first off.....
Jeff good luck at the try outs this week !!!! take one for the team !!!

secondly...holy smokes!!!! i want every lunch break to be like this, tons of things screaming higher, all i wanna say is "don't stop, don't stop, don't stop" and go GRMN !!! finally

one bummer is my JASO order did not fill today, b/c it jumped the start line this morning :-(

well gotta get back to work, hope everyone is having a great day

From the west was a man of Burrito
Whose trade was incognito
Contrarian he went long
Soon he'll be wrong
And be annoyed like the bite of a mosquito

Well Jeff after being on the sidelines all year I finally jumped in. Interesting enough I signed up before you asked all of us lurkers to but it was the same day (any bonus points for being early?). I have never felt that I could contribute and maybe can't but if being a member helps I'm at least in!

Thanks both to you and to all of the OA's who contribute so much. It really helps. I look forward to being an official member.

Jim

P.S. - Lovin GRMN today! Up 51% in 5 days!

PXP......

goodnight...

Ok Raimo help me out here what say you when you say goodnight to PXP?

Looking forward to a great week!

I am considering a new strategy that I wanted to vet with the group before I jump in with real money.

It maybe a bit short sided, but here is the idea:

Background: I have noticed a trend in the posts over the past few days. It has been such a strong trend that it is hard to ignore. So after taking the weekend to do the analysis, I have come up with a sure fire system to capitalize on it!

Here it goes:

From now on, I'm going to do detailed analysis and ONLY take positions in trades involving symbols starting with the letters "SN". Currently, I'm looking at the following: snDA, snCR, and snDK. I am also looking at SCHN even though it doesn't technically fit the pattern, the letters are all in there.

I may be on to something.

fine print: obviously this is meant to be funny. Please do your own analysis before entring into any trades :-)

PXP Goodnight...

Bouncing off resistance, heading lower, LIGHTS OUT BABY..

WCC and LAMR.

How far in front of these trades did I put you guys?

(Hey, Jeff's not the only one here who can toot his own horn!)

Whew thanks Raimo cause I shorted PXP, I'm there with ya, heading down....

Lori,Sam you all over this one?

AXYS - breaking out on big volume (thought I was going to get a pretty little handle on this one but it didn't bother).
CY - keep your eye on this one, it's been trying to break 28.50. Semi conductors heating up.

What is up with CF over the last hour or so?
Missed this yesterday, is it giving us another chance?


Barry G

Hey guys

Here's another nice put play, we got in on 9/19 and it's looking to break resistance at around 130
SHLD

grant

Brett,

Not trying to "toot" any horns.

It's my trading blog. Whats better than talking about what I am trading?

I could always go back to reality tv...

Jeff....

Please, no..no more TV bogging..

Jeff,

Don't sell yourself short. You're an excellent slouch!

Raimo,

Why didn't we just split a straddle on ICE?

Yep, the best in the business!

Slouch, that is.

Jeff,

Well, your'e my kinda slouch..

Wahly,
No, not in that one - we seemed to be a little short-heavy last week. I am enjoying the SNDK downward slide, however - along with the GRMN ride back up.
Lori

WCC, thanks!

VSEA, outta here! Sigh-a-nora baby!

Kim

Kim,

Are you short VSEA??

Kim
What are you seeing on VSEA which looks weak?
Desending triangle beginning Sept?
Obviously if this stock turns down, now would be the time to get in. I am just not seeing much of the weakness. thanks
Barry

Jeff,
How do you keep know how you are doing if you don't keep score?

Judge Smails

PXP - Oh Raimo you shouldn't have.

Raimo,

I'll speak for Kim as her husband (which by no means obligates her to agree with anything I say or do...typical disclaimer statements...)

We we had Calls in VSEA but I got us in at a bad entry.

Dan

SNCR...iPhone play of the year.

Did anyone take this on my reco this am???

BIDU just cracked $300 Thank You Jeff!

VSEA,

Now, now Cpt 1Lot we're in this together. With that said VSEA broke through my 3% below support rule with no seeming end in sight. Sold at 2.30pm. Even though we had a bad entry we still played the chart for the exit. I'm following our rules.

