These real stocks, lol, generally will take a rise and then fall back a bit and then climb. A person wants to catch them on the second rise. Yes, it costs more, but in the long run it will pay off. It will cost a hell of a lot less in the long run.
Just some thoughts....agree or disagree with me...I am open.
ya i may have called it well, but not with conditions or the right explanation. its still a leak in my game.
Good night all...I have to work tomorrow for a while. A handyman only works 4 hours a day, maximum. I don't want to wear myself out..I just want to make money.
I love the comment about 2 years ago by John Kasich (former Congressman) that, "What handyman isn't a convicted criminal?". With that said, I say, "Good Night"! It is time for lights out here in the big house, lol!
Great luck tomorrow for all of us!
gn bill...gl with your trades and have fun at work...i do!!!
Could be an options play... PCLN has a tendency to close earnings gaps...
see the 2007 chart
We'll keep an eye on PCLN sept puts:
current price $220
They may be a go if price breaks the top blue line, but that's a little risky... maybe wait until the second blue line, but have to really be ready, or maybe choose the $130 strike...
I don't like the ATR though, you want that down... I think the price of the options are generally too expensive when it is trending up.
I"m also looking at JPM.
The general market may consolidate sideways, which makes these things much more risky to trade. The JPM ones are half the price though, so its not a biggie if we lose 50%.
I may be too busy at work for a setup this week, we'll see. The way its been going tonight though, all I've done is look at charts.
whoops, that last red arrow on the 2007 chart should be scooted over. I also noted in light blue how this stock will hold in the upper end for a while after earnings, then decline.
Each stock is different, that I can tell you.
Last edited by Dr. Dave; 08-17-2009 at 01:52 AM.
Not sure if posting charts would violate my TOS from another site I use, but futures are tanking and the ES mini (sp500) already took out a key support level. The NQ - nasdaq, is riding the line right now. Both broke thru 3 day Donchian channel bottom lines, that's not good. Not sure if you guys have anything in the general market, but look out tomorrow.
In asia, the SSEC is down 5.79%, and Europe is straight red across the board.
This doesn't really mean anything for the pennies, except for SIRI, since it's listed and a lot of techies that trade baskets of stocks will drop this before they drop AAPL.
While things could mellow out, I usually look to futures to see what the rest of the market will do. If we get monday closes below some of these short term trendlines, we could be getting some form of correction, whether its building some other pattern, like a triangle, new channel, handle or tankage. Some of these futures were kind of locked in trading ranges, and it looks, at least tonight, the resolution may be to the downside.
Of course, by morning everything could change, but its looking bleak at the moment.
I may be juggling early, but
JPMUH sept $40 strike puts on JPM may be ok, will look at the stock price tomorrow, cheaper than PCLN puts.