Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
newt (basic) April 26th, 2012 at 7:58 am
SKX: I love it.I Did the BCS you suggested- Oct 11/15. Thanks. Advice for max returns? Also /NQ was great yesterday- thanks. And so was FAS play. I appreciate the tutelage.
yodi (premium) April 26th, 2012 at 9:52 am
Phil XLF on two vertical plays set up in Nov 11 11/15 Jan13 and 10/13 jan13 doing very well I hold the Jan 10p sold for 1.28 now .20 and the Jan 13 12p sold for 1.89 now .40 thinking of rolling these to Jan14 12p what you think
morxlntway (premium) April 26th, 2012 at 11:37 am
Phil – my TNA may 56/61 is showing a bit of a profit! Glad i did nothing (at the moment)
rperi (basic) April 26th, 2012 at 12:03 pm
They certainly don't disappoint on earnings. AKAM is probably the reason I found PSW in the first place. Pre-PSW I made a poor decision and bought the stock at $47.50, and after they tumbled to their 52 week low of $18.25 after consecutive poor reports, and without having made a move to get out, I decided to learn about options to offset some of my losses. After a few trips to SA I found Phil and looked forward to reading his posts each posts. When they had their fallout I came over and signed up. Anyway, back then I learned that I could sell a Jan 13 call and 2 puts at $30 strike for $15.24 and with any luck get out about even. So $30 would do me just fine.
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
I know it confuses people that we make picks in both directions so that we make money no matter which way the market goes - that's why we have an educational site. Trying to figure out what we're doing by just reading the morning post, which is not even 1/4 of what I write in a day is not a good plan.
As to the S&P 3 Cheese - As I noted above, we decided AAPL was adding 5 points to the S&P so we raised our bar from 1,384 to 1,389 and the S&P did finish above it. As I noted in the morning post, our lines to flip more bullish are Dow 13,000, S&P 1,389 with the adjustment, Nas 3,075, NYSE 8,050 and Russell 815. Usually we're good with 3 of 5 over but we didn't pull the trigger on more bull plays as the S&P and the NYSE are right on the line and the Nas has a long way to go - unless they have another day like today but, then again, AAPL is adding 30 points to the Nas too!
Another factor we didn't like was that it was a low-volume day and the Dollar was weak, which boosted stocks and commodities. So, on the whole, we'll see what happens tomorrow but, as you can see from the above comments - we still have our bullish spreads and we simply added more bearish bets at what we expected to be the top of the range.
If we're wrong, we'll just add more bullish trades and either take our losses on the short side or roll them up until we establish a new range - as noted by the aptly named baboon - either way we have a good chance of winning.
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
Well I did try to be nice and commented at 10:43 (right above here) that we did follow through with our plan and added bearish bets. At the time the S&P was at 1,387 and it did finish the day at 1,390 so I guess I better pack it an and never play the markets again.
Meanwhile, since you love a good commercial - here are a few comments from today's Member Chat relating to trades we selected:
japarikh (basic) April 25th, 2012 at 9:27 am
Phil,
I bought 5 May 600 AAPL calls for $11 yesterday. I’m going to sell into the excitement this AM. This is an example of my investing maturation thanks to you.
kurtww (basic) April 25th, 2012 at 9:36 am
Phil – I took the weekly 575/May 590 play in my paper account. I closed it just now for a nice $9k profit on 10 contracts. I was worried about it too, but clearly your theory held up! Stjean – your 510/635 sold strangle is also up nicely. That one would have been a lot less stress-inducing in real life, but not as profitable. The essence of trading right there, I guess.
newt (basic) April 25th, 2012 at 9:38 am
FAS May 105 calls are up nicely- thanks.
iTrade (premium) April 25th, 2012 at 9:40 am
Long Put Portfolio suggestion for BIDU paid off nicely! Thanks PHIL
kurtww (basic) April 25th, 2012 at 10:38 am
stjean – actually I took the trade you mentioned the day before yesterday (510/635 strangle sold for $4.30), same day Phil mentioned the 575/590 play. I closed yours for a net $1500 on 5 contracts at 9:41. Very nice.
