To close out the day, I bought shares of DANG to hold for the next few months, and averaged down my ANGI calls (I rarely average a loss in options).
Again, we absolutely killed it today as 90% of my holdings traded sharply higher today. This is not a coincidence. We do this often. The trick is knowing that money is not coming out of the market. In every down tick in this market, there are stocks on the uptick. In other words, focus on our methods that help you identify where the market’s appetite for risk will be next. While idiot investors across the country sell out of stocks today because the Dow is red, we were already positioned knowing where the next buy opportunity would be. In this market, it’s all about the rotations.
I get asked often, “how does one develop confidence in their trading ability?” Well, today is a good place to start.
OA
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Great day! Thanks! !!
Picked up some $CRME thoughout the day. It’s really thin, but if you can, would you please comment on it at AH. Tnx!
oh ANGI, that poopiest stock ever.
turnaround time.
Just Wait…
in with ANGI Feb 15 calls.
its my 1st date with her, wish me well.
If you entered today – at worst you will get a blowjob, at best you will get the full ride.
(I would make a porn reference here, but I just can’t).
Right now it’s looking like blue balls! I like a good tease myself, and averaged down on the Jan calls @.25
is there an ahwoa today?
Yes
Supreme.
OA– How do we get today’s ahwoa?
Just log in: http://ibankcoin.com/afterhours/
OA doubled down on ANGI awesome. I have 10 Jan calls. Took profits on YY to buy more.
lotto PCLN weekly for tomorrow.
We are in the same boat with ANGI – either a great date, or a very disappointing one. Personally, I feel lucky !
Unless you got at least 2.50 for your YY calls, we need to talk about your trade planning and exit strategies…..
3 calls at 1.30 for about 40% profit. rather sit and wait seeing how little the premiums were building relative to the share increase today, decided to move elsewhere. i was impatient and need to work on that.
Those options were/are worth 3.78 at target – and you traded them for a maybe.
The stock already proved it could move – as OA always says – you wanna be right, or you wanna make money ?
With enough plays on you can get your instant gratification WHILE making serious coin.
Just sayin…
+1
I plan on getting in on a pullback along with YGE. thinking the pcln will rip tomorrow to happen. For DANG, I will attempt an order at today’s lod for the feb 10 options at .62 🙂
Bought DANG but ANGI can go “F&^CK herself. That stock is going in the same place as TSLA buried with Jimmy Hoffa never to be found or invested in again…lol
Um, it is really hard not to say “I told you so” – so I will refrain by saying “I TRIED to warn you”.
YOLO MS ATM for the 18th of this mth
Please keep us apprised of how this trade works out – it has the potential to be a nice mover !
new years resolution..buy when Jeff buys,sell when Jeff sells..rinse repeat…you new guys,he is in the zone
+1
+1
+1
Hell,
+5
oh yeah ,,,market was down big today,,did ya even notice?
Market ?
Market ?
Shoot – I thought we were trading individual stocks…
What’s the deal with the class action against Angi?
LAWYERS
SEEKING
MONEY
Jeff,
I think there is a strong argument to be made for an “Analysis of a Trade” on TWTR for part of one of the sessions next week.
With new members in here – I think the TWTR example is illustrative of:
OA – Trading Style – Stocks that are primed for a move, despite naysayers, pundit oblivion, and general disinterest, in fact even FB biased negativity
OA – Entry – WHY does one enter a trade ? WHAT triggers an entry ? WHY will this stock move NOW rather than a month from now ?
OA – Execution – Trigger on the trade, BELIEF in the trade, sentiment cycle, patience, and finally, fruition
Market – The “chase” effect – gee people notice that this thing has risen 2, 3, 5 points and want to get in – hey people chasing drive prices higher
Speaking as a (relative) newcomer – I think this case study would be really helpful and illustrative of your particular trading style, what to expect, why pullbacks CAN be positive etc., To be completely candid – your trading style is a little hard to understand, especially for people used to the “pony tail” prognosticators”. Your certainty in the trade will be a refreshing drink of spring water to many who are used to hedgin and hawing. I see it in the room as people take off 35% gains at the expense of 120% gains.
I don’t say this to rehash old glories – but rather to demonstrate in real time, with real numbers the anatomy of a classic OA trade – as this certainly was.
If nothing else it will serve to open the eyes of people who (formerly like me) were skeptical of these seemingly pie in the sky trades.
I think 15 to 20 minutes would suffice.
My .02
Sounds like a plan to me.
$SWY looks pretty good
I’ll be jumping on the OA train in the next 2 weeks.
Careful on the platform there…
This train is moving pretty darn fast right now.
