Monday, January 26, 2009


(2:27 PM) JR Roden: Have their option picks been fairly accurate/profitable?
tomthetrader: it is a tough market
(2:27 PM) Nick_H_SanDiego: I'm not a fan of anything lately!!
tomthetrader: we are having a good day
(2:28 PM) Nick_H_SanDiego: Yes the option picks have been pretty good...they mirror what Tom Busby is doing in the futures market so they are pretty good.
(2:28 PM) pupster: this is handle it with pure ease...amazing!!!!
(2:28 PM) Nick_H_SanDiego: Give it some time to fruit
tomthetrader: Thanks Pup
(2:28 PM) JR Roden: I'm a big fan of QQQQ 29 put options today.
tomthetrader: nice was perfect as the resistance was so strong Q's 30.00 and SPX 850.00
tomthetrader: Q's unch
(2:30 PM) JR Roden: Thanks for pointing out that resistance earlier today. I've just hung on for the ride, but I'm tightening my stops now.
tomthetrader: stop at 829.00 cash
tomthetrader: 4 ES long
tomthetrader: anyone know the symbol $VOLD ?
tomthetrader: stop at 830.00 now
tomthetrader: so we will have a profit
tomthetrader: 833.50 sold 4 longs
(2:35 PM) Nick_H_SanDiego: Tom, here is a cool utility where you can take a snapshot of your screen and then share it instantly with everyone via a and handy
(2:36 PM) Nick_H_SanDiego: Tom have you ever used this pit audio?
tomthetrader: Thomas I think liked it
tomthetrader: $750 cash profit on those 4 and back to 100% cash
(2:38 PM) aszags: Tom I have been away from the computer but it looks like you successfully caught the down move and now the up move I had naked short calls to protect my long covered positions in ddm and sso which I closed out the naked calls. I also took a bullish positions this afternoon by selling naked calls to open Feb qid 62 and got $4 on 50 contracts
(2:40 PM) aszags: Is Thomas here to harass?
tomthetrader: GOOD TRADING GUYS ...Thomas is mad at me ?
tomthetrader: He thinks I am mean old man
tomthetrader: tried to buy his Seiko watch and he won't talk to me now !
tomthetrader: McHugh Mr. Practical neutral to Bullish ...I am being careful VV still on a Buy ?
tomthetrader: Gold should drop soon ?
tomthetrader: again we may buy 827.50 -830.00 10% long SSO or BGU
tomthetrader: I will let you know very soon
(2:45 PM) TraderTim: A/D: +313
tomthetrader: still OK to go long at 829.00
tomthetrader: 28.00 27.50
tomthetrader: banks really spun 360 on China bash
(2:47 PM) aszags: No last week Vector Vest went to a confirmed down signal on jan 20. They say that they have had 7 wrong confirmed up or down signals in 13 years out of 56 signals.
tomthetrader: so they are - now Zags /
tomthetrader: Thomas won't believe only 7 ! But he is not a good ad for VV
(2:49 PM) aszags: I am still bullish myself.
tomthetrader: I have had 7 but in the last 24 months missed
tomthetrader: I am neutral to slightly bullish here at 827.50
tomthetrader: I will go long
(2:50 PM) Nick_H_SanDiego: 5 pt short squeeze
tomthetrader: nice run
(2:51 PM) aszags: Thomas did the calculations for Vector Vest so it must be his error. At least Vector Vest researched their confirmed calls and gave the data this past Friday
tomthetrader: Hope fully Thomas will come out ?
tomthetrader: We need the polish hammer
(2:53 PM) aszags: Is he in a cave? or is he being detoxified?
tomthetrader: (2:21 PM) Nick_H_SanDiego: DTI option club put out an alert to buy Feb 2008 DIA 80 Puts @ $3.10 with target of $3.40
tomthetrader: He is mad at me
(2:53 PM) Nick_H_SanDiego: Yea the DIA puts haven't worked-out so far
(2:53 PM) Nick_H_SanDiego: of course
tomthetrader: Nick what is the proce on those puts now ..should we enter ..are you long /
(2:53 PM) Nick_H_SanDiego: I spoiled it by publishing it!
tomthetrader: is now a good entry /
(2:53 PM) Nick_H_SanDiego: 2.90 ask
tomthetrader: I need a short
(2:54 PM) Nick_H_SanDiego: I am long the puts
(2:54 PM) Nick_H_SanDiego: yes
(2:54 PM) Nick_H_SanDiego: I'm in at 3.10
tomthetrader: 2.90
tomthetrader: what symbol no fill
(2:54 PM) Nick_H_SanDiego: .dijnb
(2:54 PM) TraderTim: A/D: +683
tomthetrader: .dijnb
(2:55 PM) Nick_H_SanDiego: .DIJNB
tomthetrader: I am looking
tomthetrader: market rallying
tomthetrader: a/d +as Timmy points out
tomthetrader: tough to short
tomthetrader: cash OK
(2:55 PM) Nick_H_SanDiego: yes a/d went pos
tomthetrader: APA acting well
(2:55 PM) Nick_H_SanDiego: there was a big turn around right at 2:16 some news must have come out
tomthetrader: Obama China bash
(2:57 PM) aszags: nyse A/D 1842 to 1182
(2:57 PM) TraderTim: A/D: +669
tomthetrader: 660 +
tomthetrader: Thank you
tomthetrader: Not good enough for TTT
(2:58 PM) TraderTim: what would you want to see here to go LONG Tom
tomthetrader: TTT Timely targeted tremendous ?
