MY PICK IS ELN

[skiracer]

I closed half of my position at 13.65. I'll use that half to play ELN with. It's looking like I'll be able to buy back in at a lower price.

Still stalking for an entry...

This is much more fun when you're playing with the houses money! hahaha!

Now you'll make some more money with those gains at a cheaper entry price. I'm glad to see you sell half of it off.

[New-born baby]

Put

Now you'll make some more money with those gains at a cheaper entry price. I'm glad to see you sell half of it off.

Buy some puts and make some more dough.

[sisterwin2]

Buy some puts and make some more dough.

I oh so want to try it....... I want to buy some Puts. This would be all new trading for me.

dena

[skiracer]

I oh so want to try it....... I want to buy some Puts. This would be all new trading for me.

dena

Sisterwin
Before you go off and try something like fooling around with options you had better take a couple of online free seminars or tutorials. You really show have a good understanding on trading them and some basic knowledge on how they work and the risk involved. Try this site: www.cboe.com
They have an abundance of info regarding them and plenty or free tutorials dealing with options.

[skiracer]

Buy some puts and make some more dough.

I don't see it going down enough to make it worthwhile making an options play with the puts. Maybe a few contracts as insurance. Spike had a pretty good idea awhile back on a straddle play which made sense. I think this is going to make another good buying entry on the long side. I'm stalking and waiting to see how far it will drop today. This week is shot and this afternoon is probably going to be boring with everyone getting out early for the holiday weekend.

[sisterwin2]

Sisterwin
Before you go off and try something like fooling around with options you had better take a couple of online free seminars or tutorials. You really show have a good understanding on trading them and some basic knowledge on how they work and the risk involved. Try this site: www.cboe.com
They have an abundance of info regarding them and plenty or free tutorials dealing with options.

I know your right... I have been reading alot and just had to take a break. I get so overloaded that I have to let it settle in my brain for a bit. I will not jump in before I KNOW what I am doing. I took off today from work so I can sit and read while I am decided what to sell before the yr ends.

Looking at my port I have a few stocks that I only own 7 or 3 of. I have sold them while in need while out to sea in 2001 thru 2003. I am thinking about selling the rest that I have held over a year so I dont have to pay the big tax on them and start the yr 2006 with new knowledge that I have gain thru this site and my reading. I was wondering if others on this site have to buy such little amounts of stocks like I do, i.e, I norm only have about 500-1000 (every few months) bucks extra to play with at a time after I pay into my 401, house and boat payments? Let me see, I will start a new thread on this topic.

Happy new Yr all,

I really hate when the new yr comes around... hitting 50 yrs old on the 1st.

[skiracer]

You're going to be 50 Jan.1,2006. Were you born near midnight for the first baby of the year award?

[sisterwin2]

You're going to be 50 Jan.1,2006. Were you born near midnight for the first baby of the year award?

I was born at 12:07... first of hospital, 2nd in Baltimore. My parents got 2 yrs of free milk delivered to house. So that I could make life difficult for them, I was lactose intolerent as a child. hehhhee.... as my mother states. I continued like this for the next 18 yrs.

Dena

[sisterwin2]

I closed half of my position at 13.65. I'll use that half to play ELN with. It's looking like I'll be able to buy back in at a lower price.

Still stalking for an entry...

This is much more fun when you're playing with the houses money! hahaha!

Are you saying that ELN will dip below your 6.whatever entry?

[spikefader]

Spike,
when you speak of the SHS (and you will ) oops just dated myself there,

do you refer to the one stating beginning of Dec, or the larger one beginning of November, where the SHS of Dec appear like bumps on the head?

If that is truly a larger SHS pattern starting in November, there could be quite the drop. Thoughts?
thanks.
m

Yep, the one with the pink 3 5 and 'b' in that previous chart. That one targets 10.80 and would stop me out. The neckline broke today, but it could be the 'c' that gets bought big time, breaks the SHS pattern, and we're off to another bullish 5 impulses, the fuel of which will be the fact that the SHS pattern failed. That's often good fuel. As I type I see bullish inverted SHS and impulses, so there's a chance the 'c' is in now.