Welcome !
A Confession on FSLR
I must confess that my trade plan last (Wed) night was to liquidate my rather heavy position in FSLR to preserve premium. In chatting with OA, he posed the following question to me:
“If you liked it enough to BUY in range, why do you feel the need to SELL it now while it is trading in range ?”
A tough question for which I had no answer other than emotion – I held on to the positions.
Moral – emtotion is a real profit killer in this game. I need to work on taking emotion out of the equation in 2014.
@lan, we need to turn you into a robot.
Armed with your ability to get great trade entries, and the inability to experience human emotion. Robot Lanforce would infallible.
Come to think of it, do we know for sure that OA isn’t a robot? (some of these trade ideas are superhuman)
YY looks to be the parabolic mover of the day…Beast Mode to $55
I’m thinking 56-57
Target was 58 with a stretch to 60
Target sell on the Jan 55 option was 3.78
Congrats guys; I didn’t take this one; chose FSLR instead
I’m with you lanforce. Emotion is my biggest weakness. I need to work on better entries, and viewing each position separately. I get emotional and tend to take quick profits on one trade to make up for a loss on another. Almost always regret the sell IMMEDIATELY after the trade closes , especially when the position I was trying to make up for pops a day later. I struggle with patience but believe my habits can change.
Over time this will change with experience but it will take awhile. Emotion generally comes from the uncertainty and potential for great volatility (and basic psychology but that is another story). Try a position size where you won’t get emotional, and/or fewer positions and take more of a lazy approach to it as opposed to micromanaging it. Then as you get used to booking wins and as it becomes more routine then you can scale up the risk a bit.
No one brought up TSLA yesterday, but if it stays in this range for a few more days, it has the look, no? Nice pocket to 175..
Nah, this is going lower.
Wtf is going on with CTRP???
My only guess is that money is flowing out of CTRP and going into competitor QUNR. My CTRP calls have gone from up over 100% to falling down an empty elevator shaft.
jumped back in some F52.5s at .30
panic is what happened.
Guess I have no choice but to double down now…
FXI is falling out of its multi-month channel trendline
@Danny
Still a GREAT entry for CLF today, if you’re so inclined.
I joined the ANGI party and got some DANG this A.M. And enjoying having positions in the 3d printer boom.
@Matt_Bear
Check the CLF chart – almost perfect rising rounded bottoms.
My GLD YOLO was a NO NO. Go CZR!
closed out HCA calls for 120%.
baby steps for the new years resolution. i held 1 extra day and netted an extra 20%. 😀
holding KNDI short from yesterday, will wait to see what happens at 13 to decide whether or not to close out.
take your 20% and call it a day
buying puts on high flyers is risky
the same 5% move on calls would of been a 100% gain
I took CLF entry and lanforce and YY made me look foolish. Thank u I am humbled for selling YY yesterday
YY….. Becausebecause
Don’t sweat it Grasshopper – we’ve all done it.
Personally I am trying to avoid the same scenario today with 3 positions up over 50 percent.
Pray for me.
I picked up some DANG Jan calls, follow the leader.
Also got some FXI, looks easy to manage
Bot CLF’s $26.50’s Jan 3’s at .60
The ESI chart is looking like a classic OA pick
Question: Anyone know of any good books or reads for trading options. I was going to ask in last night session but I just want the recordings since I am PST. Thanks.
MacMillan’s “Options as a strategic investment” is an excellent resource
Thankyou!
Taxmonster – why not learn from the best? OA recorded the Options Basics Crash Course for memebers.. links posted below:
http://ibankcoin.com/afterhours/2013/12/09/recording-options-course-session-1/
http://ibankcoin.com/afterhours/2013/12/10/recording-options-crash-course-session-ii/
http://ibankcoin.com/afterhours/2013/12/11/recording-options-crash-course-session-iii/
http://ibankcoin.com/afterhours/2013/12/12/recording-options-crash-course-session-iv/
http://ibankcoin.com/afterhours/2013/12/13/recording-options-crash-course-session-vi/
VMW and CZR looking great
VMW looks good. I bought some last month and will add on any market pull back. This is a long term hold for me. Brokers are talking it up, the press is favorable and they are exceeding their sales targets.
still not in CLF. might pass on it.
I got stopped out on CLF just now.
Bot CTRP here at it should put in a higher low off support. Got the 50’s Jan 18’s at .65
MS looking good. Slow and steady
Today I’m mostly watching the SPY. It looks so bloody timid. Will buyers step in after lunch?
f’it – sold a pair of my YOKU f31s for 50%
Ha f’it also. Just after I posted on MS I lightened up and moved proceeds back to CLF…
Good lord; one bad day erasing all gains. Down 10% today
In your same boat, but i could’ve saved myself by NOT selling YGE yesterday like an idiot… good call prabz
How much are you allocated into options?
