If you sell calls against the position, you'll be locked in won't you? If the system moves up and indicates a sell, like in a few days and you've sold calls, you would have to buy them back at a higher price otherwise hold the position until expiration. 

I was glad the system went long; I was thinking that a good reason for the markets to move up would be action prior to Memorial Day. If you look back, markets almost always seem to move up into the three day weekends and holidays. Also, the stats on the system seem to show more winning trades on the long side vs. short side. 

I think you will get a better price if you buy now after hours.

Thanks...it was a nail biter again!

I've got the close at 132.04, so I guess we went long? I did :)

Thanks Tom and Burkmere for giving my question some energy.

Sounds like the diversity in trading vehicles and styles is a good thing then so we don't end up competing against ourselves in forcing the price up or down at the open or close. 

Tom, I'm replying to this so that it doesn't accidentally post on the community board. 

Just wanted to get feedback on something I have been wondering about and it's effect on the spy system. There are 500 members and I'm sure some are trading much more cash than I am in the system and it made me think about the possible effect this could have when we are all closing positions on the open. Could the small gap that occurred at the open on the 17th sell signal have been created by us to some extent? I know there may be some "LOL" responses to this, but just some food for thought. (and its effect on system results). 

Also, is anyone else using the signals from the system on the buy side to get fully invested in their 401ks? I think that as long as the LONG TERM buy is in effect (from the LONG TERM TOOLS sections of the website) this may be a good way to put cash to work using the multi entry system. And I know the market looks top heavy in the short term and possibly intermediate term but many heavily weighted index stocks are trading pretty darn cheap still (MSFT, CSCO, etc.).

Just putting this out there to see others thoughts on these things. Thanks!

I agree with this, if the two systems are giving differing signals then following the stronger 'deeper pullback system' makes sense, especially sense this system gives fewer signals; I would think they would be stronger signals. 

Yes, I was just about to type that! Hope that $1 is to the upside now!!

I missed that one....I bought back calls I had sold about 3 weeks ago though...been waiting for a move...hopefully that $1 will be to the upside...I just don't feel like this stock can get much cheaper. 

CSCO...LOL....I think I probably own more shares than the insiders now, who seemed to have dumped most last quarter....LOL!

Man, would I love to see that gap closed at 22!

5 percent up or down? Can you tell? I have shares of CSCO, cb 20 and wonder if I should sell calls before the announcement or not. 

I was just wondering if you were talking about a 401k or an IRA. I have some insight into trading an IRA and it doesn't have to be through a mutual fund via broker or via a fund family. I used to think that was the only option.

After a job change I transferred my old 401k into an IRA (they call it a rollover IRA). You can take this IRA and trade it just like any account through a discount broker. The only limitations are that you can't short in an IRA. You can buy any inverse etf's, etf's or stocks though.

Then I took it one step further and found a broker, optionshouse, that only charges $3.95 per transaction. They give you $100 and 100 free trades (over a two month period) just for opening an account and transferring your IRA. There are not trade restrictions whatsoever and you can even trade after hours.

I hope this helps :)

Why don't you change brokers if they charge such high fees or is this a 401k where you don't have any choice?

Matt,

Congratulations...this is such a special time in your life, relax and enjoy every minute of it! And best wishes to you and your wife for a happy, healthy baby!

yes, it does; I traded it yesterday after hours

Since you have TDAmeritrade have you thought about downloading their free Strategy Desk platform and monitoring it that way? 

They were very accurate yesterday. I had little lines drawn on the chart as to Matt's levels and it really helped. It's up to the second.You can also buy/sell through the platform.

The problem with trade triggers might be that it hits the trigger price but closes outside of it. Instead I placed a "save order" which you can do on TD and was ready to push one button if it closed within the parameters. You can also access saved orders from Strategy Desk. 

Hope this helps.

I did the same and since I'm new to the after hours....learning curve only cost $3...LOL! Matt, thanks for keeping us up to minute and being so honest with what's going on.

I think once things get more routine...it will be much easier!

Addendum, no problem....was able to fix by selling in the after hour market...Matt, I'm sure this probably gave you an ulcer...I think these kinds of things always happen when taking a maiden voyage with something like this. Thanks for keeping us up to the minute...I know you're giving it 110%!