stjeanluc (premium) April 25th, 2012 at 11:41 am
IWM Money / Phil – We bought back to short IWM calls yesterday and those would have moved against us today so it makes sense that we are up more than we should if we had the BCS. The long IWM calls are up $700 for the day!
txchili (premium) April 25th, 2012 at 1:29 pm
IWM long put rebuy – I did some of the March put list, one was IWM Aug 76 bought 3/19 for 2.55 and cashed on the dip for 45%. TYVM. Now looking to rebuy, but I don't see IWM regaining 83 as they seem to be making H&S right shoulder now, so am thinking of buying some Aug Ps again. Do you like the 77s @ $3.05 or the 76s @ 2.76 or some other strike. Thanks again
wappler (basic) April 25th, 2012 at 2:12 pm
Phil/BWLD, I've followed your BWLD earnings play and took the winnings off the table this morning, thank you very much! Having said that, the stock is now back up almost 9%? What would be your suggestion for a reload of the short position? TIA!
lunar (premium) April 25th, 2012 at 3:18 pm | (Unlocked) | Permalink | edit | lockIgnore this user
phil, stj are we keeping the qqq june 60/63 bcs open? They are already up over 20%. TIA
Hmm, not sure how to respond to that as I do have a serious moral issue with all this but it's my "job" to figure out how to make money, no matter what is happening. It's also my job to point out what's really going on in the markets, where I do get to exercise my moral outrage at the system that, yes, I do participate in.
Do we compare this to a situation where the whole town is looting the Best Buy and I have to decide whether to go inside the store and buy a TV for $500 or stand outside and buy the same TV for $50 from one of the looters? Do I have the right to criticize the looters while benefiting from the looting?
Or am I simply taking advantage of an obvious catastrophe like the Baltimore Orioles and simply making sensible bets that they are likely to lose, which I can profit from without "hurting" the team and I do still have the right of any fan to criticize the incompetence or am I not allowed to because I bet against them?
Governments are like that too. Can you criticize Obama while earning a living in America? Can you want the system to change from the inside while still playing by the current system's rule or do you make a more effective statement by refusing to participate and attempting to tear it down from without?
I don't think you have to "agree" with the bulls in order to bet that the bull will run towards red but I certainly see your point but I think it would be a lot more fake to pretend I agreed with bullish investors, just because we know how to take advantage of their trading patterns...
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
SKX: I love it.I Did the BCS you suggested- Oct 11/15. Thanks. Advice for max returns?
Also /NQ was great yesterday- thanks. And so was FAS play. I appreciate the tutelage.
yodi (premium) April 26th, 2012 at 9:52 am
Phil XLF on two vertical plays set up in Nov 11 11/15 Jan13 and 10/13 jan13 doing very well I hold the Jan 10p sold for 1.28 now .20 and the Jan 13 12p sold for 1.89 now .40 thinking of rolling these to Jan14 12p what you think
morxlntway (premium) April 26th, 2012 at 11:37 am
Phil – my TNA may 56/61 is showing a bit of a profit! Glad i did nothing (at the moment)
rperi (basic) April 26th, 2012 at 12:03 pm
They certainly don't disappoint on earnings. AKAM is probably the reason I found PSW in the first place. Pre-PSW I made a poor decision and bought the stock at $47.50, and after they tumbled to their 52 week low of $18.25 after consecutive poor reports, and without having made a move to get out, I decided to learn about options to offset some of my losses. After a few trips to SA I found Phil and looked forward to reading his posts each posts. When they had their fallout I came over and signed up. Anyway, back then I learned that I could sell a Jan 13 call and 2 puts at $30 strike for $15.24 and with any luck get out about even. So $30 would do me just fine.
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
As to the S&P 3 Cheese - As I noted above, we decided AAPL was adding 5 points to the S&P so we raised our bar from 1,384 to 1,389 and the S&P did finish above it. As I noted in the morning post, our lines to flip more bullish are Dow 13,000, S&P 1,389 with the adjustment, Nas 3,075, NYSE 8,050 and Russell 815. Usually we're good with 3 of 5 over but we didn't pull the trigger on more bull plays as the S&P and the NYSE are right on the line and the Nas has a long way to go - unless they have another day like today but, then again, AAPL is adding 30 points to the Nas too!
