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Starting to hit some home runs!!!

Sticking to the stops is the way to go!!!! This past week i won with Rimm, RIG, and WYNN. Lost with YUM. But that loss was very small because I stuck with the STOP!!! I look forward to the week ahead and I am hoping that I am going to see a big turnaround by just keeping to the STOPS!

On The Radar For Monday, January 24

Buy the RY March PUT at 22.25. This stock has been going down for months. Wait and see what annoucements might come out Tuesday from the obama team to save banks.

The Bigger They Are-The Farther They'll Fall

Bought USB PUT's this morning at share price $13.70.

Heres my thought. Buy PUTS IN Banks that have shares over $10. Hard to find as all are crashing, but the bigger they are the harder they fall. Isn’t that the saying. Don’t hold over the weekends. That’s when the treasury does theit thing, so start looking for next week until the next bailout package starts heading this way. Then buy more PUTS again when the Republicans say no for a few hours. Then buy CALLS after the passage of the bailout for a week until they start crashing again. That’s my new strategy.

The Rules are made to be followed

Over the past months of research and trying to build a winning plan there is one common thread I have read more than anything else. Stick to the rules, don't break them, stick to the plan or you will be broke in your trading account. Well once again I did not and I am down almost a $100 in my last trade. Maybe it will come back but maybe it won't. If I had stuck to the rules it would have taken an extra day, but I would have had my original entry point that I was aiming for instead of getting all emotional and jumping the gun and once again buying at it's high or in this case, it's low since it was a PUT and staying in the trade instead of sticking to the rules and selling at only a $15 loss, I am at a $100 loss and still waiting for it to come back. Thats how most of my trades have been latey. Not sticking to the rules and loosing hundreds of $$$$. Anyway the common thread in all the research i have done is not foolow the trend, which is important to do, but the most common rule is keep your losses very, very, small. Stick to the plan, stick to the rules. Anyway, I am now at the point that if COF does not come back, I will need to switch to paper trading for a while because I can no longer afford thes losses. Let's hope the Bears show up tomorrow.

Stick to the rules!

Ok the rules are right. They are always right. I got to see COF go to my original price target today, which was below my new stop loss target. I held on to it past the stop loss and thankfuly it came back. But the point is, stick to the rules to make money. Even if you have to wait a day or two to hit your entry point or have more than one trade on the table to watch for, but stick to the rules.

Broke the Rules ...... Again

My entry point for COF was .80 - .90. But when i saw it plunging this morning, I could not help but to buy it at $1.15. It closed at the day at $1.00. By my rules, it is at my .15 stop loss which I have to sell it. Hopefully it will gap down in the morning.

On The Radar For Monday December 29th

I am still eyeing COF as a PUT buy above where it is now at $29.50 up to $31.50. Buy .80 - .90.

Watch the market the first hour to see what type of volume there is and wait till atleast the first hour passes. (OI)
Also watching ENR as a long. Buy at $50.00. I bet a lot of batteries were bought at Christmas. (OI).

Watch MIR to drop below $17.48 to buy PUTS. (ut)

BJ short under $32 (ST)
TKR long over $18.50 (ST)

Cost buy PUTs at $51 (botd)

PLD above $15 april calls

STLD PUTS-plunges at $10.36 (ST)

Remember when buying options, look for tight spreads and stick to the $15.00 loss. Buy at the dips.

On The Radar For Friday December 26th

NCR buy PUTS at stock price $12.60-COF buy PUTS if finance sector going down at $30.50- $31.00

Smart Trading

A GOOD Trader WILL: 1. Always wait for the setup: No Setup-NO Trade. 2. Knows that winning trades work almost right away. 3. Never takes a big loss. Sell it and start over. 4. Takes small loses regularly. Winners will come. 5. Lets the stock keep working until it does NOT! 6. Is eager to sell a loser, NOT a winner! 7. Buys pullbacks/patterns on the strongest stocks. 8. Will always trade small so he is not emotional. 9. Takes responsibility for his own trades.

On The Radar For Monday December 8

FDX-FedX, watch for a dip back to $70 to buy CALLS and AMZN - Amazon dip to $46 to buy CALLS.

Bought RIMM PUTS again today

Bought RIMM PUTS at stock price $37.50 or PUT price of $1.63. Looking for stock to drive down to $32.00 on the next big sell off.

RIMM = A Winner

Bought RIMM today. Futures were down about 60 points this morning, so i jumped on RIMM on a bit of a risky trade. The market traded sideways all day or in rollercoaster mode. About 2 PM the market appeared to be rallying so got out at a $35 profit. After commision and taxes that dinner for two and dessert at whataburger. The celebration here is that I did not ride it back up in the rally and loose, but was smart and took a small gain. Take gains where ever you can, don't hang in there with emotion and loose. You can always play again tomorrow when you make small gains, but you will be finished tomorrow, if you loose it today.

Buy RIMM PUTS

Watching for RIMM to drop below $39.50 and buy PUTS. Rim has been continuing a downhill spiral, breaking multi year support levels and bouncing at support which is $38.50 on November 13th. Today bottom at $39.80. Are we still in a Bear market. If so, this will be a winner!!!!

Sold SNDA

Sold SNDA for .50 in profit. This pick came from Stock Twits. Thats two for two from that web page. http://www.stocktwits.com/streams/all After commission that's a $35 net profit. Thank you Jesus!

Apple

trading theory: buy calls under 86.50, buy puts over 96.50.

What is FXP

Saw a lot of chatter on this site i found last night called Stock Twits about FXP. I have no idea what that stock is, but i made a quick $55 in a few hours. Sold it at 2:50 PM for a nice little profit. This stock drops as the market rallies. Not sure why as it is a fund in China.

Bear Trap Coming

I can not imangine that w are going to continue going up. We have had 3 green days in a row, today only up 36 points on the dow compared to the last two of average 400 each day. I bought 2 more CREE PUTS today at .75. This puts my cost basis at $1.00 each or $300.00 including comisions. I am ready to ride these down, because they are barely participating but WILL drop on our next down day.

Another Stupid Move

Got home around 2 PM. The market was recovering from the Obama speech. Wish i had stayed in that trade below. The call closed out today at $3.40. OUCH!!!
At 2 PM today when i saw the market soaring again i tried again. I bought a dia at .64 which had a delta of .13. The market soared and the call was worth .70, but a quick reversal got me out at .60. Another loss. There is no way I will stay long overnight in this market so i sold it.
Today's loss was $40. I need to stay away from the quick and emotional plays for sure.

Emotional Trade

Bought DIA call at $3.20. The market was soaring and the Dow was up 300 points already. When I bought it, the market stopped. In an hour later, the market has been trading up between 280 and 320. Hoping for a highrer pop.

Sold today at $3.10. Obama started speaking announcing his economic team and the dow immediatly started plunging. Got out with a $10.00 loss plus commision. Thank you Jesus for the save!

DOW Target

Low to go to 6700

S & P 500

Support 741 and Resistance is 845

Non Particpating CREE

CREE was sleepining today. Every time the market went up, including the 500 point soar CREE just stayed there, but when the market would go down, it would drop. On the next big sell off day, it will be the perfect sell. Should fall to stock price of $11.00. Bought 1 PUT at stock price $14.50. Look for a quick drop Monday. Remember: follow the trend.