Kim

AVTR looks like it's made half of its move not looking like it is going to retest resistance just yet. stock should drop more currently on its two year low..

VSEA I also bailed today, following my rules.

Brett, I learned from your comments about your entry with volume on VAR from last week. I traded 2 contracts with an exit based on a time target instead of a price target, suggested by Raimo. Made a nice profit for a 3 day trade. Thanks!

CROX ascending triangle breakout. It's got the volume and looks like it will close above $60. So much for the escalator hazard.

Joel R.

Lori,
SNDK nice,I missed that one, GRMN gotta love it

Does anyone have any perspective on DIOD? Is this movement a kind of retest?


VeroBarbara

VSEA- I bought the stock on 9/18 when it was at horiz and diag support, roughly 52.3 Today it fell to that intersection price again. My stop is 3% below that at around 50.7. Long way of saying I wouldn't give up on this one yet.

Peter

I'm back from the orthodontist so now I can tell you my VSEA play from start to finish.

Got in on 9/12 at what Cpt 1Lot perceived as a bounce (he was beaten with C2's hammer wildly that night). I have a trend line drawn that touches the bottom of the candles on 7/11, 8/17, 8/18, subsequently 9/17. Based on our rules we should have taken the trade on 9/18. This was the bounce day. I had this as a swing play so my "out" line is drawn 1% below support, which it is still well below as I type. For those that have been through the 3 day live today was also my time stop day. I would have been willing to ignore the time stop if VSEA had risen today.

Anyway there is my thought process. Proceed to poke holes in it at will.

Long: good entries

Short: condescending orthodontists (that's another story for another day)

Kim

I have a question about setting targets. I am in HANS and am up over 100%. Because the stock is the highest it has ever been, I am wondering where to set my exit. I originally decided to use the Fibs and that has kep me in the trade and making money.

Now that it has blown through the 100.0% Fib, it looks like it is headed for the 123.6% Fib which I have at $57.35. Should I just hang until it hits the Fib and my indicators begin to turn?

I know that I should have had a target before getting into the trade and basically I did, using the Fibs. I am better with setting targets on price patterns because it is not so mucky.

Any input?

LCAV...bombs away.

And Raimo, I know you're gone right now, but your ICE is melting.

Who took the wind out of BCSI's sails? Oh well, another day.

Kim

Laney,

Have you TRIED the Loca Moca? The only exit you should be looking for is the one by the checkout counter. Get long HANS, stay long HANS and stock up on the Monster.

Anyone holding BIDU... you people should have gotten out a week ago. I hope you're happy now. I keep telling you the calls are way too expensive. I'm glad I never got in. I'm glad I never got in. I'm glad I never got in. If I say it often enough it'll be true.

I sold half my POT on friday and traded it in on HANS. Good news on both fronts. GRMN is finally paying me off for being such a gentle coddling man of the 90s.

Brett, SNCR looked like it still had buck or two to go before support. What's with that?

SNDK would have made a perfect entry on Friday. As would CROX. I TOLD you it was going to do something. This is a good breakout on GREAT volume. Back up the dumptruck. Brett, you're a pattern guy... do you see this re-testing 56 or 57 before shooting up?

For a second opinion on HANS you could try the Big Black

Frankly, Brett, I am afraid of the Loca Moca! I don't sleep well as it is, the last thing I need is to be all hopped up on Monster Java.

I know this is a good play that I am in and I am getting better about my exits and targets but when a stock is reaching into unchartered territory I am left in a quandry.

Brett,
I did look into your idea on SNCR, researched it, decided to take it down, and it just did not fill on blast off! Nice. Oh by the way, No offense MR. Raimo, ICE?????

Cheers,
C4

crox looks great. no need to wait for a retest

Chris,
Yes, all of the BIDU holders have money, but are they happy? I mean truly happy like you and I who keep losing money on CROX. :-)

Did EXM conform its breakout today?

C4

Brett,
Thanks for LAMR, another great pick.

Anyone like the Titans over the Saints tonight? I'm taking them to win for +185 on the moneyline.

Chris, I totally agree with you on BIDU. I'm glad I sold that Sept PUT vertical instead of buying the long calls. That $1.35 premium is ALL MINE!

