Wishing You Were Here

For those that are not in attendance here in Chicago, you are missed. We had a casual meet and greet after the opening reception on Sunday night and took a large group photo. I'll upload it as soon as I can find a USB cable.

The live Marketcast presentation starts at 7 a.m. and after that I am scheduled for two breakout sessions. It will b a long day, so hopefully all of you out there can hold down the fort while I am passed out.

For those that are here and were looking for directions to tomorrow nights gathering, here is the address...

Howl at the moon
26 W Hubbard St Chicago, IL 60610(312) 863-7427

Click here to map it

For those not here, we are wishing you were here...

Recommendation: Listen to tomorrows Marketcast

Long: Chicago

Short: Rain and humidity

can the marketcast be heard live on itunes or is this only for investools users?

also is that 7am central time?

thanks, wish I could have gone.


I thought this was an interesting article http://usmarket.seekingalpha.com/article/44972

hope you guys are enjoying the meetup! Hold one in australia.. hold up will I have to pay membership if you do that heheheh ;)

Have a beer for me!

Hope everyone will have a great time!! Pls. keep us posted...

thanks, Meena

Aussie Pete,

Great article. Today will be a day to keep the sick sac close by I believe. My bet is the market will have another 300 point range day. If I had to guess I am betting we will finish down for the day, but I also bet at 3pm Eastern we still won't have a clear picture of which way it will finish. Hang on folks and as they say on TV. Everyone be carefull out there !!

VIP is doing a 5 for 1 split on Wednesday for anyone interested.


anyone know where to log into the live MC??

I've been looking too with no luck finding the MC.

When Jeff said Live, I am betting that only the live people are getting it. I just chatted with student services and they knew nothng about the MC Live. Did however remind me that you could hit the MC button on the bottom to hear it nightly..........


I tried really hard to come up with some puts. Although these are not ripe yet some names are PVG, SNDA, TAP, BUCY, VRGY, TMO, and DVN. Like I said these are not great enteries here but may be worth watching.

I think if the market moves up some more and these get to better risk/ reward areas they may be OK.


This is my take. I will qualify this statement with: I am a novice trader, so please look at the charts and see what YOU see.

If the market turns down, I am watching ICE (H&S). It has already made part of its move Thursday. If it turns down from where it is now, the target is 120.

CME - I see a double top. If it stays below 540 and heads down, looks like a good play.

GOOG - I see a head and shoulders. If it stays below 500, I see about a $50 move.

PFCB is right at resistance.

These plays could all break apart if the market shoots up. They are just something to watch if the market tanks today.



We just finished the "live" Marketcast and it is in the process of being loaded to the website. For my Investools readers, you know where to go to find the recording. For my non-investools readers, go to www.investools.com and on the lower right hand corner, you'll get access to it.

We probably won't make it to itunes until Thursday.

I'll keep checking in through the day, have a good one!!!

Thanks JK!

I've never listened to a market cast.. hehe its 1am here - should i listen to it now.. hehehe

Flying-pro - thanks for your market opinion, its always good to see what everone sees in the market.

I see thinks whipsawing today - if there is any subprime mortgage news the market will tank :)

Hope you're all having a great time.

Jeff, good luck at your break sessions.


This comment has been removed by the author.

Take a look at BCSI. It is breaking out of an ascending triangle. With volume good so far. Its price held up well on the recent bearish activity in the overall market.



looks good. break out from a channel with a possible move of 8 points. earnings tomorrow 8/21

(cricket noises) sigh



Is that all you guys have?

Where's the party at?

to be expected with everyone in Chicago.


Thanks for checking in on us. So far seems like the market is doing what we thought it would after the Fed but the band-aid on Friday. Looking for Brett, Raimo and others for sure. Sure do wish we were with you guys in Chicago....

I know we shouldn't hope, but sure do hope GS keeps tanking all day today. Right now looks like that $170 mark is tough to get through...

I was actually hoping it would rally so I could short it. I'm sitting here, on my hands, itching to do something but not seeing anything 'compelling'.

I am here too but just do not have any worth posting, so all you get is this.

I am busy searching for good enties and not having much luck right now. Perhaps this is a good time to get some more studying in.

Oh, and I am eagerly awaiting the Marketcast tomorrow morning.

I am with ya. Not enough movement in the things I've been watching to enter anything.


