SIRI Monthly Thread October 2015 (with NFL Chat)

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10-16-2015, 06:15 PM
midas360

So I was right then? I mean you were the one asking the original question. :) I was pointing out facts. What was it about my post that was wrong? Sorry if I made a mistake?

Quote:

Originally Posted by siriusly_invested

Wrong answer to the scenario presented. The chart in question is the daily High/Low chart which, based on the rules should have started a column of "Os" at 3.99 down to and including 3.84 on the price legend, indicating the range and direction of price movement during the day. Rule states that if the price changes three or more blocks in the opposite direction then the symbol in this case changes from an "X" to an "O", and begins the downward column to the right side of the column of X's............ It's hard to explain to anyone who has not studied P&F charting, but if not mistaken, that's the way it goes....... I hope Denco can either agree with me or show me where I'm wrong.

Quote:

Originally Posted by RECAP OF SCENARIO

SIRI opened at $3.97 today but closed at the same price of yesterday's close of $3.96. No change in price from yesterday's and today's close.

Quote:

Originally Posted by siriusly_invested

Denco, can you help me see the light in this scenario. As I look at today's High/Low P&F where I see the high reached 4.0 and the low 3.95, why then did not the chart represent the 3+ point reversal which should have resulted in a shift to the right with a column of Ohs from 3.98 down to and including 3.95? For some reason, I'm not seeing that, as illustrated below:
10-16-2015, 06:28 PM
siriusly_invested

Quote:

Originally Posted by siriusly_invested

Aw Geez Denco, and just when I thought I had it figured it out, you had to say. "just a guess". Now I'm really confused. I have the Dorsey book in hand, so I think I'll consider your explanation and see if I can confirm what you said by reviewing if or what Dorsey has to say in this case....... Thanks.

Denco, I don't have a clear understanding yet, but here is a starting point of where I hope to find the answers to our High/Low discussion. I've not looked yet to see if this is what you were trying to say; take a look and see if it makes sense to you:

High-Low Method

There are two pricing methods available: the High-Low Method and the Close Method. Each method only uses one price point. Obviously, the Close Method uses the closing price only. The High-Low Method uses the high or the low, but not both. Sometimes both are ignored. Here are the rules for the High-Low method.
When the current column is an X-Column (rising):
◾ Use the high when another X can be drawn and then ignore the low.
◾ Use the low when another X cannot be drawn and the low triggers a 3-box reversal.
◾ Ignore both when the high does not warrant another X and the low does not trigger a 3-box reversal.

When the current column is an O-Column (falling):
◾ Use the low when another O can be drawn and then ignore the high.
◾ Use the high when another O cannot be drawn and the high triggers a 3-box reversal.
◾ Ignore both when the low does not warrant another O and the high does not trigger a 3-box reversal.

Now I must admit that once I think I understand all this, I'm not too sure I'll know what to do with it.
10-16-2015, 06:48 PM
dm_4

Quote:

Originally Posted by midas360

So I was right then? I mean you were the one asking the original question. :) I was pointing out facts. What was it about my post that was wrong? Sorry if I made a mistake?

Hey dough boy....zip it, im trying to learn something from these guys. They don't have time for your whiny little ass right now.
10-16-2015, 06:52 PM
dm_4

spot on!

https://www.youtube.com/watch?v=n0Qb9qSpb0A
10-16-2015, 07:02 PM
midas360

Today was kind of disappointing... nothing like running into that $4 wall and SELLING OFF BIG TIME. Ugh! Take your money and run. EASY PEASY!

GOING TO RELOAD NEXT WEEK!!!!! YEEHAW!

EDIT: I was thinking about doubling my bet going into earnings. Maybe 70K shares. Who knows... lot to think about before Monday.

EDIT 2: Someone emailed me saying "dm_4" went to rehab last week. They said he posted it in the forum. Is that true? I hope he's doing well. If any of you talk to him let him know. Thanks!

