The Official Trading Thread

pocketrockets said:
Faber is a bit of a broken clock (and quite hyperbolic at times) however his track record shouldn't be ignored. He predicted the 1987 crash, called the NASDAQ top in 2000, advised buying gold in early 2001, predicted oil would hit $100 a barrel because of Asia years before it did, said the US dollar would rise and he called the recent US stock market bottom almost to the exact day in March 2009.http://www.youtube.com/watch?v=1BgnSPnO-I8
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he isn't doing this by technical analyses. technical analysis tells you what will happen tomorrow so long as tomorrow is just like what people did a year ago from tomorrow.

faber is actually thinking, talking in terms of big picture. there's a difference.
 


IMBotz said:
What technical indicators do you use for trading? Do you use moving averages?

I recently read Pitbull by Martin Schwartz, one of the best day traders and he seems to use moving averages a lot.

Whats your take on them?
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Moving averages are a must. I have used them quite often on this thread to bring up support/resistance levels. Such as how last week once Apple hit the 200 DMA..it sold off nearly $20 within 2 days.

Other actual indicators, I really keep it simple with just RSI. Majority of indicators are delayed..and only look great when looking at hindsight.

Biggest part of my trading comes from chart patterns. I love triangles. Symmetrical, Ascending, Descending triangles I find to be very reliable.


davidne said:
Pitbull's a good read, also suggest "Come into my trading room" and"way of the Turtle." In terms of technical indicators simpler is usually better, find 2-4 indicators that work for you and stick with it. What I use- MACD Histogram, RSI-stochastic, ElderRay, and moving averages-10,25,&50 are my time intervals.

Huge jump in AAPL today. Glad I hopped out of my puts on friday, might have to reverse and go bullish if it jumps over 470. GOOG is still in no mans land, price points for that are 895 for long and 880 for short.

Grunin you getting trolled on stocktwits or what?
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Fantastic move in Apple today for sure. I did not grab a single bite of that action. Had to be moving around a lot today so I didn't feel comfortable hopping on. I am looking for a move above $470 for an entry. I carry the same sentiment on Google. Just that I would move the long entry to above $905.

Nah, not really getting trolled. Some days some posts there piss me off and I lash out on some people. Which usually ends up with a long retarded conversation. I get some pretty good support on StockTwits otherwise.
 
By the way, today I opened quite a bit of $38C/$38.50C on Facebook. About 350 contracts in total. About $8,500 gain if Facebook stays above $38.50 come this Friday and next Friday. Actually have a bunch expiring this Friday, and some more expiring next Friday. Facebook has formed a very solid support at $38..and I feel comfortable enough grabbing this call spread. Would love to see a move over $39 quite soon for the cushion.

Breakeven level is $38.25.
 
i'm still looking for that successful technical analyst from the clinton administration. you know, the one who guided us through 2000-2001, the guru that helped us thru the 2008 crash, the one technical analyst who saw it all coming... that's right. NONE.

there are reasons they say there aren't any rich technical analysts, but a certain type of people still flock to them in every trying time, and those people are called dumbfucks.

this time is different. the charts say so. LOL.
 
By the way, I am holding 900 shares of Tesla at $148.50 average cost. Looking to offload in the next day or two.
 
Currently the weekly correlation between S&P in 1987 and 2013 is 91%.

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Full credit goes to johan.gradin from TradingView for the chart.
 
Today's vid.

[ame=http://www.youtube.com/watch?v=ByEtpMzMRaQ]August 12: $133,650 in Tesla stock // What's next? - YouTube[/ame]
 
Thanks for all the videos,buddy.

I was wondering what kind of account size do you trade? If you can not share that,it is ok. I just wanted to know how much typical drawdown you face in your account for what kind of return.
 
Absolutely MASSIVE move in AAPL today thanks to the Icahn bump. Took some Sept13 calls around noon @ 474, shit was up 200% by 3. Scooped up some more before close as well.
 
The more I look at today's move, more I believe tomorrow should be another strong day by Apple. It finished the aftermarket with an added $4.17 gain. Hell, if it just opens with that gain tomorrow morning, that is already a $7,506 gain to start the day. Reason is that my current delta is 1,800; so 1,800 x 4.17. Though..with every $1 higher..my delta will be increasing higher based on the gamma value, so it would be a bit more than $7.5k.

By the way, I have plans to add 10 more contracts to my current 22 contracts if we see a move above $495. I will begin off loading the contracts when we reach $500. Tomorrow can very well be another $15,000-$20,000 day.
 
Took another $13,000 in gains this morning when I sold. Decent for an overnight move. Holding a small position in Google puts, and otherwise keeping my portfolio mostly cash.
 
mGrunin said:
Even on the longer term..there are some attractive plays even though these are closer to "lotto" plays. So we know that in the fall Apple is releasing the new iPhone and in addition we will see the new product launch for Spring 2014. For the past 3-4 months Apple has been forming a pretty solid bottom at $400.

Well..we can pick up the SEPT 13 $500C/$520C. You can risk $540, for a return of $9,460. That max return would require a $505 price level. Nearly 2,000% return. Is it a difficult level for Apple to reach? Yes, but far from impossible. With earnings around the corner, if they get a beat, Apple will already be trading at $450+..and then throw in the run up to the iPhone 5S/6 launch..then we are closing in the gap. Since these are far into September, we will have the chance to watch the conference for the iPhone + new products, and also get the sales figures on the first weekend sales.

I am currently contemplating on a $2,000 risk play. $35,000 reward if we get to that level.
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Did you ever play this option mgrunin?

I remember seeing this and liked the odds on this call! At $505 price level, I thought it was super feasible especially with the 2000% reward potential.

Still new to this options but I would of loved to get in on this and put a little bit down. Having wellstrade I still need to convert my account so I can trade options though. Still learning though...seems like a good way to play trends!

If you did though looks like you'll be handsomely rewarded especially with the surge appl is taking lately!!!
 
Keep on killin...

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14 days into the month and currently up close to $60,000. I'll have the exact figure later tonight for the video. Would be nice to see if I can close in on $100,000 gain by the end of August.

So from earlier today, my overall gains did come lower. I had $13k in the morning, but finished with $11.9k. I ended up re-opening Apple positions when it broke over $500..but it then faced turmoil around $504 and at the end of the day sold off with the rest of the markets to $498. Thankfully my Google puts were there to help ease the loses on Apple. I have also reduced my Apple positions in half for an overnight hold. Places it a bit more on par with the # of contracts I have in Google puts.

Apple has currently pulled back $1.65 in the aftermarket and the futures market looks pretty weak. We might just have a deep red day tomorrow..hopefully not. If we want to see Apple over $500 again by EOW..we need the overall markets to cooperate. By the way, Nasdaq was down 0.41% today while Apple was up 1.82% Relative strength baby.
 
Video for today:

[ame=http://www.youtube.com/watch?v=NJxPS3WhGyw]August 14: Apple's killing! +$32,913 Week Gain! - YouTube[/ame]
 
Interesting stuff on Wal-Mart's earnings (published this morning)...

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Nutshell: when a giant retailer trades down on poor earnings in tandem with an S&P 500 selloff - more often than not, it's a buying opportunity.
 
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