Stocks Daily Discussion

[pftq]

Out of SPY next week calls at $1.5
Might go for a straddle on SPY options the few minutes before Bernanke speaks... haven't decided yet.

[pftq]

Looks like my own program beat me here (it just held long this week).
Bernanke saying there's still no QE3 had almost no effect.
Markets went right back to technicals after his speech (no more pending event, for now).

[wd1040]

haha whatever the case, the focus is now back on europe

[pftq]

Interesting dip across the board just now, back to lower end of today's range (which is also about the entire week's range).

Picked up a few 141x SPY calls expiring today at $.25 to see if we might bounce back to the upper range again, not risking anymore than half of today's gains from selling next week's calls.

[pftq]

Some trendline breaks off my program today, not many but worth a watch (or trade, but watch the close first as always):

[pftq]

Ended up flipping SPY 141x calls (expiring today) from $.20-25 to $.40.  Gotta love the end-of-day buying coming in.  Reminded me very much of last year's volatility

Also picked up SLV Sept. 30x calls at $1.20, now at $1.30.

[wd1040]

haha looking at silver upside too. However, gold has cleared right to the next fib today... have a short in... targeting 1660 for half the position, 1620 for the rest.

[metrolist]

RSI 2 and Trentline have differ results for SLV, BRF, and EWG.   RSI2 had no indicator to buy or short. 

 

 

 

[pftq]

RSI2 and Trendlines are complementary strategies. They almost never signal at the same time.

[pftq]

Out of SLV calls at $1.55 (+29%).

[pftq]

Watching AAPL today to see how strong this bounce is:


Going to be in classrooms with poor reception all day though, so probably no trading until tomorrow morning.

[pftq]

http://finance.yahoo.com/news/ecb-agrees-bond-buying-plan-124538395.html
Now I know why my program refused to do anything but hold long the past couple weeks.  Another win for the program since I'm already out of SPY calls.  SPY is already up $1 in pre-market.  Bah

[alice]

yup. still dont understand this stuff. I give up.

[pftq]

GS and CMA just broke upper resist on my program.  My program doesn't buy until close, but I will try to time an entry before then (we'll see how well I can time on a phone during class >.< )

[pftq]

Managed to grab GS weeklies at .15, already at .25 now. Couldn't fill my whole order quickly enough though.