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Joined: 5/11/2009
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The digital edition has been out for several days now. I got it last Tuesday.
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Joined: 6/15/2008
Posts: 1,356
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http://screencast.com/t/ViOsRgHH
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Joined: 6/15/2008
Posts: 1,356
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wow SINA hit both my upside target as well as the down target, to bad I didn't play the puts this afternoon.
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Joined: 6/15/2008
Posts: 1,356
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NFLX broke the 5min C line at 3PM. Now we're right at my hourly down target at 206.97. (see post yesterday).
the 210 puts have doubled in the last 20minutes.
anyway, that's it for me. hope anyone made some $$ with me on these trades.
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Joined: 3/27/2011
Posts: 56
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Jobs' resignation got me very excited, especially when we AAPL opened with a very nice GAP DOWN. For those that remember, AAPL also gapped downwards only to cover it all up within the day on the day of it's earnings which just happened to be coincidentally the day Jobs took his medical leave (that was some months ago). Here's the picture of what happened on the 25th of august.
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Joined: 3/27/2011
Posts: 56
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If the image doesn't load, here's the direct link.http://img37.imageshack.us/img37/6769/aapl20110825daytrade.png
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Joined: 5/9/2010
Posts: 144
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Hey Guys! How do ya'll feel about IBM to the upside? My belief is. It has the highest projection capability from my watch list. PCLN may tighten up your pockets, too. akspeculations...pthegreat..? Every one? V- Bottom reversals and sharp upside action for a few days:)No?
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Joined: 5/9/2010
Posts: 144
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IBM held that Pivot Point R1 level for multiple bounces and took off at the end for a 44% gain. HMMM.......Lets see how long this bounce will last. I say. If, PCLN breaks above the 50 MA on the daily is a signal for a good shot for a little above the 520 level. Any continuation signals?! I will go for the WINDOW TEST, maybe. Anyway, AAPL had great downside action from the news. Most definitely a double your money day. What a resilient stock. Despite the bad news, AAPL climbed it's way up towards the end... So, since AAPL is affected by GDP growth (Bloomberg). Could it be and indicator, too? Here is a couple things that I have learned. In the last TWO HOURS of the day, the last being greater than the one before, continuous selling and volume is above the 50 sma is a sure bet that there is going to be more downside the next day.
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Joined: 6/15/2008
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QUOTE (Jpetesmith) Hey Guys! How do ya'll feel about IBM to the upside? My belief is. It has the highest projection capability from my watch list.
Great call on IBM there, Jpete. I got a few on the pullback mid-day yesterday.
thx 4 sharing.
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Joined: 5/9/2010
Posts: 144
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Cool! Yeah, pthegreat, thanks for all of your influence. I am trying my best to get into your level of mind frame. I was surprised to see IBM break above 177.67 resistance today. I have been doing so much paper trading. Mr. Michael Thompson got me motivated (Pivot Points and FIBs)to watch what's going on with Pivot Points during these volatile times in the market. I have been doing some more research, and I found some very supportive information on Day Trading from Investopedia. I should have paid more attention to the NASDAQ and the 50sma level for resistance to be more wary of what's going on with Technical levels. Looking back over it, there were some very interesting moves today. AAPL was the one I was upset to miss out on. Paper traded a 4.95 contract at the end of day,2:26 (EST), 405 put. I am on the two minute charts. It was a break down after a Sandwich Pattern. Why paper trade that?! Now, I am looking back over it. End of day, it's Bid shows 8.15. It's about a 60% gain after Brokerage Charges. At the moment, I am all over these charts. I am looking forward to see what the FAS is going to do tomorrow. I know it's not to your liking, but it was in a tight trading range until the end of the day hovering below the 20sma for most of the day. Then it sold off in super high volume that last hour. It's a good PUT situation. I stumbled upon it a little to late. I put in a limit order at .35, but then it slid right between my fingers. I don't chase options. It shot up to .65. After charges, It would have been a 75% gain. I believe you know how well those Financials are doing. More bang for the buck to you pthegreat. Thanks:), Joshua Smith
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Joined: 5/9/2010
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pthegreat, I have one for us, and it is in the price range. XOM, Down Side target $71.7. You will easily see why on the Hourly charts. Once, it goes about half way up into the prior days wick. My plan is to buy the reversal signal on the 5 min chart. It has my favorite set up. Two hours of increased volume to the sell side. Also, Friday it found Resistance in heavy volume from the 50 SMA and recent resistance line. It's Candle is basically looks like a Gravestone Doji. I am thinking for sure. It's a double your bang for the buck play.
