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pidge66 wrote:Thanks AK84. I normally feel "shackled" and frozen given any options hedge, usually I just let it expire worthless. I think options are a lot harder.AK84 wrote: Depends on a lot of different factors and "feelings" I guess. I normally try not to hold my positions for more than 7-10 days (time decay can kill u ! ) and usually buy at calls/puts at least 2 months out if its a swing position. Day trade is different and I use weeklies sometimes but honestly its very stressful and I have a another job (one that requires me to sit at a desk for 10 hours a day.....i consider that my second job )
I usually ITM options (at least 2-3 strikes below current or entry price) . I start off buy naked calls/puts with protective hedges such as aapl , or stronger stocks that I like (changes EVERYDAY!!) and if i make money and want to hold overnight I either strangle or spread the position to protect profits.
If i had sep puts on any positions I had today I would have gotten v vv pissed with the action of the last 2 days because of the chop and vol! but my positions have respected me ....so far!!
sorry if im not very clear but hope i could help in some way possible!
What kind of secondary job allows you to trade so much? I'd like to get one!
Yes, I noted this earlier, too. My concern is that 50% is not a "normal" retracement target. Usually one lower or higher (i.e. 61.8%) So, I'm on edge... Although short biased, for sure.EvilTrader wrote:Cobra wrote:Didn't you see I didn't disagree with EvilTrader? There're always some chances especially if we close Open > Close today, with VIX double reversal bars, with NYMO and T2122 at record high, what else can I expect? I have to say a top of some kind was in or very close.q2model wrote:Under what condition would you say top is in?Cobra wrote:let's see how market closes today.EvilTrader wrote:Im inclined to believe the TOP was already seen for this week.
That´s it.
Also, this rally did reach the 50% retracement line from the recent sell-off.
Thanks!!!AK84 wrote: ...
Hope this helps!
didnt get a chance to look at ANR or MLM but MCK looks good to hold overnight and SOHU as well (although sohu broke out of daily downtrend line but with the black bar on daily chart u could be ok ).janez wrote:SOHU, ANR, MLM, MCKjanez wrote:I shorted heavy mid day. Now wonder whether to cover some or all.
I expect a pullback of some kind. As for Bear Flag or Rising Wedge or more bullish one Double Bottom, we'll have to see how pullback goes. Right now too early to say.Mongoose wrote:Cobra, Your call this morning and from yesterday close the market looks overbought is spot on, at least at this time of writing. Not getting unnerved with some of the intraday highs would have proved extremely profitable shorting.
I see light volume, and some volatility indexes rising, albeit on low volume - which suggests to me the market is waiting and adjusting.
Assuming one of two outcomes tomorrow: the market closes up (strong), or closes down (weak), what do the patterns say today?
In other words, does today point to either a bear flag or a rising wedge (?) ?
Or, all things being equal, what is most likely to be expressed based solely on todays data, should hypothetically one of the two events occur?
I apologize, if I am not even asking the question correctly. Thanks.
the open price is 122.46 for SPY.rola wrote:Cobra, what is today open for SPY, because from my platfom it seems way to low, how this occur when the futures were very high at the open.
Thanks
ideas on why the market is putting in such a strong end of day move?Cobra wrote:I expect a pullback of some kind. As for Bear Flag or Rising Wedge or more bullish one Double Bottom, we'll have to see how pullback goes. Right now too early to say.Mongoose wrote:Cobra, Your call this morning and from yesterday close the market looks overbought is spot on, at least at this time of writing. Not getting unnerved with some of the intraday highs would have proved extremely profitable shorting.
I see light volume, and some volatility indexes rising, albeit on low volume - which suggests to me the market is waiting and adjusting.
Assuming one of two outcomes tomorrow: the market closes up (strong), or closes down (weak), what do the patterns say today?
In other words, does today point to either a bear flag or a rising wedge (?) ?
Or, all things being equal, what is most likely to be expressed based solely on todays data, should hypothetically one of the two events occur?
I apologize, if I am not even asking the question correctly. Thanks.
Because its schizo ...duh !!jarbo456 wrote:ideas on why the market is putting in such a strong end of day move?Cobra wrote:I expect a pullback of some kind. As for Bear Flag or Rising Wedge or more bullish one Double Bottom, we'll have to see how pullback goes. Right now too early to say.Mongoose wrote:Cobra, Your call this morning and from yesterday close the market looks overbought is spot on, at least at this time of writing. Not getting unnerved with some of the intraday highs would have proved extremely profitable shorting.
I see light volume, and some volatility indexes rising, albeit on low volume - which suggests to me the market is waiting and adjusting.
Assuming one of two outcomes tomorrow: the market closes up (strong), or closes down (weak), what do the patterns say today?
In other words, does today point to either a bear flag or a rising wedge (?) ?
Or, all things being equal, what is most likely to be expressed based solely on todays data, should hypothetically one of the two events occur?
I apologize, if I am not even asking the question correctly. Thanks.
...it's like a woman! -_- (sorry for the women on this board...i kid ^^).AK84 wrote:Because its schizo ...duh !!jarbo456 wrote:ideas on why the market is putting in such a strong end of day move?Cobra wrote:I expect a pullback of some kind. As for Bear Flag or Rising Wedge or more bullish one Double Bottom, we'll have to see how pullback goes. Right now too early to say.Mongoose wrote:Cobra, Your call this morning and from yesterday close the market looks overbought is spot on, at least at this time of writing. Not getting unnerved with some of the intraday highs would have proved extremely profitable shorting.
I see light volume, and some volatility indexes rising, albeit on low volume - which suggests to me the market is waiting and adjusting.
Assuming one of two outcomes tomorrow: the market closes up (strong), or closes down (weak), what do the patterns say today?
In other words, does today point to either a bear flag or a rising wedge (?) ?
Or, all things being equal, what is most likely to be expressed based solely on todays data, should hypothetically one of the two events occur?
I apologize, if I am not even asking the question correctly. Thanks.
Short it all ! Heck, short yourself, short me , short your family, short everything!
Well-done sir.uempel wrote:A last chart, then I'm off. I'll exit at about 1209 or 1210, don't want to be caught in a bear-trap...
I missed this reply yesterday. Thanks.Cobra wrote:I just give day signal which is the day before and yesterday confirmed the entry. You have to decide the exact entry intraday when every time such a signal is given.pady wrote:Hi Cobra,
Do you update the board when the impulse system gives a signal during the trading day ? How does one get the signal themselves ?
Thanks
gd