These are the Days of Our Lives...
Friday, November 30, 2007 at 03:17PM You were probably thinking I might pull a no-show today. I couldn't do that...not with so many things to talk about today!
Truth is I was stacking chips in NVDA. At the end of the day, just remember who puts their readers in front of 5% declines during bullish rallies in the market.
I do. And yes, you are welcome.
By the way, if you are interested, check out my e-mini article at Forbes. Off topic, yes...but always on time.
So at the end of a great week, and a particularly good day in the market, you'd think I want to spend time talking about what worked, and what didn't like I normally do. Not. Truth be told, I want to address something else. Something that happens on and off around here that needs to be addressed (again). It seems there were some issues that occurred here today, and I want to offer up my perspectives and rules on how business should be handled on my blog. I am not pointing any fingers or trying to get involved, but here is an excerpt from my "About Me" tab...
"My objectives are fairly clear. They are...
- To share with the world an amazing track record in the financial markets. If I were not able to make huge strides in the market, this site wouldn't be very fun to read, would it?
- To teach the masses that anyone can become a successful trader. If you can apply the methods I teach, which are developing a consistent approach, picking good stocks, managing risk, diversifying your funds, and proper position sizing, you'll realize that trading is not as complicated as you thought.
- To harvest a community of profit oriented traders and give them the opportunity to share ideas with likeminded individuals.
In return for my documented processes of making money, and services to traders across the world, all I ask is...
- Respect your fellow traders, with only minor exceptions.
- Respect my authority, no exceptions.
- If you are going to contribute, please make sure you are a credible source. Since many readers are still young in their career, giving reckless contributions is more of a hindrance than a commodity."
Over the last few months, and specifically today, I've received many e-mails that comment on how it seems my blog is dominated by "personalities." Whether it be those that offer trade advice or not, for some reason this blog occasionally becomes a place for personalities to bloom. I can't moderate everything that is said, nor do I want to. Just remember that this is Option Addict, where the only personality I sponsor is mine.
I want everyone to feel like they can get involved on my blog. If you don't feel this way, I am telling you...you are welcome here! Don't let anyone influence that feeling other than myself. I respect the fact that everyone has an opinion, or insights to share and I do not want that to change in any way. Ask questions, leave comments, challenge ideas... but follow rule #1...Respect your fellow traders, with only minor exceptions.
After that, never forget rule #2.
I am not in the business of creating, endorsing, or permitting a dominating presence other than my own on this community. As for you (all of my readers), please respect the opinions of others and make sure that we do not attack, ignore, or criticize them. I appreciate the perspectives that offered here, and I want them to continue. That is the whole idea here!!! There are valuable contributions that take place here, and when combined with your own analysis can be very worthwhile. However, you should always be careful in whom you trust. While ideas are shared here everyday, always remember what to do with "tips." Besides, I cannot confirm or deny the reliability of resources here. However, I can acknowledge that I am the only one with a documented track record. I am not saying this to spite anyone, toot my own horn, or debate the success/failures that other traders have had. I am just cautioning you about listening to other people. You never know what is happening on the other side of that comment you are reading. At the end of the day, you need to look after yourself.
Rule #3 states...
"If you are going to contribute, please make sure you are a credible source. Since many readers are still young in their career, giving reckless contributions is more of a hindrance than a commodity."
I have requested that we try to keep comments on topic, to make sure that those that comment are knowledgeable/experienced/profitable, and have a reasonable amount of experience...but as you well know, how does one quantify this?
Bottom line: Remeber what my objectives are with this blog. Let's keep the ideas going, balance them against our own better judgement, and dammit... let's be friends!!!
I swear...each day feels like another episode in "Days of Our Lives." But that is ok. As always, we come out ahead in the end. You guys rock, and let's enjoy a good weekend!







Reader Comments (80)
I officially feel welcome again. Thank you...
EB and Brett, I respect both of you and am truly glad that you worked out your differences. Thank you guys for being you!
