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BTO CMG 410 puts @ .45
Now out for real
BTO
TSLA 215 Puts
GOOGL 720 Puts
SQ 14 Calls
On the run this morning....back later
SF Fed's Williams Says Will Push For Rate Hike As Soon As April
LBO! Or just a halt to say hi, stop selling us....
Let's see what this halt is about
That's funny on the timing....I was just looking at levels to get puts
I'm boycotting this year....didn't get into the Warren Buffet pool
Yoooooooo
Sell 6 contracts to cover cost and ride the rest for free to gauge how much profit you are comfortable with. Sell in the first 30 minutes when IV is inflated
Sounds about right.....I had $20 as an area where I might nibble
AAPL
Gun to my head...think we can see $110 at some point. It just broke out of a C&H pattern with a measured move taking it to $115.19 area and a bullish MACD cross on the weekly, but RSI and Stock are overbought on the daily. There is a lot of resistance and overhead supply in that $108-$113 area. Best to buy ATM or slightly OTM options to scalp daily imo.
There's not a single person on this planet that can tell you the answer to that. I trade price.
I also trade futures....but this is not the board to discuss that
Always options.
GDX
This has produced a price pattern that has now opened the door to some potentially amazing moves. Mind you, it's not likely, but now possible after last week. Likely scenario is consolidation following the recent 'too much too fast' price action. However......
IF GDX stays over $19.70 & goes through $21.85-$22.25, then $21.80 becomes support and there is a straight shot to $25.25 (IF this happens it will happen early next week).
IF we then break through $25.25 then $36-$41 can happen VERY fast.
But again.....consolidation is the most likely scenario.
Careful on AAPL this is one I trade daily, often multiple times throughout the day, and also the largest/longest holding in my core portfolio. It just broke out of a C&H and is looking strong. Apple is a beast and tends to march to the beat of its own drum. Doesn't mean it can't or won't head lower.....still hasn't invalidated the longer term H&S pattern yet
Here is my last nugget on CMG before I leave to the bar (wife and daughter took a trip to the Bahamas....so I'm gonna exert my right to bachelorhood):
Every company is entering or going to be entering their buyback blackout period. By definition it is set 5 weeks prior to ER announcement. CMG entered on Tuesday fwiw
Agreed.....a good kick in the teeth is usually better medicine for a new trader
Unfortunately you have chosen one of the toughest times in the market to learn one of the toughest (but most profitable) instruments. Best advice is trade a practice account for a while and keep yourself accountable by keeping a log of trades. This will allow you to look back at why you took the trade, when you entered it, what went right, what went wrong, and what could have gone better.
There is no golden trading strategy.
What works for one, no matter how much they say it's their proven, profitable, best strategy ever.....may not work for you.
That being said, you need to develop a plan/strategy that you're comfortable with and TRADE IT.
The bad news, most good traders I know got that way by getting their teeth kicked in to the point of wanting to quit. It took losing a lot of money to force them into making a decision: quit or get disciplined.
Don't trade unless ALL of your criteria are met for your trade.
Learn technicals and use them for entry and exit. Computers do, and they are the majority of the liquidity in this market. You should do the same.
So, I'll post my rules for DAY TRADING (I trade a lot of swings, LT plays, short trades, spreads, etc.) but this is only for my day trading. Essentially scalping trades I do daily.
Good luck to you, and one last piece of advice, get comfortable with losses, they happen. But keep the losses small, and let the winners run. If you get on a real bad string of losses, step away for a week and reset. The market will always be here tomorrow...
RULES
- NEVER trade before 10:00am (10:30am on Mondays - if at all)
- Buy ONLY slightly OTM options
- If the play isn't there....DONT PLAY
- Close all ORB trades same day
- Get 30%.....no matter WHAT (100% on earnings)
- Keep losses SMALL/Cut trade immediately (20%) if goes against you
- Tune out noise (message boards are full of it)
- LOG ALL PROFIT/LOSSES DAILY - Nobody is going to keep you accountable like you will (Deleted my name here)
- Use ONLY excess profit over 30% for lottos
- ONLY day trade: AAPL, AMZN, BABA, FB, GOOGL, IBB, IWM, NFLX, NDX, PCLN, QQQ, SPY, TSLA
- Keep your charts updated daily. Always be doing your homework.
*10 Singles are 3 times better than 2 home runs
PCLN volume 136k in first 30 minutes....
Sold 1/3 CMG Mar24 $450 Puts @4.00 from 1.20
Sorry Charlie Murphy...I was having too much fun
Good morning. SPY ex-divi today
CMG looking nice and sh!tty...
Attaboy....nice trade
BTO PCLN 1380 calls @ .75 (put order in for 1.15 fwiw)
Gotta have a green close on St Patrick's day......can't have a bunch of pissed off traders running the streets drunk
PCLN
Ignoring all the squiggly line noise in my chart, the important part is the orange trend line. I've been watching this for a while now. Price broke above yesterday, I'm hoping for a false breakout signal at some point, but if it bounces I may take a weekly ((this week) position for a move to 1385.
Morning.....lets hope CMG takes a big green poop
Should also note the breadth and strength in the market.....it could take a week or two to run sideways and take off to next resistance at $1385. We shall see
Run the weekly chart again with a 5 period RSI and Stoch for relative near term signals. It still needs to come back down at some point and retest the pivot @ $1247.39
PCLN could still take the 'time' route to consolidation to work of its overbought levels (both RSI & Stoch), but it's been a straight road up. Needs to retest that 38.2 fib and TICK maxed out at 1200 when I entered the trade. Figure it's as good a place as any to enter, even with a seasonally strong St Patrick's Day tomorrow. I'll add closer strikes on any strength.
How does Gartman still have any money left?
VIX Plunges To 2016 Lows After Gartman Says "We Are Buyers Of The VIX" | Zero Hedge
http://www.zerohedge.com/news/2016-03-16/vix-plunges-2016-lows-after-gartman-says-we-are-buyers-vix
BTO PCLN 1250 Puts @ .90 (next week)