Pick #4: IR sept 40 calls @.30
This post is for Sept 6 Wednesday.
This is a very speculative play as we only have 8 days left before expiration. Each passing day will nail us because of time decay. I would like to see the stock trade above Tuesday's high before buying, if i were you. I used my profits in TIE to purchase these calls. So i am less worried.
That being said, i think the stock should see $40 by early next week if the markets don't kill us first.
Long the stock is a much safer play.
This is a very speculative play as we only have 8 days left before expiration. Each passing day will nail us because of time decay. I would like to see the stock trade above Tuesday's high before buying, if i were you. I used my profits in TIE to purchase these calls. So i am less worried.
That being said, i think the stock should see $40 by early next week if the markets don't kill us first.
Long the stock is a much safer play.
posted by beanie11111 | 11:25 PM
10 Comments:
'AAPL and AMZN to Unveil Movie Downloads'
That should set the stage for a rally tomorrow on both stocks.
If you can buy the stocks premarket, do it! (As long as it doesn't run up too high)
Always remember to play small when buying options. For instance, if you have a $10,000 portfolio, play no more than $500 per position.
buy stocks this morning! (And sell if we get a new low after 30 minutes)
c'mon people, it's too late to sell this morning. It was a great time to buy. Sell only if it looks like we gonna be down big all day.
hold steady... too soon in the trading day for the market to drop this much. There should be a bounce later.
Pick#5: ITKG
Tobin Smith has been pumping this stock for 2 weeks now, calling it his next 10-bagger. The company makes plastic that has metal properties such as conduction.
Longer term hold.
Just keep on buying more on dips. Because when Toby pumps he pumps like no other. Remember NEOM (his 15 bagger)?
wow, Suri Cruise is a beautiful baby. Booyah for the Cruises!
hey bdgee, nice to see you too!
Options trading:
A good site to go to learn about options is www.optionetics.com
I am not too big on options trading. In fact, i never bothered to try to master options trading. Most times i just use it to hedge my long positions when i feel the market is due for a correction. I also use options for speculative little (all or nothing) plays like i did recently with DVN, TIE, IR. It is best though to use options near support and resistance areas on the charts, and when the market is near a major reversal (like now! bear bear bear!).
Beanie
Wow, today's selloff was brutal. Take a look at this chart: http://stockcharts.com/gallery/?spy
It indicates the market is at a reversal point, to the downside. Looks like it came a few days sooner than i would have hoped. The big boys let the excited buyers bid up the market for the last 2-3 weeks and now they're comin in to smack crackle and pop the market.
You need to be careful with your long positions.
If the SPY looks like it will go below 130 tomorrow, i will buy sept 130 puts or sept 131 puts.
This is NOT the time to go long on anything. You either stay out or you short. I feel a big train wreck is coming this sept and oct, historically known to be trainwreck months.
I am still very long on EBAY, protected by put options. Frankly, i hope EBAY would trade weak so i can sell the stock and let the put options do their work. We'll see.
The IR calls and TIE calls, if you hadn't gotten out today, you either have to get out with a loss or hope and pray something good happens next week. I personally still hold them. I will likely add a larger amount of SPY puts tomorrow, and turn the options loss into gains.
See you tomorrow.
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