Ode to GRMN,

How do I love thee? Let me count the ways...6.13...6.23...6.33...etc.

Brett:
LAMR was indeed a great pick.

The FOMC action is a distant memory for the Home Builders. Hope a lot of you addicts are still short on these.

You call EXM a breakout confirmation? I may need a refresher course.

On a down day there were a heck of a lot of breakouts and big moves the the upside!

Calls going up, puts going down, dogs and cats living together.

Laney,

On big MOMO plays like HANS i use the 10 day MA. If it breaks below I am out. Let the winner run. If you lose a bunch on the last day of the run, oh well. The harder part is figuring out where to add to the play......

JMHO

PS. I missed HANS, but am long CROX and GRMN. Short ARO & CYMI

******************************
End of the World is Near!!!
******************************

All my trades went the right way today! This has got to be very bad for the fate of the world. Not as bad as dogs and cats living together but close. GRMN!! Only K didn't seem to know what to do today.

All you BIDU people, and you know who you are, I hope in the near future some serious counseling can restore your happiness. Did I mention I can do counseling over the phone and will give OAs a discount. I honor VISA, MC and all the major cards - share the wealth!

Oh and that goes for those in CROX, EXM and any other gappers was well.

Thanks, Flying-Pro.

I'll have to add that one onto my charts and see how it does.

Well today was interesting. Jumped into CROX early and PXP (thanks Raimo) then had a medical emergency with my husband which left me sitting in the emergency room until after the close. (He's okay now).

The bad news is that I have puts on VSEA and AZO which went the wrong way and I probably should have exited them or would have if I was here. AZO is still borderline but VSEA doesn't look good at this point.

I got into PCP today about 3:30p.m. It had decent volume on 9/20 when it broke its previous high. And it seemed to hold at support today. Anyone else liking it? Looks like a good entry/exit point.

James H.

Long: BCSI, BOOM, CMG, DRYS, ELON, ERES, FCX, GRMN, HANS, NILE, NVDA, OI, PCP, POT, RESP, RIMM

Short: Don't Hate

Is that a bull flag down to support on OI? @40?

James H.

James, I really considered PCP today. I agree that it's holding that support from it's prior high but I am trying to hold to my rules of taking the absolute most compelling trades and I like to see multiple support touches to give me more confidence. PCP has a long way it could retrace if it does decide to go back through the level where it is now.

That said, I totally see what you are seeing and I don't think it's a bad idea. You certainly have a small loss if it breaks that level and it could work great! something just held me back today. Love that stock, though.

ICE, The debate...

This will be good...

I shorted ICE because:

1) It is in a downtrend making lower highs and lower lows.
2) I got in at REE, right at the resistance of the confirmed H & S neckline (142ish HZ resistance
3) It is at diag resistance (REE)
4) It is also at the resistance of a bear flag (retest)(REE)
5)If I am wrong, and I might be, I will be out with a very minimal loss because I got in at my exit.(REE)


I cannot justify going long ICE becuase it would be a violation of my rules, in that going long would:

1) be a counter trend trade, which is agressive and risky, I don't do it
2) I'd be getting in(today)at resistance not support, which is a poor entry for me. I like to get in at support, not resistance, when going long.

Now Brett obviously has a different take on this trade, for good reasons, just not mine.

This ICE trade is a PERFECT EXAMPLE why you should NEVER take a trade based on a recomendation. You must analyze the trade yourself and make your own decisions. Brett and I agree on most of our trades because we trade in similiar styles and USUALLY see the same things. Here is a great example, regardless of which way this trade goes, of two traders seeeing different things.

I hope this opens the eyes to all who blindly take advice without doing there own due diligence.

Raimo,

Great point. And to all those who agreed with me, it's up $6 in the after hours on the S&P news. If it closes above $48 tomorrow, it will confirm a double bottom and then zoom.

There's a lot that can be learned from this trade. Always look at the big picture, but don't forget about the small picture too. Raimo was right, ICE was a low risk entry in that it was at resistance. However, it's good to zoom in on the intraday charts to see what's going on at resistance. In this case, it's clear that there's all kinds of bullish going on. Clearly the S&P news leaked early today. At the very least, a bearish trade should have been avoided, in my opinion, based on the strength. Precisely since tomorrow morning, the stock is likely to gap higher and make that low-risk entry a lot more painful.

