That is funny. So why is AZO up and NILE down, same industry group, AZO at the bottom,NILE at the top. go figure. We'll have to see how the day ends.

BTW I entered NILE yesterday.

That picture is just PERFECT, isn't it?

Sarah, NILE has me perplexed, too!


Sheesh. Got into BIIB and PCP early today and I'm down big time. When oh when oh when will I learn to wait to day's end.

On an up note, I did bail on GRMN early today and it's way down since then.

SHLD is at a perfect REE right now, although it worries me that it's had three very strong days in a row. I'll definatly wait for the end of the day on that one.

laney, my sister.

I've just watched $3 worth of profits slip away on DRYS. I put in a sell order and it's just plummetted since then. I think it's time to take profits. I looked at NM but there's no volume or open interest in it. That worries me as I've had some tuff times getting out of trades when no one wants to buy them. Sort of like my cookies. They look good on the outside but turn to toilet water when you try to get rid of them. You know you've got a lousy product when the dog runs and hides when you put your cookies in it's bowl.


hahaha, Jeff that's AWESOME!

Chris, I'm with ya on PCP and BIIB. Here's what I have.

BIIB...Horizontal support at 66.80; Diagonal support at 106

PCP... Horizontal support at 145.50 Diagonal support 146.
This is my husband's and he doesn't quite get REE.

He also got into NILE yesterday. I see it could drop to 87. That's a long way down with MACD still going down.

ATW and VIP are my only gainers so far today


I see that on NILE, too. I was looking at the volume and it's so low. It it was truly going to fall wouldn't the volume be higher?

You know what they say about volume.... you don't need nearly as much on the way down. I have a spread on this one--in my nephew's account. Thought I was being conservative with an 85/80. We will see.

That picture is awesome! Glad I got rid of that P.O.S. yesterday.

Sold my GRMN when it went below 104.50 today, bought puts.

It is currently testing its 50 day MA - from there it could fall tremendously if 50 MA doesn't hold. And with the heavy volume it probably won't.

James H.

Jeff- Don't hold back, buddy. Tell us how you really feel.

For me today is about having enough confidence in my trading plan to watch my big gains retrace from yesterday's move because the trade is still good. And I do so I am. There it is.



I had one GRMN contract. On Friday, I was up over $700. Today I sold it at a loss of over $400. That was hard on me because in my mind, that's not a loss of $400, it's a loss of over $1100.

Any words of encouragement? I'm very down on myself right now...


Keep an eye on one of my old favs - DAKT. They recently released a new type of scoreboard with less power consumption and reduced weight.

Once it breaks 30, next resistance should be at 34, and after that, new highs.

James H.

Thank you for comments like that. I am sitting here in a panic, I am having pretty much the same day, I have given back all the profits I made yesterday plus a bunch. But now when I sit back and look at all my stops and exits I have not broken any except one and got rid of that trade.

I have been having problems taking profits lately, as for the most part I only take one contract at a time and can't take half profits ever. This is what I have to work on next in my strategy.

Greg H
long island ny


I can change the ticker on my photo for you. Or you can come to Utah for a hug.



How did you get access to my watchlist?

Good call.


Don't dwell on it or it will affect your trading. We are ALL there with you right now.

I am calmer just knowing where my lines in the sand are so I can get out of trades if support is still broken by the end of the day.

Yes, it hurts big time to let a gain go to a loss but it will hurt more if you let the loss get big. Maybe have a plan to take profits at a certain amount while you have them. I am trend trading so let mine fall back today.



DO IT! Change the ticker!

And I'll be on the next flight to Utah!

All kidding aside, thank you very much. I appreciate it.

Patti, You're right. If I dwell on it, it will affect all of my other decisions


Thanks Jeff for the great posts....

picked up a few puts on GRMN yesterday and its doing beautifully this morning. Also picked up some calls on FCX, BLUD, FSLR.
Will watch GRMN and probably take some quick profits as i'm up 42% on my puts as of this posting.
FCX not doing so well but will keep an eye on it.
Picked up BLUD on a retest of a ascending triangle. Might take some profits on half of my positions at the end of the day as it announces earnings tomorrow.
FSLR, picked up some calls on that break of the flag yesterday. up beautifully today.

Happy trading to all.

