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Thursday, December 07, 2006

Watchlist

Several stocks on my watchlist:

NR7: NYX, BBY

All time high: GS, BIDU

Unusual Options Activity: DE

Courtesy of Briefing.com: DE Dec 100 calls are seeing interest this morning, with LBO chatter circulating. The upside Dec 100 calls have traded 8270 contracts vs open interest of 3450, pushing implied volatility up around 6 points to ~30%.

Breaking down: APPL

AAPL has been trading in narrow range the last few sessions and yesterday it closed below the week's low and below $90 level.

ENER is still on my watchlist


On a separate note, old solider has kindly shared some of his trades with us and there is some interesting discussion going on here & here.


4 Comments:

Blogger Old Soldier said...

S.O.T.,

I thought it would be good to post some valuable thoughts from one of the most successful woman trader's of all time. I have learned to apply a lot of what she teaches in my own trading styles. It works!!! K.I.S.S. No magic pill or bullet.... A few simple techniques with rock-steady management procedures will always win!!!


These are some thoughts that may pay you to ponder. They come from Linda Raschke:


1) A few trading skills and a little common sense will get you more mileage than all the books and technical analysis combined.

2) All you need is one pattern to make a living.

3) Placing initial stops should be a habit that is never broken.

4) The main goal of each trade is to minimize risk rather than to maximize profit.

5) Positions are managed according to the market's behavior after the trade is made. The outcome cannot be predicted.

6) Focus on risk instead of the outcome.

7) Strongest Pattern in swing trading is trading on tests of previous highs or lows.

8) Previous Highs or Lows form a double stop point.

9) Support can only be established after a TEST.

10) Retracements are a second favorable pattern of swing trading.
Retracement Patterns allow you to buy a higher low and enter in direction of trend.

11) Retracement Patterns require no testing of the low since it is in direction of trend.

12) Stay in one time frame - When in Doubt, Get Out - Don't Trade Dull Markets - Take Windfall Profits. Windfall Profits means much bigger than anticipated.

13) Take profits on half or all.

14) Trail stops tightly.

15) Most monthly profits come from one or two trades.

16) Keep losses small.

17) Initial Stops are NOT subjective.

18) Every Trading Strategy is absolutely 100% useless without proper money management.

19) Win or lose is not because of entry methods, but because of money management skills.

8:35 PM  
Blogger Cal said...

Well I thought those Apple Puts were looking juicy, so I bought 6 contracts yesterday of the DEC $90 put, they're up 186% today. I wonder what going on with DE? Do you ever speculate in options of takeover bids if you see there is a lot of "unusual" activity? Just wondering. Check out today's blog entry, my third options trade, ever!
Thanks!
-Cal

P.S. As for the post below, that's a lot of great rules to follow, hell if everyone followed them, they'd all be sitting high right now.

7:03 AM  
Blogger Simply Options Trader said...

Cal, congrats on your AAPL trade! At which point did you enter your trade?

I have not "speculated" in options of takeover bid showing unusual options activity before. I'm keeping it on my radar more for a day-trade candidate should it continue its momentum with the speculation. Its a little risky to hold as swing trade in my opinion. Never know when it will announce LBO (which is great for stock!) or dismiss LBO (stock will tumble!) - which to me is quite like a gamble, unless the options are really cheap

12:51 PM  
Blogger Simply Options Trader said...

old solider,
Thanks! I hope to be as good as her, lol, if not 50% of her trading skill is also good enough!

1:06 PM  

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