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Really???? I'd have thought the reverse.
Fred
Newton's Mom would not approve Eh?
They sound like the type that a mother would not approve of <GG>. Well, so far we have some Good indications this morning, so far. The S&P Futures were down to 831 last night and actually recovered as high as 847 just before premarket trading. They then dropped to 837 and have just now recovered back to 839. If we do not move any lower than 831 then that might be a good sign of Support and we get some kind of a Bounce here today. Make sure to keep an eye on the Support levels to see if they hold.
Good Luck Fred and daughter! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Ahh, OK.
And lest we forget, old husbands' tails are a bit tired as well.
Ms. Poetess, I hope you won't miss my preceding post. With regard to Hahn, ink blots, whistlin' Dixie, and recently acquired nequities, I'm thinking more of distantly acquired assets ... like old wives whose tales are more lively than their tails.
Fred
Actually, Bob, I do know a couple of Newtonian theorems that might be twisted to fit the case. Unfortunately, they are of marginal color, so with a nod of acknowledgement to our lovely poet, I'll keep 'em to myself.
Fred
Ink blots rule.
What Hahn reminded us was that after the initial 1929 drop, there was a ferocious rally for a few days before the real bottom was put in. It might be a good opportunity to divest ourselves of any recently-acquired equities.
All I know is I'm digging in and eating Cheez Doodles today. Whistlin' Dixie might help, too.
Glad there is Hope!
I sure would not want to hear that you needed to drop out of the markets. I had to do that once and it took me quite a while to get back in. Yes, I wonder if Newton had a Bounce theory that we could use here Eh? :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Thanks, Bob.
Actually, we're not in such bad shape. I've been through one or two of these before, although this one seems more severe. I think the current one always seems worse. I guess it's kind of Doppler-like. It's too bad Newton didn't postulate a law to explain it, but I guess he was too busy doing important things.
Fred
Morning Fred,
The Big Bear Growleth Eh? <GG> Yes, I know what you are going through with seeing some choice stocks being depleted by these slides. That is why this year my goal has been to be mostly cash whenever the market starts to turn down. So far this year it has been saving me a few headaches. It must be fun to go over different strategies and scenarios with your daughter. I hope that the 'lessons' have not been too severe.
It sounds as though your account is taking a bit of a beating. Have you been using fairly tight stop orders or buying Puts to hedge your downside? One strategy that I have seen, but not used, is to constantly purchase Puts on your stocks. I know that it can be expensive to do but if we do get big slides, like we have been having, the Puts can usually make up for some of the losses. The idea is to then sell the Puts when they are most profitable and roll over the Puts to the next level down. Again, I have never used this strategy but can see how it would work for a declining stock. The other part of the Theory is that you use some of the Put profits to average down on the stock so that you are constantly accumulating shares for when there is a recovery. Anyway, something to think about.
BTW, has the Mud stock been sliding for a while now or just recently? If you have been following the MKTSS board then a good thing to remember is that whenever the Dow or Nasdaq move Below their 320SMAs then the Plan is to be Bearish. You Might want to start to use that Bearish signal to enter a Put position or set a tight stop loss order, maybe.
So far it does not look like much of a selloff according to the Futures. We both know that can change pretty quickly though. IMO we are due for another Bounce from here. I don't think that it will be much of a reversal though, not yet. If we get a bounce back to the 320SMAs and cannot make it back above it then you might want to exit some more positions or make sure and get some hedge positions. Lately, buying Puts on the Dow would have been a pretty good hedge.
I sure hope that we do not get much more Panic. The more money that is Lost in this market is less money to eventually come back in. If the short sellers are making money shorting the market then will just continue to do so. That would be a Scary situation if most of the traders in the market are Sellers and Short Sellers and the Buyers are staying away or Broke.
I hope that things will turn around for you and your daughter Fred. I am sure that she is learning a Lot of lessons as these markets have been pretty unforgiving. It sounds as though she has a Great teacher though and will be able to pass this Test.
Take Care Fred and daughter! Sincerely, Bob :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Thanks for the Hahn, Poet.
(Oh, my goodness. I mistyped in the line above, but corrected it. The erroneous version was "Haha". Whoops!)
I'm considering feeding the fire a bit today. I've still got a couple of real jewels left. One's named Lassie, one's named Spot, and one's named Ruff. I've always heard dogs are a man's best friend ... but sometimes I wonder. The first one, of course, is a bitch. The other two aren't far behind (it's me that's far behind).
