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SPY hourly chart looks ripe for a pullback
Thanks for that call earlier.
Made 30% profit......paper trading
I was looking at the daily chart yesterday, perhaps we get back to pre-brexit levels soon
After breaking even on not properly exiting a real LVS put,
I think I rest for the remaining of the day.
After mid market day, I get skeptical taking a trade.
Hey Jimmybobby
When you get a chance, around "lunch time" do you think you can respond to my query about the the trading before earnings.
I sent it around 20 mins before market opened today.
thanks
GM all!(get money)or great morning
Hey Jim
Let me see if my brain is function after a shaky sleep last night. What I was saying about the decision to trade before earnings seems detrimental on the most part because of the one the direction(assuming we're talking about directional plays.
2)The spread pre announcement
3)Perhaps theta(buying options)
4)IV decrease
They are the most prominent if I remember.
Most folks talk about joining in after the play for a continuation of the said move.
the problem with that is, of course, the move is all gone...kind of.
The IV usually get 's sucked away from the move because the anticipation is done after the earnings report is published.
Does any of this make sense?
I'm just seeing your perspective on it because I saw on the website that you guys mainly trade leading up to earnings.
On top of that,I assume you are trading weekly's on earnings for the big boy returns(when possible).
Your input sir, please. Thanks
SOrry about that, I was not in a position from a snafu. So I forgot others had not had a F@#$ up optionhouse/trademonster day like I had.
It figures that I would make 60% on a paper trade today...when the server goes down.
Anyway,I agree. The moves are monstrous at times.I was just going by the aftershock that is often galvanized by the earnings report.
For surely, we have all seen when the IV just snatches the blood out of the potential of a profit.
Assuming that you are more ITM when playing these earning plays, sometimes the spread just gets plain 'o nasty.
But, with moves like what STX has been doing and that infamous LNKD buyuout...which had moves thrusting up towards 60,000% and above, they are very well worth it.
Say Jimmybob
After perusing the optionsmillionaire site, I saw some purchases of options that were before earnings.
My question is do you have any criteria for trading earnings?
do you care about liquidity, bid/ask spread, underlying security pattern..etc
I have been told by some veterans that one should avoid the purchases(buying) of options before earning because of the games the market makers(computer programs)play and costliness.
What is your take on these points.
Agreed AD
I haven't thought about using Etrade pro since my stupid pennystock days.
I will admit, pennystocks were easier, but just too much nonsense.
I still have the Etrade pro platform set up, but I was afraid to tamper with it.lol
I have not made a trade on there since last year 6.23.2015
So maybe the entire "make this many trades per quarter for etrade pro"talk was non-sense.
I may have to look into that etrade fee for options.
What's the preferred broker,if you don't mind
Thank God I hesitated on placing a real trade this morning with SPY call 205.
But of course,....that SPY call is in profit right now on my paper trade account.
I rather miss a trade than be terribly tight-fisted because I can't get out of a winning or certainly a losing trade.
Greetings to all. Optionshouse is still down.
Do you mean to tell me that this could possibly be part of my LAGGY issues all this time??!!
By no means am I going to pass my failures off to the next man.
But I will say, there has been more than a handful and footful of times where I have wondered what is taking my order so long to be filled.....on liquid abundance securities.
I assume this is just not my story.
Thanks for the Seagate(STX)story
While that report was to everyone,I was wondering was there anyway that could have been forecasted?
Besides being a physic, or a inside trader....I did not see anything major.
The BBs were not tempting enough for me.I had my eye on FCX.
Oh well,it's earning season.
I'm not new .STX thoughts please!
Greetings everybody
Dear God, mother of Zeus.
Does anyone know if there was any indication of knowing that STX would have the ginormous dismal drop it would have today?
I mean, I never saw options % well into the 5 digits(**,***%) before
Was there any warning signal?
I can't seem to find it as of yet. Best believe someone knew of this before hand according to the open int.
GDX drop. Call em like I see em
Good to be a trader right now. Just think,4 months ago I barely knew what implied vol was and the greeks.
Down GDX, Down!!
I'm hoping for 17.10 tomorrow...hell, the way its moving, perhaps today.
I just go t out of a USO put too for a loss...
Hey, I'm seeing more and more on youtube.I have not been here for a good while.
