08/03/2012 Live Update

[MrMiyagi]

Thanks mr miyagi for all your P-bar effort
I was just kidding with you about the FB

You're welcome and I was kidding right back

[usctrojan99]

There was a large last buy on SPY, but there was also a 20% larger last sell, a 3.71 million last sell.
748.5 K last sell on IWM.

Means nothing, there was a huge last sell block yesterday, and how did that turn out today?

[xfradnex]

Dr. Al is that a dome on Cobra's chart. Have a good weekend everyone.

YES
but i don't even believe my own eyes today
i only believe what the King Cobra tells me

ps doctor nice 2 have u here intraday, especially today we needed a doctor in 'da house GL bud

Dr Al. You the man. Have a good weekend.

[essessme]

The previous 2 price Ts were spot on (within one hourly bar). The current (strawberry) Price T projects the high to be Aug 7 1400 Eastern.
Being the third with two successful Ts immediately preceding raises the concern that it is now 'obvious'. Note a larger Price T off the April high is ending Today FWIW 2 charts below...

Seems the larger Price T (2 months down -> 2 months up) has hit the mark to end a triple ZZ wave B...nice weekend all

[xfradnex]

There was a large last buy on SPY, but there was also a 20% larger last sell, a 3.71 million last sell.
748.5 K last sell on IWM.

Means nothing, there was a huge last sell block yesterday, and how did that turn out today?

.
Thanks Petsamo, I like your reports. It good to know how the big guys are positioning themselves at the end of day. Today was mainly a news day. The sell could be a risk off trade (did not know which way the jobs report was going).

[agunther]

I'm using unsettled funds.

Get margin

The fact that I can't sell is not necessarily a bad thing. It may be much higher 3 days from now than a few hours after buying. I have margin on some accounts but I don't use it.

You don't have to use the margin and leverage the account, just gives you additional funds that are "settled" cash funds, so you you have more flexibility in selling when you want rather than waiting for funds to settle.....

Thanks, I know. I'm saying it sometimes might be better to sit on something for a few days, rather than selling right away.

Sometimes it isn't. I held Knight Capital

[gvg]

gvg,

One more note to options, I have noticed that barring huge gaps up or down, if you write a call or a put on monthly expiration day (3rd Friday of each month) on the next month, come Monday there is a nice price adjustment in your favor.
So for example if Friday August 17th you wrote a call for let's say AAPL September and on Monday August 20th the day went ho-hum with no huge up fluctuation, the time decay will hit it nicely like a new car from the lot.
Of course if on the Monday the price drops, then you're grinning like a fool!

Thanks for sharing your thoughts. Was out and just checking back in. Will follow up on Monday.