DM is a big fat pudge douchebag.
10-16-2015, 07:14 PM
dm_4

Pretty cool...maybe a little time consuming but not a bad little hobby.

https://www.youtube.com/watch?v=5cnruhJbRnU
10-16-2015, 08:45 PM
denco1

Quote:

Originally Posted by siriusly_invested

Denco, I don't have a clear understanding yet, but here is a starting point of where I hope to find the answers to our High/Low discussion. I've not looked yet to see if this is what you were trying to say; take a look and see if it makes sense to you:

High-Low Method

There are two pricing methods available: the High-Low Method and the Close Method. Each method only uses one price point. Obviously, the Close Method uses the closing price only. The High-Low Method uses the high or the low, but not both. Sometimes both are ignored. Here are the rules for the High-Low method.
When the current column is an X-Column (rising):
◾ Use the high when another X can be drawn and then ignore the low.
◾ Use the low when another X cannot be drawn and the low triggers a 3-box reversal.
◾ Ignore both when the high does not warrant another X and the low does not trigger a 3-box reversal. When the current column is an O-Column (falling):
◾ Use the low when another O can be drawn and then ignore the high.
◾ Use the high when another O cannot be drawn and the high triggers a 3-box reversal.
◾ Ignore both when the low does not warrant another O and the high does not trigger a 3-box reversal.

Now I must admit that once I think I understand all this, I'm not too sure I'll know what to do with it.

Yes, BINGO Sly. This is what I was trying to say in many more words.....have a great weekend ALL!!

EDIT: Thanks for the confirmation SLY:thumbsup:
10-16-2015, 08:54 PM
dm_4

This is the real way to settle things....man i love the old country and their customs.

https://www.youtube.com/watch?v=Rda10Q6MJSk
10-16-2015, 11:39 PM
njbones1

Now I get it
10-17-2015, 12:50 AM
dm_4

Well at least he didn't get arrested SN

Johnny Manziel pulled over after domestic argument, alcohol involved

http://sports.yahoo.com/blogs/nfl-sh...224437209.html
10-17-2015, 08:44 AM
siriusly_invested

Quote:

Originally Posted by midas360

So I was right then? I mean you were the one asking the original question. :) I was pointing out facts. What was it about my post that was wrong? Sorry if I made a mistake?

Sorry, my comment was not meant to be offensive; I was trying to say the facts as you cited had no bearing on the High/Low P&F chart which does not necessarily take the closing price as a data point nor does it consider the comparison per se, of price from one day to the next. My question was in search of clarification or understanding of what was displayed on the High/Low P&F chart. :confused:
10-17-2015, 09:48 AM
user34615145

Quote:

Originally Posted by user34615145

I'm gonna make an earnings trade on NFLX. They report Q3 after the close on Wed. 10/16. $.08/share on $1.75 billion in rev's seems to be the consensus.

Stock is currently trading around $114/share with a P/E of 256 - so it's priced for perfection and has a history of being pretty volatile on earnings hit/misses.

I'm gonna try and take advantage of that volatility and sell the Oct16 $100 PUT for $2.35-$2.50, meaning I'll get PUT (have to buy) the stock at $100 if they miss and the stock pulls back to below $100. If they do well, or at least don't do so poorly that the stock pulls back to under $100, then I get to keep the premium.

If I do get put the stock, my plan is to turn around and sell covered calls against the holdings in order to at least get back to even.

So fasten your seatbelts kids cause daddy needs $$$ for a new six iron!

Quote:

Originally Posted by waldo29

Nice recovery during the CC, you may not get put the stock.

Quote:

Originally Posted by midas360

Oh you are going to get put the stock. No question about that :)

Well, FYI I didn't buy the puts back yesterday even though I could have a few times for a fraction of what I got paid for them. I preferred to leave them sit and collect the full premium and see what happened - figuring I'd be just as happy as not if I got put the stock and that's what happened. Stock closed I think at 98.99 and I bot them at $100, but collected $2.35 for the premium so my cost basis is $97.65. On monday, if the stock is showing any stability, I'll sell the nov 20 or 27 $100 covered calls agains the position and collect another $5 or $6 per share. Maybe a little more if it shows strength...a little less if it's kinda weak. Anyhow, that's the plan and I'm sticking to it.
10-17-2015, 09:55 AM
user34615145

Jhonny Manziel In Trouble AGAIN!