Whoo hoo, what a market! I had to come back for this.
some of you may have seen me for a very short period during the summer.I basically just hibernated from Ihub.
But man oh man this market is so attention grabbing, I had to check out the old hub to see what the locals are thinking.
GDX was scaring because I was like this thing is EXTREMELY extended, so I place some March Puts 17.00 then the dang thing kept going up.
I was like, it can't be.I know(or I'm very close to certain) that GDX will drop tonight, if not today.
USO, I got slapped up side the head for taking a small loss, which of course, the put that I had finally cross the favorable strike price for me....after the fact.
Does anybody have some ideas on a support for GDX(retracement?)
I think my account can agree with that statement.
Man,you ever took a loss(when you were actually correct,just early) so bad, it makes you want to lay off trading for a while.
Yeah,it is some tough work.
I'm still tenderfoot about the implied vol at the in of a Friday.
I may just place something over the weekend(FCX or VXX).
Nothing too heavy.
I've been getting burned by the VXX lately.Just when you think you read the bbs right..they stretch even further. Go figure.
This is a bad market for me to be in,hell, almost any trader.
China should rebound strong
Yeah,
I see what you mean here on the hub. Sometimes ppl act like I'm asking them if they use file their taxes or something.lol
Oh well,let me check out if I can make this other trade before close
wow,3 minutes.
I thought trading inside power hour was pushing it.lol
Thanks,I may try today.
Hello Options Trader board? What is the latest time on a Friday
that one could get away with not having a option executed by the broker?
I know every broker is different but,I'm someone out there has pushed the limits to see if they could purchase a trade later on a ex-Friday
Thanks
Anybody following FCX? Looking bearish after the 28%gain earlier in the week.
In 2008 the support was around $7.60. Is that a bit much to trace support all the way back there?
Wow,out of the short time I've traded SPY that was some of the most deplorable stuff I've come across.
My concerns go out to those that sold from that heavy blood bath....just for the stock to return higher than what the sold it at.
classic cup pattern
Weeeeeee Left SPY money 198put on the table if anyone wants it!!
Man,Just when you think its time to leave,another 30% goes by.
MAN,I saw the weakness on SPY thru the Elliot wave
Yet I still second guessed myself out of the early part of the trade.
I smelled the trap earlier in the day.
Question OM, greetings
Is there anybody that does gaps as a trading plan on a regular basis?
With all this mayhem,I saw some easy gap money(i.e SPY for starters) that could have cut out a bunch of worriment.
Too bad my scared money didn't allow me to make money.
But, then again, in this (possibly 2008/09)atmosphere,I think it is an reasonable sentiment ,as long as I remain functional.
Greetings locals Is there anybody
that does gaps as a trading plan on a regular basis?
With all this mayhem,I saw some easy gap money(i.e SPY for starters) that could have cut out a bunch of worriment.
Too bad my scared money didn't allow me to make money.
But, then again, in this (possibly 2008/09)atmosphere,I think it is an reasonable sentiment ,as long as I remain functional.
I hope in the process of this correction,it is "bullish"enough to not be choppy.
Taking a retrospect of the day,I see how it was so hard to make a 20-30 cent move today. Of course after I got out,it rocketed upward.
The Bulls must have got in a huddle around midday.
Almost every chart reflect s the same thing.
I think I might rest until Friday. Nothing stings like giving back money to the market...esp off of a well planned winning trade.
I think I'm gonna be sick.
My put I sold just at power hour is in the money 3 times deep.
I really have to work on my endurance. Left some good paper on the table.
It's ok,I'll take my tiny 30% gain anyday, than the other end of the spectrum.
A tussle with the Russell
Man, I earned that 20%. I was tussling with the Russ for like 1 1/2 hrs.
What really peeved me was I wasn't even going to trade today but,I saw the signal.
Then I farted around and missed that entry.so I sweated it out til power hour. Got out near prevs day resistance...of course its going lower(put order)than the price I got out.
turned out fine.
Awesome
It sucks somewhat. Just figured out after switching from Margin account to cash,I was getting the short end of the "buying power"stick.
I knew options were t-1 not t-3.I kept wondering why was I not getting my full cash back.
Turned out to be a simple mistake..so I assume.
