Edited by NAV, 15 July 2008 - 09:15 AM.
Options play
Started by
NAV
, Jul 15 2008 09:11 AM
7 replies to this topic
#1
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 15 July 2008 - 09:11 AM
Bought Aug calls around SPX 1200 level. Risking 4% of my account. No stop.
Technical reason - SPX 1200 was the measured move target on daily charts.
Tactical reason - Bounce is inevitable. Even if we crash a spike reversal will bail me out at breakeven or profits.
We shall see.
#2
SemiBizz
-
- Traders-Talk User
- 23,208 posts
Volume Dynamics Specialist
Posted 15 July 2008 - 09:22 AM
You see a pattern in there somewhere? 
Must be the bacon....
Must be the bacon....
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 15 July 2008 - 09:36 AM
Semi,
No pattern. When was the last time you saw 2800 decliners vs 200 advancers ?
Capitulation
P.S - Intraday, we could visit 1180. Or maybe not. Certainly, not for the faint of the heart.
No pattern. When was the last time you saw 2800 decliners vs 200 advancers ?
Capitulation
P.S - Intraday, we could visit 1180. Or maybe not. Certainly, not for the faint of the heart.
Edited by NAV, 15 July 2008 - 09:37 AM.
#4
hitoya
-
- Traders-Talk User
- 494 posts
Member
Posted 15 July 2008 - 09:37 AM
Good thought. I was thinking about risking 10% of my account for the call. But as I have been waiting for a while, I like to wait a couple more days before jumping in. This is getting interesting.
Bought Aug calls around SPX 1200 level. Risking 4% of my account. No stop.
Technical reason - SPX 1200 was the measured move target on daily charts.
Tactical reason - Bounce is inevitable. Even if we crash a spike reversal will bail me out at breakeven or profits.
We shall see.
#5
hiker
-
- TT Member*
-
- 12,118 posts
independent trader
#6
SemiBizz
-
- Traders-Talk User
- 23,208 posts
Volume Dynamics Specialist
Posted 15 July 2008 - 09:40 AM
Well, you got the round number bounce, but you had a volume spike low that needs to be tested. And the main theme here in my way of thinking is that 2155 Nasdaq...
Maybe SPX can hold here while that gets under way, but FNM still needs to test 6.68 also...
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#7
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 15 July 2008 - 09:53 AM
"In general, healthy economic growth depends on well-functioning financial markets. Consequently, helping the financial markets to return to more normal functioning will continue to be a top priority," - Bernanke
"Helping" being the key operative. Now, where's the PPT ?
#8
jdjimenez
-
- Traders-Talk User
- 1,252 posts
Member
Posted 15 July 2008 - 10:51 AM
"In general, healthy economic growth depends on well-functioning financial markets. Consequently, helping the financial markets to return to more normal functioning will continue to be a top priority," - Bernanke
"Helping" being the key operative. Now, where's the PPT ?
Reminds me of that old Burger King commercial.
WHERE'S THE BEEF?!
JDJ