I knew that boy wouldn't be able to stay out of trouble.

http://sports.yahoo.com/blogs/nfl-sh...224437209.html
10-17-2015, 10:05 AM
midas360

Good Morning

Hey NJ, Raptor, User, Sly, Waldo, Stag, and Denco! Hope you guys have a super duper weekend!
10-17-2015, 10:47 AM
dm_4

Quote:

Originally Posted by midas360

good morning

hey nj, raptor, user, sly, waldo, stag, and denco! Hope you guys have a super duper weekend!

gay
10-17-2015, 10:52 AM
dm_4

Russian Hackers of Dow Jones Said to Have Sought Trading Tips

https://finance.yahoo.com/news/russi...182005421.html
10-17-2015, 11:01 AM
siriusly_invested

During the past week or two we have been reminded of P&F charting as one valuable resource in our Technical Analysis tool kit. For benefit of those not familiar with this charting method I offer what I found as a quick, simple, "scratch the surface" uTube tortial on the subject. As witnessed in my blabbering exchange with Denco in search of a refresher on the subject, I am reminded of the breadth of wisdom presented in this method, and the ease of which one can lose touch if away from it for any length of time.

The following link not only provides a decent high-level discussion, it also offers a referral to a plathora of related education found at stockcharts.com. I think if you are intested in assistance to identify entry and exit signals, support and resistance prices, and calculated target prices, this is a good piece of available knowledge.

https://www.youtube.com/watch?v=1UUlpi-GgnI
10-17-2015, 11:24 AM
midas360

+1

Quote:

Originally Posted by siriusly_invested

During the past week or two we have been reminded of P&F charting as one valuable resource in our Technical Analysis tool kit. For benefit of those not familiar with this charting method I offer what I found as a quick, simple, "scratch the surface" uTube tortial on the subject. As witnessed in my blabbering exchange with Denco in search of a refresher on the subject, I am reminded of the breadth of wisdom presented in this method, and the ease of which one can lose touch if away from it for any length of time.

The following link not only provides a decent high-level discussion, it also offers a referral to a plathora of related education found at stockcharts.com. I think if you are intested in assistance to identify entry and exit signals, support and resistance prices, and calculated target prices, this is a good piece of available knowledge.

https://www.youtube.com/watch?v=1UUlpi-GgnI
10-17-2015, 11:27 AM
dm_4

Quote:

Originally Posted by siriusly_invested

During the past week or two we have been reminded of P&F charting as one valuable resource in our Technical Analysis tool kit. For benefit of those not familiar with this charting method I offer what I found as a quick, simple, "scratch the surface" uTube tortial on the subject. As witnessed in my blabbering exchange with Denco in search of a refresher on the subject, I am reminded of the breadth of wisdom presented in this method, and the ease of which one can lose touch if away from it for any length of time.

The following link not only provides a decent high-level discussion, it also offers a referral to a plathora of related education found at stockcharts.com. I think if you are intested in assistance to identify entry and exit signals, support and resistance prices, and calculated target prices, this is a good piece of available knowledge.

https://www.youtube.com/watch?v=1UUlpi-GgnI

Thanks SI....great video even a dummy like me could understand. Learned a lot from that. I think i will try to incorporate that into my trading. I will def be paying more attention to you and denco when you are discussing pf to pick up a little more knowledge in the future. :thumbsup:
10-17-2015, 11:35 AM
midas360

But Remember...

"There are some drawbacks as well. For instance, volume is not considered, and P&F charts are not good for identifying whether a stock is being accumulated (bought) or distributed (sold)."

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