Has anybody seen a snail lately? Or do you remember how the snail move? Slowly and ever s l o w l y . . .
I figure I’ll try this method today. Here is how it works. You buy s-l-o-w-l-y than your normal “Get me fill already! More, more, and more!”
Patiently, I waited for DDD to retrace after the morning rush hour run to the high of $29.76; and retraced it did. Then I started to nibble my way back in at the low $29ish. For the lord of me; I don’t understand why price will go up when the secondary offering is for $27. But this academic debate is not something I want to dwell into since price action is the King and I need to follow my King.
Well, I’m all for taking along the siblings when I take my date out; it goes to build good relationship with your significant one. So, without question, I nibbled on SSYS as well.
Next, since I pass a lot of gas, I love to own some gas. So I nibbled on CHK. CHK chart looks exactly like what a snail will move- ever s l o w l y upward.
When it comes to my cholesterol level, I’ve no choice but to be optimistic about AMRN which should be getting a response from FDA soon regarding approval. Call me naive, but I do want AMRN to succeed and its magical fish oil to be as valid as “an apple a day to keep the doctor away”. Since I value my organ dearly, especially my liver, I’m not very keen at all to take those statin family of drug. For the good of health, I nibbled on AMRN.
NUAN was my first baby-boomer. I bought it when it was still under Scansoft name and under $5. However, I sold too soon back then. Now that the Fly bought some, it brought back old memory and the chart looks like a breakout. Got to buy some for old memory sake.
Since I bought USU (see my other post); I started looking at CCJ and DNN. CCJ looks good for a breakout play. And DNN looks good for a bottom fishing since it is basing at $1.41 level. Needless to say, I bought starter position for both.
SZYM looked like it is holding strong at current level ($12.30) for the last 4 days, so I bought back a starter position to see if there is a breakout next week. Will buy more if it does.
So far, the field looks green and this snail is looking good and happy as a clam can be. S l o w l y it moves on and on.
Currently 40% 55% invested and 60% 45% cash.
Good Hunting!
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@zen – Interesting outlook. Options completely changed my outlook on trading. I always looked at risk, probabilities, volatility, and price distributions, but now I’ve got time, premium decay and defined profit working in my favor. Now I just sit, take profits, and collect money.
Hello Yogi, I’m aware the validity of in using option strategies to make consistent money and I even bought a whole set of DVD on this subject matter…. unfortunately, when the video started to mutter the Greek words like Theta, Beta, I started falling asleep!
Perhaps one day when I’ve a hard time falling asleep, I will try watching it again.
Nevertheless, I’m glad to hear you are a good example of the validity of option trading.
Meanwhile, buying call or put is simple enough for me to follow.
Thanks for your encouragement in option trading.
Your mostly a option writer, right Yogi?
Yes. I’m still a beginner. Like they say, friends don’t let friends buy options.
I needed to “touch the stove” a couple of times to see that it was really hot (it was). Winning was less than 50/50. Now I’m basically writing covered calls, learning to roll positions, adjust positions, take profits, get through expiration week, etc. I’ll be adding strategies as soon as I change brokers. I’m with a stone age firm that doesn’t allow most strategies.
Reduced exposure by closing out the following positions:
CCJ
CHK
DNN
NUAN
SZYM
Together, the closing of the above was a breakeven since I merely gave back gain incurred last Friday.
Still holding
DDD
SSYS
USU
My other 25% LT holding
Forgot:
Still holding AMRN
Trading Journal Update:
Bought back DNN plus some
Still looking to buy back CCJ.
Bought LMLP (possible LT hold)