Hi all you alsomissingthefuninchicago addicts.
I had 15 people and 3 dogs at my house most of last week, so I missed out on most of the busy blogging (just caught up on the last thread). And now I'm feeling sorry for myself for missing Chicago. Oh well . . .guess I have some extra study time this week.

DG - thanks for sharing the sentiments. I love being reminded of all the connections and how essential it is to go quiet every so often so as not to miss them. "Except for the still point there would be no dance . . . and there is only the dance." (T.S. Eliot)

2 of the 15 (very special) people and 2 of the dogs were from Boise and I have now sent them back home. If you run into them, buy them a drink, ok?

The dogs take perrier, the humans just about anything with alcohol in it.

Would someone please say something? The cricket noises are making me crazy.

hi lori,
it is very quite here today. The market it self seems to me quite also. It like the calm before the storm. But I do not want to say that since I am very concerend about folks down south batteling the Hurricane Dean. Hope everyone remains safe during it.

PS. now market seems to move up again :-)

I'm watching GOOG retest 500. I rode it down 20pts(last week) and got out, now am thinking about trading it again if 500 holds as resistance.

+++++++++++++++ Man Survives Airplane Crash +++++++++++++++++++++
----------walks home, feeds the dog, and shorts MER-----------------

Good day all. I have finished my simulator and survived all sorts of horrible events that would have left lesser men crying.

I read a really interesting article on the weekend that explained a lot about why this whole sub-prime thing is going to affect a lot more than just the financials. There's a lot of companies out there that were duped into buy AAA rated mortgages that had been "created" from BBB mortgages (thanks to the big rating firms like Standard and Poors) and these companies are going to have to create money to get out of them. No one trusts a thing that Standard and Poors has rated now, so there will be no market for these notes. Consequently it's going to hit a lot more than just the financials, and no one really knows how many companies will be affected.

So to make a long story short... I'm out of almost everything right now. I have a few shorts on some stuff (BTU,,BXP,CAT,MAC,MER,RATE) but I'm down to one or two contracts on each, just to keep my toes in the water.

I have a ton of stuff to catch up on as these simulator dates take up a huge amount of mental energy, to say nothing of the time taken to prepare.

Can't wait to hear the Chicago stories.

Hey Option Addicts-

It really is quiet. Sorry about the crickets Lori.

Today was my oldest son's first day of school so I only checked the market at the open and made sure I had some stops in place and then when I came back to check the blog my computer started having problems. Of course...

I'm pretty much out of everything as well. I have one call that's doing okay--- AMLN. It's hanging in there. Nothing spectacular but it's still within a good range so I don't really have an excuse to get rid of it yet.

Glad your flight simulator stuff went well. I hope you wore your OA gear underneath your clothes for good luck. Did you read about China Airlines? Scary.

Thanks for the information from the article you read. It hasn't started to affect anything here in Los Angeles just yet. It doesn't seem to have affected Orange County yet either. But we'll see what happens within the next few months. I know from a lot of the articles I've read that we could see a tremendous amount of foreclosures here in Los Angeles soon.


If Chris can handle simulator disasters, I can manage a few crickets. Thanks for the hellos, Mahmoud and Liz.
I'm out of just about everything, too. I took profits on some shorts earlier last week - kept single contracts on 3, but otherwise . . my account has crickets too.

And let's see now let's add a Chinese jet with a history of safety violations to the list and we have . . . Matel toys recalled; fish swimming in excrement in farm ponds; counterfeit diabetes home testing kits traced to China.
Can't think of a single reason not to be bullish on China.

I am out of almost everything also. I am keeping an eye on CAT, GOOG, ICE, to see if they roll over at resistance. GS and BSC seem close to rolling again.

Hope everyone in Chicago is having a fun time.


Hello all,

Dan and I are preparing today to fly out at "zero dark thirty" to Salt Lake City tomorrow for the IT Three Day Course. We only have one contract in XHB, HNT, PETS, and GGP as well as the long term BNVI play. That's it. Pretty simple.

Because we'll be away from trading the rest of this week we wanted to apply the KISS principal.

I'm itching to get out of HNT based on today's price action but I'm holding fast. Unless someone else can convince me otherwise.


So I was looking at some of the realty stocks for a possible short entry and I can't believe the spreads. For ESS, the bid/ask is 0/4.50 WTF??? Similar for AVB. So even if I could buy it I could never get out. Reminds me of the HOtel California.

Clean cups

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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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