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As I came back QLD is gone on stop at 71.50.
I have bought few QQQQ May 45 Calls @ 1.03 again.
I do not want to carry QLD over night so I am not buying it.
QQQQ position is 2 X.
Bought F Jan 2009 calls for 35 Cents, adding some profits on to build a option position also, I hope to sell it for 1000 % increase.
Farooq
April 44 QQQ calls are sold for 86 Cents 23 Cents profit, QLD Stop is now moved to 71.20.
I am holding May QQQQ 45 calls.
Action positive, so hold on, most advance will be in 44 April calls, but I am not so bold.
Edit: Sold May 45 QQQQ calls for 1.17 need to leave the desk.
Long QQQQ May 45 Calls 1.03 3 X, April QQQQ 44 calls Long @ 0.63 1 X position.
Also long QLD 70.95. I will use tight stop.
smartone,
"Intel is not rolling out SSD until later this year."
Is market not discount mechanism for future?
Let see what happen on earning release.
I agree to disagree at this time, you may be right.
Stopped out on my calls for 1.40.
Long April 43 calls for 1.30 stop 1.20.
1 X position.
Farooq
Smartone,
INTC is going in Flash HD area, new growth area, so you may see a different reaction from market towards them.
Every thing is possible but in this time I feel strongly that 43.45 will not be taken out, but take my commitment with grain of salt, because I change my views with my program many times.
Thank you again fr sharing your views and logic.
Seems market is targeting 43.80 and 43.60 area. I will be watching closely there to go long but I will use May options, I will use very little amount for April options.
Ray is good in near term options, If likes to post we may have hint for good accuracy.
Like see views how one is thinking to play it.
TIA.
W@G1 QQQQ 04/14/08 for a 04/16/08 close
W@G1 QQQQ 04/14/08 for a 04/16/08 close
44.75 rayrohn
44.20 Farooq
44.00 dr_sean
43.50 frenchee
Long UWM 48.50 stop 48.30, target 49.30.
All signals went long I will trail stops so do your D/D.
Happy Friday.
Edit: I still think Fed is supporting market so except for short term fluctuation we are not going down much and we are in buy the dips mode, All who are left and were short now support the market.
GE earning is down that is why it was trading down, now the vision of market discount is obvious, participants will evaluate situation.
One thing is dangerous that in 10 Years this first time even they did not know that they are going to miss so big. Market need to give it self more discount so rallies will not be very strong in May and June. IMOP.
Sold yesterdays carry over QQQQ April 45 puts bought at 40 Cents sold for 75 Cents 35 Cents profit. Need to go so may not be able to post more.
NM,
This is an excellent post, I practice few of these thing.
I am suspecting OE would be around 45 I mentioned this possibility few days ago, In bullish environments I noticed MM tend to wipe out Max pain to rosier side.
I also like your adaptability in changing condition, I am still trying to over come on this problem.
I thank you for sharing your insight.
Farooq
Roy,
I am also bit slow from last few days, kind of reluctant to pull triggers.
I still fears options comparing to stocks, although my win loss ratio for both are same. Past trauma in option trading still follow me some time.
My personal bias also hindering some time, if I just follow my program I will be very happy. Oh I am still happy but there are some days when I think more for missed opportunities. Part of the game.
Happy trading tomorrow.
Roy,
Losses are part of the game.
I sold QQQQ April 46 puts @ 88 Cents 7 Cents profit. That is 4 X.
Now 1 X April 44 puts are left, due to abnormal volume like to see 1 more day on them.
Hi Roy,
Good morning, great job. I was long UWM sold for 50.10 you are doing great.
I am long April 45 puts from 40 Cents and April 46 for 80 and 82 so average is 81 Cents.
5 X position. Except for RSI every thing pointing short, but I have a feeling it might reach 45.90 before descending I could be wrong, I might close on a stop.
Happy trading.
Great call Ray, You DA MAN.
Congratulations.
Farooq
fasttrade,
You nailed it perfectly.
Spelling of my name is FAROOQ, LOL.
Happy trading.
Sold April QQQQ 44 calls for 1.35 that is 16 Cents profit so bit more then 13 % .
fasttrade,
IB showing 1.96 for low of the day, you got discount.
Farooq
Bought QQQQ April 44 calls for 1.19.
This is non signal trade. I could be totally wrong.
Trade is initiated that S 3 will create resistance.
RSI CCI trying to change. I am front running them with stops.
Follow your own stops.
Sold April 44 calls for 1.35 10 Cents profit that is about 7 % profit. I will try to pick them back if possible.
Beerworld,
CCI 12,6 cross, RSI 14,5 cross MACD and ADX trending on 15 min.
LSMA 34 on price action and I think S3 could be a good support so R/R could be in my favor.
My usual program give accumulative signal.
Long QQQQ April 44 calls for 1.25.
W@G2 QQQQ 04/09/08 for a 04/12/08 close
47.12 bob3 same as wed.
46.70 frenchee
45.20 Farooq
44.70 dr_sean
sammy1024,
"some people make it seem so easy."
Only after 35 year or 40 + year of grueling hard work it does seem easy, I agree with you.
They still lose some time.
I was down 100K on Ford few days ago, was the ride easy, no absolutely not. It is an investment so I need to stick with it.
