Options: Low Cost Investing

[billyjoe]

dmk,
Do you always have to have a substantial drop (left side) to eventually have an ascending triangle? How long or short of a time span to form? Thanks

billyjoe

[dmk112]

dmk,
Do you always have to have a substantial drop (left side) to eventually have an ascending triangle? How long or short of a time span to form? Thanks

billyjoe

No, triangles can form anywhere, they can be tops, bottoms, virtually anywhere. The longer the time frame of the triangle, usually, the more substantial it is. I wouldn't be concerned with the time frame though, just as long as it has at least 2 points (the more the better) on the top trend line and at least 2 points on the lower trend line. This one broke out on Thursday but came back in on Friday which can be a buy point. I'm looking for a limit to 15.25.

[spikefader]

Spike,
A most impressive call on those options way back when you bought this current round. I was actually looking for GOOG to pullback farther at that moment in time. But boy what a stock. Great call an I should have bought them with you at that time. I need an uppercut on this one. I think this stock is going to $500. You are the Spikemiester. I love to see big gains whenever someone beats these markets. Great call. I know you will protect and keep those gains.

Thanks ski. Yup, boy what a stock indeed. It'll be a good short one day too and hopefully we'll all be on it! Meant to reply to this sooner but got distracted, sorry.

[spikefader]

Spike you in on any of the QSII calls?

No, I think there are better stocks to trade options with, i.e. more volume and open interest.....plus, and more importantly, I'm not bullish on QSII yet. It's still very vulnerable, with some gaps down below, and the SHS neckline break in now that targets 55.00ish, which is close enough to the 54.50 gap that you may as well call that the bear's target for it. And if that gets hit then all that consolidation from Aug to Nov is taken out, and the sub 50.00 gap could fill. Boy, I hope I'm wrong on those bearish thoughts, but still urge anyone long to hedge it while it's looking so weak. If it starts making higher highs again, and gets over that gap above, great, different story. But until it does, careful on the long side with stock and calls.

[spikefader]

Here's one that's coming back to the triangle : LCRD

Good spotting!

[dmk112]

Spike, how and where can you find charts for options?

[Adam]

No, I think there are better stocks to trade options with, i.e. more volume and open interest.....plus, and more importantly, I'm not bullish on QSII yet. It's still very vulnerable, with some gaps down below, and the SHS neckline break in now that targets 55.00ish, which is close enough to the 54.50 gap that you may as well call that the bear's target for it. And if that gets hit then all that consolidation from Aug to Nov is taken out, and the sub 50.00 gap could fill. Boy, I hope I'm wrong on those bearish thoughts, but still urge anyone long to hedge it while it's looking so weak. If it starts making higher highs again, and gets over that gap above, great, different story. But until it does, careful on the long side with stock and calls.

Thanx for the DL spike. The put options for feb are dropping a little. You suggest insurance even at the current rates?

[spikefader]

Spike, how and where can you find charts for options?

I get my intraday charts by real-time feed into QT.

[spikefader]

Adam, until that gap up top is filled/broken I'll keep my bearish bias. 80.00 channel/price should resist and if you're looking for strength to hedge into, that's where I see the logical place. Others might have better ideas, but that's how I'd play it.

[Adam]

Adam, until that gap up top is filled/broken I'll keep my bearish bias. 80.00 channel/price should resist and if you're looking for strength to hedge into, that's where I see the logical place. Others might have better ideas, but that's how I'd play it.

Thank You.

Take a look at VGCAX 22.5 Jan 07 call. I bought in at 2.75 Thurs before newyears. Dropped to at maybe lower than 2.40 on FRI BN. Thats where I wanted that adveradge down. Now you lookin at 3.60 Whats your long term outlook on Corning? The chart took a jump today, i'm thinkin it will correct a little tomarro? I gotta head out for a meeting hope to hear from you when I get back.

Thanks for everthing SPIKE rules and $$MM$$ is HUGE!!!

[spikefader]

...Whats your long term outlook on Corning? Thanks for everthing SPIKE rules and $$MM$$ is HUGE!!!

Yes, MM is huge That model of his finds some gems! I gotta report on Creme of the Crop in a minute; nice gains for both #1 and #2 today.

But you're welcome and glad any input I throw up can help. Note that generally anything I throw into the equation is short-term and based purely on technicals. And these change so often that it's hard to say XYZ long-term target, since that bias may change tomorrow for all I know.

As for Corning (GLW) I'm bullish on it and the channel turn up today green lights going long the intraday pivot tomorrow, which is 22.17 with a stop under today's price is a little over 4% risk. Long-term for GLW I don't think 73.00 is out of the question, but note that I'd lose that bias below 19.35.

Good luck with it!

[Adam]

Yes, MM is huge That model of his finds some gems! I gotta report on Creme of the Crop in a minute; nice gains for both #1 and #2 today.

for Corning (GLW) I'm bullish on it and the channel turn up today green lights going long the intraday pivot tomorrow, which is 22.17 with a stop under today's price is a little over 4% risk. Long-term for GLW I don't think 73.00 is out of the question, but note that I'd lose that bias below 19.35.

Good luck with it!

Thanx and noted!

[dmk112]

Spike, do you have to do anything special with QT and IB to get those options charts? I read that you have to prefix the symbol with a . (period)

I see on your goog option cart that it is a +GOPAI, are you using IB??

I'm getting the quotes in QT but charts are not coming up or coming up weird.

[spikefader]

dmk,

I actually run multiple instances of QT at one time with data feed from different sources; i.e. one QT instance running with TWS data feed for futures, the second instance of QT for options and multiple portfolio tracking with datafeed from Ameritrade (note the + sign for options you see on the chart). Sometimes I run a third instance of QT for data feed testing purposes if I'm trialing another provider.

There's a 'trick' to running multiple instances of QT, and if you or anyone else ever wants to know, just let me know. It's kinda tricky, but not too hard. You just need multiple QT folders and a simple instruction in your shortcut 'target' properties.

It's been a while, but from memory, to have options data from IB's TWS feed into QT you need to put a - in front of the symbol. So it's -GOPAI. And may I recommend QT's user forum if you ever have a curly question you need answered. You'll find it here http://boards.quotetracker.com/board/ubbthreads.php

Hope that helps.

[dmk112]

dmk,

I actually run multiple instances of QT at one time with data feed from different sources; i.e. one QT instance running with TWS data feed for futures, the second instance of QT for options and multiple portfolio tracking with datafeed from Ameritrade (note the + sign for options you see on the chart). Sometimes I run a third instance of QT for data feed testing purposes if I'm trialing another provider.

There's a 'trick' to running multiple instances of QT, and if you or anyone else ever wants to know, just let me know. It's kinda tricky, but not too hard. You just need multiple QT folders and a simple instruction in your shortcut 'target' properties.

It's been a while, but from memory, to have options data from IB's TWS feed into QT you need to put a - in front of the symbol. So it's -GOPAI. And may I recommend QT's user forum if you ever have a curly question you need answered. You'll find it here http://boards.quotetracker.com/board/ubbthreads.php

Hope that helps.

I have AMTD also, any reason why you use them over IB for options?