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21 comments:
RIMM....
I put and order in a couple of days ago trying to shave it and didn't get it!! Now it has gone down $5. I'm not feeling very pleased. **Smiles**
I have entered a RIMM trade, as well as a PETM. THe PETM has filled. RIMM still pending.
Nice blog, Juan Sarmiento. There's an interesting site about daytrade at daytrade.
Juan,
Well for good or bad got in three positions just before the close;
BRCM
+2 Feb06 $47.5 Call
-1 Dec05 $47.5 Call
@$5.90
PETM
+2 Apr06 $25 Put
-1 Dec05 $25 Put
@$3.35
RIMM
+2 Mar06 $55 Put
-1 Dec05 $55 Put
@$5.80
Did you get into what you wanted in the end. I just got on the computer 10 minutes before the close, having just been briefly on at Eastern Standard Lunch Time. **Smiles**
So it was a bit of a rush deciding what to do.
Like the video presentations. It breaks up a bit at times, but it comes across alright here in the UK. **Smiles** I take it is your new presentation style.
In the last week, we have missed AMLN run up, the drop in GGC for another re-entry. Anyway, looks interesting.
Best Wishes and keep up the good work.
I hope I get approved using the Blog Owner approval system. **Smiles**
I have gotten filled on PETM and RIMM. Sorry to say with poor timing. However, I am convinced that I have to have bearish trades in my account, if only to compendate for the bullish trades QCOM and BRCM. One more bullish trade and my account should be in balance.
Details will follow.
Juan,
I agree with the timing component.
DELL is going sideways and slightly up. I bought a CRC and must have got out on the low and it has climbed up ever since! **Smiles**
What I am reading here is that it is about to hot the trend line coming down. This COULD be the moment. +DI(14) has crossed up above -DI(14), ADX falling to suggest a trend change.
Using the high in July 2005 and low in November 2005, a 38.2% retracement would be at $33.80, with a 50% retracement at $35.42
Currently at $30.38, which is a 38.2% retracement from the drop between the 30th Oct 2005 and 1st Nov 2005.
I had a long-term dragonfly on DELL due to expire in January which I converted today.
My RET reading on DELL is bullish, long-term, and I DO believe it made a bottom here.
Juan: If I were to enter a bear trade on RIMM or PETM would a CRC with puts be okay? Have you posted the trades you entered on these so I can copy? Well, only if it's CRC, since that's about all I understand.
My AAPL and AMZN looked okay today but AMZN closed badly. Annoying stock!
Juan: Some problem with posting? I'll try one more time...
I like the idea of going into a bear trade on PETM or RIMM. Do you think I can do that with CRC? Have you posted your trade for copy/study?
Loved the highs today on AAPL and AMZN but worried about AMZN's close.
accountholder, "CRC" stands for "CALL ratio calendar". So what you want to place is a PRC or a "Put Ratio Calendar". The trades I entered on RIMM and PETM are PRC's. look at my next blog.
What you can do with AMZN is to sell more front month options. This is a way to take profits in case the pull back is too much. It looks like the oscillators are giving sell signals. The Bollinger bands look strong still. The Candlestick is a Harami, which is a potential reversal candle. It requires confirmation in the form of a lower closing tomorrow.
http://stockcharts.com/def/servlet/SC.web?c=AMZN,uu%5Bw,a%5Ddaclyyay%5Bdb%5D%5Bpd20,2!b50!f%5D%5Bvc60%5D%5BiUah12,26,9!Lp14,3,3%5D&pref=G
AAPL is hitting the top Bollinger band, however, the beand are chanelling upwards, which is our indication that AAPL is still in rally mode. I would not change a thing.
http://stockcharts.com/def/servlet/SC.web?c=AAPL,uu%5Bw,a%5Ddaclyyay%5Bdb%5D%5Bpd20,2!b50!f%5D%5Bvc60%5D%5BiUah12,26,9!Lp14,3,3%5D&pref=G
I have started a verification process, to reduce spam. Tell me if it is annoying in any way.
