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Thanks Spike! I'm on this short like stink on a monkey!
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"Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." Goethe -
In good shape at close.Originally posted by spikefader
Broadening bullish formation is the latest intraday pattern
Price fell to my entry point and bounced hard enought to establish the broadening pattern. Looking for an overnight breakout that tests the pattern's support tomorrow and then heads north with some force. Vector bullish at close again.
And the daily again: That's a bullish candle today too; where it trades to new lows and bounces to close green.
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i could kick myself
I sold those jan 06 calls for market yesterday and they got filled at 1.90. That is a 18% gain in a day not bad right??? Lesson learned NEVER enter a market order for options. I should have entered a limit order for 2-2.10.
Of course I am kicking myself because Sndk comes out with big news which pushed the price up in after hours and is further driving it today, so I proceeded to "re-buy" into my Jan 06 options with a limit order in for 2.55 which got filled. It is now trading at 3.00 intraday. I need to learn to have some patience, but the only reason I sold in the first place was to repurchase when it formed the handle. I will prolly hold this for a while, but be on the look out for the sell on the news on Sept 27th.
any of you guys have further advice for options strategies?
tjkComment
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a trading question
Spike,
Re-reading many of your older messages, I found a wealth of information. However, there is one thing I am still kind of confused about: Do gap's usually fill or not?
For example, let's look at HOKU, which is running like Ben Johnson on steroids. I see that there are TWO a complete gaps formed.
On September 14, it closed at 6.12 and the following day it opened at 6.82 and the low intraday was 6.42
Yesterday, it closed at 7.60 (with intrday high of 8.04) and opened today at 9.26, with a intraday (so far) high of 10.69 and low of 9.23.
So, how do you usually deal with such things? Do you think that the gap from 8.04 to 9.23 will eventually get filled, or do you think that it really doesn't matter. What about the earlier and smaller gap?
I can give you ten's of cases where they did fill, and ten's of cases where they never filled.
Would love to hear your (or anyone else's) comments on this theory. I realize that HOKU is chart which is still being drawn up as I type, so perhaps you can use it as a real-time example.
Many thanks and good trading!Comment
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Tracking the future.
Overnight there was the breakout but no test of the pattern, which was a nice thing. Broke R1 and tested it twice so far. See how it has become rangebound by R1 (now support) and R2 resistance?
The time it took to break out of that triangle allows me to increase the size of the triangle, thus increased the size of the target.
Patterns today? Yep, there is an ascending triangle, although the 2 top tests of the line are close together, but it still counts.
As I speak today's pattern may be breaking down, now threatening with a descending triangle. Price is testing that overnight gap area now and it looks like it wants to fill. I'm going out to lunch now, so I'll tighten my stop to 10570 under price support and will remain patient with this position.Comment
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Greetings,
To Mr. dividend,are you considering HTE,and what is your take on it?Upper 30s should put it on par with other Canroys as far as the distribution yield goes.
Im very impressed with your trading style,and chart work.Nice to have two pros analyzing on the same board.Thanks to NBB,and Spike.
Spike I put a bid in on SNAK at 5.50,hoping it falls to support there,with a stop at 5.05,since its not a huge position I want to give it a little wiggle room,since I like the odds of a return to the upper 6s.8% risk for 25% reward,acceptable?
cordially TomComment
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Tom
Tom,
Not considering HTE right now, but not because I don't think HTE is an excellent stock. I have more investment opportunities than cash. I wish I had a boatload of money, because I'd sink some in this stock, and that one, and that one, and HTE. Just buy HTE and hold the thing. Oil is not coming down. We had a temporary pullback, but she is going to move higher.
What's the divy for HTE right now? Sept divy was $C.35.
Why don't you get a few SOSA shares? Oil driller. Double bottom (see chart at Hot Pick of the Day). Ought to easily take out $13 ($1.15 profit), maybe run to $15+.Comment
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Greetings,
Thanks for the tip NBB,HTE is .35C still,ERF is .37C and its trading at 42.Im looking for upper 30s at least,got in post dip last month at the bargain of 30.20.
Thanks for all your input,will be switching to IB soon,get in on the fun.Im sick of "Rogers" ads anyway.Scottrade elite is a joke.
cordially TomComment
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Sosa
Did you take a look at SOSA?Originally posted by ThomrichComment
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Originally posted by New-born baby
greetings,
Yes SOSA looks interesting,but Im waiting in ambush for BPT,historically the month before dist payment is always good.Next Ex date is Oct. 13,the 50dma is 75.30,and the 100dma is 70.97,so its in the crosshairs IMO.
I think a bid of 71ish is in order.
cordially TomComment
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Hi Spike,
Can I get you to post your view of HOV? I view the HOV chart as bearish. I see near-term support at $53. Do you think HOV can go lower than $53?
Thanks for any comments.
MikeComment
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Spike, I'm finally getting the heck out of ScottSCHISS and moving over to IB and I'm in the middle of the online app and I have never been asked so many liability, 'I agree' questions ever when switching brokers... I just though it was funny...I'm looking forward to it and I may need some help in the beginning with it.Comment
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Originally posted by dmk112
I think you'll be happy with IB!!Comment
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