More Buys

I went long RSOL and picked up ROVI Feb calls.

More later,

OA

I picked up shares of CUDA, as discussed last night on After Hours with Option Addict.

I also picked up Feb Calls in AMBA, as I love the location here.

More later,

OA

I added more exposure to China today via shares of MY. Here’s where I stand, whilst everyone runs away.

My core option positions:

YGE, FSLR, DECK, ANGI, CZR, KBH, GRPN, TRLA

My core stock positions:

MY, YGE, GRPN, FSLR, CAMT, CIMT, DANG, CAMT, MJNA, PHOT, URRE, RENN, XIN, GLUU, GURE, REE, AMRS

For the good folks of After Hours with Option Addict, this upcoming week we’ll be starting our next CRASH course. This time, we’ll be studying Technical Trading Tactics. I will be starting our classes this week a few minutes early to answer any questions on the market, and will also actively blog watchlist ideas so that we can place our focus on getting through each topic in its entirety.

Here is the schedule we’ll be following this week:

• Monday: Volume by Price
• Tuesday: Sentiment Indicators
• Wednesday: Trading Breakouts
• Thursday: Patterns of Price
• Friday: Creating a “Trigger” and Trading System

As always, these sessions will be recorded and archived. If you’ve been contemplating joining our ranks, by participating this week, you’ll know all the secrets we use to locate the explosive opportunities we find each week.

See you After Hours,

OA

Apparently this post did not publish at the time it was written. The good folks at Amish Internet Inc failed me this afternoon, as I completely lost connectivity to the outside world with an hour left of Market Massacre Friday. I apologize for the late cancellation of After Hours with Option Addict. Next week we’ll start our week long technical crash course which I will outline this weekend. You might opt to go to cash if you’re thinking that volatility continues into next week.

Here is the post I wrote earlier this afternoon, which is of zero value at this point…

I booked CRM this morning and sold TSL to reduce exposure to the group that is burning a fat ass hole in my pocket today.

The way this all works out is that we own stuff that will respond better than most to a snapback rally. After that snapback rally, we reevaluate the next round of candidates to trade given the markets risk appetite and the general rotation of stocks.

While I hate these days as much as the next, I am always smiling a few days down the road.

Capitulate if you must, but I refuse.

OA

Every so often, it becomes important to revisit the topic of risk and leverage. Reading some comments and e-mails I have received today, I feel it should be addressed again.

Trading options shouldn’t be the equivalent of taking “a last minute shot at the end zone” with your trading account. There are no “sure things” in trading, and despite the best entry point, the best signal, or the best endorsement, you can lose. Don’t bet as if you’re a lock for the win. If you do, days like today will reset your expectations.

While I might stick to conservative risk metrics in our approach, it is for a reason. My goal with you guys is capital preservation first, gains second. Should you choose to call an audible at the line, remember the market is Richard Sherman-like and will bust your ass the first time you roll the dice.

To keep running with the sports references here, in any sport you have to learn the fundamentals. You study them, learn them, execute them, even live and die by them. Once you are unconsciously competent in the fundamentals, you’ll know enough to learn when to improvise. Until then, keep drilling down the fundamentals.

In regards to risk, I bougth ECTE this morning and DECK Feb calls here. I like these match-ups.

OA