Option Trading in Your Spare Time archives

Monthly Archives

May 2012

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May 1 2012, 12:00 AM
acukid: Love to be inWendyu
May 1 2012, 12:01 AM
The-Real-Wendy: Thanks
May 1 2012, 12:01 AM
The-Real-Wendy: That's great mtopliff
May 1 2012, 12:01 AM
chandra3737: hi everyone.
May 1 2012, 12:01 AM
Harley2: Hi Chandra
May 1 2012, 12:01 AM
The-Real-Wendy: Hi Chandra-- welcome
May 1 2012, 12:02 AM
chandra3737: hi wndy n Harley2
May 1 2012, 12:02 AM
The-Real-Wendy: mtopliff- this is a great place to ask questions-- everyone is helpful-- if I don't know the answer someone else will
May 1 2012, 12:03 AM
The-Real-Wendy: Well - let's get started.
May 1 2012, 12:03 AM
The-Real-Wendy: Does anyone have a question or something they'd like to discuss before we get started on charts?
May 1 2012, 12:03 AM
mtopliff: Ok so I will start. I would like feed back on APOL, NEM and TSo. Today I bought the 2 strike ITM Aug options on each.Good/Bad/indiffereent move?
May 1 2012, 12:04 AM
traveljunkee: hmm calls or puts
May 1 2012, 12:04 AM
The-Real-Wendy: I assume that you all know that we are now officially back into a confirmed uptrend, meaning the bias will now be up.
May 1 2012, 12:04 AM
mtopliff: Calls
May 1 2012, 12:04 AM
The-Real-Wendy: Let's take them one at a time
May 1 2012, 12:04 AM
The-Real-Wendy: TJ is a chart poster
May 1 2012, 12:04 AM
traveljunkee: apol http://stockcharts.com/h-sc/ui?s=APOL&p=D&b=5&g=0&id=p31984587772
May 1 2012, 12:04 AM
traveljunkee: http://stockcharts.com/h-sc/ui?s=APOL&p=D&b=5&g=0&id=p31984587772
May 1 2012, 12:05 AM
traveljunkee: oops that's what i get for trying to eat dinner with one hand and type with the other LOL
May 1 2012, 12:05 AM
acukid: I was looking at candlesticks - Hammer at bottom of trend often portends up movemnet, what is a reversed hammer when found at top of a trend called. When it occurs, seems significant.
May 1 2012, 12:05 AM
traveljunkee: hanging man
May 1 2012, 12:06 AM
The-Real-Wendy: Look at the chart and tell us what you see
May 1 2012, 12:06 AM
traveljunkee: and nison says that reverse means it could go in the reverse direction or sidways.
May 1 2012, 12:06 AM
The-Real-Wendy: Everyone join in, don't be shy
May 1 2012, 12:06 AM
Guest631 (guest): you need confirmation with hammer at the top
May 1 2012, 12:07 AM
traveljunkee: are y'all seeing a hanging man on apol? where?
May 1 2012, 12:07 AM
Harley2: +DI below -DI, RSI down, Acc/Dist down
May 1 2012, 12:07 AM
The-Real-Wendy: As for the P3, the thing I notice is the +DI has not yet crossed up
May 1 2012, 12:07 AM
mtopliff: Aug 23rd Hanging man
May 1 2012, 12:07 AM
The-Real-Wendy: Harley, you beat me
May 1 2012, 12:08 AM
traveljunkee: april 23rd?
May 1 2012, 12:08 AM
Guest631 (guest): hanging man also needs confirmation
May 1 2012, 12:08 AM
mtopliff: The way I read the book, +D just needs to be heading up, not crossing over.
May 1 2012, 12:08 AM
traveljunkee: ok now i see it it is a hammer in a downtrend and it did get a bull candle confirmation.
May 1 2012, 12:09 AM
The-Real-Wendy: That is true mtopliff, but until it crosses the stock can go flat if it levels out
May 1 2012, 12:10 AM
traveljunkee: Di's sure are far apart and they look lazy
May 1 2012, 12:10 AM
mtopliff: crosses what? -D?
May 1 2012, 12:10 AM
traveljunkee: +DI must cross above -DI
May 1 2012, 12:11 AM
mtopliff: seems kind of late in the trade for that, but I will keep it in mind.
May 1 2012, 12:11 AM
Guest411 (guest): http://stockcharts.com/h-sc/ui?s=APOL&p=W&b=5&g=0&id=p56085084397
May 1 2012, 12:11 AM
Harley2: +DI cross the -DI and the ADX starts to head up
May 1 2012, 12:11 AM
acukid: looks like sort of squeezed out. LOL
May 1 2012, 12:11 AM
Guest411 (guest): the above is the weekly -- it has a definite pattern of oscillating to it
May 1 2012, 12:11 AM
traveljunkee: nice squeeze on the weekly
May 1 2012, 12:12 AM
Guest411 (guest): on the weekly, has anyone ever bought calls and puts. It looks like it could be played that way
May 1 2012, 12:12 AM
chandra3737: i think it may take sometime to confirm the uptrend.
May 1 2012, 12:13 AM
The-Real-Wendy: mtopliff, sometimes the +DI will continue and cross right through, but many of us have experienced a trade going flat if the +DI goes flat or takes its sweet time in crossing the -DI
May 1 2012, 12:13 AM
traveljunkee: the +DI and -Di are sorta like momentum indicators. if theres enough umph in the stock to maintain the trend then the Di's will cross fairly soon after the PPO lines cross. then you get in and ride the momentum up
May 1 2012, 12:14 AM
traveljunkee: *IMO
May 1 2012, 12:14 AM