Don't feel bad for Raimo, though. Their erecting a statue of him outside the Chinese Stock Market as we speak for his complete ownership of it as of late.

Brett,

The statue has me holding a burrito in one hand, a monster Java in the other, and an options addict hat on..

China Stocks have been huge, especially all the gifts they gave me today....and I took them..along with GOOG, BIDU and more..

Good points Brett and Raimo. Whoever comes out the victor, I don't care because I have learned from both viewpoints. I am not in ICE by the way because I did not want to come between you two lovebirds.

Sean,

I love Brett for the pic he has been using. He knows it drives me nuts..

As for the victor..YOU are the victor for trying to learn from what Brett and I are doing.. posting about our opposite viewpoints on trades is a great learning tool.

I am thankful to have Brett as my colleage and friend..but mostly for his pic of Erin..Oh, and yes, for some of his picks too!!

Laney and Tim,
Right on brothers and sisters. BIDU sucks as a stock and all those that own it suck too. We, on the other hand, have Karma and Eternal Bliss. I don't know 'bout you... but eternal bliss wins out over cash any day.

By the way, what's up with LAMR? Interactive Brokers is telling me that I made 100% more profit today than I should have. Did it split or something? If so... I'm brilliant. OK... Brett you're brilliant whether it split or not.

Brett and Raimo... what a great debate on ICE. I can see both sides, but my call is that it's at resistance right now. I see it hitting it's diagonal resistance today and it'll head low. If I had to put money on it (which I don't) I'd say it's going to head lower tomorrow. Puts it is. Brett, I don't see a double bottom, all I see is a lower low and a lower high. Ignoring the fact that it's up over $5 in after hours trading of course. This is so COOL to see two very experienced traders seeing things so very differently. Jeff... what do YOU see?!?! A double whammy astro mega hammer doji? To me, it's so very obviously at resistance on a down trend. I don't get Brett's call on this one at all. And yet it sure seems like it's headed that way after hours.


Tim I agree absolutely on PCP. It's got a long way to REE as far as I can see. I won't take this trade in this market.

PXP sure looks nice to me. I want a few puts to take right now, so I think I'll put in an order for it. I'm in the air until around 1:30 tomorrow, and so far I've had luck putting in orders for stuff even though I'm not around. Must be the Mercy Gods that are looking out for me.

Bob (and Pam) I'll accept your offer for councelling. Although I'll use it later because today was a great day. Puts and calls both did well. And yes, we will get those poor lost souls in BIDU back on track. One day we will rule the world and the poor BIDU folks will be looking around in bewilderment asking "what happened and why are we being left out?" They have too much money and deserve to be left out. We are the "In" crowd and they can only wish to be in our company. Right Laney? We will call ourselves the "Anti-BIDU" and the world will bow to us.

DG... Medical emergency with your husband? What's that all about? Catherine wields the hammers and I make it through the day and your husband can't suck it up and let you finish trading on the day? Was it a Nuclear (or Nucular as George Dubya would say) holocaust? Was the end of the world in sight? Tell him to suck it up, next time. All this "I would have sold if the husband wasn't in traction" stuff doesn't hold water with the banks. Tell him he can be replaced by a newer, more resiliant, model.

Brett & Raimo-
You guys have been busy. I really appreciate the view points you both posted. I was picking ICE for a put but then I looked at the 10 day that Brett was talking about and I see what he's seeing and now I'm just confused but hey... thanks so much for reminding us that we all see different things on the charts and that's just one more thing that makes trading exciting. We don't all have to see the same things to make money in this. We just have to find our own niche.

liz

Brett and Raimo,
Thanks for all the insight for why you both took the trade. My risk tolerance didn't allow me to take the trade with all I have going on, but I'll watch and see what it does and learn.

