satorino-I don't have anything that is proprietary. There is no holy grail and what works today may not tomorrow. The secret is discipline, something I have been very short on but getting better at. I was late getting back into the Q's (actually QLD's) because I still don't have the discipline to act on what my charts were telling me.
I posted my favorite chart and it shows on 2/11 the MACD h crossing zero, stochastics rising above -25, and a close above the 8 day close. I think this is a great signal for trading my style of options. I really don't need the stock to make a great big move, just not move too close to my strike price. Timing is not all that critical either. Even though I got the good signals on 2/11, I didn't put the trade on until 2/16.
I am finding that most lower priced stocks don't have a good return for risk, but stocks that are more expensive are better. Apple has been great. GS closed Fri at 167.18 and is in a real up trend. The easy money has already been made for a move up, but I am thinking it might make a good option play. The Apr 155 put can be sold for 2.35 and 150 put bought for 1.44. For two options this will give a credit of $182. The max loss and funds required is $1k, so this would be a 18% return. I will have lost 3 days of time by tomorrow, but I guess I can still get at least $170. With a strike of 155, the stock would have to move down 7.3% to hit it. I'll see how I feel about it tomorrow morning.
Jon
AI
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