Those small finger size BandAids are generally the perfect size and shape to cover the “Total Balance” field on most trading screens.
Just a thought…
Danny don’t sweat it. Lots of POMO on deck for next week.
Looks like YGE is doing a decent job punching through resistance – 1 more point and smoot sailing to 10.
CTRP aversion ,,, any thought ? Not double down yet, watching.
So why are the YGE $5 Jan’s asking less than intrinsic value? No time premium whatsoever.
not a very liquid security = inconsistent pricing
CTRP and QIHU – yitch
Don’t shoot the messenger but SLV is looking strong. AG lagging as usual but usually catches up by EOD
agreed, havent wrapped my investment thesis around this space entirely, but it is the space with significant aversion and disgust. if youre in this room, you know where that leads on some horizon..
the leg down on ctrp looks like the sentiment is moving from panic to discouragement , next stop @ 41.25
anybody taking ANGI calls here ? not sure it is good or bad ..
i put in an order for $0.20. will see if it gets filled.
what month and strike?
Jan ANGI $15’s
I think it’s already bottomed and bounced Twinkies – if you want in I think 0.25 is gonna be your cheapest entry.
yeah… i came to that conclusion as well. so my order is at .25 now.
thx @lan
I doubt it would get that low, but I would only be interested in this if it reaches around 12.10s…
angi not doing so well
Just picked up some Feb CLF calls. First time in a long time. Hoping to dance that 1-2-3 waltz…
For CLF, around 25 looks to be the retest spot, so good entry…wish I’d have been as patient and not gotten in yesterday.
yoshii11 – We’re thinking alike. Good luck to you!!!
ONe more day in aversion – then I think this thing has liftoff.
of the 3Ds, I really like how XONE has been acting…I think the volume back on the 27th was telling…supported by follow through…great for the sector. My date with ANGI not going so well, but its just dinner.
Down day, big deal. We’ll probably all be happy next week. provided we don’t freak out and sell a bunch of positions at a loss today.
warned folks to be not so cautiously optimistic yesterday as days like today have been often and plenty. Market flat or down slightly but the solars, social and china down big. Solar actually holding up nicely…well some only.
Anyone bottom fishing MLNX?
OA,
AAPL calls here.. wise opinion please?
Scary…
any appetite for Z or just leave it alone here?
I’m tempted, but I’m no expert
OA what is your take on CTRP here ? bail or double down ? not yet broken ? Thanks !
in my humble opinion, CTRP looks like a broken trade. Draw the trendline from 11/26. That said, you have 2 weeks left and can probably get a better price to bail out on a retrace up to 47ish.
YY should be clearing most people’s problems today.
I added to YY yesterday, so it helps..but DANG, my date with ANGI has me CTRPing down a CLF…gonna need a VJET to pick me up. Guess i should have bought her some KNDI when it was on sale.
lol, well played.
Yoshii11
That’s epic…give it a boost with GMCR jan80’s
oh thanks, I do like the look of that. I think I will pick some up, possibly Febs as I sometimes go conservative.
IDRA broke 5 day, congrats.
in jan week4 CLF 26’s for 72 cents.
Thanks’ I’m in.
How do you find this stuff, you’re the serial hunter.
for CLF, i can visualize the beginings of a flag. Draw from 12/26 and 12/30. If so, this should be about the bottom. I went an extra week after jan opex for “safety” since i could get almost the same price as OA’s original jan price of 66
thank you for the compliment. i like to hunt for cobra’s in the dirt.
Great methodology on CLF
I don’t want to think too much about the cobra.
Perfect entry, Matt
Guys, Chess posted a great note on some airlines, JBLU, LUV, and another one I already forgot…
the charts are solid.
Easy layup on AG here at 10.28 if anyone looking for an afternoon trade.
check out MRE.to (line chart) for a sentiment overlay
ANGI – Could this be an ABC reversal here? With A being mid-Nov to mid-Dec, the B being $14.70s to $15.20s which matches the range in early November, then a higher low C on the pullback today? Only concern that volatility is pretty expensive…
VIPS actionable or dont enter since yesterday didnt hold?
Man I think I gotta take a break. I’m over trading when I should just be sitting on my hands.
It’s definitely have a sandwich time today.
The trades are gonna do what the trades are gonna do.
YGE popper next week
PCLN…I say we get some Jan call action on..crazy huh?
MS is looking sooo very nice