posted
Yes - I never should have let them go so far either....just kept feeling that it was going to turn down. At least if it does, I can take comfort that I was right. Very nice plays though...if you bought yesterday toward the high, you would be up 200% right now.
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
Pretty dead in here. I guess nothing is going our way right now. Chart, you around?
The weekly on the Q's still looks good for a drop. Checking it out and watching how it usually goes, I guess I jumped the gun buying the puts when I did. I should have waited for the stoch to settle out in the upper section and maybe for the RSI to drop, but there's always a fine line with that.
I'm guessing my June puts are done for, but I still have faith in my Sept. puts.
Posts: 1028 | From: Georgia | Registered: Jul 2005
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posted
Yeah - I was watching for someone to post other than myself...was afraid I would start answering. The cubes definately did NOT go my way, but my other picks have done well....CROX, AMD, and now Q...made a good 50% or so there, and I am LOVING the 12.50 calls on that one for October. Been picking up 10% or so daily, and at .20 right now, affordable.
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
I have done OK with short term calls on the cubes. I am holding 49 June calls right now and they have doubled since yesterday. I don't plan on keeping them very long...
-------------------- drysider
My advice is worth exactly what you paid me for it.... Posts: 30 | From: Liberty Lake WA | Registered: Apr 2007
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quote:Originally posted by Linux2: Sometimes you need a little luck - I could use a few more days like this:
5/31/2007 Sell To Close 50 .UKOFU DNDN JUN 7.5 Call $2.100 $75.00 $10,424.83
GLTA
Yeah, I think we all could use a few like that....out of curiousity, what did you originally purchase those for? You probably could have sold them back when it was in the 18s for a stack more too....
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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quote:Originally posted by Linux2: Sometimes you need a little luck - I could use a few more days like this:
5/31/2007 Sell To Close 50 .UKOFU DNDN JUN 7.5 Call $2.100 $75.00 $10,424.83
GLTA
Yeah, I think we all could use a few like that....out of curiousity, what did you originally purchase those for? You probably could have sold them back when it was in the 18s for a stack more too....
Sherri, that would have really been nice had I played that. The June call was purchased on May 23 so I would have missed out on the huge run. I had some shares of DNDN that I sold during the run but wasn't playing options then...RATS!
Long story short.. Useing the "Super Macd" (I showed how to build that in a longer post a page or two back)...
Might be time for a CALL option. Remember we were watching and studing the movement of the QQQQ's and noticed that because over time the cubes will always go up (thx to IRA and 401k's) CALL options were the safest, they bounced better on selloffs and were more predictable then PUTS.
That said.
Pull up a 20 day 60 min chart and a "Super Macd" indicator. Notice it is negative and at about 30%, not yet 20% but getting there. Stochastic lines are now below the centerline, another good sign to start watching.
Now make it a 30 min chart, support right around the $46.50 area, bounced off of that twice now and forming 3 higher highs since last Friday. Stochastic not at 20% yet, so we didn't miss a buy in...
Now make it a 15 min. chart. Here we are well below the Stochastic 20% line, TIME TO WATCH! At the end of Monday going into Tuesday there was a "head fake" I'm fully expecting one here because the 30 min. chart's Stochastic level isn't at 20% yet. <--This helps weed out head fakes.
What to watch for IMO.
In a 10 day 10 min. chart you will see the Stochastic go positive first obviously over the longer time frames, this should be the head fake. Then watch the 15 min. chart and NOTE what happened Tuesday! Wait for the cross positive. In the 30 minute chart we should see the 20% hit with Stochastic. This is where the battle is!
The ONLY thing I can see that is a drawback in this set up is in the WEEKLY chart we have crossed negative, and the rule is "The trend is your friend." So this will be a SHORT TERM PLAY. http://stockcharts.com/charts/gallery.html?QQQQ
So there you have the pro's and con's... If it wasn't for the weekly chart being negative this would be the perfect set up IMO.
Just watch things turn positive in the 10 minute chart into the 15 minute and when we see the 30 going positive and the 60 min at 20% stochastic, squeeze the trigger IMO ~
posted
Dude, where ya been? I hope all is well with you and your family.
I'm still playing the weekly chart, but I bought my puts way too early. Looking back, it looks like the stock has continued to hold after the stoch has crossed at the top. The real signal of a drop has been the RSI falling. I thought we finally had that a few days ago, but it jumped back up. I'm still confident we'll get a drop on the Q's, but my play has become quite long term now and I'm losing time value.
Posts: 1028 | From: Georgia | Registered: Jul 2005
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And yes everything is looking to pullback, what to watch is that old (about) $47.60 level high, it will test that and either bounce down or past it..
If it pushes past, get ready for a quick retest of that area on a pullback, if it does get past that area it may finally reset. The CMF indicator shows investors sitting on the fence. http://stockcharts.com/charts/gallery.html?QQQQ
Hope some peeps made some green on this play
I'm still busy but will pop in from time to time when I see a good play
In case I'm not back...
"Happy Fathers day" to all you dad's out there. Rising and keeping a family together now-a-days is a hard job. Hat's off to you!
posted
My Q put was doing well, but I should have sold already and took the 25% or so. I've started learning Forex....moves faster and makes good money....IF you can find a system.
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
I was hoping the Q's had finally topped out, but NOOOOOO....
Sherri, I've never looked at the Forex stuff, can you summarize what the deal is? Thanks.
Posts: 1028 | From: Georgia | Registered: Jul 2005
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I just wanted to say that I love this thread. I've been following it for a while and really like the analysis. I've used quite a bit in virtual trade and been fairly successful. I'm ready for the real deal now, so I'm looking forward to it, and one of the other reasons for finally registering to the forum.
Never done any forex stuff either - seems quite a bit more volatile, which I'm guessing is great for getting in and out of position quickly. I'm with optionsXpress but they don't seem to have that available - unless I'm not looking in the right place. forex meaning foreign exchange?
Have a great weekend! Regards, ~BC
Posts: 1 | Registered: Jul 2007
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posted
Sherri,keep us posted on your adventure with FX.
My expiration day trades did well. Better than rest of the month. There is no gap up/down to worry about. Only problem is there is only 1 expiration day in a month.
Posts: 130 | Registered: Jul 2005
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posted
JLo, can you explain your expiration day trades? I'm guessing that you are trading the options on the day they expire. What advantages are you seeing from this?
posted
Short calls/puts on expiration fridays. They expire worthless when 4:05pm rolls around. Been doing that for > a yr. But you have to know the stocks and watch them like a hawk because its sometimes pennys from being in the money. You want it to finished out-of-money.
This play is not unlike futures, your positions are settled end-of-day and you are on the edge. I don't play futures because of the big lot size.
Posts: 130 | Registered: Jul 2005
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posted
Your welcome. You have to be comfortable with selling naked options and a big margin acct. Don't do it if you are not comfortable with it. I am still in the rebuilding phase so I am not out of the water yet.
Posts: 130 | Registered: Jul 2005
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Sorry I haven't stopped in to say hello. Haven't touched an option since the Qs, although CROX was looking beautiful in the 40s again...should have pulled the trigger on that one.
Forex is some kind of beast. Everything you read make nearly no sense until you do some practice trading. Any reputable broker has a demo account system...worth checking out, particularly if you are a technical trader.
Good Luck All!
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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