3309 Drysdale Ct
Edwardsville, IL 62025
Just a quick scalp? Looks like negative divergences on almost
all the indicators, right?
Know the upper limit of the premium (extrinsic value) you're
willing to pay and set your limits there. Of course, premium
will change relative to your bid price as the underlying
moves - so, if you don't get filled, you can't leave your order in
place for very long without adjusting it. I almost always use
spreads, so my calculation is a combination of long & short
premium in order to arrive at the total premium I plan to collect
(typically collecting premium vs paying it). For the most
part, I stick to options with much tighter spreads than what you're
Sorry about the lack of patience. I'm in Hawaii and looking for
an early exit to get some kiteboarding in while the wind is still
good today :)
RE the SPY system possible Trade alert - potential option
Any related thoughts on the micro version of the ES? (/MES)
ESNT looks like a nice breakout with volume to
I just rolled SPY put spread into October. Seems range
bound for now...but we're trained to fear SEP/OCT, right?
Full disclosure, I took off all my protection in anticipation
of the Santa rally last year....didn't work out so well.
Uncovered my MTG calls this week and feeling good about it.
Seems like an ideal setup. Positive divergences on most indicators.
I know this is all about technical analysis, but how much
exposure does AMD and/or the sector have to trade wars, rumors of
wars, etc? I'm a big holder myself, but I use options spreads
exclusively for this name....and it's helped me sleep through the
Thoughts on the strike you might choose if going the option
route on the SPY trade?
I'm looking to go long now on the break above 293. .
the break failed (final part was right at Trump's
announcement) and fell right back into the old pattern...
Was going to post this one that seemed to be flagging last night
(LVPB), but ran into tech issues. The second screenshot is the
follow through so far today.
Yep, and by the initial looks of things it was a decent report.
First move was up a couple of percent but now down slightly.
Not a lot of AH action / volume on this one.
OIH went parabolic
A system not being profitable on a certain trade or trades is
not a failure in my mind. If anyone knows of a100%
system that generates more than 1 or 2 signals per year, please let
us know. The idea is to take each trade the system generates
in order to take the emotion out of the trading process. If it's
been backtested properly and the structure / mechanics of the
particular market you are trading do not experience an unusual
shift, the system should generate positive returns over the medium
to longer term. Trying to cherry pick winning signals from losing
signals from inside a single system, kind of defeats the purpose.
I'm also afraid that trying to explain each time the system does
not produce a profitable signal will make Matt gun shy about
providing more systems in the future because people mistakenly seem
to expect perfection.
Divergence on some of the shorter term charts
Any thoughts on TBT for a short term trade?
On the long side, my portfolio is 100% spread trades right now
(many of them BPT ideas). I have been buying deep in the money
calls (stock replacement with very little premium) and selling in
the money calls so I can enter with some downside protection built
in. Yes, I limit my upside with this approach, but it seems
crazy to put new long money to work with the charts looking the way
they do right now.
Were last nights' statistics from Back-testing or Actual Trade
Thanks for the SPY system notification last night. I
bought some in the money SPX puts to fade this morning's opening
push. All the action/volume was on the out of the money side, but
that's not really my style unless it's a gamble type trade. I also
typically stick to spread trades, but in this case, I went with
naked puts because I don't see holding them for very
1st target is the 9 EMA around 2720? Unofficially of
course - I realize you have discontinued the SPY system for
the time being.
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