Doctor Jack's Stock Medicine

[Jack Haddad]

Amd

Can you give me your thoughts on AMD ??

I actually followed your call on Friday and bought AMD at $ 20.03 and wrote Nov 20s at $1.23 ( instead of the Nov 17.5s) ... now Im trying to figure out what to do with them . Should I wait for the time premium to diminish on the calls and let the stock run ?

Both strike price will give you time value...However, the 20.00 strike, being "at the money" will decay faster becuase it's not obligated to any intrinsic value. If youre accumulating a position for the long run, I like the 20 strike better.

[Jack Haddad]

Dia

Shorted 2 blocks at 121.09

Covered at 120.73

[Jack Haddad]

Dia

Re- shorted 2 blocks at 120.89. I'll cover tomorrow for a more ripe trade.

[jblaze71]

Jack,

How did you know exactly when to get out of your short? I saw that DIA was overbought according to the RSI and MACD. I am just trying to gleen some info on how and when to get out of position so quickly.

[Jack Haddad]

Slb

Bought 4 blocks of SLB at 60.26 to 60.30, and wrote 400 Nov 57.50 calls at 4.00. The retraction to test the 58 sipport should be protected by the "deep in the money" calls.

sold 6 blocks of SLB at 60.83, and bought back the Nov 57.50 calls at 4.40. Netted 16 cents/share times 60,000 shares.

[peanuts]

sold 6 blocks of SLB at 60.83, and bought back the Nov 57.50 calls at 4.40. Netted 16 cents/share times 60,000 shares.

I need a poster of you for my wall. I'll put it next to Rob, but of course, under Mr. Market

Seriously, nice trades!

[Jack Haddad]

Jack,

How did you know exactly when to get out of your short? I saw that DIA was overbought according to the RSI and MACD. I am just trying to gleen some info on how and when to get out of position so quickly.

For these intraday scalps, I rely on the hourly and 5 min charts... Also, momentum plays a huge role in successfuly matring these kind of trades. It is of paramount importance to have had them placed on your montior list for quite some time to learn about their behavior.

[jiesen]

I need a poster of you for my wall. I'll put it next to Rob, but of course, under Mr. Market

Seriously, nice trades!

Yes, I'm noticing, too. Just about every trade yours is dead on, Jack... you are HUGE!!!

[Tatnic]

Re- shorted 2 blocks at 120.89. I'll cover tomorrow for a more ripe trade.

FED announcment in about 35 minutes (@ 2:05 ET)..should be interesting. Shoudl be no surprise that they'll keep the rates unchanged, but I'm thinking they'll be more hawkish at this point. We'll see...the way the market is reacting lately nothing seems to get it down.

[Jack Haddad]

FED announcment in about 35 minutes (@ 2:05 ET)..should be interesting. Shoudl be no surprise that they'll keep the rates unchanged, but I'm thinking they'll be more hawkish at this point. We'll see...the way the market is reacting lately nothing seems to get it down.

The rally in the last couple of months is really over-extended. We need a pullback badly.

[peanuts]

The rally in the last couple of months is really over-extended. We need a pullback badly.

Jack,

I was thinking the exact same thing. I'm waiting on the climax of this sub-plot, then I'm out.

[Tatnic]

The rally in the last couple of months is really over-extended. We need a pullback badly.

This market is on steroids. I'm still seeing some room for the bullish % numbers to keep rising. But at the very least, you'd think a yellow caution light would come on somewhere?

[Jack Haddad]

This market is on steroids. I'm still seeing some room for the bullish % numbers to keep rising. But at the very least, you'd think a yellow caution light would come on somewhere?

If the selling continues tomorrow, then we would see bargain hunters step in. Thereafter, any selling would confirm a trend reversal.

[Jack Haddad]

Mrvl

Bought 6 blocks of MRVL at 16.50, and wrote 600 Nov 16.25 at 1.00/contract

Sold the shares at 17.65, and bought back the calls at 1.70, netting 35 cents times 60,000 shares.

[Jack Haddad]

Dia

Re- shorted 2 blocks at 120.89. I'll cover tomorrow for a more ripe trade.

Covered at 120.73