CREE up on good Volume

David in NH


It is very hard to watch a winning trade become a losing trade. However that was not an $1100 loss. You cannot bank those gains until you close the trade. It was a 400 lesson. maybe try something like once your trade hits +30%,move your stop to breakeven,so that a winning trade at worst could become a breakeven trade. Something similar happen to me on ELON at one point I was up 98%, but was riding the longer trend, last week exited w/ 10%(basically breakeven). We are all still very new at this, and refining our system. In my mind exiting is the most difficult part of trading.

Family of Bloggers, would you say support of HANS could be at 56, or is that just wishful thinking and support is really closer to 50. I want to get in the trade, but I want a good entry.

I existed out of rimm yesterday before the earning. There may be a chance that rimm can gap up, but I'd rather to make less profit than lose money

grmn....that is a tough one...


The crap of AZO and the fact that the rest of my positions are heading the wrong way today rattled me this morning and almost kept me from taking new trades.

But this time, I moved past it and sold that vertical on CME right as it came down and kissed 600. Kissed it goodbye, that is.

Also took CVH as it touched 60.50. Still holding right around there. Very little risk if it decides to move against me.

Thanks for those marketcast picks, Jeff. Today may be the first day I overcame those emotions and just kept moving on. Feels good.

what is everyone's opinion on bidu

bidu is strong again...


Trading is more of an artform than a science. Once you have your rules in place... play by the rules. There will be times (like GRMN) that it just doesn't work out. It's OK. Take the loss (400) and learn from it. The reason it was only a 400 loss was you got in at the right time and were overcome by news you couldn't predict. I got out of GRMN this morning and sold my call for 3.90 Right now it's trading at $1.90. Could have been a LOT worse. I consider this one of my most successful failures. I actually feel good about it because I got out when I should have. End of story.

There will be other times that it goes the other way. You'll wake up one day and have one that gaps up 200% and you will bask in your glory! Stuff happens. Move on to the next winner.

My oh my. BIDU up another $20 today. Nice trade folks. Wish I was in it.

Jeff thanks so much for the video. It's awesome... really worth the esxtra time! They're all going in my JK Watchlist and will be actioned this afternoon if appropriate.

oops forgot


Watchlist is out!!



I tried to will DAKT (telepathy)into the watchlist back when it broke 22 at the start of August (22 = big time support back in May), but it didn't make it. I posted on it a time or two. DAKT always seems to be a good straddle/strangle so I bring it up before earnings usually. I thought I would try again. LoL.

Good times... I made a killing from the Aug flag, here's to another big run.

James H.

where is the video?

I only see the AZO....

am I missing something?



This is just my opinion and I am by no means an expert or a pro. However i got into BIDU today at about 305.

It gapped to 300 on the back of an upgrade and 40% price target hike to 400 dollars per share.

That makes me think it is even more likely for it to move higher when people think they can still gain a possible 40%, combined with china being so hot right now, china.

I drew my line at 300, assuming it holds that round number and the gap up.

I checked the PE also because as it got to like 176PE i was almost thinking institutions would think its overvalued, but it is growing at I think close to 150% so that's not that bad.

again just one amateur's assessment


thanks Ben for your quick reply.

bidu...a very tough decision, tomorrow, it may gap up to 400...


Did you look at the line chart of BIIB before you traded. One could say it made a lower high yesterday and todays action is on the way to a lower low.

Not a real clean chart in my opinion.

Good luck


In hind sight since I like REE trades, this would have been a trade I would have taken (calls) yesterday.

I shouldn't have said the chart is not clean , it's not bad, todays action just made it look bad.

MDC--a home builder. Why is MDC up? I know some home builders were upgraded, but everything i am reading sayd that MDC was downgraded.

I would have thought MDC was going to head further south, but it has climbed ~ 10% in the last two days.

Any Thoughts?

Geez Louise, this this the most wordy blog i've ever been to in my lifetime. I tried once to read thru all the comments and i got a headache. Hope you folks are making as much money as you talk.

GOod luck.

And buy solars!!!

Solar flare!@@@

Traderdog Beanie just today raised his target on BIDU.


Tuesday, October 02, 2007
I am raising BIDU's target from $1,000 to $2,000!

BIDU trades @ 317 right this moment.

If you believe in the economic future of China, then BIDU is perhaps your best bet to capitalize on it. BIDU to $2,000 means only about 60 billion market cap (which will be about 1/3 the size of GOOG is now).

Buy buy buy!

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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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