.QQQRQ QQQQ JUN 43 Put 20 $1.31 bought at $2,620.00 1.41 now worth $2,820.00
Profit $200.00 This option was negative over $1000.00 days ago, but we are at an extreme top and have a 6 month option! -no worries.
When the market did a "head fake" and shot upward we bought our "gift" option 2 days ago.
.UQQRS QQQQ JUN 45 Put 10 $1.30 bought for $1,300.00 2.44 now worth $2,440.00
Profit of $1,140.00
Wait till you see what these are worth in May Everything is in journal form in this thread, no reason anyone can't paper trade these "extreme" tops and bottoms and make money IMO.
posted
Congrats Chart! I wired in some money to try and buy before it shot down, but it STILL isn't credited
Sorry to hear things are not going well for you. As we have been discussing frequently in SS lately, there is a reason for everything and something good will come out of it - I believe that too. Something better is waiting for you down the road! Thank you so much for everything!!!
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
Questions (from your blueprint post above):
"---now the catch... "The Rich" (the powers that be) KNOW this too...
They have set up "requirements" now which must be met in order to short a Option contract, otherwise EVERYONE would do it! 1) you must have at least $10,000.00 in your account, some are more then others... ($50,000.00 for an Index Option).
2) you must have Margin
3) level 5 trading account status..."
Are the cubes considered an index option?
What is the Level 5 trading status? How do you know what you are?
Gracias mi amigo!
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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SherriT.. At optionsxpress you can check your level by clicking account info. Of course you can always chat LIVE with a real person by clicking the chat tab and a window will open...
You can ask any question you have there about stocks, options, taxes etc...
And yes better days are coming!!
-right after the 12" of snow coming hits Wisconsin over the next two days I'm going to NEED some better days!! LOL ~~
I had said earlier that I didn't believe the BS that the press was pushing about the BULLISH market... People have LOST BILLIONS from IRA's, 401k's, stocks etc.
Again I make the case for people to know charts and indicators, because it is wealth to you Because yesterday as many investors LOST everything they had gained over the last year, other investors "in the know" made a futune!
-Not rocket science, That's the good news!!
Watch the BOND market take off now as money flows into it...
I would expect Stochastic to fall below the 20 mark, I think to play it safe on "this side" of the correction in price you may want to wait until the bounce up is done...
In otherwords, wait till Stochastic resets itself and and crosses positive and wait till it crosses negative again, you are hoping for the price to bounce up making your PUT cheaper to buy. The main trend is still down as noted in the gallery view page at Stockcharts . com
Note the last indicator... Stochastic RSI BUY Puts when this in at the TOP of it's indicator, and CALLS when it's at the bottom of the indicator. As you can see it is at it's bottom, so right now a PUT would not be bought...
Long term you could buy a PUT now, but you want to squeak out every cent and make it as profitable as you can. That is way I was buying PUTS when this indicator was "hot" (high).
What we did and why.... The Weekly chart (weeks ago) told me the market was due for a correction, the daily told me it was "hot" so I bought the first PUT. The market did a "head fake" and went higher on weak volume and gave us a "gift" we bought another PUT 3 days ago, again, when this indicator was "hot."
It has now fallen, but obeys the indicators. So read the indicators like a book, especially the RSI Stochastic and you should time it right on.
Because we are now "in" the correction, I would buy more towards the money then out of the money.... -my 2 cents.
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Chart, maybe instead of Seminary school to be a Pastor how about becoming a Financial Advisor? Posts: 1453 | From: Wisconsin | Registered: Jul 2006
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posted
Shorted THC march 8 calls just before earnings. Now THC is trading in the hi 6's. Letting it expire. Repo is right. But you got to do your homework and have exit strategy.
Posts: 130 | Registered: Jul 2005
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quote:Originally posted by new2stocks: Chart, maybe instead of Seminary school to be a Pastor how about becoming a Financial Advisor?
There are MANY paths there, financial, music, food, --it's endless...