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Joined: 5/9/2010
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Well, I bought the gap at the open, and I got stopped out. It did reach into that Tail. Although, check out the 50% re-tracement from Friday's high to the ;low of this morning. Triple Bounce from resistance in the 5 min chart. Also, it was a double your money day from that reversal. DOUGH! :), Tomorrow is another day. Let's make money, please!
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Joined: 6/15/2008
Posts: 1,356
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I use this site to check on the available weeklys:
http://www.cboe.com/micro/weeklys/availableweeklys.aspx
couple of new ones added over the past weeks:
CRM
CVX
MCD
NKE
WYNN
Didi anyone catch a little of the NFLX moves past 2 days?
I was lucky enough to catch the breakout of the 85 calls on Thursday 11AM.
http://screencast.com/t/LSm9gpmQ8SwL
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actually those are the new ones over $80, there are more, but $80 is my cutt off.
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Joined: 5/9/2010
Posts: 144
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pthegreat, Thanks for the update . Nice catch w/NFLX! I was busy watching FFIV. Now, there's more bang for the BUCK! NKE and CRM will be new ones for me. GOOD Hustle to you.
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Joined: 11/14/2011
Posts: 4
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Your chart looks incredibly clean. How are the signals (dots) generated ?
I have never tried the weeklies. At what time during the trading day you start trading ?
Thanks and good luck in your trading.
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Joined: 6/15/2008
Posts: 1,356
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QUOTE (imax99) Your chart looks incredibly clean. How are the signals (dots) generated ?I have never tried the weeklies. At what time during the trading day you start trading ?Thanks and good luck in your trading.
Trading the weeklys is Technical Analysis on steroids. I'm very happy to have discovered them some time ago. It goes very well with my personality; not much patience, and want to see results as quickly as possible, good or bad. For trading just long calls and long puts, Thursday and Fridays before the OEX are the best, although I do trade em starting Mondays, but just a little smaller positions. If you like to trade option strategies, straddles, calendars, and what have you.. you might be doing better starting at the beginning of the week. I said "might", cause I dont do those trades, for me its pure long calls and puts. Try your favorite indicator on hourly/15min and 5min charts, on both the stock as well as the option data.
I can't comment on the indicators I use, or rather my interpretation of them, without getting into trademark issues, sorry.
The chart is out of TOS, which as opposed to worden, does supply option data chains.
I have asked Worden numerous times to support option data chains. It was even once promised to me, during one of their public seminars, but alas nothing yet.
SO PLEASE ANYONE TRADING OPTIONS, EMAIL WORDEN AND REQUEST OPTION CHAIN DATA in SF!!!
Hey, I'll even take it on TC2000. better then nothing.
I don't know what your level of expertise is, but trading weeklys can lead to massive gains (or losses, if you're not disciplined with a well thought out money management plan) in short period of time. You can apply the same TA as you use on your weekly and daily stock charts as you can on 5min charts.So why wait around so long? we, as opposed to fund managers, can get in/out positions in a second.
papertrade them for a while, and you'll see you'll like em. :-)
have a good one.
P.
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Joined: 11/14/2011
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Pthegreat:You don't know how much I appreciate your answer. I am a swing trader, usually long on puts or calls and try to exit the trade 30 days prior the option expiration date. So my next question would be... at what point the time decay is exponentially decreasing in the weeklies ?About your indicators don't worry. I don't want you to have any trademark issues. Can you at least suggest me a book to read ?Thanks for your time and advise... !