What I did I bought leaps on it on current bottom.
You learn as you go and then it becomes some what easy, you still need to do your home work every night. You go through your mistakes, process why you did what you did, then a plan how to avoid it.
Happy trading.
Hi Roy,
I sold them as plan.
My Ford has caught some fire, I have some options on it for nine more months so far they have increased 50 percent. I hope to make 1200 % on them, LOL I am serious.
I feel a real good feeling when you are trading your experience and depth of TA and applying it a big asset.
I think you are making good money on JPM and AAPL.
Happy trading.
Thanks be,
I like to read different boards time to time. I use to trade like NM does but now I mostly try a trend trade for short time frame.
It is good to know what other participants of market are thinking and doing. Those who survive few years have few tricks under the belt.
Other then politics this is a good board, I skip those post.
No body change there affiliation because of posting on board so it is a futile effort on part of the posters.
As a trader they are good so I try to polish my views or go back and see evidence where I am wrong. Trading is ultimately about making money.
Although in the end easiest path is to follow my program, but it becomes boring some time so I shoot some time randomly.
Good luck and Happy trading.
Farooq
Fasttrade,
I have noticed there are three to four times in index options where one can double the money. I am trying to play out that observation. I am happy if I get 60 to 80 % on each of those times.
I think as a team if we try to figure it out we all will be benefited.
Taking profit and taking it out is real game other wise it is house money. I draw my 90 to 95 % profit out every month from my trading and option portfolio.
I do increase my long term investment periodically and try not to use margin on them. If you like to share your money management tidbits I will appreciate it.
Happy trading.
NM,
Agree with price action theory, but DA BOYS have more to distribute, which they could not on higher price so they are doing here at discount. I think we go down here before going to your 4CAST.
OE would be now 45 IMOP.
Farooq
Long April46 Puts @ 0.89 Cents it could drop to 20 Cents any minute now, Just wishful thinking.
No volume with increase in price, look suspicious.
Farooq
Edit: Sold them for 98 and 99 Cents It is better to take profit when they are available.
Going on break.
I sold April 47 Puts for 1.80. Yesterday I did bought 5 X April 46 puts for 61 Cents sold them today for 1.12 and 1.13. Now flat.
Signal is trying to become long.
Happy trading.
Ollie,
I want to share with you one thing. When you go above PDT, Do not, I repeat do not trade on margin, trade options like ray is doing or some what I am doing. i like my numbers what I am looking in my option portfolio.
JMHOP.
Trade in margin account but do not use margin. Trade as much as you like.
I am still long my puts.
Bob257,
I am in red now I like to see closing but my stop is 99 Cents if it dropped to that I will be out. I have 1 X position. I am testing water here.
I have a huge, actually humongous position in Ford (F) and I am very pleased it is moving up now.
I am taking JAN 2009 10 Calls at 0.24 Cents I hope to sell them for 1200 % profit. This is gamble when reward is 1:12.
Do your home work I do loose on my gambling position, they are called gambling position because of reason.
Long 47 April QQQQ puts 1.18.
W@G1 QQQQ 04/07/08 for a 04/09/08 close
46.85 frenchee
46.92 Farooq
Here are few thoughts for coming week. We are trying to reach our target, but we might try 44.40ish area in coming week; a strong violent move could try 43.20 but I will put only 10 % credence on it.
We are going to try 45.20 and 44 before OE. OE is going to around 45 and worst case is around 44.
I am looking forward for other views.
TIA.
Look at daily chart and see divergence on all three indicators on second low attempts.
I feel if like minded people are doing something together they can gain more then individual effort.
Farooq
I am leaving for Juma (Friday prayer) So taking my profit here 77.20 target was 77.75.
Signal remain long. See you all on Monday.
Beerworld,
Thanks for the link.
My Question to Bob257 was weather he finds TRINQ and TICK data more important then any other Indicator he uses in his trading?
He misunderstood that I want to find out about TRINQ and TICK.
I have not used them in my trading model. "be" Use them and I am aware of it for long time, my interest was if some one who use NERS for primary trading find those 2 indicators more reliable then NERS rules for entry and exit or In my case modified NERS rules.
I am always ready to learn few new things. Although I come back to same old rules.
BTW I am long QLD again from 75.90. stop 75.60, not an Ideal entry but I was not sharp all the time.
Happy trading.
Roy,
It is a strange market, I sold QLD for 76.70. Indicators are mix so better stay on side line with profit. I sold on RSI signal others were stil long.
I will be in QID soon.
Long QLD @ 76.10 stop 75.80. target 77.
Edit: Roy, good scalp, I move stop to 76.20 why loose good money.
Bob257,
After reading your post I came to conclusion that TRINQ and TICK is the most important in entry then any indicators. Is that is true for exit also?
By the way I never watch TRINQ and TICK for my trades.
I tried my data vendor but they do not provide.
I learned from different posters here (Those I think are success full) that keeping it simple works best.
The most important element is acting on your plan and switching side, Thanks to Nocona I learned it from him.
Second important thing is jumping in I use to miss a lot of trade, I still do but now I trade less and enjoy reading more.
This board has changed a lot off my trading.
Thank you to all contributors.
Thanks to you for sharing your success secret.
Do you have same set up on 1,5,15, minute chart?
What I understand it is same.
Farooq