07/20/2011 Intraday Watering

[cougar]

Hi Everyone,

My first post on the blog although I have been reading the blog for quite a while. I have been a part of many other communities in the past but I think this is the best one so far, people here are genuinely encouraging.

Coming to the "BTW", I am in a deep hole with GOOG and need some help. I would like to know what you think of GOOG in short term (I hold quite a lot of Aug 15 calls in loss, I was hoping this to be a breakaway gap but now I am concerned if it could be an exhaustion gap and might get filled before Aug 15). Any help would be much appreciated.

Thanks,
J

Welcome aboard!

As for GOOG, I don't see anything yet, so don't know, may someone else knows something?

Thanks Cobra, I don't see a breakdown either but there is a lot of PUT buying going on today...not sure whats going on.

JA: R U sure of the GOOG Exp date Aug 15?
Which strike?
Now, simple TA: after completing a 100% extension…GOOG needs a rest. Next step up, on my scale is too far up (639).
No advise on what to do…

[99er]

RUT
Target 787.
http://99ercharts.blogspot.com/2011/07/rut_20.html

[JJS612]

Just a simple visual of how the charts do not correlate today.

[Cobra]

maintain the target.

[Dow Trader]

warning for shorts, they are trying again but if this breaks, expect a surprise

[Cobra]

warning for shorts, they are trying again but if this breaks, expect a surprise

looks like a breakout on the upside is more likely.

[KENA]

Not a good mkt for trading.At least not for me anyway..Can't find a good buy point to get in with somewhat of a fair risk/reward,Mkt to narrow.But lets wait and see.Past time for workout so got to go for awhile.

[Dow Trader]

Dow also

[JackA]

Hi Everyone,

My first post on the blog although I have been reading the blog for quite a while. I have been a part of many other communities in the past but I think this is the best one so far, people here are genuinely encouraging.

Coming to the "BTW", I am in a deep hole with GOOG and need some help. I would like to know what you think of GOOG in short term (I hold quite a lot of Aug 15 calls in loss, I was hoping this to be a breakaway gap but now I am concerned if it could be an exhaustion gap and might get filled before Aug 15). Any help would be much appreciated.

Thanks,
J

Welcome aboard!

As for GOOG, I don't see anything yet, so don't know, may someone else knows something?

Thanks Cobra, I don't see a breakdown either but there is a lot of PUT buying going on today...not sure whats going on.

JA: R U sure of the GOOG Exp date Aug 15?
Which strike?
Now, simple TA: after completing a 100% extension…GOOG needs a rest. Next step up, on my scale is too far up (639).
No advise on what to do…

Thanks Cougar, they are Aug 19 590 calls..
I guess I should have waited until end of this week before loading up yesterday.

[Dow Trader]

warning for shorts, they are trying again but if this breaks, expect a surprise

looks like a breakout on the upside is more likely.

because it is above 141.55, I think highly possible, and the tight range in a couple of hours fits so far the handle of the cup, but as you always say " lets wait and see "

[BullBear52x]

I clean out my shorts etf, dont like this action. taking a break now.

[Dow Trader]

notice the setup in the circle, a couple of candles with long tails infavour of the trend inside the cloud which means the odds are very high to see a green candle with full body above this setup

[PRI]

Hi Everyone,

My first post on the blog although I have been reading the blog for quite a while. I have been a part of many other communities in the past but I think this is the best one so far, people here are genuinely encouraging.

Coming to the "BTW", I am in a deep hole with GOOG and need some help. I would like to know what you think of GOOG in short term (I hold quite a lot of Aug 15 calls in loss, I was hoping this to be a breakaway gap but now I am concerned if it could be an exhaustion gap and might get filled before Aug 15). Any help would be much appreciated.

Thanks,
J

Welcome aboard!

As for GOOG, I don't see anything yet, so don't know, may someone else knows something?

Thanks Cobra, I don't see a breakdown either but there is a lot of PUT buying going on today...not sure whats going on.

JA: R U sure of the GOOG Exp date Aug 15?
Which strike?
Now, simple TA: after completing a 100% extension…GOOG needs a rest. Next step up, on my scale is too far up (639).
No advise on what to do…

Hi, and Welcome,
I just read your post and figured I would offer this caveat when dealing with options as I am a former CBOE MM: They are not an investment, when purchased outright (not as part of a hedge) take your profit (or loss) and move on to the next thing. Time and volatility premium will quickly erode from out of the money options.
Good Luck

[ballatines]

little boring market ...

off topic question ... i am using IB/ Ninja and would like have your recommendation on charting software ... how can i get tradestation or any good charting software besides ninja?

[Tabby]

BB52X,
Are you still here?
What do you think about ZSL? it looks like going for another round. 3 of my indicators going up on 1 min chart. any comments? I don't have a crystal ball or bowel

[99er]

Honey?
SPX http://99ercharts.blogspot.com/2011/07/spx_8614.html
Ankle strapped?

[cougar]

WYNN update…to counteract boredom:
2 green dots on the 30 min MacdBB and RSI up.
LOD so far was 157.68, close enough to the previously discussed 157.57.

[king1lou]

Hi Everyone,

My first post on the blog although I have been reading the blog for quite a while. I have been a part of many other communities in the past but I think this is the best one so far, people here are genuinely encouraging.

Coming to the "BTW", I am in a deep hole with GOOG and need some help. I would like to know what you think of GOOG in short term (I hold quite a lot of Aug 15 calls in loss, I was hoping this to be a breakaway gap but now I am concerned if it could be an exhaustion gap and might get filled before Aug 15). Any help would be much appreciated.

Thanks,
J

Welcome aboard!

As for GOOG, I don't see anything yet, so don't know, may someone else knows something?

Thanks Cobra, I don't see a breakdown either but there is a lot of PUT buying going on today...not sure whats going on.

JA: R U sure of the GOOG Exp date Aug 15?
Which strike?
Now, simple TA: after completing a 100% extension…GOOG needs a rest. Next step up, on my scale is too far up (639).
No advise on what to do…

Thanks Cougar, they are Aug 19 590 calls..
I guess I should have waited until end of this week before loading up yesterday.

You could sell July 600 Calls weeklys @ 2.70 and create some theta til Friday

[JackA]

Hi, and Welcome,
I just read your post and figured I would offer this caveat when dealing with options as I am a former CBOE MM: They are not an investment, when purchased outright (not as part of a hedge) take your profit (or loss) and move on to the next thing. Time and volatility premium will quickly erode from out of the money options.
Good Luck

Thanks. Yes I agree..I sold Aug'11calls and moved them to DEC'11 one strike lower; Because I really dont know where the market is headed right now. Everyone seems to have a different opinion on if the correction is over or now.

[Cobra]

trend line. no idea if the pullback is over. lunch time, will be back.