JK-
Thanks for your comments...I had to avoid the blog today in order to focus on trading. Sad, I've been enjoying this community before today. Here's to a new week and month!
Have a good weekend...looking forward to getting your list of gems for next week!!!
Jeff,
As always,,another great post,,thanks for all you do!
Jeff,
Thanks.
I have been one of those traders/losers for many years. My last month has been like my first 10 years. I do not know what changed. I feel that my rules are violated daily. I do not have all day to watch and wait for trades. I only have a few moments during which I can truly focus on THE task at hand. Your watchlists are great but by the time I get to it it is if the trade has left me and I ty to catch the tail end and all I have been getting is POOP. I really wish you and Eric were more of a regular commodity on THE CAST. I seem to do a lot better in my trades with vocal reinforcement rather than that of some text. In the previous 5 months leading up to this last month I tripled my trading account (about). I know I need to stick to my rules. Just had to get that out there.
God bless and have a great weekend.
Steve
Keep your head up Steve...and remember the core of what we used to teach day in and out. Those core concepts will keep you a float during these times.
BTW Everyone,
I didn't want to come off as rude, but every couple months this place needs to be hosed down and re focused. I'm hoping this post was able to point towards that.
Jeff/OAs,
You brought my portfolio back from being down 25% on the year to almost even in 1 week. For that, I thank you (although I have to thank TOS as well.. hell of a trading platform!)
Well said, jeff. You are absolutely right. I apologize for my prior violations.
As for nvda, in which i'm currently enjoying a position, guy adami talked about it on fast money tonight. But it was the last part that had me almost choke on my tic tacs: "plus I think intel will buy them"
God, I hope not anytime soon!
Well, I don't even know what to say.... Great post, as always. All valid points. There are definitely some strong personalities here, mine included, you just don't see it because I respect rule #3! I have only been trading for about a year and a half (the first 10 months I am choosing not to count since I pretty much traded with my head up my @$$--so I like to say it's only been since May), therefore I am very cautious with voicing my opinions and such--I personally don't feel I have proven (to myself, let alone anyone else) that I have enough success under my belt to do so. For now, I am acting as a sponge and learning as much as I can from the people that I know I can trust....
No getting around the strong personalities that I am sure will continue to shine through! No harm done, IMO, with the exchanges that took place today. There is some passion here--which is a huge part of what makes this blog so awesome!
Thanks again for all you do!
Oh, and you never come across as "rude". Direct. You tell it like it is. It's awesome. Don't change it!
"I apologize for my prior violations."
Well said, Brett. Me, too.
LisaG,
Agreed. If you don't feel ready to contribute, at least throw questions out there to soak up more. There are valuable resources out here!
Brett,
Great point. I am skeptical that this happens in the next couple weeks, which is the absolute longest I'd stay with this one. Next week will probably when I cut this one loose...with a double at least :)
PS- I'm glad things were ironed out today. Thanks for your help.
LisaG,
Thanks...that makes me feel better.
Not everyone can take it like it should be told.
NVDA - Fast Money tonight reported that the stock popped 4% for the week and Guy Adami thinks it's a possible take-over by Intel.
Is it a rummor or news? Now, which way will the stock go?
Jeff,
Your welcome. Honestly, I think that is one of the things that pulled me towards you--your direct approach, style and personality. I sat in several trading rooms last summer, all different instructors, and was never able to relate to any of their presentations as I could to yours. It's what makes you "you".
Jeff, Very well put. Thanks for all you do.
BTW, just read the e-mini article you wrote for Forbes. Great information--printed and filed in my JK binder for future reference. This is something I will attempt to learn and experiment with once I am successful enough to start trading full time.
Jeff,
That was another great article on trading futures. Every time I read it again a little more sinks in.
