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My name is Jeff Kohler, and I am an Option Addict. I make money in the options market. Don't believe me? Watch me.
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Tuesday, March 4, 2008 at 11:38AM
Reader Comments (18)
UH OH Look Out Below!!
Jeff,
I think that looks GGRRREEEEEEAAAATTTT.
Berkshire
Yee-ha!
Jeff,
Are we forming a H&S on HANS(god rest its soul) on the 1yr with a potential 30pt move with a break below 37.50?
Brian, 30 point???
My bullish positions are biting the dust one by one this week.
DBA, FCL will probably be the latest casualties today.
Kim,
I spit on DBA. Pffft!
Want some brownies?...
When the market is in selloff mode like this I've learned it is best to only hold puts and cash. It hasn't worked for me to try to catch bottoms of corrections by buying calls. I lose more trying to trade calls in this type of environment than I do by just keeping part of my account in cash until things stabilize and using puts for downtrending stocks.
Keep in mind there is no rule that says you have to be holding calls (or puts) in every market environment.
Clean Cups.
DMS425,
Neckline 40-60= 20. Ok 20. Sorry
JH,
You don't find it better to diversify, and hold at least a few calls?
What happens when the market rallies?
That will be a big dent in the account!
It's all good. DBA is breaking through its trendline today. The trade is done. I will be out if it closes below $41.
I was out today and got an alert that I've already been stopped out of DBA. Now watch it go rally to new highs.
Speaking of not looking so good, how's that CMED trade working out? Was your exit the day after entry? I'm still holding on waiting for it to go back up while waiting for ARTC to come back down. That, and looking out the window for flying pigs.
Down and out,
Since earnings were coming out I started with only a few contracts (OTM).
I positioned myself for a 100% loss of premium, and that is exactly what I got.
Was your comment "Hows the trade working out?" intended to be a jab? I hope not.
The only jab is to my little account. I have to pick and choose carefully which ones to get in and it's sad when the call goes down and the put goes up.
Down and Out,
Please don't point your frustrations at me. I lost on this one too.
If you don't have success trading my ideas, please don't trade them. Especially if it becomes a blame game.
D&O- Jeff just provides the ammo- it's up to you to point and pull the trigger.
Stan