Good Job TG, I wish I could have gotten in on my trade today. Looks like it would have taken a little while but anytime I am short and see a bearish flag form in the middle of the trade I know I can sit back and relax. I'll get my 2 points.
Okay, I was thinking that a bunch of buy programs would show up as a lot of selling at the bid, indicating "selling" on the MD, but really meaningless because it is hedged and not a directional bias.
Romik, Since you might not hear it from a lot of other people I will say that you made and held on to a good short here. I can't say for sure if this is going to be a reversal or not but I have been watching the strength of this rally decline even as price seems to be inching upwards. My opinion is that I would have liked it to move briskly up past 1345 in order to continue the rally and unless this is a slight pullback we didn't see that. If it did break 1345 then I could have seen it move up to 1360 fairly easily. Good job, Gary
awesome. thanks for answering. maybe i'll check you guys out on the other thread as well. i could certainly stand to learn a thing or two about options. i read a book on them, have traded them myself, but still don't consider myself very good at it, especially when it comes to the more exotic things like strangles and straddles. know my limitations, that's why i don't trade options too much. i'm better at calling market directions and hitting stocks just right on the buys and sells, so i mostly stick to what i'm good at - stocks! still sidelined, but it looks as though our prediction is coming true. btw, like your strategy on the q's calls and puts. right now i'm holding puts on dow....
Princessa, I made a mistake earlier on my option trade. My puts are at 39 and 37 on the Q's. They expire in October and my calls since they are new expire in December.
i don't know why the slow stochastic messed me up so bad today...can anyone help me on that...it was telling me to buy all afternoon....thanks
My turn to ask opinions. This appears to be a bearish wedge but the angle is extremely steep. What do you guys think about it?