Michelle

DG-
I'm glad your husband is doing better.

liz

Chris & Bob-
I'm joining the anti-BIDU gang. I sold half when it hit my target and then I sold the rest of it the next day. LAME! LAME! LAME! I don't care that I made over 300%, I could have made like a bajillion %!

liz

Tim-
Agree with you as well on PCP. Love the stock but... that was the problem there was a big BUT on the end of that.

liz

liz
Don't tell anyone but if PCP comes back to 140 I'm jumping in. By the way tell Grant it was neat to hear from him today. You keep telling us that he's the outgoing one and you're Lucy Wallflower but I, for one, don't buy it.

And to quote a very, very good rock group... "Fat Bottom Girls they make the Rockin' World go 'round." So when you say "there was a big BUT on the end of that" you'd better not be talking about anyone I know.

Chris-
You're funny! LOL

liz

Liz, thanks. According to ER folks, he had a kidney stone. He's sleeping it off now.

Bret & Raimo, I love the ICE duel. I agree with Raimo's analysis but news changes everything. I wonder if the S&P news will have legs. Meaning will it really change anything beyond tomorrow's opening. I was planning a bc spread on it which I never got around to today so that's probably a good thing. It might be more attractive tomorrow.

Chris,

Thank GOD it's Catherine going pro.

Just kidding. Hey, if it's so clearly at resistance, you should have taken the put trade. Then again, you'd be down about 50% on your puts come tomorrow morning.

Brett,

If I am down 50% on my puts tomorrow morning, then you'll be able to afford to buy me my morning coffee!!

Chris,
I love your posts and your humor but I am very worried you might be flying a plane I am in. Do you still adhere to 12 hours from chuckle to belt buckle??

Anyone looking at NE for a triangle B/O?

Sean M,
Worry not, my friend. The chances of me flying a plane you're on is one in a million!!!! Hope you don't buy lottery tickets by the way. The chances are far better that you'll be looking into my peepers on a plane than that you'll win.

Brett, the thing that really sucks is that Catherine has the looks AND the brains of the family. I've sent a picture of our family in Portland to Jeff. You'll see what I mean. When she turns her mind to the trading thing you'll all hear a big sucking sound and it will be the sound of all the money heading to our trading account. Until then... you are safe. We'll see what happens tomorrow with ICE... at the close. Sure it's up in after hours... but when it closes tomorrow at or below resistance, it will make BPHX's flight to the sun look like a moth's flutter into a flame. A flash... a puff of smoke... and a smell like my grandmother's hair on Tuesday. Incidentally... thanks for that. My RRSP is indebted to you for life. Or until grandma's hair needs a touch-up.

DG now I feel guilty. I've heard that kidney stones are worse than child birth. A appologize for trivializing your husband's pain.

I appologize for saying "A appologize" in the last post. I was not intending to put on a southern accent. I am... as they say... of the north.

Sean,
Hmmmm let's see here. NE could be good, but it could also be a double bottom. The last two bottoms were at the same point (like a bicycle built for two) or the last one was even a bit higher than the one before. Could be the dreaded "Double bottom disguised as a descending trend." In this market, I'd want to be very, very certain which way this is going to go.

Dg,

Glad you husband is ok. My wife went through that last year and it wasn't pretty. It is called "Male Childbirth" because of the intensity of the pain. Bring him lots of water and lay off the soft drinks and anything acidic like vitamin C, orange juice, etc. Water is most important. Realize I am a Veterinarian and anything I say can only be applied to those on all fours...which I am sure your husband was at one point!!

Chris,
I see your point but I am not convinced it is a double bottom (or 2-butt) as I call it. I am not convinced of anything by the way. I will watch NE closely tomorrow and if I miss the entry, I will watch who wins the ICE contest tomorrow and jump on the winners band wagon. I am not proud!

Option Addicts-

Thanks so much for sharing your trades and the reasoning behind them.

It is fun (?!) to pull up the Prophet Charts and follow along.
I'm curious to see what ICE ends up doing.

What a great resource for aspiring traders....thanks again!

Lara

C2,

You write some of the funniest stuff I've read...seriously dude..I raise a mug of Yuengling in your honor..

Raimo,

I thought I was the funniest person in your life. I am hurt!