Hey ... that worked out pretty good ... from a free-association point of view. Might even be better than ink blots.
Fred
Hi Koikaze:
Here is a market summary posted last night on Hahn's Corner, a for pay website to which I belong. I think Richard Hahn has been remarkably accurate in his analyses over the past seven months.
Bad news across the board. There are many ugly chart breakdowns. No sign of a capitulation washout event, yet. There are signs manipulation efforts are failing. There was no bounce to stability on the last day of options expiration. Yikes! You can just hear the derivative blowups exploding. Watch JPM for unusual signs of weakness, for they are the derivatives monster.
I was shocked the market was not muscled back up and away from the breakdown zone. Instead, we have a crash scenario in play. Many are looking for a crash to buy on Monday. The market never cooperates when people are ready for it. But then, I didn't think we'd break down so badly on Friday. Things might be worse than we can imagine.
Things are looking grim. As far as trying to buy in at the bottom, my only advice is to let someone else go first. Be sure you have the 1929 crash pattern in your mind before you commit capital to this freefall situation. In 1929, the first crash low was exceeded about a week later. There was a big sucker's rally for a few days. Because of our time wave projections on July 30, you can see why I have a great interest in this pattern.
Many investors are growing weary of the bear market that grinds slowly lower. We are near the point where many can't stand it any longer and will sell at any price to avoid the daily pain. That final wave of capitulation washout is ahead of us. Our time wave studies suggest the most likely time for a market crash low to be July 29 +/- one day.
re: "I hope that you and your daughter are doing well"
Thanks, Bob. It's only today that I was thinking what a wonderful teacher I am. I mean, c'mon, after all, how often does one get to hear a REAL bear growl? And, I had the wit to get her involved in time to see the whole thing, up close and personal, like. With a dad like me, she'll never need an enemy!
To answer your question, I'd have to say we're black and blue ... and they don't make a salve for this kind of ache. Someone took a 16-pound mall (or is it "maul"? You know, the one you drive fence-posts with.) to a stock I had great confidence in. Now it's the fence-post ... totally driven into the mud. Oh, the sadness ...
A healthy (or ought I say unhealthy) slide tomorrow won't be a huge surprise. Last week's tumble probably ate up a ton of margin. That's the kind of thing that teaches ALL the elements of panic ... and leaves a lot of folks suffering severely. We're not quite tapped out, yet, and I'm trying to figure which little bits will make the tastiest morsels when things settle down a bit. Nothing rash, you understand, just a bit here and a bit there.
Fred
"Too Good to be True!"
Yes, I have seen a lot of examples of trades that look too good to be true and usually are. If I had looked a little closer to be able to see the strike month on the contracts I was buying I am sure that I Never would have made the trade. My new trading software has the smallest print I have ever seen. The symbols and quotes are Ok to read but not the strike months. I will have to see if there is a way that I can change the font size.
I always try to point out that anyone wishing to make a trade should stick to a stock that they are familiar with also. I certainly did not do that with QLGC as I had only followed it's trading occassionally. I Definitely was not familiar with it's Options quotes and strike prices. That is one of the reasons that I post the DJX Options quotes every day on the MKTSS board. Being familiar with the quotes and how they move with the market can Sometimes point out when there is a disparity between the Market and the Options quote. Like Friday when the Calls were trading at such a High Premium compared to where the market was at. Anyone able to sell Naked Calls that were projecting the market back to 8600 would have made a nice profit on Friday, and possibly on Monday also #msg-422836. I was reading an Email from Investmenthouse.com and the "too Good to be True" trading might come into view again tomorrow. They are looking for a Possible 500 point drop in the Dow for Monday. If that does indeed happen then there will be a Lot of Good Deals out there. Any continuation of the Drop though could change the profitability of a lot of those 'good deals'. If we do get a continuation of this market Slide on Monday I will indeed become very Alarmed!
I hope that you and your daughter are doing Well Fred!
Sincerely, Bob :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Bob, there is a time to write ... and a time to keep my big mouth shut. But ...
That may turn out to be a benefit. I'm not sure I've mentioned it, but I've made the same (or, at least, painfully similar) mistake. Now, good deals alert me. REALLY good deals alarm me!
