Archive for May, 2009

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  Happy Hour Recording for 5/27
  stevenplace, May 28th, 2009 at 5:42 am, Comments: 0

  Here’s some of the plays I mentioned throughout the video… do note that while I like these ideas you should fine tune the entries… the risk management and position sizing are up to you!

  COST Jul 50/55 Call Vertical @ 1.58
  TGT Jul 42.5/44 Call Vertical @ -.50
  AZO Jul 150/145 Put Vertical @ 1.55
  MET Jul 32/34 Call [...]

• Option Play for COST
  stevenplace, May 26th, 2009 at 6:48 pm, Comments: 0

  Nice multimonth breakout going on in COST right now. Check out the chart:
  Very nice breakout over 48.5, there’s a lot of moving averages crossing and turning up; it’s currently tagging the upper Bollinger Band and the bands seem to be expanding. So from a technical standpoint there’s a lot of price and MA support underneath [...]

• MOS Put Sale
  stevenplace, May 21st, 2009 at 12:42 pm, Comments: 0

  Yep, the market is pulling back. Finally.
  I guess we should panic.
  Anyways, here’s the chart for MOS:
  So we broke out of 50 about a week ago and the momentum has been fading and we’re pulling back. There’s quite a few moving averages that the price is above that are potential support, as well as our previous [...]

• 

  Happy Hour Video
  stevenplace, May 20th, 2009 at 6:02 pm, Comments: 0

• Stop Doing TA on the VIX… Please!
  stevenplace, May 20th, 2009 at 11:32 am, Comments: 0

  Pretty slow day for me, I’m babysitting a couple short term positions as well as making sure my theta positive positions remain as such, so what better time to rant then now?
  I’ve been meaning to write this post for a while and it will be quite a handy reference when trying to prove people wrong [...]

• ERTS Breakout Trade Strat
  stevenplace, May 19th, 2009 at 5:47 pm, Comments: 0

  That’s right, I’m going to make some money because of this guy, your friendly local WoW player:
  Although I won’t trade the story, ERTS has a great looking chart pattern that I think is exploitable. Let’s take a look and then we’ll go into some option plays.
  Great looking multi-month breakout with the intermediate term moving averages [...]

• Real Men Have Black Lung
  stevenplace, May 18th, 2009 at 12:23 pm, Comments: 0

  I’m watching ANR very closely based off this chart:
  A break of the downtrend line would be a nice, low-risk momentum play, but you’d need to keep an eye on the sector and related stocks for follow through. Even on a long trade, there’s still pretty solid evidence of supply at 27.5, so that will have [...]

• Monday Morning Trade Ideas
  stevenplace, May 18th, 2009 at 6:49 am, Comments: 0

  Premarket futures up but I’m waiting to see if the opening structure provides us with more evidence of a trend change or just a correction from being so overbought. I went through all the charts of the Nasdaq 100 last night and saw a good percentage of them with recently broken trends, so that gives [...]

• Happy Hour Trade Review
  stevenplace, May 8th, 2009 at 6:03 am, Comments: 0

  This list isn’t exactly comprehensive, but it’s got the general theme: fade momentum by getting into some spreads, looking for a decrease in absolute price movement into June.
  You can copy and paste these trades directly into your thinkorswim platform; they’ll also be on mytrade. Do note that the position sizes are just defaulted at 10, [...]

• Happy Hour
  stevenplace, May 6th, 2009 at 4:50 pm, Comments: 0

  Click here: http://bit.ly/zW62k