PP

Phantom Poet my friend indeed
My last post seems to have left you in need
C2 is funny my sides they do split
But no where as funny as the PP's wit
So take a chill pill I did not mean to hurt
And get real man and stop wearing a skirt
Lose the thong for boxers a must
And hit the gym and firm up that bust
Did ICE scare you too, did you take a pass
Or did you go short and show some hair on your ass
Now stand up soldier, man do not feel hurt
And get rid of that blouse and throw on a shirt
We're hear to make money to trade and to learn
And if I was Jeff I'd have money to burn

This comment has been removed by the author.

This comment has been removed by the author.

This is my last comment on ICE before I collect my profits:

I love the REE concept, but buying at support or resistance is merely a LOWER risk trade. It's only a LOW risk trade if you can evaluate whether or not this level is likely to be obliterated. A stock gathering strength as it approaches a resistance level is not a stock that you should look to short. Check ICE the last 10 days and you'll see that this one was ready to blow up.

DG-
I can only imagine... I had gall stones one week after giving birth to my youngest. I thought I was having severe heart burn that kept getting worse and worse. I ended up in the ER as well. A shot of morphine made me feel normal. Those "stones" are painful!!! One of my guy friends had kidney stones and he passed out from the pain. Not fun. But at least that's all it was.

liz

Lara-
Love your pic!

liz

Doesn't it look like the major indices are starting to flag?

liz

Thanks Raimo, I feel better.

PP

Barry,
saw your comment on CF, it was also on my radar and i bought a position near close today, i think it is giving us procrastinators a second chance

td

Ok, Liz and Chris Anti-Bidu it is. BUT (oh no there it goes again) and it is a BIG BUT I am not sure I can be seen with EXMs either!

Speaking of big buts, Liz you let Chris off with that? Chris what is the deal here? I see your where your mind is as there is a theme to several posts. And what is this about trading to a newer model, now you are playing with fire man! If you keep this up the End of the World as we know is close at hand for you. The Dr. is in and you need it more than you think - right now! Call quick before Catherine reads what you wrote.

Brett and Raimo, great discussions on ICE!

Michelle,

With all the blogging, I missed your post. Great job on taking profits..after all, profits are what we are after. Glad my rules helped you.

************* I am an Addict and I need help ****************

I am in Ottawa after leaving Halifax at 5:30 this morning. I have 10 minutes to get a flight plan and while it's printing I'm reading the blog. No time to respond to anything, but I just wanted you to know you should feel sorry for me and Air Canada. My name is Chris and I am an addict.

Now back to Halifax.

Incidentally Brett, if you're right on ICE this will be a huge lesson in reading charts for me. HUGE!!!

Raimo,
You're welcome. Looking at the market, I'm glad I followed the rule and took profits. Today might be a breather day.

ICE - I see the charts like Raimo does, but in premarket, it's up $5.

Gonna study this baby some more, so I can learn while one of you guys makes some money. Who will it be??

Michelle

Brett,
If you get a break today, can you share a little more on studying daily or intraday charts? I don't have much experience in that area and would like to hear what you have to say.

Michelle

Michelle,

It's really no different from studying daily or weekly charts. You just zoom in the time frame and watch for the same patterns, the same volume activity, etc.

One caveat is that it's far more helpful to know the major trends in the stock. Know the long-term and intermediate-term trends before zooming in on the intraday. This will give you perspective on how valid the move will be, what areas to watch out for, how long to hold a trade for, etc.

On ICE, believe it or not, I was watching a descending triangle setting up and was planning on taking a BEARISH trade at the upper resistance line. When I zoomed in and noticed the volume spikes on the up moves, I then was watching for the exact move the stock made, which was a breakout upward above my trendline, and I went long.

I haven't begun daytrading the intraday charts yet, but I definitely have found value in adding them to my arsenal.

After hours and pre-market looking pretty bearish, should be an interesting day. Best success to everyone locking in those gains from yesterday.

Thanks, Brett.
All the bloggers will probably be watching ICE the next few days and seeing what we can learn.

Happy trading,
Michelle

LEN released terrible earnings. Will be interesting to see how much of this loss was already factored into the stock price. Home builderes should all suffer today.

This may be digressing a bit but have to share this.