acukid: Yes, on the weekly wide space in PPO will take awhile to close and go upward ...so I think
May 1 2012, 12:14 AM
The-Real-Wendy: The weekly chart and patterns can be nice plays and they last longer
May 1 2012, 12:15 AM
mtopliff: I wanted the Aug deep ITM calls to allow time for the option to grow without worring about decay. Plan to sell sometime in July.
May 1 2012, 12:15 AM
traveljunkee: you know one thing about the apol daily if you want to hold on to hope is the rsi has been steadily rising even though apol price is making a bottoming pattern
May 1 2012, 12:15 AM
The-Real-Wendy: APOL weekly looks like it could be forming a double bottom
May 1 2012, 12:16 AM
The-Real-Wendy: mtoliff-- sounds like a smart plan
May 1 2012, 12:16 AM
mtopliff: APOL PPPS > 9EMA, 9EMA >15 EMA but increasing
May 1 2012, 12:17 AM
mtopliff: also Increasing VOL.
May 1 2012, 12:17 AM
mtopliff: Double bottoms are good (no pun intended)
May 1 2012, 12:18 AM
traveljunkee: here's a few annotations http://stockcharts.com/h-sc/ui?s=APOL&p=D&b=5&g=0&id=p31984587772&a=265910465
May 1 2012, 12:18 AM
The-Real-Wendy: If you are going to jump the gun on +DI cross on the daily chart, you could look for it to happen first on the 60 minute chart-- it is close but not yet
May 1 2012, 12:18 AM
The-Real-Wendy: yes, DB are good
May 1 2012, 12:19 AM
lagalbincea: what yime do we start
May 1 2012, 12:19 AM
acukid: Good show, TJ love your annotations
May 1 2012, 12:20 AM
traveljunkee: thank you. very kind.
May 1 2012, 12:20 AM
The-Real-Wendy: Start what? The chat? We are chatting and looking at charts. 8 PM EST
May 1 2012, 12:20 AM
traveljunkee: wendy and i start about 45 min before the market opens. and i think we don't quit till we drop dead at night
May 1 2012, 12:20 AM
The-Real-Wendy: lol
May 1 2012, 12:21 AM
The-Real-Wendy: Ok what was the next symbol?
May 1 2012, 12:21 AM
mtopliff: NEM
May 1 2012, 12:21 AM
traveljunkee: just messing lagalbincea. are you asking when do we jump into a stock?
May 1 2012, 12:22 AM
traveljunkee: NEM http://stockcharts.com/h-sc/ui?s=NEM&p=D&b=5&g=0&id=p86619694227
May 1 2012, 12:22 AM
The-Real-Wendy: Thanks TJ
May 1 2012, 12:22 AM
traveljunkee: just had earnings 4/26
May 1 2012, 12:23 AM
traveljunkee: i like newmont but its a mining stock and i can't tell what's going to happen next with Europe in the mix.
May 1 2012, 12:23 AM
Harley2: Same issues as APlO
May 1 2012, 12:23 AM
mtopliff: That is one of the reasons why I liked NEM, earnings report is already factored in.
May 1 2012, 12:23 AM
ksfarmer38: Hi Wendy, I mentioned on daily chat that I was using stockfetcher to find some ideas. Today hit CHK, LVLT and INFY. Just going into squeeze
May 1 2012, 12:23 AM
The-Real-Wendy: Nice when earnings are behind the trade
May 1 2012, 12:23 AM
mtopliff: TJ: Can you expound on the significance of the CCI chart?
May 1 2012, 12:24 AM
traveljunkee: great idea. they can really sneak up and get you if you're not watching
May 1 2012, 12:24 AM
The-Real-Wendy: Great KSfarmer
May 1 2012, 12:24 AM
The-Real-Wendy: will look at them
May 1 2012, 12:24 AM
acukid: This was my bad. NEM. Traded on the squeeze several weeks ago and took 50% loss before I got out. Didn't wait for confirmation 9 over 15, or 7 over 20. Hope I learned something.
May 1 2012, 12:25 AM
lagalbincea: lets go
May 1 2012, 12:25 AM
traveljunkee: best thing i can do right now is give you this http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:commodity_channel_index_cci
May 1 2012, 12:25 AM
The-Real-Wendy: acukid- hard lesson to learn, but one I am sure you will remember
May 1 2012, 12:26 AM
traveljunkee: chk http://stockcharts.com/h-sc/ui?s=CHK&p=D&b=5&g=0&id=p67210859483
May 1 2012, 12:26 AM
Harley2: lagal...what are you asking...we are going
May 1 2012, 12:26 AM
The-Real-Wendy: mtopliff-- CCI is an indicator used in the T3 strategy. TJ's chart has both sets of indicators on it
May 1 2012, 12:26 AM
traveljunkee: nice squeeze but the di's have a ways to go
May 1 2012, 12:27 AM
mtopliff: I can see how CCI would work for either.
May 1 2012, 12:27 AM
traveljunkee: chk earings tomorrow
May 1 2012, 12:27 AM
The-Real-Wendy: Yes, it is quite like the WMS%R
May 1 2012, 12:27 AM
traveljunkee: always check earnings.com to see when you might get slammed
May 1 2012, 12:28 AM
The-Real-Wendy: what do you see on CHK?
May 1 2012, 12:28 AM
mtopliff: Is W%R more lagging than CCI?
May 1 2012, 12:29 AM
traveljunkee: lvlt earnings may 3rd
May 1 2012, 12:29 AM
The-Real-Wendy: WMS%R sometimes seems to be more exaggerated
May 1 2012, 12:30 AM
The-Real-Wendy: What chart are we one CHK?
May 1 2012, 12:30 AM
djhar7: price crossed 9 EMA

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