I have a general question for both you and Early Bird. I know you must both be pretty tired form this week/ month, but if you get a chance could you please comment on the following:
Over the last six weeks or so we have talked about how this is a different trading environment, about how we adjust our strategy to reflect volatility in the market. My question is what do you look at to decide when/ if to go back to the idea of letting profits run and such that we were doing prior to the October/ November decline. Is looking at the VIX the best way or are there other parameters to consider here.
Thank-you, Jeff, I have been waiting all day for this post.
And, you rude? Never.
Direct? Yes.
Welcoming? Absolutely.
Jeff - what they all said. Thank you for stepping in and 'hosing the place down". And thank you for telling it like it is. You are far from rude! Sometimes people need to be reminded whose blog this is and who is the Governor of our little Village.
There is room for every one of our different personalities here. There are so many new people that show up here daily, and that is a good thing, but having you come in and wave your bossy stick once in a while is sometimes necessary.
Jeff,
Thank you. :)
Arty comes out of the closet!
Early Bird,
I have been relatively quiet over all of this "garbage" that has been posted lately and I was "Concerned" over some of your posts as of late.
However in the amazing social grace that Jeff posses, he addressed many of my concerns marvelously.
As only Jeff can attest to, I have read and reviewed "EVERY" post on this blog since the beginning. I have not "been" here since the begining nor I have I read every line (since the change especially); but every post he has made and a most of the responses.
When you posted "I have been a part of this Blog since it began - yes from the beginning - just vocal until now." I was troubled.
Why was I troubled?
I do not know of you until recently. Seems as though many questions about trades are addressed to EB these days.
Were you Anon for the past several years, or under another name?
Just trying to source your credentials before discussing any further ideas.
The reason I am not posting a huge rant now or even earlier is I think I may have missed something here. Have I?
Please advise.
Cheers,
ARTY
Jeff, we're new to your blog and bottom-line, we consider you our 'experienced' and 'proven track record' leader. That's exactly how we see you "our leader"... We read the "comments" yet take them with a grain of salt not knowing how much experience any of these "personalities" have. Too many 'talking heads' muddy up the thought processes and the comments fall into a 'talking heads' category. We are successful with your approach and sticking to our rules. We thank you for sharing your knowledge with us and helping us make money. Have a fun-filled weekend and we'll be back with you on Monday. May next week bring us all many triumphant trades.
Funny, I don't feel like I've been "hosed", unless your talking about the market. NVDA has me feeling better about my wounds over the past few weeks.
Thanks everyone - keep it up. And Jeff, you still Rock!
Jim
Jeff,
I would like to second the Lockwoods sentiment. Thanks for your guidance through the blog. Really looking forward to Monday's watchlist.
This is a great blog. Win or lose on the setups are first class.
Everything looks normal in the comments section from what I've seen over the last 15 years. Human nature dictates this.
Jeff
One chief and the rest are indians. Amen to that.
I admire and appreciate all the hard work you've put into this blog. I was a long time lurker and have only recently contributed here on occasion. I've found the blog much more enjoyable when I actually take part in it.
However, there's no fun in being judged, badgered, and belittled by fellow indians. There is nothing constructive in that. It is exactly what kept me and still keeps many others on the sidelines. I can truly feel for those people, as I am also a more timid, type B personality.
Anyway, thanks again for everything you give here and have a great weekend.
Et Al,
First let me say I am sorry to Jeff and to the OA community for speaking my mind a little to loud over things that disturb me or that I think are important. I never intended to attack nor cause discomfort to anyone. Please accept my sincerest apologies if this applies to you.
I will be "flying" on and not participating in the blog any longer. My inherent desire to help people is also a potential problem for some - in order to prevent this it is best for me to not participate any longer.
I wish you all the absolute best and hope you achieve your wildest dreams soon. It is possible - stay focused and stay disciplined to what works for you. Flush the crap and do the basics day in day out. It all starts with the best foundation possible!
Again I am sorry for those that felt threatened or harmed - never my intention.
Jeff I thank you for the impact you had on my life and for helping to refocus and repackage my knowledge in a way that helped me to be who I am as a trader.