Beautiful day yesterday here. Decided to take a half day off and enjoy life a little. I live near Atlantic City NJ. I drove up to Asbury Park and sat an outdoor cafe near the beach. I looked to my left and Bruce Springsteen was walking down the street. I got to say hello and meet him. What a game changer for me. Anything is possible. Let's all make some money today.

Long: Game changers I have met Jeff K and Bruce.

Only 2 left to meet Brett and Raimo

Short: LAMR , SDS (really long)

Jamie

I WAS in LEN but rules are rules and we pulled out before earnings. Congrats on the gap for those that held.

What is up with GRMN! Will it give another large white candle today? Or what did Brett call them soldiers. Just amazing and finally!

Jamie,

That's cool!

Krystal

Jaime!! I am a Jersey Girl living in the south, we used to live in Forked River. I met Bruce once, too, at the Englishtown races.

Also short LAMR and long GRMN!!

That is cool Jamie! Did you get his phone number? ;)

Anyone else in AZO? It was flirting with my trendline quite intensely yesterday but I decided to hang and I am glad. Thanks, Jeff.

Does anyone use the tool at the bottom of the trade tab on TOS? It's what I've been using to estimate my selling price for taking profits on an option play. It worked well on my POT play and some others. In fact it just sold me out of GRMN on the spike. I know it didn't quite hit $120 before it sold (which was my price target based on a $15 dollar move from breakout of $105) but I'm not complaining.

Just curious to know if anyone else uses this tool because it's working for me.

Kim

Can anyone speculate on GIVN?

JC

Kim, not sure which tool and how you use it. Order book, Order entry...

Jeff said last night the POT was too extended for an entry unless it took off today then get some. Well it is taking off anyone getting some?

I wanted to also give my heartfelt gratitude to the Trading Trifecta (Jeff, Brett and Raimo) and everyone on the blog for your wisdom, knowledge, support and humor. Dan and I are still rebuilding our account from mistakes made and learned from, but we are up 43% overall (locked in profits) since last Tuesday. This would not have happened without all of you.

Jeff, you're awesome. You stand side-by-side with Tom Brady in my eyes. And you can ask Cpt 1Lot...that's saying something!

Enough blubbering from me....trade on!

Kim

Bob,

It might be easier to explain over the phone. I was selling my GRMN contracts in this case. When you create a closing order in TOS, there is an "Expected OMG Price" scale at the bottom of the Trade tab. As you move the option price up or down the expected omg price will change accordingly.

I'd be happy to tell you over the phone if you want. Send me an e-mail with your number if you're interested. No problem either way.

Kim

LZB is taking the next leg down.

JB

Real nice, Kim. Compare Jeff to a guy who knocks up his girlfriend and abandons her for a supermodel.

Just kidding.

Long: Tom Brady's on my fantasy team
Short: Missed Randy Moss by 2 picks

Also did anyone besides Jamie take my CPSL reco.


JB

Bob,

I used the same tool to sell my POT contracts, not to buy. Sorry for the confusion.

Incidentally, I'm watching POT to make support at $100 to get back in again.

Kim

Laney:
I almost got out of AZO yesterday, but decided to wait. Thanks again Jeff.

My wife wants a gps system for Christmas, I think I'll buy her a Garmin.

Laney,
I am still in AZO and did exactly what you did yesterday. It was slightly above my trendline but seemed to show a lot of respect for the 30dma which is why I stayed in. I am happy now obviously....as long as it holds.

Laney,

I am in AZO also. It came very close to my exit yesterday--within about .50. Looking much better today.

Thanks JK, for putting it on the radar. And an even bigger thanks for GRMN!!

SLB looks like its bouncing off uptreadline support this morning


greg h
long island ny

Brett- Haha! I'm LOL over here. That was funny. When I heard we picked up Randy Moss I was really disgruntled but I'm eating my words now. TB's and Randy's performance on Sunday was pure poetry.

Back to business..

Kim

Brett,
Beautiful entry on ICE. sorry Raimo,but you took GOOG and BIDU in a big way.

Anyone like ADSK for a low risk long entry.

CAM at REE?

I'm still in AZO too. Jumped on LAMR at the open and already nicely profitable.