Fred
From the NYTimes, on the growth v. value distinction, now blurred:
July 21, 2002
The Value-Stock Advantage May Be Just a Mirage
By MARK HULBERT
Many investors think that they know how to tell a value stock from a growth stock. Yet the distinction is actually very difficult to define.
It has not always been that way. Benjamin Graham, the generally recognized father of value investing from the middle of the last century, had a clear definition of a value stock: it trades for less than two-thirds of net current assets a share.
Net current assets are total current assets minus all liabilities. A company that meets the Graham definition thus gives investors the chance to buy a dollar's worth of current assets for less than 67 cents. Not a bad deal, if you can get it.
These days, you rarely can. Many companies in Mr. Graham's day satisfied his definition, but in recent decades it has been unusual for even a handful to do so.
But that does not necessarily mean that value investors have left the market. Instead, many of them have relaxed the Graham standard in recent decades.
Rather than focusing on current assets of a company, they have zoomed in on book value, which is less restrictive because it also includes noncurrent assets. These investors have also become relativists; to them, value stocks are simply those in the bottom half of companies ranked by price-to-book ratios.
As a result, some stocks now qualifying as "value" would be surprises to Mr. Graham. Consider Veritas Software , which is part of the Standard & Poor's 500/Barra Value Index. Despite having a price-to-book ratio of 2.54, a number that would be high by Graham's standards, Veritas nevertheless makes the list because that number still falls in the lower half of the market.
Relaxing the Graham standards would not be a problem if the definitions in use were helpful. But some academics are dubious because, when defined in terms of relative book value, value stocks do not perform significantly differently over the long term than growth stocks do.
This result runs counter to research conducted by Eugene Fama of the University of Chicago and Ken French of Dartmouth, showing that, since 1927, stocks with the very lowest price-to-book ratios have done several percentage points a year better than those with the very highest ratios.
According to Tim Loughran, a finance professor at the University of Notre Dame, the bulk of this difference can be traced to the value stocks' January performance, which he calls a fluke.Professor Loughran says that this strong performance is caused by tiny companies, whose stocks typically trade near their bid prices at year-end, because of tax-loss selling, and nearer to their asked prices in January.
To get a more accurate picture of value and growth, he suggests eliminating January from the picture. In all other months over the last 75 years, value outperformed growth by an average of just 15 hundredths of a percentage point. Professor Loughran suspects that after taking commissions and bid-asked spreads into account, this advantage is not enough to be meaningful.
If value does not really beat growth over the long run, how do researchers account for the huge difference in their performances over the last two and a half years? Andre Shleifer of Harvard and Nick Barberis of the University of Chicago have an answer: All it takes for the growth and value styles to swing in and out of favor is for investors to think that there is a genuine difference between them. An actual, objective difference is not necessary.
The new research has this implication: If the gyrations of growth and value are not based in reality, they inevitably will correct themselves. Stocks become good candidates for purchase as investors shun them in favor of whatever is in style.
A more basic lesson is this: Don't blindly accept categories created by others. If you can't make sense of them, think twice before basing investment decisions on them.
This morning's Sundat NY Times had a couple of comprehensive articles about the market, which I'll post here. This first is about investor confidence. Bolds are mine.
July 21, 2002
Investor Confidence Ebbs as Market Keeps Dropping
By GRETCHEN MORGENSON
Not long ago, United States investors were true believers. They trusted corporate executives to be truthful about their companies' performance and prospects. They felt sure that the stock market was the only path to a prosperous future. And they trusted Alan Greenspan to steer the economy through any storm.
But by the end of last week, the investor trust on which the bull market of the 1990's had been founded seemed to have almost entirely vanished. As the Dow Jones industrial average careened to a loss of almost 400 points by the close of trading on Friday, it became clear that many investors may have finally stopped believing.
Thanks to Enron, WorldCom, Global Crossing and Tyco, confidence in corporate executives and the validity of their companies' earnings is gone.
And with trillions of dollars in lost stock market wealth, so is the trust in company shares as the way to a comfortable retirement.
After Mr. Greenspan's testimony in Congress last week, investors' faith in him suffered some severe slippage.
This, market strategists say, is what a stock bubble looks like after it has popped. Unfortunately, economists add, the stock decline is so bad that it now threatens to weaken the economy's last pillar of strength: consumer spending. If consumers shut their wallets, hope for an economic recovery goes out the window.