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Joined: 6/13/2011
Posts: 88
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Hey Pete, wouldn't it be a conflict of interest advertising your web site here in the worden's forum.
I see you changedyour avatar to advertise your web site I assume. That is constructive - but obvious I suppose
I thought third party stock sites were absolutelly prohibited from advertising on those forums.
Just an observation - didn't want you to get into any trade mark issues or conflict of interest issues.
thanks.
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Joined: 6/15/2008
Posts: 1,356
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Imax,
Trading weeklys is the same as trading the last week of any monthly expiration, but now you get to trade it 52 times/year versus only 12 times. Greeks behaviors therefore is the same as if you would trade last week of a monthly expiration.(this week, weekly and monthly OEX is the same) therefore I prefer the last 2 days; Delta gets higher for the OTM/ATM's, and stocks might pinned towards a price level. I don't know of any particular book covering the weeklys specifically.
Bill,
the site is not up as yet, but will not be a commercial site, and won't be competing at all with this site. I'm just a technical geek, my background is data- and telecom. I run several internet servers myself. Just like to make a bit of a presence for myself, and who knows it might grow into something. If worden desires for me to change avatar, then I'll do so.
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Joined: 11/14/2011
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Pthegreat,Thanks again for your reply. I mean can you recomend me any book to learn about the signals you use ?Thanks
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Joined: 6/15/2008
Posts: 1,356
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I like these books a lot:
http://www.amazon.com/DeMark-Day-Trading-Options/dp/0071350594/ref=sr_1_1?ie=UTF8&qid=1321361571&sr=8-1
http://www.amazon.com/Science-Technical-Analysis-Wiley-Finance/dp/0471035483/ref=sr_1_2?ie=UTF8&qid=1321361571&sr=8-2
http://www.amazon.com/New-Market-Timing-Techniques-Innovative/dp/0471149780/ref=sr_1_3?ie=UTF8&qid=1321361571&sr=8-3
http://www.amazon.com/DeMark-Indicators-Bloomberg-Market-Essentials/dp/1576603148/ref=sr_1_5?ie=UTF8&qid=1321361571&sr=8-5
http://www.amazon.com/High-Probability-Trading-Strategies-Tactics/dp/0470181664/ref=sr_1_1?ie=UTF8&qid=1321361862&sr=8-1
http://www.amazon.com/Technical-Analysis-Stock-Trends-ebook/dp/B0024CEZ3K/ref=sr_1_4?ie=UTF8&qid=1321361972&sr=8-4
http://www.amazon.com/Long-Term-Secrets-Short-Term-Trading-ebook/dp/B004GXBZFG/ref=sr_1_2?ie=UTF8&qid=1321362005&sr=8-2
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Joined: 11/14/2011
Posts: 4
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Dear Pthegreat:It is amazing how willing are you to help other people. Thanks so much for the links I will take a look and buy some of those books.Hope that your website is up in the near future. I am looking for it...Thanks again.
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Joined: 6/15/2008
Posts: 1,356
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I had a buy signal on the PCLN 540 calls, and got in at the breakout at $6.21 at 12:15 . Now trading at $13.25
http://screencast.com/t/L2bJ3H4Oh
Again Worden can we please get option chain data in Stockfinder ?????????
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Joined: 6/15/2008
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LNKD now trading weeklys, below my cutoff of $80.00 for watchlist, will keep an eye on it. Spread on options decent, vol still a bit low.
If it breaks above 75, we can see a run into the 80 level. Support around 67.90
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I think I'll make a little exception in LNKD's case. Both the 70 puts (morning) and the 70 calls (afternoon) doubled.
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Joined: 6/15/2008
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SINA 5min brkout at 12:40
http://screencast.com/t/nJC2cWk1R3F9
weekly 92.50 calls from about $0.80 to over $6.00 !!
weekly 95 calls from about $0.10 to over $4.00 !!!
http://screencast.com/t/BbYr1jfL
only played the 92.50 calls.