Another factor we didn't like was that it was a low-volume day and the Dollar was weak, which boosted stocks and commodities. So, on the whole, we'll see what happens tomorrow but, as you can see from the above comments - we still have our bullish spreads and we simply added more bearish bets at what we expected to be the top of the range.
If we're wrong, we'll just add more bullish trades and either take our losses on the short side or roll them up until we establish a new range - as noted by the aptly named baboon - either way we have a good chance of winning.
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
Meanwhile, since you love a good commercial - here are a few comments from today's Member Chat relating to trades we selected:
japarikh (basic) April 25th, 2012 at 9:27 am
Phil,
I bought 5 May 600 AAPL calls for $11 yesterday. I’m going to sell into the excitement this AM. This is an example of my investing maturation thanks to you.
kurtww (basic) April 25th, 2012 at 9:36 am
Phil – I took the weekly 575/May 590 play in my paper account. I closed it just now for a nice $9k profit on 10 contracts. I was worried about it too, but clearly your theory held up! Stjean – your 510/635 sold strangle is also up nicely. That one would have been a lot less stress-inducing in real life, but not as profitable. The essence of trading right there, I guess.
newt (basic) April 25th, 2012 at 9:38 am
FAS May 105 calls are up nicely- thanks.
iTrade (premium) April 25th, 2012 at 9:40 am
Long Put Portfolio suggestion for BIDU paid off nicely! Thanks PHIL
kurtww (basic) April 25th, 2012 at 10:38 am
stjean – actually I took the trade you mentioned the day before yesterday (510/635 strangle sold for $4.30), same day Phil mentioned the 575/590 play. I closed yours for a net $1500 on 5 contracts at 9:41. Very nice.
stjeanluc (premium) April 25th, 2012 at 11:41 am
IWM Money / Phil – We bought back to short IWM calls yesterday and those would have moved against us today so it makes sense that we are up more than we should if we had the BCS. The long IWM calls are up $700 for the day!
txchili (premium) April 25th, 2012 at 1:29 pm
IWM long put rebuy – I did some of the March put list, one was IWM Aug 76 bought 3/19 for 2.55 and cashed on the dip for 45%. TYVM. Now looking to rebuy, but I don't see IWM regaining 83 as they seem to be making H&S right shoulder now, so am thinking of buying some Aug Ps again. Do you like the 77s @ $3.05 or the 76s @ 2.76 or some other strike. Thanks again
wappler (basic) April 25th, 2012 at 2:12 pm
Phil/BWLD,
I've followed your BWLD earnings play and took the winnings off the table this morning, thank you very much! Having said that, the stock is now back up almost 9%? What would be your suggestion for a reload of the short position? TIA!
lunar (premium)
April 25th, 2012 at 3:18 pm | (Unlocked) | Permalink | edit | lockIgnore this user
phil, stj
are we keeping the qqq june 60/63 bcs open? They are already up over 20%. TIA
Whipsaw Wednesday: Apple Today Keeps The Fed At Bay [View article]
Wild Weekly Wrap Up: Cash Is King [View article]
Thanks, Jim!
Wild Weekly Wrap Up: Cash Is King [View article]
Do we compare this to a situation where the whole town is looting the Best Buy and I have to decide whether to go inside the store and buy a TV for $500 or stand outside and buy the same TV for $50 from one of the looters? Do I have the right to criticize the looters while benefiting from the looting?
Or am I simply taking advantage of an obvious catastrophe like the Baltimore Orioles and simply making sensible bets that they are likely to lose, which I can profit from without "hurting" the team and I do still have the right of any fan to criticize the incompetence or am I not allowed to because I bet against them?
Governments are like that too. Can you criticize Obama while earning a living in America? Can you want the system to change from the inside while still playing by the current system's rule or do you make a more effective statement by refusing to participate and attempting to tear it down from without?
I don't think you have to "agree" with the bulls in order to bet that the bull will run towards red but I certainly see your point but I think it would be a lot more fake to pretend I agreed with bullish investors, just because we know how to take advantage of their trading patterns...
Great topic for debate!