I left town last night, only to arrive at a location that was unfamiliar with the internet, and access to it.
Being down most of the morning, I missed an opportunity to close a few things from yesterday morning, and as a result am creeping back down to equity lows for the year.
As it goes, I am watching for a crack in the S&P. If so, that’s where the real fun begins.
See you on After Hours with Option Addict in a few.
OA
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dam, real fun? so time to short?
Awesome…more fun!
So is this still working according to your risk cycle you spoke of earlier? Not trying to kick you when you are down…just trying to understand the method. TIA
Yes, it does.
Thanks Jeff
PHOT – SEC suspends trading … suspected fraud
There’s the break. If i had any balls I would have sold some ES_F contracts…
I feel my 100% hind sight kicking in.
I can see it all so clearly now…
Amen.and this only a normal historical selloff but when you live by the option sword etc. etc.
Boy. Things were so different just 1 month ago. Fml
I voted bearish on every poll in ahwoa. Only thing I’ve been right about
GOGO almost all back. but great long term news today.
Reentered $ROSG 4.10 today.
Metals, grains, softs, and crude all holding up pretty well.
I thought the bloop down would be Friday, now gotta look for a bloop up maybe middle of next week
s&p just cracked.
I think we are setting the low today. Call me crazy.
One can only day trade this market no way to take positions you’ll get DICK punched if you try.
Going TWTR/KNDI/FEYE combo…. going to call it the three headed monster.
Matt Bear – what do you do for work?
make money
i held a piece of TNA thru yesterday and got skinned on it today, that is the way it works..so in retro jacked rabbit, your CRM trade worked out just fine
Worked out very well, azul, thanks much. Decided to over trade, though, with an ill-advised TZA put YOLO. Thought for sure this pullback would give us a higher 1-2-3 low
QIHU yolo, or better off lighting a match?
I wasn’t buying yesterday’s pop and I’m not selling today’s flush, both seem fishy just whipsawing discouragement phase i think
Even though it was uncomfortable that last hour yesterday selling the rip, it certainly paid off today. Referring to my post from Monday night:
http://ibankcoin.com/option_addict/2014/04/07/trade-ideas/#comment-35455
GOOGL Weekly 555 Puts @ 4.30 (horrible fill yesterday), closed today @ 8.60.
SCTY Weekly 58.5 Puts @ .90 today, still holding.
AMZN Weekly 320 Puts @ 1.90 yesterday (again, horrible fill…didn’t expect such a strong close yesterday), closed today @ 4.20.
+1
By the way OA, my comment on letting winners run being a bad idea wasn’t a shot at you. It wasn’t really a bad idea, just didn’t work out obviously. I probably didn’t word my comment the best.
when I read your comment, I didn’t think you meant it as a shot either. we’ve all known for some time this year that there’s a time to let winners run, but we’re not in that environment right now (unless of course you took a long dated short position that could have been allowed to run). the time will come again to let winners run…its a cycle
Yeah my main goal is to preserve as much capital as possible right now so we can knock it out of the park in the coming months.
since you’re maybe still in PHOT, take a look at CANN, which resumed trade today. although down, it performed well off opening lows. hopefully the outcome is still income for the phot longs. long the weed basket, and hope the fear of SEC weighs heavily on those scheming in this space…the ones that have just a mailbox as their address.
Dude I actually sold all my pot stocks a few days ago except MJNA and HEMP. I figured their isn’t much upside here. I hope to buy back in cheaper. Not sure what’s going on with PHOT but if it’s all clear then hopefully I can get a nice discount when it resumes.
Sorry, I didn’t mean to call that out. My fault.
I can’t imagine the stress you must be under, especially when the market is upside down, so no worries. Appreciate your help.
$NYSE, new relative low:
http://scharts.co/1hESZd3
$NYMO, suspiciously no new low
http://tinyurl.com/mc7afwq
Was last night’s video messed up? He starts talking about charts but I didn’t see any charts.
Yeah I got that too, the GTW recording wouldn’t play either. Said I didn’t have the right codec.
Hi Jeff – Not sure if this is happening to other AHWOA members but the recording isnt working for me. It gets stuck at 4 minutes 2 seconds and wont play beyond that. Thanks for any help you can provide!
Did you try the vimeo version?
For me the Vimeo played audio, but video was frozen, tried all different browsers. I wouldn’t worry about it, though, usually works fine, probably a one time thing or my computer.
Hi Jeff,
Are you in TWTR still? At this pace it seems to break lows of last year.. whats your thoughts
Yep, I bought a starter position that I will add to. Same with SINA. With long term positions, I build. Sorry if this was unclear at all. I have mentioned it a few times.
Trying a TSLA long.
Weekly 205’s @ 1.60
bought TWTR and TZA yolo’s shortly after the open. r/r just looks too good here
(TWTR calls and TZA puts)
I bought some TZA yolo 17 puts shortly after the open for .07.
same entry for me.
Also added $YELP yolo 65’s
YOLO trades seem to fit the trading scenario here much better than the ‘long term’ front month options. Too many opportunities to get stopped out in this environment in holding options longer than a few days (or hours).
Hi OA, I know YGE is your long term hold, so I assume you not take stop loss but buy down if you want. Right ? Thanks.