aiki14

I see most folks here are into technical manual type books, but for a new stock trader "Reminiscences of a stock operator" and Cramers first book "Confessions of a street addict" are more fun than educational but worth the time.

WINN did pretty well against the tide monday. I think you'll get your moneys worth short term.

This might help: http://www.investinginbonds.com/

Little doubt about them being the best of breed. They have an unbelievable ability to be on the right side of trades, they have the best investment bank on the planet, and their planetary exposure is a great hedge against market risk. I have been playing options straddle around earnings for years on them, and it's been from moderately to wildly profitable 6 out of the last 7 quarters. Even when everyone knew they were going to upside surprise they still seem to go over the top. Has been a core holding in my investment account and will continue to be for the long term.

Thanks brownsfan, I got it.

Let's see if we've got it now

I was hoping this would be full size and not a thumbnail

last try, see if it works as a jpeg

Well it didn't show up except as an attachment. [ATTACH]3721[/ATTACH] Chart Suite_ ASTI.pdf

I think we're setting up an ascending triangle and technicals and fundamentals backup a potential breakout through the resistance level near 20.10. But really I want to see how the chart posts here Chart Suite_ ASTI.pdf

Thats a lot better than E*Trade or Merrill. Thanks

Here's a good resource for that endeavor: http://www.hedgefunddynamics.com/?gclid=COH21KKMuY8CFQ2SHgod8hgtXA You can get the Hedge fund regs and compliance book free. Good Luck

And think of the added advantage of not having to decide on what to wear.

Actually each fund uses a benchmark that has some correlation to their asset class, not necessarily the S&P. Performance against a benchmark is the only way to measure the effectiveness of management (Alpha). If the fund outperforms the benchmark index by your 5%, or in other words 5% alpha, management has earned their bonuses, even in your -10% versus -15% scenario. We use asset allocation diversification strategies to protect against down markets, calling the scenario above incompetence is not understanding the concept. Mr. O'neill does not have a severance, he was not a contract employee. The $160-200 million is restricted stock and options bonuses he earned over 21 years as a Merrill employee in the same way every other employee of the firm does. He is not receiving a bonus for 2007 nor does his salary continue on after his date of termination. Additionally I believe he is a Harvard Alum. I am not defending Mr. Oneill, I wouldn't have put a guy who didn't come from the retail side of the house into the CEO position of the largest retail broker in the world, and I also see him as a "kiss up, kick down" kind of manager (same for Fakahany for that matter). As an aside I played golf with my Merrill guy on monday, he is with the Private Banking and Investment Group (PBIG) and he says the brokers really like McCann as successor or Greg Fleming from the IB side. And one thing thing I do agree with is keeping the MIT "dudes" around, as it would indicate you potentially have the assets to warrant an account at GS, and they won't even take your call without a million in AUM.

Will do TG. Thanks.

I believe that, but I am not particularly sanguine on just because you can do it that it follows I can. We'll see.

Thanks I'll try it after market close, and see if my Mac can do it.

I may have posted this already but "The complete options player" by Ken Trester is pretty good but more of a textbook than an easy to read treatise.

Hey TinGull, Can you post a chart of BQi, I think you'll see a tradable triangle there. And maybe a place for me to get a primer on posting charts. Thanks

No reason to limit it to ascending, a descending triangle is as good for a short as an ascending is for a long.

From http://www.programtrading.com/hlc.htm a good resource for program trading info as well. Program Trading Curbs Whenever CNBC runs a banner on your television screen that says CURBS IN or CURBS IN, we receive a ton of email from investors asking "What are curbs?" Here is the answer for you: Program Trading "Collars" A collar on program trading firms instituted by the NYSE is most commonly referred to on CNBC as "curbs in". The NYSE applies program trading curbs whenever the NYSE Composite Index (NYA) moves 190 points higher, or 190 points lower than the previous day's closing price. This NYSE restriction on program trades stays in place until the NYA returns to within 90 points of the previous day's closing price; or, until the end of the trading day at 3:00 CT. The restrictions will be re-imposed each time the NYA advances or declines 190 points. NYSE Trading Curbs apply only to our firm's (and other program trading firm's) computer assisted program trades. Contrary to what the public thinks, these collars do not completely stop all program trading, nor do they cancel out today's premium (prem) execution levels. The NYSE defines a Program Trade as: 1. A basket of 15 or more stocks from the Standard & Poor’s 500 Index. 2. A basket of stocks from the Standard & Poor's 500 Index valued at $1 million or more. Once the NYSE program trading collar is in place, Program Selling can be executed only on an up-tick. That means that the last trade was executed at a higher price than the trade before it. Program Buying can be executed only on a down-tick. That means that the last trade was executed at a lower price than the trade before it. Program Trading "Sidecars" In the past, this was another type of NYSE Trading Curb. It was eliminated on Tuesday, February 16, 1999. Program Trading "Circuit Breakers" If the Dow Jones Industrial Average falls 10%, trading is halted on the New York Stock Exchange for 60 minutes. If the Dow Jones rallies 10%, there is no restriction. Why? Because program buying and the accompany rally is always perceived as "good". If the Dow Jones Industrial Average falls 20%, trading is halted on the New York Stock Exchange for two hours. There is no trading halt if it rallies 20%, as that would be perceived as "very very good". If the Dow Jones Industrial Average falls 30%, trading is halted on the New York Stock Exchange for the day. There is no trading halt if it rallies 30%, as that would be perceived as "the best thing that ever happened in the history of the world". According to the NYSE the current 10, 20 and 30 percent decline levels, respectively, in the DJIA will be as follows: A 1,350 point drop in the DJIA will halt trading for one hour if the decline occurs before 2 p.m.; for 30 minutes if before 2:30 p.m.; and have no effect between 2:30 p.m. and 4 p.m. A 2,700 point drop will halt trading for two hours if the decline occurs before 1 p.m.; for one hour if before 2 p.m.; and for the remainder of the day if between 2 p.m. and 4 p.m. A 4,050 point drop will halt trading for the remainder of the day regardless of when the decline occurs. Point levels are set quarterly by using the DJIA average closing values of the previous month, rounded to the nearest 50 points. The percentage levels are adjusted quarterly.

Much more likely that the lost money comes from more casual, and smaller traders. If you're getting any money off the "MIT numbskulls" it's because they're arbitraging a small percentage off both sides of a trade you happen to be on the winning side of. It's unlikely they notice you, or any individual trader for that matter. The game is indeed old, and the reason the players are always new is most get swept out of the game by the real big money players. I am interested in the reaction to any mention that the real big players are highly educated, math whiz types. There is no doubt that they are the big players, which implies it is a successful strategy to employ them or their methodologies, prepare oneself to compete against them, or sidecar along with them. So why is it that my mention of these things elicits such vitriol? I am also wondering about your definition of "high Stakes", which I see as million dollar equity trades or 100 million dollar currency trades.

I don't play the index options other than as portfolio protection, so the greeks are not important to me. I don't see how they would be particularly relevant in your swing. If your using options to protect a stock position they're of limited importance at best. If your using an options only strategy (combinations, long and short etc) they are more important in determining strategy (which combination makes the best bet), price and time variables, and entry and exit points. If you are buying options in lieu of stock positions (buy a call or put) to make use of leverage, the value in the greeks is to help determine which strike has the best premium value. And if you want to arbitrage the difference between premiums the greeks are of value. IMHO

Sorry, your question was fine, my answer was poor. See my other post for places to go.

Here's a good start for all things options http://www.cboe.com/ another site I like http://www.optionmonster.com/#action=home