MrHanky Posted February 3, 2003 Report Share Posted February 3, 2003 I see a morning pop as a great time to buy some qqq puts....they have been workin good with the volitility Link to comment Share on other sites More sharing options...
SkiddMarket Posted February 3, 2003 Report Share Posted February 3, 2003 TE: How appropriate. My theme song (along with every other ophthalmologist). Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 So Dam Insane's senior body guard defected and has given Israel the sites of hidden arms caches. (Drudge Radio) Link to comment Share on other sites More sharing options...
Short'em High Posted February 3, 2003 Report Share Posted February 3, 2003 Skidd, Â Thought I'd offer my two cents re: your post. Â Placing stops on options is a bit tricky because you have the variable premium to deal with. If one is trading with stops instead of hedges (short term longs to neutralize part or all of one's short/put position), then good stops are at important points of resistance or retracement (usually Fibonaci). On the big indices Doc is doing a wonderful job of highlighting specific targets. On other indices or specific stocks, we're on our own a bit, unless you are getting professional advice from someone. Â Now a quick look at the OEX tells me that around 440 is everything now. If for some unlikely reason it was to rally above say 445, then I would re-assess my position and probably stop out or hedge. Now the key is really in your entry price. Â Remember, A GOOD HIGH PROBABILITY ENTRY IS NEARLY EVERYTHING! For the OEX that appears to be above 439.57, the swing low from Dec. Anything above that looks good. Â I don't know if I'd be so quick to take profits by selling, but each investor/trader has to weigh their own risk tolerance. When you take a less desirable entry, then you expose yourself to undue psychological stress on the periodic rallies. The beauty of a sticking with a good entry and riding it for as long as you can, is that you can save yourself undue stress because of the low risk entry position. Then you can focus on the hedge points and/or cover points. Frequent trading will lead to whipsaws and you will develop a bad case of "squeeze fear". Â Take my words only under advisement. Remember I'm a rancher/lawman who's got a score to settle, so I'm a bit more orny towards the "deceivers from the East". I ain't fearin' a squeeze. I'm ready when they start the cattle runnin'. Got enough powder to fight back. Â As they say in StoolTown, trade safe. Â SEH Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 A guy who lives a couple houses down from me is a professor at a local university. He works with NASA and is a space shuttle safety expert. His take (I saw the story on local TV) is that the shuttle may have been over loaded and so did not slow sufficiently to keep friction heat at acceptable levels. The weight also may have thrown the attitude of the ship?s nose out of safe parameters. NASA has requested his assistance and he will submit a report. We also have a local company that makes parts for the space shuttle cargo doors. Link to comment Share on other sites More sharing options...
Drekula Posted February 3, 2003 Report Share Posted February 3, 2003 I think after Challenger in 1986 the market sold off and then rallied sharply (it's kind of hard to see on the long term charts). I may be very very wrong on this one, but I think they may be front-running the counter-rally in the futures tonight. Without getting into too much reverse psychology, the point is, that by definition it is impossible to have a counter rally without a prior sell-off. Of course, the spoos may be frontrunning a better than expected ISM number too... Link to comment Share on other sites More sharing options...
bubbadropping Posted February 3, 2003 Report Share Posted February 3, 2003 Wow, Doc really went to town with the weekend analysis. I didn't know that his Bear had come so far out of the closet that it appears to be a Giant Kodiak in pink pushup bra and matching crotchless panties. I mean Doc is saying that the entire Nazdog will be delisted and torched before this thing is over and the remaining larger companies will merely shift over to the Dow by 2008. Thats some heavyweight projection right there. Good to hear it Doc. Lay your cards on the table. No sense second guessing or hemming and hawing anymore. Come 2007 or so there will be vigilante parties in the streets of Menlo Park and sleepy little San Rafael looking for Larry Ellison. "No boys, he went this way!!! Come on, lets go get the cocksucker and string him up on dotcom Hill.!!!! Link to comment Share on other sites More sharing options...
SkiddMarket Posted February 3, 2003 Report Share Posted February 3, 2003 Thank you Short'em. I do appreciate you sharing your experience. Sweefraap- I heard that bodyguard info yesterday morning in a yahoo post. Since it hasn't hit the mainstream media in almost 2 days, I find it questionable. Â Along with everything else up, GOLD is spiking too. Guess that means HMY will only be down a half point at the open. Grab the champagne. Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 SPX 2 hr Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 SPX daily Link to comment Share on other sites More sharing options...
purdymouth Posted February 3, 2003 Report Share Posted February 3, 2003 I don't subscribe to the Anals (my loss, I know) and I agree with Doc on the Nazcrap's eventual shutdown. I started thinking about it back in Sept. when Germany shut down it's Neuer market... a supposed Nasdaq equivalent for Germany.  http://news.bbc.co.uk/2/hi/business/2283068.stm  Gone. Lights out. Heh heh... that was fun. See ya. Bye.  Can't happen here, right? Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 US$ w/reg. chan. Â Recently, every time fast stochs are this high $ drops. Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 3, 2003 Report Share Posted February 3, 2003 Don't laugh.  I've got a 415, a 420, a 425, a 440 and a 450.  Bought between 3 and 8 trading days ago.  I sold my 460 and 470 for a nice profit.  Before you chew my head off, I'm way up and playing with house money-Simple Guy and Doc and everyone here have been very very good to me  ) I just don't know where to put the stops.  The bid ask spread is massive on the options (sometimes $3-400), and I hate having to buy back in.  TE- where do YOU put the stops on your options?  Skidd,  Switch to OptionsXpress: they allow you to enter contingent options orders. i.e.- You don't have to set stops at a specific option price, you can set your stops based on the underlying stock or index price. For example, I mainly trade SPX puts/calls: I could set the stop loss on my puts to activate if the SPX breaks over 930. Then if the SPX breaks over 930, that activates my order, which I've set in advance to either sell at market or as a limit order.  There are other great features for order entry, and I absolutely recommend them if you're trading options and can't watch the market all day.  www.optionsxpress.com  (although I just realized it's possible I'm answering the wrong question, forgive me if I am ) Link to comment Share on other sites More sharing options...
Drano Posted February 3, 2003 Report Share Posted February 3, 2003 I really can't understand why some of you guys are not subscribers to the Anals. (I almost wrote "hte Anals" -- Doc's typing must be catching.) Â This isn't some big corporation running the website -- it's one guy. Websites cost money. Is it worth less than the price of a Starbucks per week to support the message boards, not to mention Doc's research which he shows in the Anals? Link to comment Share on other sites More sharing options...
sweefraapp Posted February 3, 2003 Report Share Posted February 3, 2003 some gold info Link to comment Share on other sites More sharing options...
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