TinGull

There she goes....645 and change. Perfect!

Looking at the chart, it looked like that's where it wanted to go....but at the moment it's trading in the low 630s, well, now mid 630's, and now upper 630's...now lower 630's...HA!! Yay goog!

Would be a good strangle candidate, for sure...but the close is upon us and no orders to be put in. If I were to put in an order earlier...this is probably what I would've done: 630/650 strangle Great looking risk profile for a turn either way...which I guess was down. Damn markets fakin a brotha out!

She's goin' higher.

I already got that set to record Looks like it'll be sweet.

Not a bad couple weeks' pay, eh?

HA! Yea, I agree with what you say. That's why I'm still long it.

The SPY...should make for some interesting action eh?

They do seem to be. If today is supported then a buy would be in order until 156. I'm leery of this potential false break. But gotta keep on to the upside until things are proven wrong.

Speaking of false breaks...could this be one?

Yea, I definitely watch windows and clusters, too. WRB's are definitely something to note on dailies. The more and more I mark them off the more often I see price respecting them.

I know some folks like pivot and nihabashi use WRB's as S/R levels...thought I'd share this chart of SPY. Showing a big a$$ hammer at the top of that WRB oughtta provide it some support, especially with the volume increase, right? Well, today's gonna be interesting as price is indicated much lower. Time to buy it? I'm staying put for right now, but after the first 30 minutes I'll have a clearer picture. Might be headed a bit lower.

What I thought was no supply was quickly negated the following day and supply entered the market on a nice down spread on increasing volume. Price did probe the top of the previous box, and with higher volume on the down move, decent spread and closing near the midpoint of the bar...would could *think* we've got a little upside to possibly see. With this being a real estate ETF...I think downside is more to come as we've broken the primary uptrend line. If we do end up closing inside the previous box, look for a continuation to the bottom around 70.

Yea, those are fabulous plays. Pure Weinstein analysis regarding the market phases breaking from a phase 1 to a 2. There's lots of good tools out there to scan for that kind of stuff, too. Trading in lateral channels. But...I gotta keep it as simple as I possibly can.

Yea, I've narrowed my list down to about 25 ETF's and stocks with nice deep options markets. The one thing I hated about index trading was that there was no diversification. That's what led me down a bad path last year with options, where my money was held in the index options...I thought...I've got 4 different symbols, should be diversified enough...hahaha! So now I watch a list of sector ETF's and some commodities ETF's as well as a couple different stocks. I hate to have to build scans and all that, seems like too much work for the gain of only mass confusion. Every weekend I'll start to look at what the possibilities are, areas to watch on each...and just set up alerts on each to take the work out of having to remember levels on each. Like today...Put alerts on TLT (20 yr fixed income ETF) for a long play and XLU (Utilities Select Sector) for a short play. With the 25 issues I'm watching now, I've got 14 different areas of the market to play. I LOVE watching Fast Money cause those guys are a freakin' riot, and Jeff Macke said last night: "There's always a bull market somewhere". It's neat to see indices trading down while my account still grows with long positions (or synthetic longs when I sell verticals).

BF, very good points. Looking at the daily, its got increasing volume on a spinning top at resistance...it's a tough sell for the bulls to gain the upper hand here, IMO. But, if the markets start to strengthen up again, perhaps it'll help PNRA higher. Regardless, I'm watching 50 like a hawk.

gotomeeting.com can also do it pretty slick.

http://www.traderslaboratory.com/forums/110/my-trade-ideas-2619-2.html#post22003 This is what I did with my SPY options on this kind of play. i didn't do anything with the vix options. profit target...basically want SPY to remain above 150. I figured 1500 would be a level that bulls would defend on SPX and it gives me a nice bit of cushion for the next 30 days. Good chance of working out, too, based on the volatility.

2 hour chart of PNRA

We all know the VIX, RVX, VXN and all the volatility indicators to watch...but did you know that you can trade options on them? If trading vol is a bit too esoteric for some, you can always trade any major market. If watching the VIX, trade the s&p's. For instance.... I went short a put spread into the close last night on SPY because of two things...one, we built a phase 1 after 2 days of down action, so an upmove was called for to relieve some exhaustion. And to put the icing on the cake, we had this chart: Any candle chartist will tell you...GO SHORT this chart! A doji at a solid resistance area. Well, when the VIX goes down, price goes up. By going short a put vertical I was in essence buying the SPY with limited downside (limited upside potential, too) to worry about. So far, so good.

I stand corrected...thanks Ravin

I love Manjula!! And you're welcome Walter

http://www.wikihow.com/Make-Garam-Masala

a test would be the opposite