to see a low start and then a jump up as the day progresses.

liz... Micheal Buble was great. He's one of those performers who makes you feel like you're sitting in your living room with just you and him. We were in the nose bleed seats, but it was a great show. Although the drive from South Africa was a bit tedeous. Can't wait to try the Bailey's recipe.

FlyPro, way to go on the picture. How 'bout one of the plane?

Bob (and Pam) DIOD does not have a sym tri with a downward break yet. Yes... it broke a bit down yesterday, but the volume was only 50% of the average. You need good volume to confirm a break. This one is ripe to bounce back up today. Watch the volume. The volume is your friend. I know Brett LOVES C&Hs and says that they tend to be one of the more accurate patterns. I'd anticipate an upward movement on this one.

Doji girl, I agree on the fib line. There's some horiz support here too. Should be interesting.

I'm off to the barn to watch our youngest one ride in her last competition of the year. If she stays on her mount, she's got a good chance of winning her division. Hopefully the four hours of sleep the night before last, and the jet lag won't hurt her.

See ya at day's end.

Can someone help? I can only post on Jeff's site. When you all move over I can't find the way?

Is that a bull flag on RADS?

Diana

Thanks, Chris as I evaluated DIOD that is what I began to see. If futures are a leading indicator today looks like we start with an up tick. I see some of the media announcing it as a bargain buying day.

Diana,
It's a bull flag In The Making. It needs to break out with some volume, which it might do this morning. It looks like a 2 point move if it does break out.

Someone please tell me if they believe in this apparent opening rally. AFter yesterday's action I would have expected some follow through, at least at the onset. Now I know I will have trouble sitting on my hands while I watch yesterday's profits erode.

Phantom Poet you’ve been waiting indeed
Prepare for the bulls I sense a stampede

Or maybe the bears are the ones in control
Makes no difference to me cause I’m on a roll

Trends and patterns and I follow my rules
And this here Jeff’s blog is better than schools

Now I read your prose you mentioned losses for all
Please speak for yourself cause I’m having a ball

I peer into my ball it is made of crystal
Losses for me are nothing but distal

Profits abound and I’ve avoided some wrecks
And yesterday a REE I took down CSX

You said hanging with me it would make you hurl
But unlike you I don’t read any playgirl

Now poets among us and many abound
But deep in a hole you live underground

My nemesis and friend, yet enemy as well
But the Phantom Poet in the end you are swell

When attacked by the Rogue you came to my defense
Yet on other occasions it’s an attack I sense

Phantom Poet you and your commentary
You’ve been hanging around like a dingleberry

Once again you’ve crawled out of your hole
Are you paying attention to LFC’s pole?

It has risen you see it is long it is tall
Rumor has it your pole can’t compare at all

Now we must wait and look for LFC’s flag
I hear it’s your chest that’s beginning to sag??

Mr. Phantom yes you’re a slippery one
I must admit though that my nemesis is fun

Now a Bloody Mary now you know I don’t drink
It’s a Yuengling for me I say with a wink

Nor do I drink a cactus, oh no
Ask my friend Kim she’s beginning to glow

Cute as a button Miss South Carolina
Like you she had difficulty with just a one liner

So Mr. Phantom now that your back
Are you paying attention to the ticker KLAC?

Trades there are many and I am willing to bet
A few doosies were taken by my ole buddy Brett

So listen PP this is all in good fun
Is it the bulls or the bears with who we should run?

The ball has been hit it is now in your court
Yes I’ll await for your next report………..

DJ

Thanks, I know it is a simple set up but after last week needed the confirmation I am seeing reality and not what I want to see.

Chris, as a fellow equestrian I wish your daught the best.

Diana

DECK.....REE.....

Brett,

One of your best.

Diana

Raimo, good one. Watching DECK but not sure I have the same support drawn as you. Dingleberry...that is too funny.

Watching the S&P looks like the rally is running out of gas as it gapped up and now all it does is go down. Another day down in the making???

Diana,

One of Brett's best what?? Can't find it..

Bob,

On DECK, I have a trendline (diag) starts at bottom of candle on 10/30/2005, and runs up to the bottom of the candle on 8/20/07, on 5 year chart..

Use at your own risk, lol....

RIMM, good entry point?
It seems to be holding at the 78ish support. Bought a small stock position.