Brett,
Good call. Looks like your ICE is going to town.

Michelle

Wow, my option selection on ICE is working nicely....

Laney, Krystal, Jodi...you all would have had a better chance at his number than me

Jamie

C4-

Big ups on CNQR!!

Thank you for putting me way out in front of that one!

Lis,
CAM at REE? Where do you see support?

Michelle

Kim, oh that tool. Yes, I use that all the time. I have asked before if anyone used it and I think I just did not explain it well so I got no answer. I use this to determine my stop/risk on options. Glad to know someone else is using it.

So you are waiting for a retrace on POT to 100 as an entry? Not sure that is going to happen with today's price action but I would agree that would be a great REE.

Sarah, I was looking for another down day to get a better REE on ADSK but it is close.

CNQ at REE?

Jaime,
You never know! :-)



Check out NTRI. It might be in the process of making a double bottom. Please let me know if you all see something else.

Kim,
What tool on the trade page are you talking about? I can't see it.

Kim,

Did you know that now you can set contingent orders in TOS that say "sell my option at the mid-price when the stock hits 120". It depends on how you want to do it -- either estimate what the option price will be when the stock hits a certain level (like what you are doing with the expected price tool), or have the system actually submit the order at the actual option price when the stock hits a certain level.

Anyone else have different targets for GRMN. I had put mine about 122. Kim's was 120. Anyone else?

take a look at CVS perfect right here

On second thought, it might be too early on NTRI.

What do you guys think?

Michelle
I see a diagonal support line. Am I seeing things? Still learning. Thanks.

Kim,

I'm with you...currently rebuilding my account from recent mistakes. I, too, find this group of people to be very helpful.

Rock on, OAs, rock on!

Krystal

Tim,

I have my target set for around $125 on GRMN.

Tim-
I like that tool to set contingent orders based on the bid/ask or mid price. I've been using it with my stop orders.


DG-
When you're working on an order on the Trade tab in TOS the "expected omg price" is horizontally between The Advanced order selection and the delete/confirm and send buttons. Do you see it?

Kim

CROX - retesting after yesterday's breakout. Good entry here.

Sarah, I like ADSK, but wanted to get it right at 48 and I missed my chance yesterday morning when it touched there. For options trading I'm being a stickler at staying extremely close to the support / resistance lines so for me it's a little too far gone here, but that's just for me.

Tim,
My target on GRMN is $121.

GRMN target $123

Tim,

My GRMN target is also $122.

Krystal

RESP making a nice move.

VeroBarbara

My GRMN target is $130.

Tim:
My GRMN target is 125

I set my target for GRMN at $123.

I do use the "tool" on the trade tab. It's been very helpful. Also, when I'm getting ready to buy or sell an option that is close to my entry or exit, I switch to a 5 day/15 minute chart to help me decide how it's going for the moment. It's helped me get a better price.

Long: GRMN, RIMM, POT, AMZN, BCSI, GLD, CNQ

Short: COST

Wish List: BIDU when it was at $225!

Barbara

When does the existing home sales data come out today?

Wow, a lot of different targets. How are you coming up with your targets?
I measured from it's last breakout from resistance- at opening price, 77.- when the asc. triag. started to form and measured to 105. Curious to hear everyone's take on it.

Lis,
I see where you would see the diaganol support.

I am not seasoned trader, so don't really want to give any advice.

I wouldn't take the trade, but you will have to decide what works for you.

Michelle

Big CROX retrace to support this morning after the breakout yesterday- time to jump onboard.

James H.

GRMN Target method:
Asc triangle 85/105. 20pt triangle with support at 105 gives me a target of $125

PCP jumping off of support retrace from yesterday also.

James H.

CLEAN CUPS!!!!

GRMN - Boy you all are making me feel like a wimp!

Lis - I took my trade based on an ascending triangle breakout. My triangle started on 8/1 and confirmed on 9/5 (I took the trade on 9/4 towards the end of the day). $105 breakout price less the $90 price tag on 8/1 gave me my $15 price target.

I see $120 as a logical mental level which is why even if my profit target was $121 or $122 I'd probably still consider $120 as my true target.

Kim