oops, didnt know you were quoting bill...lol im an ass. dont get fooled by the pics, paradise is being next to you!!
SIRIUS XM SATELLITE RADIO FORUM
oops, didnt know you were quoting bill...lol im an ass. dont get fooled by the pics, paradise is being next to you!!
Bass -
This issue of active trader was at the bookstore as of 2 days ago - if you have a chance, read the article on position sizing/money management, tell me what you think, it's sort of game theory based. I'm thinking of shelling out money for the guy's book, but wanted to see what you thought of it.
This is what the issue looks like...
http://www.activetradermag.com/issue...hp?issueId=573
I'll probably get the book anyway, I'm almost done with the current one I'm reading. The formula's don't seem to be spelled out clearly in the article in the mag.
If you don't get around to it, no worries, but thought you might be interested since you play poker too.
Originally Posted by bassmaster
Ass? Not hardly. You were being thoughtful Bass.
Sure looked like paradise to me.
Julie
im going to grab some grub now, ill stop by B&N and see if they have it.
if you have a chance, go to koat on todays siri daily thread, and check out my chart basing it on ADX. people are going nuts because we havent broken out yet. i just tried explaining there are no clear signals to buy or sell for new money. so why pull your hair out, stocks dont trade on fundamentals, they trade on psychology!!!!!
i also posted on the gold thread, obv im a noob , but i am bearish. have been since the recent high. looks like correction wave 4 to me, so whats left? a wave 5 then downtrend. king of gold is a day trader tho so my posts may be nonsense to him.
no luck at barnes & noble. i head into the city tomorrow, maybe i can find it somewhere.
HAPPY BIRTHDAY MY FRIEND
Hope you had a fantastic day!
Jeff
I already bought gold stocks - it's (been) exit time.
Hell yeah, I think it's time to get out of gold - there was no upside resistance, but like murphy said - look at the gold miners index, ticker GDX - go back to middle of 2007 to current, or look at the heavy weighted stock newmont mining NEM I think... then you'll see....
Regarding siri price - when stocks "hug" the line, they often break thru, we've had a lot of rallys off the line - look at the rallys- it's usually a clear bounce with telling candles, not hugging, then an upswing. It's the smarter timed traders that wait till it hits the line and go all in, when everyone else is scared out of their minds. We'll see what happens, I'm pretty confident that if it nosedives, it's not going to be down to the bottom again, it'll be that time to just break the line and start fresh. Who knows, though really, but just have to be ready. I'm for booking, no worries, then start over, or maybe I'll just book one set on a dive - I have it in regular and IRA.
Back to your question on the other thread regarding options - I just play the upcoming contracts, so that they move. I'll even go out a step or two on strikes. The ones that I do before earnings, I look for lower volatility and some pattern... either forming or bust out, then stay in for a day or so. For the strangles, buy them near EOD, especially if expirations are real close, as there is decay building up. So far the stocks I like are the big techs/solar and an energy stock FSYS. Just look on daily time frame for stocks that have big moves spaced about 3 months apart, then also have strikes a buck apart, and lots of shares traded. When the time comes, I'll let you know. It's kind of a gamble, but if you do the strangles and play them all, should be profitable or breakeven.. I missed out on some heavy gains as did not know AMZN was reporting due to work or being out of town, then only taking one side of FSLR... those were both biggies. I tried some other SP500 stocks, but the traders mark up the price too much as they know earnings are around the corner.
I'll try logging in a bit, see what's up. Not arguing with them though, lol. I like this thread because we try to make each other a little dough, not argue about who's right, lol.
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