Michelle

RIMM,

Been on my watchlist, but for me, way too far away from support to take an entry..does not meet my REE...

Raimo,

Brain Fart. that compliment was ment for you and your poem. I'm still chuckling over LFC pole

So sorry,
Diana

Diana,

I get those all the time, LOL..

Speaking of flagpoles..

RIMM created a flagpole and is currently flagging,and current price at the upper resistance. Need a breakout here with volume...keep it on your list...

May happen today, may not..who knows...we wait for confirmation..

Question for the group mind:

Is the anticipated Fed lowering of rates going to happen before or after next expiry? I want to take a trade on MA but options are way too pricey so I'm thinking a short spread. Concerned that if rates get cut that could benefit MA which would go against my trade.

Raimo,

that was one of your best.

I better not get on your wrong side ;-)

DG,
I actually sent an e-mail to Eric and Jeff asking about that. How did they know about the Fed lowering rates last time? What did they read or watch to tip them off? I don't know either.

Michelle

DG, FOMC meets on Sept 18th & 19th.
Sept Exp is 21st. They won't do anything before.

Jamie

Check out the cup & handle on ASEI.

It is about to break out also and has some volume behind it

Doji Girl,
I'm with you about watching profits abate a bit. I have the patience of a day trader (wanting to trade a lot more), but the risk tolerance of a much longer term. It's hard to wait it out.

Barbara

Clean cups...and a conference call.

Raimo, thanks I see your line now. I had to go a bit longer term as I use closing numbers for my lines but now have my line at REE too. NOt sure I am brave enough to jump in though as the market seems to have more downside.

Barbara, well said and I can relate to that directly.

Doji I got into MA last week and it has paid off very nice but I think it to late for an entry, just my 2 cents

The Clean Cups seem to have disappeared...was going to thank Jeff for giving so much of his time to us. THANK YOU!!

Wahly,
I was looking to sell a bear call spread to capture premium for the next couple weeks. I don't require a big downside at all for that to be successful.

Doji I could see a bear call on MA working

Would this be DIRTY CUPS?

Awesome call Jeff thanks for taking all the time you do!

Cheers,
ARTY

Is FLIR an awesome REE? I am pretty new to spotting the price pattern.

Cheers,
ARTY

Anyone else feeling a huge selloff is imminent?

It was a nice rally today...right up to resistance. Use it to clear out your weak longs and add to some nice short plays that you may have felt you missed out on. The head and shoulders reversal on the DIA daily chart should hold, and we should have a nice rally...DOWN.

Brett,
That is so weird I was going to post something similar to what you just asked. And I do not know why, but I think we might break 13K today.
"Bow and Arrow.......very weird".

ARTY

Brett,

Thanks for that comment. I have watched the market through my lunch hour. I hate to sound like kramer, but I wanted to yell out. "Sell, Sell, Sell" at the computer. I think I am in good shape either way it goes.

I was thinking about selling a GS Sep 170 call and also a 175 put. Is that another straddle play? I figured I could pick up premium all through the weekend. I chickened out in the end...

Clean Cups!

Okay Brett and okay Arty...
You both think your real smarty
Enticing the bears that makes me nuts
Don’t the two of you have any guts?
I hate to be on the other side
But with the bulls I have to reside
I cannot sit here and remain quiet
Nor do I look to incite a riot
I do fear that you guys could be right
But I am not going down without a fight
Bring on your bears I will swing with my sticks
Can I please get some help from the good ole VIX
Where the hell are my Bulls they are leaving me stranded
Running with the bears I hate to be branded
So Brett and Arty put up your dukes
Let’s fight off the bears they are nothing but flukes
Come out of the dark side step into the light
Cause Raimo here is going to fight……

Hello all. maybe going down next week for sure. Call me crazy, but I found it highly suspicious that a ton of bearish news came out all at once in mid August and its been quiet since. I think the banks will decide to give their bad news all at once to push the prices way down and create a buying opportunity for themseleves. Who was it who said that the little guys go out of business and the big banks get bailed out? I forget.

Jeffy boy thanks for the conference call. Congrats on the year you made 300%. I dont know if my comfort zone could handle that but I am sure trying. Enjoy the rally while it lasts.

SFM