Is there trading today?
Have the markets closed early?
My IB account shows everything has closed. Is it just a morning only trading day?
fortitude: Trading is closed on Thanksgiving Day and closes early tomorrow, Friday, at 1PM EST also because of Thanksgiving.
Juan: Can you remove posts after they are posted? You could zap the spam, then. The verification process is a little annoying, but it's a small adjustment if you like it.
Yes, agree not to change anything on the AAPL CRC. If you think a PRC is okay on RIMM or PETM I will try it but unfortunately won't be near the market tomorrow so it will have to wait till Monday and maybe that will no longer be a good entry. Let's see how things close Friday.
On AMZN, annoying because my shorts are costing me more than my longs are gaining, even though the stock did quite well. Somehow it seems my late entering on the shorts gave them a bad position for me. I may have to wait out the decline or just close it without the nice profit I should have had if I'd played it more expertly. I understand about selling more shorts but this is a 45 strike, so I'm not sure that will work out well for me in the end. They'd probably end up in the money and my spread is Dec-Jan so this posiition needs to be resolved in three weeks or so.
Hey Juan Sarmiento. Nice blog. You may want to check out stock day trading. It's got lots of info on stock day trading.
I ENTERED A PRC ON RIMM near the close of the market today when I got back home. I bought the March 65 puts and sold the December 65's in a two to one ratio.
Hi Account holder,
RIMM: this is my position as well. You must have gotten in much cheaper than I. Sometimes a little patience pais off.
AAPL: My position looks very nice here. The question is when to get out. I pressume traders will hold their breaths until January, starting at $72-75. Then, the earnings will probably cause a correction, even if the expectations are met. I will describe my AAPL TA and position in a video shortly.
accountholder,
RE: "fortitude: Trading is closed on Thanksgiving Day and closes early tomorrow, Friday, at 1PM EST also because of Thanksgiving."
Thanks for the info. Living here in the UK we have different public holidays. I wish we had 'Thanksgiving' here. **Smiles**
So all systems go RIMM... **Smiles**
Fortitude: I'd love to be in the UK! Lucky you! Are you still in AMZN? Was it you who took the 40 strikes after the earnings report, too? My position at the moment looks rather murky, :)
Juan: The wild card here is the stock split. In February AAPL split at around $80. With the stock near 80 now, we have a reasonable chance of making it to 80 or higher by end December. If so, an announcement of a stock split could bring the stock higher, even though we know it doesn't add real value to the shares. The perception is it does, people find it easier to buy it and the stock tends to do well around that time. Last time it seems to have moved roughly ten points quickly during that month (five points or so post split?). I'll be interested to hear what you think and what your charting shows.
On RIMM, I emailed my pricing to you. Let me know how it looks. Glad to hear we got the same position. I'm not so sure I got a better price than you, though!
Nice blog, Juan Sarmiento. There's an interesting site about daytrading at daytrading.
accountholder,
RE: "Fortitude: I'd love to be in the UK! Lucky you! Are you still in AMZN? Was it you who took the 40 strikes after the earnings report, too? My position at the moment looks rather murky, :)"
Yes, but I got out after a week before the full recovery!! I lost my nerve in fact. But you learn. What I sould have done was exited like Juan and wait for the 50% retracement and re-entered the trade. But in the heat of trading I made a mistake. **Smiles**
I like the United States. You have so much space...
I have a large book by McMillan here somewhee, but I don't have time to read it; won't for some time. I will try to find it and find the Greeks section and yes, I will talk to OX about how to find the Greeks there.
If you look at the chart for AAPL, you'll see since 50, it would go up to new highs, go sideways or slightly down a while and then go up strongly to a new high. This has happened four times or so and depending on today's close we could be starting another sideways action. But if we close well within the BB maybe we can avoid that sideways action a little while longer and not be tied down to this particular range.
I think that was an excellent move to take some money off the table by rolling some of your calls up from 60 to 70. I probably should have done something today, but was sitting on my hands too long. :)
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