TinGull

Evidently, after the crash they went to wall st and served up this ice cream for free, too. Nice guys

Yea, it was a real flavor.

Well, decided to close out some of my positions this morning just to mitigate some risk while I had some profits. BHI - I bought a call spread to minimize my risk on that trade but participate a bit in the up move. Initial cost was 98 dollars per contract and I sold it this morning for 177 per contract, or 55% on invested capital. GDX: I bought some calls outright since premium was cheap enough for $155 per contract and sold this morning...a little late...for 227 per contract or 68% on invested capital. I bought a few shares of GLD the other day and sold them this morning. I don't really like buying shares outright, rather play options. Didn't make much on that position. I had bought them for 73.53 and cleared them out for 74.77 for a 1.7% gain. Cute, huh? So anyways, I've got one other position going right now on SIMO, I sold a call spread 3 days ago (20/25 for 1.82 credit) and am currently down a tiny bit on it (15 bucks per contract about...). The IV expanded all to the heck on this one, too. When I sold the spread IV was pushing around 55 and now its 63. In 3 days...crazy. So, that's all for my ideas right now. VIX is moving like gangbusters up over 12% today.

Just to box in what Walter said.... Good phase 3 forming on it.

Nice. With "drunken rallies" I never can go against the trend. I'd rather wait for the pullback to pull through and buy a ticket on that gravy train.

please PM Soultrader for info on the forum specifics.

Figured you all would enjoy. Happy 20th

One thing, too...is to try and separate out ET from TL for a minute...if ET didn't exist would we be having this discussion? TL stands on it's own and really hasn't been "infiltrated" (for lack of a better word) by those lousy guys. When I started really thinking about it...I thought, why not just leave well enough alone at ET and just focus on the content and relationships here at TL? The biggest reason I stopped watching and posting at ET a year ago was because this site provided me with so much more than ET could ever give (besides a heart attack from reading stupid posts). My vote is to just leave well enough alone here, the mods will keep doing what we do and those guys can post whatever they want on ET. I wouldn't give them the time of day by responding to them, and I like what James did over there...one post is enough. To me, to have 50 pages of nonsense is overdoing things.

Up 1.63 at this moment in time.

If it were me, and it's not...but if it were...I'd only allow Premium Traders who pay for this service to be able to access the information here. Either that...or have the premium members actually use the premium forum for posting their content. If the premium trader accounts were to post there instead of in the "open" then that would prevent lots of unwanted perusing of posts by folks who can try and use that to one's disadvantage. (did that make sense?) Reason? Spammers won't want to pay to become a premium member just to dig dirt and post somewhere else about it. If they do...then they're REALLLLLLLLLLLLY dumb to waste their money on that. That's my thought on it. I think it would be something really worth doing for the premium members of this fabulous site. oh..someones posting crap about my VSA thread??? *puts on boxing gloves* show me.

Out of the 3 you are looking at dogpile...GME is the one that stands out to me for immediate results.

Hi Gary, Some good points you bring up to be concerned with regarding any "indicator". To me, VSA has given me a depth of knowledge I never had before. I can see better what is happening inside a bar and knowing that I must wait for confirmation of what I'm seeing is good for me, since I used to just jump in real quick without thinking much. Is it better than 55% of the time? If applied correctly I think it is. I've learned that VSA theories shouldn't be applied just any old time, but at times where price needs to make a decision. If you're trending and all of the sudden see a high volume up bar that closes near the lows should you short immediately? If there's no overhead resistance right there, I wouldn't. If its trending up and all of the sudden you see that same signal at a known resistance point, then it's a much higher odds opportunity to try and catch that top. I'm no system trader, so I can't answer that one. Best of luck, and give this thread a read through. You'll probably find that you've been seeing many of the same things that VSA gives you, but VSA can put it into a more concrete foundation for great trading.

HA! OOPS! Forgot to update my data....

Just a chart I happened across.... Big volume coming in on an uptrend line with a gap down closing near the highs... I'd be watching for a gap up on Monday with this one for another leg up.

You would want to use a "Range" chart. Here is an example. Each candle will have a max 8 tick range (0.80 dollar value) and when a candle prints a tick above or below the range, a new candle will draw.

HAHAHAHAHAHA!!!!!!! I love it!

Oops! Thanks for catching that for me.

Watching this ETF...One thing I'm noting as it's hanging out consolidating at a resistance level is the excess being formed in the tails of candles along with volume. Note yesterdays volume...almost half of the previous day's volume as well as being at the bottom of the consolidation zone. Dalton would say that as volume declines into an area of a bracket extreme, the more likely that area is to hold. The biggest signs to me are the hammers/dragonfly doji and other signs of excess showing possible upside potential. While there is some resistance overhead, I'd watch for this one to make an upside move. What ETF is it? IYR. Real Estate

Definitely noticed that and definitely keeping a keen eye on it. My stop is above the 24 dollar mark and we've got a month to go yet on this spread. We'll see how it all turns out.

Very nice stuff. I'm sure I'll have some comments to post when I'm not so groggy.....still early here.

•Intermission right now• Cool, would love to see any examples of trades you've taken in the past to see what you're looking at for entry criteria. I realize you say its really discretionary...as are my entries.

Good stuff so far. Are you planning on a wheat trade? What sort of signals are you looking for to place an order? By the way...I'm writing this post at a live show I'm doing sound for...thought you'd appreciate!!

Thanks for your kind words. The scanning software I was using there is TeleChart.

Nice stuff ZTrade...I like it a lot!

Gained a little today. Also put on a new trade on SIMO. Sold a call spread NOV25/20 for max return of 37% on invested cap. Looking for this to keep headed down at least to 18.20ish and possibly to test the lows at 16.80ish.