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  1. stang3O2 is offline
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    Joined: Nov 2008 Location: Indy/LA/chi/ny Posts: 422
    08-16-2009, 10:37 PM #751
    Dr. Dave- You are killin' it on these T/A charts! We all appreciate efforts and wisdom here!

  2. bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    08-16-2009, 10:55 PM #752
    Quote Originally Posted by Dr. Dave View Post
    YEah, I have 2 accounts cleared for options, I remember one of them explicitly listing the levels and I had to choose one. The other, scottrade, I think I just listed the ways I wanted to trade. I'm not sure if the levels are standardized, but I found this online...

    I just buy puts and calls, which on this is level II ... I had tried it longer term before, with an expert, but when things go wrong, they go really wrong, so I do it on my own now, but very short term. You'll see that for something short term, its not too complicated.. if you want, I'll post what I think my next trade is, and if you think I have the direction right, you can trade a single contract (like something running $150-350 a contract, and we'll try to target the the stop loss to about $50-70). Not sure what the prices are, but we could play LUV, ie. if it looks like it will close above the flag, buy a call, if it looks like it will close below, buy a put. Let the flag lines be the stop loss targets, and let it ride overnight. LUV is pretty cheap though, so the contracts may be a little cheaper. I'll check on it later. I'll post in that other stuff I had ready for the options school, then I can go over the strategies I've been playing thus far.

    If its shorterm, like 1-3 days, we don't have to really go thru all the fancy calculators and such, provided we trade the september contracts.
    sounds good..let me know when the next options play is. and ill pop my cherry with 1 contract..

  3. bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    08-16-2009, 11:02 PM #753
    oops...didnt read the rest of the paragragh...thats how anxious i am

  4. billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896
    08-16-2009, 11:08 PM #754

    Umbrellas and Descending Triangle and more

    The past 4 days have been Umbrellas. That means that there could be a reversal due to indecision by buyers. It means that sellers were winning out during the day, but the buyers managed to push the price back to the opening price at the end of the day.

    After long declines this can be a bullish indicator, but it is an indicator that has to be confirmed with a turn either in a bullish or bearish reversal. The accuracy is rated at medium for dependability.

    I mixed my words up on the chart. I meant to say -50 or less...Northward!

    Last edited by billhart22; 08-16-2009 at 11:37 PM.

  5. bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    08-16-2009, 11:12 PM #755
    great annotation bill

  6. bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    08-16-2009, 11:13 PM #756
    btw ...i been running bad in poker and running good in stocks..... cant focus on 2 things tho.... i have a 1mill gaurentee thursday at foxwoods.. need to be ready for that one

  7. billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896
    08-16-2009, 11:20 PM #757
    Thanks Bass,

    I was just trying out that annotation software at

    It is really nice and is only $14.00. I am running the 30 day free trial, but I am going to buy it.

    You can do all kinds of stuff with it.

    Tournament time on Tuesday. Well I wish you the best of luck! Win, buddy!

    I sound like I am from the south with that laggin indicator. I just misspelled it and it isn't worth correctin.
    Last edited by billhart22; 08-16-2009 at 11:23 PM.

  8. dread is offline
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    Joined: Jan 2009 Location: Chicago Posts: 454
    08-16-2009, 11:21 PM #758

    One thing to watch this week

    Eventually, investors will need to see rising sales in order to become confident about the economy's ability to show sustained growth. Consumer spending accounts for more than two-thirds of the nation's economic activity.

    "We'll get a very good range of what retail sales actually look like" this week, said Jamie Cox, managing partner at Harris Financial Group in Richmond, Va. Cox noted that retailers from across the pricing and product spectrum are reporting results.

    Off-price retailer TJX Cos. and the high-end Saks Inc. report results Tuesday, while apparel retailer Gap Inc. provides its earnings data on Thursday. Home improvement retailers Lowe's Cos. and Home Depot Inc. also release results this week, as do Target Corp., BJ's Wholesale Club and Barnes & Noble Inc.

    Stock gains were muted after the Commerce Department said Thursday that retail sales fell 0.1 percent in July, significantly worse than the 0.7 percent increase economists expected. The news was bad again Friday, when a new reading on consumer sentiment was much lower than expected. Major indexes tumbled about 1 percent that day.

    Good luck out there this week people!!!

  9. bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    08-16-2009, 11:44 PM #759
    they can fix that by another consumer driven stimulus. i mean why not? it would help investors no?

  10. Dr. Dave is offline
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    Joined: Apr 2009 Location: SD Posts: 1,885
    08-17-2009, 12:00 AM #760


    Overall -

    First compare to market thus far... toys a little behind the SP500 - but, many of the leaders in the SP500 were the companies that had direct stimulus packages... ie. unregulated tarp funds to the banks, etc... so this isn't suprising, expecially since toys go with consumer sentiment, and its the average joe who's losing their jobs that buy toys...

    But - (take into account that asian markets are dumping pretty big right now and SP500 futures are dropping at the moment)...

    It appears that there may be a chance for the toy index to pop above resistance tomorrow - if it could close the week out up, while the rest of the market craps (if the market craps) that would be bullish for toy stocks... perhaps on the hopes of toy sales later in the year...

    On the flipside, if it dumps... perhaps I'd wait on a position.. .or compare how HAS does to the toy index... ie. if the other toys are out of favor, and the index drops, but HAS can bust that $29 level in the next posts, its a go TA wise.