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Joined: 6/15/2008
Posts: 1,356
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* 62.50 and 65 calls. !! duh
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Joined: 9/4/2010
Posts: 4
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Thanks for your contributions. Are the links to the spreadsheets still active? When I click the link above all I get is a link to join the service. Thanks for any help,
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Joined: 6/15/2008
Posts: 1,356
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QUOTE (fotokemist) Thanks for your contributions. Are the links to the spreadsheets still active? When I click the link above all I get is a link to join the service. Thanks for any help,
I'll upload some new lists later.
thx.
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here it is :
http://www.mediafire.com/?8ie0ca29ercm16u
I take the weeklys, and trim it down to about 25 stocks max, based on volume and price.
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Joined: 9/4/2010
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Thanks. This is very helpful.
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Joined: 6/15/2008
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OXY daily resistance as target http://screencast.com/t/5WClJdPA2 hourly bounced of resistance http://screencast.com/t/e5Wh0lX7I 5min above resistance at 85.39 for a long trade http://screencast.com/t/G8o9CVjYf
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For daytrading options 11AM - 11:30AM is a very important time frame, many times you will see a move ahead of european markets close at 11:30AM. AMZN calls doubled in about 30minutes:
http://screencast.com/t/8UYQssfe
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AMZN broke HOD, 218.37 trgt, and maybe pin today at 220.
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Joined: 6/15/2008
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http://screencast.com/t/ZCGJN9xk01
took most of the profits, another 100% up from earlier post.
http://screencast.com/t/uxxSDuJKUt
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Joined: 5/9/2010
Posts: 144
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pthegreat....... Nice Catch! I like the seasonality play, 30 minutes before the Eruope Close. Just mad I missed it! lol, looks like it will turn into a J-Hook here soon. That would be nice play! Relating the options chart to the screen cast was a NICE comparison of the pricing action in STOCK FINDER. Awesome ADAM and EVE Double bottom to Option pricing action of Supporting double bottom.
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Joined: 6/15/2008
Posts: 1,356
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next two weeks will be full of opportunities for the option daytraders. Looking at Amzn on hourly chart 218.30 is important for me, since it closed above it, my 1st target is 224, which also lines up with 61.8% retrace of 7/12 low - 7/5 high. 225.76 resistance after that.
on 5min chart I have 217.43 as support. breaks that then I'll calculate some down targets for the gap down to thursdays low.
I know Amzn dipped below the 50 on the daily, and earnings on 7/26. so two factors to take into consideration.
Let's post some setups if we see some.
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Joined: 10/7/2004
Posts: 816
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Hi Peter,
I know that you've been concentrating on weekly options for quite a while now - but I was wondering whether you've noticed if the behavior of longer term options have a similar behavior as the weeklies when they (the longer term guys) are a week away from expiration?
Any relative comments would be appreciated.
Regards
Bob Mc
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Registered User
Joined: 6/15/2008
Posts: 1,356
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Hi Bob, I start my selection with stocks that trade weeklys, I don't even look at the rest. But yea the last week of monthly options should behave the same as weeklys. All the biggies these days trade weeklys.goog, aapl, nflx, etc... And as you know next week is a "regular" monthly expiration. In terms of the greeks, this coming week the stocks that trade weeklys, behave similar as any other week, except maybe some more volume on the options, which could translate into some tighter spreads. Pinning action might be a little more "predictable" then on regular weeks. But I have'nt done exact analysis.
Just compilated a watchlist of weeklys trading over $40/share, and volume over 500k, with earnings coming out this month. excell file can be downloaded :
http://www.mediafire.com/?z1aaa628elzhevq
and i shared it on the stockfinder watchlist shares.
I will look for setups several days in advance of earnings, and the trading day after earnings release for potential large moves during the day. (never hold over earnings)
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