I'm not strong enough to wait until Friday to trade but, I could use the leverage big time.
It's kind of intriguing when you catch yourself TRYING to make a trade work when you really don't feel the odds.
I was messing around with Trademonster this morning and they held me up.
Who knows,could be a blessing in disguise. Although I missed my stress free morning profit....
same here also.
waiting on the pounce .Can't believe how strong those 5 consecutive green bars been for the VXX. It's morphing time!
Thanks for the response.I'll try my luck in this live chat with trademonster(was optionhouse) and see what happens in regards of my cash account.
Hey everyone . Q
I haven't really been chatting much but ,I've been aware of the board for at least half a year.
I have a question .Has anyone ever had success or even tried to talk something out with their broker about the delay of a fill i.e the order was @2.89 and the fill was @2.69.
Understanding that I have a better chance seeing Donald Trump when an election(it's all a sham)than,my broker even acknowledging a request for a better fill,after the trading day.
Has anyone ever done anything of the sorts?I'm really trying to stick to a super strict goal here as far as stop losses.
Down with the market Down..wait a sec
Let me put another bear position on for tomorrow, then down.lol
On the yearly chart,SPY looks as if its at the peak of the year with all this china biz. Man, I'm still loathing over AAPL last week.
I missed my 2200%because I hit the wrong type of sell order!!!!
A put on VXX early this morning could have made a wondrous gain.
A may try again tomorrow or some other time this week.those bands are dangerously out of shape.
Where is your BTO EEM at now(after hrs?)
good luck
I'm looking for a decent pullback,or retracement I should say tomorrow.
I got burned pretty good on VXX puts. Just when you think those bands are about to snap...they stretch further.lol
That freeze was ungodly this morning
I was wondering did you get the first message that I respond to you about buy puts earlier?
Yeah, this day hopefully becomes more calm by the end.
better to make a profit without pulling ones teeth out from stress.lol
Naw, it's the same story
Wish everyone luck who still muscled a 70% plus loss.
But seriously bro,if you've noticed my MJMJ appearances have slowed down steeply.
I'm pretty hard on myself as far as discipline.It's fairly common to hear cut ya losses short and let the profits run.
I find it,maybe just me, when I steer away from holding steadfast strategy.....it never goes well.Lately,I've found this pennystock "buy and hold forever"business is not conducive for my trade plan...a pennystock at that,which for some reason the majority of the professionals on wall street stay away from.
Just like any workout program.It's like being inconsistent with the routine and excepting the results to come steadily.
But seriously,I don't like to go back to a job after I leave as far as anything beyond visiting the old co-workers...
Really,I'm not even a forum type of person so,I won't be back too much on "ex stock"forums. It's over for me.Couldn't really
care too much about the line up MJMJ has down the path. Sure around June,I was more game.Around early July was still game-ish.
Now I'm just like whatever.Lesson learned.
Get what I mean, I've already been financially severed so there's not the same mental hold I had on this stock at one time.
Ahh, I remember those days when there was a certain price border I would stay on the stock(support)until it went lower.
I'm sure there is an MJ market out there that needs attention,but it may be in 2016, 2018, 2021 who knows...2064.
Well, my threshold has been satisfied from the original entry along with other "pre-cannacamp"investor(whoops,those that are still here from extremely strong tolerance)
This stock can do whatever it wants now as far as my money's concerned.
Will it go back up?Well hell,sure,there's no other place to go. Technically,you could say.
It's been a good lesson.I'm not mad,thanks MJMJ. I may tentatively be done from pennystocks(at least for the year).
Now my goal is to see how fast I can gain back my money I lost in this...ticker.In half the time I hope,or quicker than I thought, like the trips that are very comfortable with MJMJ.
Fairwell,MJMJ I done with the stock(most likely for good)
And so it was written ,in the book of Joel: 10:08 I was stopped out MJMJ.
Thy shall cometh back(again) every now and then just for the sake of visiting an old neighborhood.
No prob
Cycler,you're a great advocate for MJMJ.
You are one the few that actually goes to the site of the company.
That can be respected.
What can really turn one off is the amount of excuses that are proliferated in the realms pinkys,bb, otc.
Well, we're already in trips...
I don't know what else more to say.
good luck everyone