"I don't think we've got an awful lot of problems in the economy," said Alan Kral, portfolio manager at Trevor Stewart Burton & Jacobsen in New York. "But we could if we totally undermine consumer confidence by knocking down the market."
A good hard knock is certainly what the market took on Friday. The Dow Jones industrial average lost almost 5 percent for the day and fell 7.7 percent for the week.
According to Thomas McManus, chief United States strategist at Banc of America Securities in New York, $6.7 trillion has been lost in stocks since the peak in March 2000.
This wealth destruction has finally begun to register with investors who, until recently, were holding onto their falling stock positions with an admirable stoicism. "Confidence has been pretty beat up," Mr. McManus said. "I think it's pretty clear there are going to be more ugly revelations at companies. I think there's a chance that there will be some investors who have such a bad experience that they will never want to touch stocks again. The pressure is going to be greatest for the people who got in late because they are the ones who are looking at this as a really disastrous move."
What economists fear most is that investor losses will translate to a slowdown, or worse, in consumer spending. While corporate spending has been nonexistent for months, consumers have kept their wallets open. Low interest rates and surging home prices have encouraged them.
But as consumers recognize the extent to which the falling stock market has decimated their retirement accounts or their children's college savings plans, their spending may come to a halt. If corporations make additional rounds of job cuts, this possibility may become a reality.
"The really big risk is that consumers will reawaken to the timeless truth that the best way to save money is to stop spending," said Richard Hastings, chief economist at Cyber Business Credit, a retail advisory firm in New York. "And I think that will impact aggregate demand in a way that has not been seen since the 1930's."
Economists at Goldman, Sachs, for example, say that weakness in consumer spending will curb economic growth not only for the remainder of this year, but well into 2003. As a result, the firm recently lowered its estimates for gross domestic product growth to 2.5 percent this year and 2.8 percent in the next.
"My feeling is the stock market is telling us something about the economy," said James Paulsen, chief investment officer at Wells Capital Management in Minneapolis. "That the economy is going to be really bad for the rest of the year. I also think what it's telling us is the consumer is going to get close to capitulation in the second half."
It wasn't supposed to be this way. After a year and a half of interest rate cuts, the economy was supposed to be chugging along. Investors were told over and over again that six months after the Federal Reserve began cutting rates, stock prices were always higher. Instead, corporations are struggling with profits, the stock market is making new lows and the economic data are weak.
Apart from doubts about whether corporate financial statements are reliable, many investors still believe that the broad market is overvalued in relation to actual profits. Many of them are staying on the sidelines until they see a turnaround in profits, which remain under pressure.
With economic weakness still weighing on the market, investors are beginning to doubt Mr. Greenspan and his control over the economy. Indeed, one of the biggest shifts that market strategists sensed last week among investors was a diminished trust in the Fed chairman.
Throughout the two years since the stock market peaked, investors have viewed Mr. Greenspan with something approaching awe. Now they are wondering if he can do anything to stop the market's slide.
"Greenspan did not have his typical calming moments in front of Congress," Mr. Kral, the portfolio manager, said of his testimony last week. "He came away looking like a follower in the marketplace, not a leader. And that undermined some people's conviction with regard to the market's direction."
As they begin to wonder about Mr. Greenspan's power, investors' fears can only escalate. "Behind this downward move is a Fed impotency panic," said Mr. Paulsen. "What's the catalyst that can turn the market around? Usually it's the Fed." But he added that investors seem to be so anxious these days that if the Fed moved, it might scare investors even more, if temporarily.
Many investment strategists think that investors are spending the weekend sorting through their fears of what the coming weeks might bring. These ruminations may results in further selling on Monday. As Mr. McManus pointed out, markets rarely hit their lows on Fridays.
That trade made Me Stutter <GG>
"J,J,J,July contracts?" <GG> I am so used to seeing price divergences like that with the DJX Options that I thought I was reading the correct month. I should have checked and double checked before entering the trade though. I sometimes get a little caught up in seeing a 'too good to be true' situation and do not do enough DD before pulling the trigger. What is the old saying? "Do as I say and not as I Do" <GG>. I try to put out enough information over on the MKTSS board to help everyone make sensible trades but do not always follow my own advice. As I mentioned before, hopefully everyone can learn from my Mistakes. Friday was a Big One!