Merry Christmas and a very Prosperous New Trading Year to you all!!!
EB
Early Bird,
There has turmoil in the market lately and like it or not, emotions get in the way sometimes. That's what happened yesterday and now the crisis is over. Please do not walk away from this blog because of this. I appreciate your input and would you like to continue.
I really appreciate the watch lists and will chart each one to try to find the best. I have really learned alot and this week I was up 15%...best one this year!!! Am down 25% on the year, but am working to get back to even and then up from there. I have been reading this blog for 6 weeks now and it is starting to finally sink in. Thank You : ) >
EB,
I was one of those who felt "belittled" by your post. But that really doesn't matter, in my opinion. You said: "I never intended to attack nor cause discomfort to anyone. Please accept my sincerest apologies if this applies to you.": that's what matters now.
Perhaps sometimes I don't come across as a "serious" trader because I naturally enjoy laughing. But no one can see me watching my Success Magazine DVDs (yes, the old school ones) while I'm nursing at night. No one sees me highlighting Murphy's book, and then going back and actually taking notes on it in a notebook I bought especially for that purpose. No one sees me reading and re-reading the market wizards books, visiting and printing out articles from other trading blogs, and highlighting/taking notes on those. No one sees me reading and re-reading the Greatest Hits link and Blog Archives link. I could go on and on.
To paraphrase Erin Brokovich, trading is my work, my blood, my sweat, my tears, my sleepless nights and napless days, and my time away from my husband and kids.
I personally feel that the banter has been kept to a happy minimum, as I think that the comments section of this blog would be, in the words of another Addict with whom I spoke offline, "sterile." I got a kick out of Cassie's fowl joke, LisaG's description of her early trading days, Bob's hamster issues, Jorge's sandwich dilemma, somebody's elf analogy, Chris's country music, Laney's farting, etc... (Of course, if Jeff says that it's too much, we'll all stop immediately, no doubt about that.) But I understand that there may still be people out there who don't like even the level that things are at now. How can we please everyone? I've avoided commenting these past few days because I didn't want my head chewed off in front of everyone. But that's just me.
So I apologize to you if the "crap" you were referring to came out of my mouth! :)
Now, you get your butt back into gear and start contributing to this blog again, or you WILL be in time out! And I MEAN IT! You're part of the family.
Gosh, did I just slip into mommy mode?!?!
Happy trading, all! (BTW, is there an award for the longest post ever? Thongs, perhaps?)
:)
I just want to say thanks to all the OA's out there, obviously especially Jeff. This is the greatest website on the planet. I have been with investools since April, but have been lurking here for 3 months. I'm still trying to figure out my rules, so haven't posted yet, but just wanted to say thanks to all for their comments.
EB
Despite our differences, you are of great value to this community and your loss would be a shame. I too apologize and want you to know my intent was to make aware, not attack.
We have more in common than you realize and I urge you to reconsider your current stance of "flying". Losing family here is not in anyones' best interest.
EB,
I have been here for a short time ad despite that I have learned much...I once heard that whatever one chooses to do in life be the BEST at it and in order to be the BEST, one must LEARN from the BEST....I believe that I have found EXACTLY that here with Jeff and the OA's....I truly value the opinions of Jeff, your's and a few others here on this blog....I am a student with the thirst for knowledge and there are "teachers" here for whose knowledge I seek....please reconsider!!
Dan B
Jeff, et al: (that means all that addicts here!)
I re-ceived an IM from a blogger a little while ago while I was up in a tree (nope, not from Brett or Jeff but from one of you who I shall leave nameless, but I thank you). I was told of EB departing the nest, and decided that this blog and all here are more important to me than killing (which I love to do!!)
So here I am in the middle of my hunt posting because I am genuineley (that how you spell it??) upset, and I'd rather throw my hat in the ring than hunt right now.
