Friday Feb 15 it is

We have advanced the schedule of Yee's induced labor to Feb 15, because her OB said that she is 4cm dilated and baby Daniel's head is already 1cm below.

I guess it is time.

I have decided to spend this week as much time as possible with Markkus, this will be the final week for him to be the only precious son in our household.

Out of Gold run!

gold and silver group running tired today and I closed all my gold related trades, GOLD and ABX.

Next time I would stick with AEM, since it moves the fastest and hold on to the trend better.

Anyway, I looked at the chart of $XAU, it turns out that the industry group is forming a symmetric triangle, so I will wait for it to break before entering another trade in that group.

Sold 2/3 of KEX, broke even, did not like the price action today either.

Overall it is an up day. Finally a bounced on PRXL, as I planned in my head, I would entered my remaining 2/3 on the confirmed bounce. And it seems like BMRN from the bio-tech group is also enjoying some attention, so I entered a trade on it too.

All in all, I limit my loss on each trade to 1k, and watch all of them very closely. My goal at this point is to protect my capital. And one day I can trade with confidence.

Good Trading lives on

I sold half of GOLD today, want to take some profit off the table and once again felt so good when I have a large trading capital.

Entered ADM on the confirmed bounced today and CNI also but the volume is too thin so I got in just 1/3 of the usual size.

Here are the charts


CNI, got beaten down, old school, old technology.



















ADM, ethanol is the next bubble

Tickle feelings

If the whole idea of trading with the market and trading with the trend, is just following the market, and following the trend. When the stock that I am in does not move with the market as it has been, it is a warning sign.

Today it opened kind of low, but SLAB and CIEN both went up. So I closed them, not feeling too good, make them even again.











Stopped out today, at 30.89, funny it closes on that price too.














Closed today on CIEN too, did not like how it moves.






The gold rush is on again.













As for IRA, I got out from the SDS and TWM, and longed PRXL, KEX, GOLD and ABX

Big Bear day

Let's catch up on today's action, as I put the green line for the target and red line as the stop

CIEN, Bearish trade, it made almost half way to my target in one day.








SLAB, Bearish trade also, entered the trade at limit order on MAR 30P for $1.60 and it got filled right after lunch on a little bounce. Then it continued to fall.





couple of Ultra Short Index ETF's

SDS, Ultra Short for SPY


















TWM, Ultra Short for the IWM













I found an interesting blog, I like it because he does not have a bias, the type of trader/technician I like.
the ELLIOTT WAVE lives on

Suggested Options Trading Rules

Rules for buying PUTS

1. Down trending stocks in down trending industry groups
2. stocks that are just starting to break through support or are consistently trading below their 30-day MA
3. A declining MACD just as the stock reaches resistance and begins to drop
4. Weak Volume on rallies and increasing volume on down days
5. Stocks with poor Phase 2 scare

Steps for buying PUTS

1. Make sure the stock and industry are trending down
2. give yourself enough time to let the stock move lower
3. Pick a strike price that fits your risk tolerance
4. Plan an exit from a profitable trade
5. Plan an exit from a losing trade
6. Enter the trade
7. Monitor the Position
1. Watch the trade on a daily basis
2. look for signs of a bull market in the broader market
3. Watch for a change of trend in the stock or industry

Steps for buying CALLS

1. Define your market posture: decide if you're bullish or bearish
2. Pick a stock to play, use searches
3. Check the Chart, make sure the stock and industry are trending higher
4. Give yourself enough time before expiration
5. Pick a Strike Price
6. Plan your exit from a profitable trade
7. Plan your exit from a losing trade
8. Enter the trade
9. Monitor the Position
1. Check your position daily
2. Look for changes in trend
3. Watch for weakness in overall market
   

Steps for selling a Covered Call

1. Identify Optionable Stocks in Your Portfolio
2. What is the forecast? Analyze the stock for the short term before selling a covered call
3. Check the options Quote, Determine if the trade is viable by checking the prices of the options
4. Run the Numbers, use the covered call calculator
5. Sell the call
6. Monitor the Position, Watch the trade daily for changes in trend or market sentiment
7. Close Out the Trade, Exit the covered call trade in one of three ways, depending on your profitability in the position