No apology is needed Fred! No offense was taken! I thought that maybe when you read my Posts you were going "W,W,W,What the H is he doing?". I know that was what I was asking myself later in the day <GG>.
Have a Great Weekend Fred! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Lookit dat!
I thought I learned, years ago, to be sure to make my meaning clear, and look what I did ...
I said, "... even if it is Bob's fault!!"
Even a first grader would have know that in that situation, the proper phraseology would be ...
"... even if it is Bob Zumbrunnen's fault!!"
Bob (Zumbrunnen) being, of course, the person who is clearly at fault whenever I make an error.
Not you, au-Bob. Please accept my humble and abject apology.
Fred
That, Bob (Gold), in case you don't recognize it, is called "Making A Mountain Out Of A Molehill."
Out QLGC July $45 Calls at .00
Sheesh, a Huge mistake on my part by misreading a Quote. I guess that I need to just stick with following the DJX Options and using the Plan. The Plan was Bearish since yesterday when we moved below the 320SMA and I should have also continued to be Bearish. It looks like most Puts today were Rocking! Sorry to get you stuttering Fred <GG> :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
QLGC looks Good long term Fred!
I really like the chart but it sure has some Big price swings. I think that is why Steve likes to trade the Options on it, big swings can make big profits. I am just not so sure that the stock will swing enough my way or not. No choice now but to hold and hope. Hopefully by the end of the day we Both can profit. I Hope! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Quote is now .00 x .05
Yes, I am Hoping we get some kind of a Rally and I can at least get out Even, less commissions. When I picked them up the quote was .05 x .05 but quickly changed after I filled. I have the order in at .10 and if we can get a Boost and I can fill there then that would be Huge relief. I will just have to wait and see what happens! At least I will not have to wait too long :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Hmmmmm, I didn't know I stuttered.
(My apologies for the duplicate posting ... even if it is Bob's fault)
Fred
Well, I certainly hope we get that kind of rally!!!!
That's not excessive bon hommie on my part (as much as I like and admire you) ... it's that my charming trader (read: daughter) ... has me long some QLogic and increasing profits is a good thing.
Fred
Well, I certainly hope we get that kind of rally!!!!
That's not excessive bon hommie on my part (as much as I like and admire you) ... it's that my charming trader (read: daughter) has me long some QLogic and increasing profits is a good thing.
Fred
If we get a move back towards 43 which is entirely possible you may get a .10 for them but they will expire worthless if you hold through the close.
steve
Bob the July contracts expire at the close today. One good thing about QLGC is it will hold value for a while yet and you may be able to exit the trade for even.
good trading.........steve
LOL! My Cahones might get Cooked!
The software I have was showing the contracts listed under Near. I forgot that the stock options have until the end of today to settle and thought I was looking at the August contracts. I am definitely going to need a surge like on Monday to get something out of these. On Monday QLGC went from 39.50 at 2:30 to $43. I will need that same type of a rally today to get something out of these Calls.
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Need a Huge Bounce now!
I still need to get used to my new trading software. I thought that I was looking at Aug contracts and should have realized that they were just too Cheap. If we can get a good Bounce here into the Close as per Monday then I might be Ok, maybe :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Ohhhh, man! And I was sitting here, admiring your ...... (what is that word?)
Fred
Crapola! My Mistake!
I just picked up the July Calls as I thought that I was looking at the August contracts. I guess that I should not have switched to Decaf, Ugh
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Long Shot: QLGC Aug $45 Calls at .05
I am loading the boat here on these Calls as any move back to $45 on QLGC before expiration should make these profitable. I am not sure that you can buy a cheaper contract. It is pure Speculation that the markets will once again Rally from the Lows here but QLGC is showing some Strength while the rest of the market is tanking. That would lead me to believe that if the markets do move back up that QLGC should be one of the leaders.
Let's see what happens! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Things are going very well, thank you. Like you, though, we're boiling down here.
Things are improving nicely here on iHub. Bob's away for a few days but before he went away he added the ability to go to a user's profile and look at their last 50 posts. That is a huge improvement. Now, if we can get him to add a feature that just displays the posts I want to see ... and make it flip to the next one when I finish the current one. What's this nonsense about having to click a mouse?? Oh, the tribulations of us poor users.
All of which is, of course, tongue in cheek. The fact is that Matt and Bob never cease to amaze me with their ability to mold the system so it's a pleasure to visit. Incidentally, I'm also amazed by how many of the nonsense posters have found a new place to hang out. There is very little activity in the Jailhouse and on the Question and Answer Board.