For starters, this blog is unique, and it is because of our Commander In Cheif, Jeff. Never forget that there is a chain of command in this forum, and it goes like this. Jeff is at the top of the totem pole. Next in line, ALL OF US. Regardless of personalities and whether you are a type A or B person, we are all equal UNDER Jeff. Yes, some of us are more vocal, some of focus more on trades, some of us focus more on crap. BUT NO ONE should ever be afraid to speak up here, lord knows I open my trap and insert foot on occasion. And NO ONE should be attacked in here. Never. (unless they are attacking the blog, I'll drop a hammer!!) Yes, there will be personality differences and disagreements, but that is life in general, certainly not unique to this blog. But what is unique is our commander, and the way he conducts himself and this blog. I would suggest that ALL OF US, ME INCLUDED, read every day "about this blog" until it is seared into your memory.
If I offend anyone, or vice versa, like me and Kim a few weeks ago, be adult about it. I love Kim, we kissed and made up, and she is cool. Same for DG, even if we disagree on something (KWK, DG!!!...). And there is nothing wrong with an apology here an there when warranted.
Lets keep the posts where they belong, accept each other for who we are, and become better traders, and better friends. If you don't like a post or a person, ignore them, it's that easy.
EB, I admire you for both your intellect (did I spell that fucker right??) and for being an EAGLE and apologizing. I will admire you more if you change your mind and continue with what I believe are very valuable contributions on this blog.
Come monday, it will be alright.......
Back to the hunt, see you all Monday...
I will chime in here with my opinion on this whole issue, not that anybody cares! I don't want to speak for EB, but I didn't get the impression that the "loss of focus" that he was referring to was the social banter. I would agree it has been minimized with the new blog format. It was my impression that he was simply trying to point out that regardless of what is going on in the market, economy, etc., it really doesn't matter in the grand scheme of things. We just need to be able to read the charts/technicals and trade through it--no matter what is going on. That we need to be careful not to let "everything else" cloud what the charts are telling us. EB--if you are still reading, please correct me if I'm wrong!
Does he appear to have a dominating personality? Yes. Is his approach direct? Yes. I, for one, can appreciate that. I think he has had some valuable contributions and I was looking forward to hearing more. I think it's great to have another resource that has "made it" in this business that we can learn from. Granted, I don't know the identify of the EB, but I can only assume that JK does and would not allow him to say he has proven himself (to JK), if that weren't the case. But, I certainly could be wrong!
Anyway, last comment. Too much sensitivity on this blog! We are here to learn to be successful traders! Jeff is direct, his approach is direct, and that is naturally going to draw many other people that have the same personalities. If you don't like somebody's approach, ignore it--that is what I do anyway. And I will go on record to say that I think Rule #3 is very important--I think everybody needs to be aware of what they are posting, their experience level, how they come across, etc. Bottom line, I think as long as we respect Jeff's rules, as he outlined above, everything should be fine!
Sorry for the long post.... Happy trading all!
EB-
Take a few days, relax, and think it over. Yesterday was a crazy day. This community has an amazing ability to support its own and you're seeing a lot of that now. Just like the stock market, from time to time Jeff needs to give the group a personal 'correction' before the blog soars to new highs, and the site always gets better for it.
There's new people all the time, which means new meshing of personalities, new trading styles and ideas continually introduced. It takes everyone time to get to know and get comfortable with them.
Anyway, like I said, think about it and see how you feel during the week.
I am first time commentor. Great information. Thanks Jeff for all the insights. I follow all the watchlists and have started trading with real money. It is going well.
I am curious about stocks like JCG, UB, MER. They look like this last week they have rallied considerably but still look like great Put Option plays. Am I on track?
Way to go Jeff!!!
Your post is why you have so many folks reading here every day. You have the gift of being able to tell it like it is, refocus others and be respectful and forceful at the same time.
The market has a way of humbling us at times but at other times we need to be refocused by those that truely care about us. Here that would be YOU!
Early Bird & Brett your both strong personalities, hope your pride doesnt get in the way of hanging in here, we dont have to agree with you all the time or even most of the time for you to touch our lives in a positive manner.
