remember today will likely play out like the standard trend
days, see my post from this morning and posts from the past, they
all behave in a similar way, look for some divergence later in the
afternoon and watch the 60 Stochastic, generally stays above 80%
either the entire day, or until the last hr. MACD will
eventually recycle back to zero and price back to the 50 SMA by the
afternoon.
I hate these kind days, screws up a lot of charts, and of course
it's Friday.
One thing I am watching however are the weekly 140 SPY call
options that expire today, they are trading for 7 - 8 cents.
As long as SPY closes below 140 today, those will expire
worthless, I may sell some naked calls on those to get the
premium, I won't hold if SPY closes above 140.
winter39-
regarding your question for a book recc on Options, I have only
looked at a couple before, so I might not be the best source.
Zach or some others here might be able to point you to some
more resources as they trade options more than I do.
First off try Investopedia, it's a free resource.
as far as books, I've looked at "McMillan on Options" and "Sure
Thing Options Trading" there were OK but I can't say if they were
better than other books on options
remember today will likely play
Shorting SPX here?
Posted by matt on 3rd of Aug 2012 at 11:48 am
remember today will likely play out like the standard trend days, see my post from this morning and posts from the past, they all behave in a similar way, look for some divergence later in the afternoon and watch the 60 Stochastic, generally stays above 80% either the entire day, or until the last hr. MACD will eventually recycle back to zero and price back to the 50 SMA by the afternoon.
I hate these kind days, screws up a lot of charts, and of course it's Friday.
One thing I am watching however are the weekly 140 SPY call options that expire today, they are trading for 7 - 8 cents. As long as SPY closes below 140 today, those will expire worthless, I may sell some naked calls on those to get the premium, I won't hold if SPY closes above 140.
Options
Posted by winter39 on 3rd of Aug 2012 at 12:43 pm
Hi Matt,
Could you please recommend a good and well written book or DVD
for learning about trading options for a beginner.
Thanks much. and for all your fine work.
winter39- regarding your question for a
Posted by matt on 3rd of Aug 2012 at 02:25 pm
winter39- regarding your question for a book recc on Options, I have only looked at a couple before, so I might not be the best source. Zach or some others here might be able to point you to some more resources as they trade options more than I do.
First off try Investopedia, it's a free resource.
as far as books, I've looked at "McMillan on Options" and "Sure Thing Options Trading" there were OK but I can't say if they were better than other books on options
Free source for Options
Posted by winter39 on 22nd of Aug 2012 at 05:28 am
Thanks much
This feels like short covering
Posted by darnelds on 3rd of Aug 2012 at 12:01 pm
This feels like short covering rally.
yes
Posted by law6 on 3rd of Aug 2012 at 12:21 pm
all night could only find one stock that looked good and it was meli..made me think they would yank it up
plus all the negative news