my practice trades for the rest of the week put and call options – ICE has a real unique chart currently showing “W” reversal.
currently the only chart that stands out from many perfectly downtrends technical charts is ICE with a plain view “W” support bullish reversal on dailly and 233 minute charts. check it out for yourself. since it’s by itself I don’t think i would trade it as a real trade just because everything is moving down so if the market keeps moving down by force it will too.
October 8, 2008 | Categories: trading stock options | Tags: aapl, atvi, bullish october 2008 stocks, DKS, downtrending, EOG, fslr, goog, hans, ICE, ma, market crash 08, NYX, put and call option practice trades on V, rig, rimm, SBUX, shld, stock technical chart trading, swn | Leave a comment
I didn’t even realize how low stocks sold off until I saw today before the open. I would have traded short-term like 1 day in/out call options on them especially the good stocks. But if you watched GOOG today it dropped again to all new lows. Scary. Very scary, but awesome at the same time if you were playing intraday put options on it. I’ve noticed in my optionsxpress account now whenever I am looking at financial stocks basically all of them say “no short selling allowed”. They are really starting to protect companies too much. If a trader is short selling a company then he is betting on the company falling for good reasons. In the real free markets there should be short selling. If the trader is wrong he’ll lose all his money so the trader must no something.
Although I expect the market to continue falling I can bet the market with such a large drop and even a large come back +5% across the board on indexes will move up one more day before they continue you to fall. Now that I think about it they may just rally into Thursday when the Senate votes on the bail. A great economic blog called Giving Up Control makes some real points about the bailout, congress, and wolves disguised in clothes.
Here are my call option plays for tomorrow:
October 1, 2008 | Categories: put and call option practice plays, trading stock options | Tags: amat, bac, fslr, goog, hans, help in, how to, NTRI, NYX, put and call option practice plays, rig, rimm, september put and call option practice plays, sold off stocks aapl, swn, trading stock options, WB | Leave a comment