I'm sure you've been introduced to our ZEEV board. What a bang-on investment information place that is. And, again, the (what someone called) ankle-biters have been kept in check there. The volume of posting is almost more than you can keep up with, but it has some remarkable people on it. I hesitate to name them because that would imply disapproval of the ones I don't name. I'll tell you this, if you're still interested in investing, it's a good place to visit.
Fred
among other things... eom
The Bird of Prey
#board-381
I'll be interested in the explanation. I'm betting it's got to do with building materials, siting, and window placement.
Yes I do have central air,
The House is well shaded and properly weather stripped and insulated.
What's funny to me is that prior to the `40's there were no air conditioners in homes here, but if you visit some of the houses built in the days before AC you find they are remarkably comfortable, even in July and August. I know why but won't go into it here. Maybe I'll explain it over on my board this weekend (it is rather involved). While I'm at it I'll explain why those typical NE houses are so good in cold weather but not much help for this heat and humidity.
The Bird of Prey
#board-381
Oh my gosh!
OK, I now know I've got no right to complain publicly. I'll bet you have central air, though. We Yankees don't believe in it, so we end up suffering two months a year.
Dying in the humidity here....
Don't talk about humidity unless you actually live in the world's largest open air sauna...
FLORIDA Temp 90 deg humidity 100% at 11:00PM!
That's at night for the Rio Linda crowd.
The Bird of Prey
#board-381
Definitely more Fun!
The markets have sure been erratic lately and giving me a lot of headaches <GG>. Not sure that I would be any good at writing anything but I will look forward to your first volume and reading some.
Enjoy the Day! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Well, Koikaze my friend. How the heck are you?
I took a sabbatical from posting, got some good writing done. Alexed told me that Bob is planning to install a message filter, so I thought I'd dip my toe back here again.
Let me know how things are going?
Dying in the humidity here....
Hi, Poet. Long time, no see.
Fred
Hi Steve,
I write poetry full time, am doing a lot of studying at this point.
I'm delighted you've settled here! Don't let me stop the flow of options talk, please.
Hi Bob,
I'm writing poetry and prose poems, hoping to have enough for a first volume in a year or so. It's more fun (for me, anyway!) than trading this market.
Hi Poet,
Writing sounds like a lot more fun than trying to follow the markets. I hope that you are enjoying it. Are you working on a book or just articles for submission to different publications? Be sure to let us know if you need any book buyers Ok? :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Poet do you write for a living?
Please leap into the fray with any of your thoughts. I thought this was an appropriate place to present my option trades since I almost exclusively trade options.
I spend a lot of time with Bob and Bernard on MKTSS thread but I don't truy trade their signals but I do. I know that doesn't make sense but what I'm getting at is I use a mix of signals and I didn't want to mislead folks with my trades over there.
So hopefully, if you don't mind, I've kind of made your thread home to my option trades.
Hope to have your input, the best to you Poet, steve
Hi Steve,
I'm no longer trading, but I'll be happy to watch you all. I see SEBL missed earnings afterhours.
That's so kind of you, Bob. Thanks.
I'm not trading anymore, writing full time instead. But it looks as though there's more activity on IHub and I really am pleased to see that you all have been meeting here for options talk. I'll be around and will be happy to try and help people with questions, though it looks as though you all are doing well.
Hi Muell,
Sure, I'll start checking in regularly and would be pleased to help in any way I can.
Yes, expiration week
We can only trade the Index Options tomorrow as they settle Friday morning at the Open and the Stock Options expire Friday at the Close. Not much time to play the July contracts. Picking up some DJX July 84 Puts above 8700 would be up 100% here though :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Bob AETH is a decent play but PRSF, is hopefully basing for a move higher. It has based at higher levels only to make new lows, we'll see. It looks like I should have taken profits this am at the highs and just redeployed at this juncture. Easy to say in hindsight but this is option expiration week, right? And moves happen quickly to say the least.
Good trading Bob, steve
Out FHRX July $5 Calls at .25
I never took advantage of the earlier price spikes to get out of the Calls for a Profit. The price swings on this stock have been driving me crazy so I am finally just taking what I can get. With only a few days until expiration and the market still looking uncertain I felt it best to just close them out.
PRSF and AETH are looking pretty good here Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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