Just looking for "something" truly rewarding
Now back to Options!! In "the big picture" with Asian markets and with Bond funds now loading up, it seems the much waited market correction is REALLY here this time. Doesn't look like yet another head fake.
Buying at "extremes" you can buy more and more with every "headfake." Can't/wouldn't do that in the middle area!
-Although another "gift PUT" would be nice!!!!
QQQQ gapping down hard right now, $42.58 as I write this, down from yesterdays close of $43.33.
What amazes me is that some people will lose alot of money, and at the same time a little charting knowledge is making others rich... Those of us who bought PUTS are going to make serious money here. And all we had to do basically was look at a FREE site (stockcharts gallery page) and understand what was there...
"Knowledge IS power"
The power of NOT jumping in but waiting for an "extreme" to jump in is priceless... Stay away from the middle area IMO. The big, "quick" money is at the two extremes.
I hope everyone here adjusted their IRA's and 401k's to Bonds, I would expect this cycle to take about 6 months [look back at the weekly history chart in the gallery page at stockcharts. com].
I like flipping from the Euro-international funds to bonds and have done very well in my retirement plan. Careful, some Funds screw you if you don't stay in them for a certain amount of time. Vanguard Mutual funds like to do this... FYI
FWIW.. If I'm not on here we have some very nasty weather rolling through our area, last time we lost power for one - two days! So I may be having a snowball fight with the kids but I'll be back when the power is back on!!! LOL
quote:Originally posted by Chart walker: .UQQRS QQQQ JUN 45 Put 10 $1.30 bought for $1,300.00 3.04 now worth $3,040.00
Profit of $1,740.00 day 4
OK new question....
When we were first looking at the QQQQ puts, you purchase a June 43 PUT, and I am sure you are still holding that...would you buy another one like that now - since you know it matched the original indicators?
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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White candlesticks and we are going down! ha ~ talk about confusion in the market place...
$43 is a magic number. 43 was support/res many times. So $43 is still a good buy in point IMO. Fire up your intraday charts and see in the 5 min if the cubes will go higher today, if so wait and let the price of those PUTS fall some for you.
posted
Dow, Nasdaq Poised to Open Lower AP - U.S. stocks headed toward a lower opening Friday for the final session of a wild week as investors were left without the plethora of economic data seen lately and instead looked to a falling dollar and a few big profit reports.
Pick a stock with low volatility (NYSE Blue chip) that is going to pay a QUALIFIED dividend.
Buy the stock the day before the ex-date. Also sell a call for the same amount of shares. After the ex date and the price adjustment, dump the shares and buy back the call.
You should make money not on the stock price, but on the dividend and the call (call will be slightly less when you buy it back - it doesn't adjust exactly like the stock).
The qualified dividend part is good for tax reasons.
I haven't figured out the details like which calls to sell in terms of strike prices yet, but I wanted to do a test.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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posted
Short 30 * THC march 8 calls * .10 One day before earning, now THC trades in hi 6's. Letting the calls expire, because it isnt eating up much on my margin account.
posted
OK Chart, these are kinda options and kinda chart questions...I was looking at the weekly charts you posted previously for the cubes, and decided I would pull up the charts of some of the others you mentioned...GOOG, MSFT, SPY, etc. and see if I could pick the buy points and what you would attempt to buy...correct me if you would...
MSFT you could have bought a 22 or 23 call once you had that long white candlestick in July 06 - then, in Jan, a put at 31 or 30 would have been the thing once those red candles confirmed the downtrend...that Stochastic is a no-brainer, isn't it?
GOOG looks like it is at the bottom, or nearly at the bottom of the Stochastic and the Accum/Dist is turned down...the candles I don't like as much because it isn't a clear up or down to me...by the indicators, I would say call, but I would likely stay away from GOOG because of the wide strike price variation at the levels GOOG trades at...
SPY - man, this one looks like an extreme top, so I might even consider a put on this next week for September (or whatever the next period is after June) just out of the money. All indicators pointing down, or turning that way at least...
OK, that was enough questions...how close was I?
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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