Ladies and Gents,
This week in After Hours with Option Addict, we’ll be conducting a CRASH COURSE in Market Profile hosted by Raul. I’ve been talking up this idea quite a bit for the last few months, as I think this is too powerful of a tool for you to avoid. He has accepted the challenge and will be using the After Hours with Option Addict platform this week to give 5 different presentations this week to help you learn the concepts of this powerful form of market analysis.
Market Profile was first introduced by Peter Steidlmayer back in the mid-80’s. This form of analysis will help you graphically depict the acceptance or rejection of price over time. I don’t read many trading blogs out there, but I’ve been a long time reader of Raul’s work. He provides an objective analysis of the market profile, helping me to see an organization of price, time, and volume. He also offers intuitive scenarios to what the market is likely to do at that point in time. Several years ago when I was actively trading futures, I thrived off this analysis and I believe that even a novice understanding of this will only help you see the day a littler clearer, and will help you develop a broader intuition of price development and direction in the markets.
Members of After Hours with Option Addict, please welcome Raul to the mic next week. For anyone interested in this topic, consider joining ranks, even just to test drive for a month. These sessions will be recorded and indefinitely archived to use at your leisure. In preparation for this event, check out Raul’s blog and go back a few weeks, looking at the terminology, charts, and analysis he uses to discuss the markets.
Please post any questions you have. Thank you.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
Awesome. Looking forward to it.
Thanks Raul for taking the challenge.
You guys are going to love what I have in store for the week. I look forward to talking live with the AHWOA crew.
Raul, I’m amped!
Very Good..
😉
awesome
OA, if I may ask, what drove you away from actively trading futures? Is it just too difficult to beat the machines in this arena?
One day the machines will make all instruments untradable. I’m just trying to scoop up as much cash as possible until that day. Like Elon Musk I too fear a terminator-like scenario in 20-30 years.
We knew in early 2012 that volatility would be sparse. You want to trade futures when the ranges are wide, you want to trade stocks when the market grinds.
When it gets volatile, I get back into it.
Oh goody , this will make for a much less congested chat room . Maybe we can add two or three more live mics….yeah , five or six people talking @ the same time and 30+ people typing “HI OA ” .
BTW , this week’s o/u on ” is Jeff live , I can’t hear him ” is 29 .
Are you taking your meds?
And one more ; wouldn’t it have been much more appealing to call this “an elite course ” or “all you need to know course ” or ” must have tutorial course “…….no not tennis shoe
Jeffy……..he has to use the word CRASH …good grief ! not lol
Lay off that crack pipe dude
He sounds so far gone he wouldn’t even know what a crack pipe is.
Ban mr little
I look forward to heckling the pool boy.
Some rules to live by – http://joefahmy.com/2014/06/23/jesse-livermores-trading-rules-written-1940/
#6, 12, 14 and 17 stand out to me
I didn’t get a chance to comment on Fly’s blog, but Geoff am I diversified? 🙂
1. TWTR weekly 45s
2. YELP weekly 72s
3. GOOGL weekly 590s
4. WDAY Aug5 90s
5. X Sept 35s
#YOLO4LYFE
Loved his response to Helicopter Ben
lulu has a clear volume profile down to 25
what do you see here?
SELL IT ALL NOW RIGHT AWAY ON OPEN
Gonna be pretty friggin sweet, I can’t wait to get edumucation on, courtesy of Raul.
Thanks OA and Raul3 for putting this together.
The iBC crew with all the different areas of expertise put together a level of winship that can’t even be approached from anywhere else.
Lots of these takeovers have been at 25-30% over current values, FDO, MNST, HSH(100% lol). That’s probably what will bring more suckers in.
Jeff- i didn’t see an alert with X…does this mean you took delivery?
Yep, took the stock. Now my third largest position.
That X has been ridiculous. That and KING(first time) are the two positions I didn’t get a chance to take. Oy!
and 5% more….geez
Normally I love buying on Mondays after raising cash on Friday. Don’t like paying for time decay when market is closed
For some reason I don’t feel like buying, even though longs in LJPC,ZU,N and adding to LULU look like great trades.
What’s wrong with me?! Why am I behaving irrationally today?
fly’s description of you was great. lol
I managed to man up and put some orders in.
Yolo’d the ZU.
Picked up Sep CELG 95s on the breakout and some Sep NMBL 30s Haev a few other orders in, but I don’t think they are going to hit my price points for the day
hope this thing will pull back for an entry. or explode like GILD did. i have missed the biotech and want in.
hesitation – not sure if we are going to get a pullback on CELG as there is no price history above 90 – I was watching for a strong move above 91 and got it this morning.
OA, what is your profit taking target SUNE?
24, 28,,,. Thanks !
$35.
Jeff, are Sept 40’s on ZU too high for a strike price?
Nah, should be fine
Thnx
I am thinking Sept 37 on ZU (high OI there)- what are your thoughts OA
Fine with me
DDD is quiet today – I didn’t pick up any last week, but in today’s tape, this is looking attractive to me
Bought Aug 29 DDD 50s on that dip
I added the Aug4 50’s on the same dip – hoping to see it resolve more quickly!
