For the sake of boredom, it was suggested that my entry into $XBI yesterday be highlighted and discussed. I enjoy these discussions, particularly in the open public.
For a similar chart pattern, take a look at the action in $MBLY today and compare it against my entry back on 12/13.
Trading these patterns to the long side is tricky to time, particularly in short dated options.
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Gotta have patience
Patience for what? You have to follow a comment like that with what you are doing that works better.
that’s really not his thing
Holy fok. Was trying to support ur trade.
Yeh, $xbi fell relatively hard day after you put the trade on but there’s still time for it to turn. No point to ferry about it just yet.
My goodness.
I’m paying it with $labu. And I’m holding for now.
Gotta have faith is more apropos
Ok. That’s another way to put it. Touche
You bought the pause in the middle, but it meandered down to the lower end of the range. If it breaks here, then you can re-evaluate, but you risked 2% downside to 6% (levered) upside – I miss anything?
oh – and you still have ~15 trading days….
OA did you end up selling out of this? Meaning are you cutting your lose or are you holding and continuing to anticipate a move up?
No, why would I sell?
Guess I didnt really catch the tone of the “patience for what” comment above…..thought that was you throwing in the towel on this position. I get your point now though….
????
The post is about evaluating the entry. The first comment was to have patience. Patience for a better entry? Patience for the trade to work?
I thought you wanted to evaluate as well? Have at it. Of course I didn’t sell…you wanted to talk entry.
My question on the entry was about $ATI, I wasnt specific on that, that is my fault, so apologies there…..guess thats why I am way off on this, I get the point of your post here.
I wanted to talk about the signals you were looking for to enter $ATI.
Fuck. My bad.
It’s an earnings trade. Looking to buy lower.
I have been watching it, and entered earlier today.
I am in for Feb17 calls
I’m waiting for $15 and will take March.
I was trying to evaluate the entry i took, based on your opinion on entry.
He likes those moves to the middle
Got $LN calls.
What do you think of the spot for $PIO? Looks like a better entry than $PHO here, but there’s a thick block of volume about 10% lower in each name, and I’m wondering if I’d be better off waiting for that (obviously I’d be better off waiting for that – assuming it comes).
Thanks for sharing your entry so openly.
It was lovingly and openly. I shared it yesterday right after the purchase.
I waited til today to buy ITM Feb calls (to hit bottom trendline) but this since the range is so small now don’t see why its an issue whether one bought today or yesterday.
The higher low is the precursor to the breakout. The lower low gets a small pop, but you don’t get out of the range from that. The lower low is too early.
I don’t really want to pick at you.
You do make entries like that quite a bit. Most times I choose to wait for Lower or buy half with the intention of adding more. But there’s the problem of missing out because you do get quite a few of these right and next thing I know I missed out on a 300-400%’er.
I’m waiting for a nice drop in Jan-Feb. Until then, surgical strikes like the EXK trade are necessary.
May I ask what are your shopping list? Thank you.
Jeff, would you not wait for XBI to fill the gap first? I know its old school, but just wanted to know?
If I did….then this would all take another 2-3 weeks at minimum…just to get out of the range.
Anyone want to help me brainstorm… I have an every so often tradition, on good years, to throw some YOLO money at the contrarian-est idea I can think of on the last day of the trading year. I buy some way OTM leaps and put it to bed for the year and see if I get lucky betting against my instincts. If you want to throw your hat in the ring, I haven’t picked my stock yet.
Something solar? TAN looks like shit, even worse than 3 months ago. I like JKS, FSLR and CSIQ from the charts I briefly scanned. Other idea would be FEYE, EMES, and WETF
Bet against AMZN. Most overowned stock in the market.
Good choices both. I was thinking SPWR in solar and solar generally as a candidate. My main idea was the Mall though. That was the idea I’ve had that has generated the most shaking heads this year. I was thinking ANF. But short AMZN is the ultimate way to get long the mall. So that may be the one. Other candidates considered – TWTR, HTZ, FIT, GNC.
Quick fast move looks like is the only action for the day – heading out to do other stuff more fun than watch graphs….happy New Year!
BIDU – busted my weeklies,but still liking it
My initial reaction on your trade was, why now… seemed premature. I also know 9 out of 10 times your entry is better than mine. The tall candle on the 23rd seemed like the early warning for the pop so thought that may be what you were seeing.
I decided to wait to see if it went to the 200 day avg support. Which it has now so I bought it today. Slightly better place to manage risk. Minor price improvement over all for a stock trade.