I APOLOGIZE FOR THE LENGTH --- A MUST READ
A lot of great responses and perspectives. We all have opinions and biases to a certain extent, which is what makes us all individuals. Some of our personalities are strong, some are weak. Some are tall; some of us are short and heavier than we’d like to be. We are all different, we are all the same.
If there is any question on what types of comments are to be posted in each section, I believe each section is defined as to the content to post and expect. And remember if something may seem to be a little “off topic” it could be based on perspective or exactly that, off topic and light hearted. WE ALL need laughter and comfort in life.
In most cases, the bottom line in an online community is we don’t know each other from Adam (whatever that means) other than through community involvement. To gain a better perspective of who we are all dealing with, I think it is a good idea that we ALL set up an account under mybloglog.com or some other link and write a personal and trading resume under the “about me” section. Normally, I would be against this since don’t personally like talking about my own achievements, mostly failures and experiences, unless to encourage others. People that “know” me know I would rather make fun of myself and others in an extreme sarcastic approach. I offend a lot of people with being who I am; I never intended to, my motto is to enjoy life at all cost.
I personally don’t get offended by ANYTHING unless I feel attacked or belittled. Period. Call it human nature.
So, let’s think of a bunch of general, both business (trading), pleasure (trading, drinking) and personal (trading, drinking, skiing, family, etc.) for all of us to gain a better perspective of the person making the comments. Do you like adrenaline rushes? If so, what is your favorite way? Do you read? Etc. Are you a linear processor or a random/holistic processor? That I have found is a big personality trait that is paramount to understanding a person’s make up. I gave a test to everyone in my department at our monthly lunch outing. Try it is good fun and very productive. Since most of us treat our trading as a business, let’s understand the people we are working with or alongside.
Have a great weekend!
Cheers!
John
Lisa, well said, especially the last paragraph...too sensitive. This is our work environment, let's act accordingly.
Amy,thanks. And Amen to your second sentence!
Aw Jeff,
Thanks for the post, you have a way of making everything in the world right again :)
Hopefully we can all take heed.
I so agree, Jodi!
:-)
LisaG,
Okay, I reread EB's post...and you're right. I don't actually think it was directed toward social banter. WHAT was I thinking? I KNEW there was something "off" about that burger I ate the other day! Dang growth hormones! Pfffft!
Oh well, it doesn't matter what he said or what I thought he said...IT'S OVER! It's in the past. Done. Zippo.
However, I have not seen his photo on the recent readers panel today, and I'm concerned that he doesn't know that we're reaching out to him...
Early Bird,
Please reconsider, I always felt that playing tennis with an opponent that was better than oneself would always improve your own game. Myself personally I like the to learn from those who have, "Been there Done That" And hopefully would keep myself from being, been there and regretted it! Peace!
Krystal,
We can only hope that he does at least check back in over the next few days, at least to read, if not participate. Or that someone who does know who he is lures him back! I imagine he feels like he has done more harm than good at this point, given all the comments, people emailing Jeff to complain, etc... Anyway, as you said, what's done is done. If nothing else, maybe we can all learn to go with the flow, accept people for who they are/respect their styles, and keep in mind we are all here for the same reason--to learn as much as we can and to become successful traders!
Optionfanatic,
I am with you 100%. Although we definitely learn best from making our own mistakes (Lord knows I have made some huge, expensive ones), I am all for learning as much as I can from people that have "been there and done that"!
Krystal,
I am certain he has seen every post here. The eagle may have flown but this is a public space and is read by hundreds more than the few you see listed. He could show up tomorrow with a completely new identity and become part of this community once again. A new start. Hey...he could even be our Phantom Poet and we never knew! Of course that could just be a coincidence that PP disappears around the same time that EB shows up.
Something to think about.
DG,
I rarely give clues to aid in my identity hunt but I am not EB. I have not contributed to the blog of late because I am worried that it would be considered "off topic". I know Raimo misses me!