Congrats on the profit Webs, good thing you held some for those bragging rights Honestly dude, I think you should keep a position in it until it gets to 60.00. It has the potential to be the trade of your life Print it out and put it on your wall. heh

As for puts, I wouldn't be buying any at this point. It's acting very very bullish people. The only way puts would make sense is if there is a solid 'c' long failure or some other price action/volume combo that destroys the charts. Right now, I think it's healthily climbing and worthy of trading long bias all the way to the gap fill. You want to buy puts, buy them on something vulnerable, like QSII or something really weak like GM. But just like every other trade, ya gotta time it well. Or yes Ski, a straddle would be great for sis's first option play. Something cheap, something with potential volatility either way, and that would provide some good experience as she watches and learns how premiums work, and the limitations (and advantages) of options. I agree with Ski, they need research and watching before trading. Put the option ticker in Quotetracker, along with the stock, and what how it trades, see the percentage moves, and how much you can make (and lose). But sis, don't be scared to trade options, but use them very very wisely. If you're exposed to a position and there is cause for concern, like with QSII, then buy out of the money puts that cost very little but allow you to sleep at night. Post the stock, the concern, the thoughts on which puts and why and I'll give you my opinion for what that's worth. Others here are a huge help too. The only dumb question is the one not asked. But options can be great vehicles to hedge, and many people never even learn what they are and remain heavily exposed in the market.

Anyway, back to ELN, the intraday SHS targets intraday R1 at 13.67. That'll be next resistance I think. It's above intraday pivot, so this is good.

People who were waiting for the 'c' long today, it was the break of that neckline at 13.41. That was the play. 2% risk for the big target gap fill. Nice r/r that.

[sisterwin2]

Congrats on the profit Webs, good thing you held some for those bragging rights Honestly dude, I think you should keep a position in it until it gets to 60.00. It has the potential to be the trade of your life Print it out and put it on your wall. heh

thanks spike...... for a minute there I thought I was sooooooo far off track. I see ELN climbing to the 30's in the next 6 months. If it was going back to 6ish I was going to sink my boat and give up on trading forever.

[spikefader]

thanks spike...... for a minute there I thought I was sooooooo far off track. I see ELN climbing to the 30's in the next 6 months. If it was going back to 6ish I was going to sink my boat and give up on trading forever.

lol ya, frustration will do that.

But seriously sister there's zero guarantee of ELN doing anything except what the market participants drive it to do. I'm bullish and will stay bullish until something significantly bearish happens to the chart, but I learnt a long time ago that any bullish chart pattern can turn into an ugly chart and hit every limb on the way down. If bad enough news hits a stock it can easily do that. So be flexible and fast to react. Otherwise hope can easily creep in. Right now there's 'green hope' for me, which is allowed. It's the 'red hope' you gotta watch out for.

[sisterwin2]

lol ya, frustration will do that.

But seriously sister there's zero guarantee of ELN doing anything except what the market participants drive it to do. I'm bullish and will stay bullish until something significantly bearish happens to the chart, but I learnt a long time ago that any bullish chart pattern can turn into an ugly chart and hit every limb on the way down. If bad enough news hits a stock it can easily do that. So be flexible and fast to react. Otherwise hope can easily creep in. Right now there's 'green hope' for me, which is allowed. It's the 'red hope' you gotta watch out for.

I'm in at 10.90 with stops in place if fall to 12.80 right now. Love the ability to put stops in... have to work for living and cant sit at pc to watch all day. allows me to rest a bit.

[spikefader]

OK, intraday I'm seeing we've done a 3 of 5 with a little abc entry for the 5th up. I'll do a chart. But anyone looking for an aggressive low risk entry, here is one, long here 13.67 with stop at 13.60 to target the 5th up.

[spikefader]