Hi OA,
Thinking of getting into LULU .. looks like cup shared … sep 42.5 good idea ?
Didn’t you just get out?
Not really .. reduced to half ..
By the way, Forgot to thank you for GOOG
in terms of geometry, i’ve never seen a stock (X) grind with this high of a degree angle.
It has been the gift that keeps on giving, even after that 20% after hours surge 4 weeks ago. Seems almost too good to be true, but I still have a block of Oct calls.
It is a thing of beauty
This is why I’ve been scouting this chart so long.
thoughts on LO?
it’s got the “look” and i also have the JC SQUEEZE flashing red.
this is an odd looking chart, so i decided to go their website. looks like they are getting bought out.
convinced FEYE is actually an inverse ETF
NMBL caught a bid – woot
Seasonal low periods in Gold, energy and healthcare…
Have to wait for October for others.
seasonal data confirms what charts are saying.
JNUG,XLE,BIB
OA was all over the biotech rotation. Energy looks to have a handful of wedges developing.
JNUG looks decent.
Thoughts on TEVA? Looks a little forgotten today…
sold ISRG today. added to Z and TRLA. have SPLK and bot FEYE. holding WUBA ZU and UA
Can someone tell me what time the AHWOA chat starts? New to the site
Thanks
4:30 et, boss. I’m going to reply to your messages soon as well.
Thank you sir. Bought some SINA today
Jeff – Are you still holding JRJC or have you let it go already? If yes, what target are you looking for at this point?
My peeps are apparently. Not I.
I booked mine at 6.80 from 4.18 entry, nice 63% stock move. Thanks for putting me on to the trade Jeff. Awesome as always.
SOo, I suppose we can expect slow market action until Wednesday afternoon, unless of course, Israel invades Ukraine to kick out the Russians who aren’t there?
yea strange tape. slow moving equals theta burn. I am lightening up some positiion sizes and slow bleeders like my 3s and 4s and hedging some with rut puts.
Days like this…a lot of stocks move a little. I would read much more into it than that.
frustration talk OA, as none of my ideas worked today, just bled all day. my biggest positions in Z and TRLA at a great location, but did nothing. huge gap and had no Q flyers or bio floaters.
Wait til tomorrow. Tomorrow is normally a much better day than big market up days, at least for me that is.
I actually had a great day today – picked up RAX, NMBL, CELG, ZU and DDD – 3 of those are ripping today with further action likely tomorrow.
A couple WB Sept 22s here.
… and a $ZU Oct 39 limit order just filled now.
Good idea here to own a slug of SWN for a few weeks and wouldn’t be shocked to see TSL trade back to 52 week high
ZU sucking eggs 🙁
not even down 1%
well for a big up day in the market it is.
I bought ZU today
Spotted CRTO and UNXL setups on Friday, with everything rocketting they look good
long some GWPH 94s for YOLO
Bought OXY Sept calls and WFM August 29th calls at the close.
OA was right about CIMT … Up almost 20% since recommending it to me and 10% today!
How do i view todays recorded webinar? When i click on “click here for todays webinar” it loads up the webinar done on friday. Please advice members/OA
Ditto. Very anxious to watch?
I meant ! not ?
Sometimes they take a bit longer to load up… I would start to worry if it isn’t up in an hour from now.
#timestamp
lol… Nevermind it is up!
ANGI was found outside chewing a raw chicken bone, starving to death begging for change. Things were not looking up. No longer wanted by society, she is forced to rummage through trash. I took her out for a trade, bought her a nice cup of soup and some hot cocoa and we reminisced about the days where she danced, performed and did just about everything people wanted, and people still called her a bitch for not doing it sooner. She undoubtedly will still try to steal my wallet when I am not looking, because that is what she tends to do, but I left most of the cash at home safe anyways and she is no longer armed with weaponry as she has already lashed out back at the world and done the bulk of the damage. How much did it cost me? Not much, but at a minimum I shall be rewarded by a improved karma vs the rest of you savages… not to mention a clear conscience.
🙂
lol.
…That is all.
OA, signed up for the TA trial and got the email and don’t really have clear way of logging in? Sent email to support@tradingaddicts, please advise
It asks you to create a user name and password at the point of sale. Did you do this?
anyone trading GMCR?
I am ready to bank some coin today. What looks good out there?
bchu – regarding GTAT – looks like I was wrong about the news already being baked in the price – some serious action over the past few days.
Bought some LULU two days ago when it was beaten down. Decent volume today… looking good!
watch WUBA. retest of the breakout right now.
looks like we may get a fade today
anyone playing earnings for the following Chinese stocks?
LEJU–8/20 BMO
TEDU–8/19 AMC
Jeff: Any concern on two consecutive days of relative weakness in $ZU? Hasn’t been big volume behind it but a bit disconcerting to say the least, no?
my face when my yge options didnt move from yesterday
😐