(2:58 PM) TraderTim: A/D: +850
tomthetrader: Good rally
tomthetrader: blows out those puts quick
tomthetrader: a/d nice pop
tomthetrader: need volume
(3:00 PM) TraderTim: A/D: +1013
(3:01 PM) bocarat-1: DTI wrong again lol
(3:03 PM) Nick_H_SanDiego: yes bova
(3:03 PM) Nick_H_SanDiego: go figure
(3:03 PM) Nick_H_SanDiego: boca
(3:04 PM) bocarat-1: np laughing at my self too. had there AAPL puts last week and killed
tomthetrader: ouch so after i looked at the puts I could see there was not a good risk reward on the puts
tomthetrader: but we need a low risk short
tomthetrader: soon
tomthetrader: Rates rising worldwide is Aruj out there ?
tomthetrader: we need thomas and aruj ?
(3:08 PM) JR Roden: I just signed up for trial of VV, I'll put out an email with all their Market Calls and we'll see how accurate they are.
tomthetrader: AMGN after Hours results ...any trades there /
tomthetrader: Thanks JR
tomthetrader: rally
tomthetrader: puts are getting smoked now but maybe Wednesday the place to be ?
tomthetrader: UYG UNCH
tomthetrader: CNBC analyst saying buy pouts on SPY
tomthetrader: puts
(3:13 PM) berniectx: only analyst I trust is TTT with skin in the game
(3:13 PM) Nick_H_SanDiego: yes since the A/D reversed we are in long bias
tomthetrader: Thanks Bernie
tomthetrader: You get a honest loss here !
tomthetrader: maybe a win or 2 ?
(3:15 PM) bocarat-1: for the short time I am here I agree with that Bernie
(3:15 PM) berniectx: been away most of the day no trades for me today
tomthetrader: Thank you ....
tomthetrader: may take a short into tomorrow ?
(3:16 PM) bocarat-1: you deserve it
tomthetrader: 838.50 ?
tomthetrader: short 2 ES
tomthetrader: or go into BGZ again ?
(3:22 PM) mike r_3: hey tom
tomthetrader: Hwy
tomthetrader: Hey
tomthetrader: for those who are not members ...please go to
tomthetrader: we do not want to bounce anyone on trial or that may want to be a part of our traders group
tomthetrader: but we have to make sure you are interested so please let me know ...Thank you !
(3:25 PM) mike r_3:
***** Start Whisper
i mailed the check today
***** End Whisper
(3:27 PM) JR Roden: TTT - you still short here?
tomthetrader: No have been all cash
tomthetrader: (2:45 PM) TraderTim: A/D: +313
tomthetrader: still OK to go long at 829.00
(3:29 PM) JR Roden: I saw this one and thought you went short:
(3:29 PM) JR Roden: (3:16 PM) tomthetrader: short 2 ES
tomthetrader: OK yes we talked about going short ES or BGZ
(3:30 PM) bocarat-1: you can go short now DTI stopped out of those puts lol
(3:31 PM) aszags: Hurray I just closed out my bullish naked feb 62 qid calls at 3.2 that I sold to open at $4. Fifty contacts = $4000. I have done three times since last week entered a bullish position using naked qid calls
tomthetrader: etrader: may take a short into tomorrow ?
(3:16 PM) bocarat-1: you deserve it
tomthetrader: 838.50 ?
tomthetrader: short 2 ES
tomthetrader: or go into BGZ again ?
tomthetrader: Kinda a question ?
tomthetrader: Not a official fill
tomthetrader: I think we end up FLAT
(3:33 PM) mike r_3: asz, do you place a sl when you enter those puts? and if so at what level
(3:33 PM) mike r_3: sorry calls
(3:34 PM) pupster: agreed....those should be incorporated
tomthetrader: yes
(3:34 PM) pupster: eats up capital though
(3:35 PM) pupster: buy pwr
(3:36 PM) aszags: I did the same position as last week. I sold to open 50 Feb 62 qid calls today to open at 4. When the market popped I was able to buy back the position to close at 3.2
tomthetrader: Beautiful
(3:36 PM) mike r_3: do you have a sl in place or use somthing else for protection?
(3:38 PM) aszags: You have to have a lot of capitol to do it. I would theoretically lose if the qid zoomed up to 66 since I got $4
(3:39 PM) aszags: Why Wed especially?
(3:39 PM) mike r_3: right, i understand thanks
tomthetrader: FOMC GDP
tomthetrader: coming and alot of earnings WFC AXP
tomthetrader: AMGN I am going to buy some calls ...just some FEB ATM 1200 bucks
(3:41 PM) TraderTim: A/D: +1045
(3:41 PM) aszags: Remember selling naked qid calls is risky if the market collapsed. You could lose your pants
(3:42 PM) TraderTim: RUT leading
tomthetrader: yes and yes
tomthetrader: Zags that is why Thomas wears a drss ?
tomthetrader: dress ?
(3:42 PM) aszags: yes
tomthetrader: OK
tomthetrader: Have you seen the link dress /
tomthetrader: looks nice on him ?
(3:43 PM) DE_TTT: AXP tonight should be interesting
(3:43 PM) TraderTim: A/D: +736
tomthetrader: yes
tomthetrader: I actually have a call position on AXP too DE
tomthetrader: Positions on earnings long
tomthetrader: MCD
tomthetrader: VZ
tomthetrader: DD
tomthetrader: CVX
tomthetrader: AXP AMGN WFC
(3:45 PM) aszags: I also got in and out of qld when the market collapsed earlier today. I bought it at 25.3 and sold it at 25.75 and ran for the hills
tomthetrader: we missed two decent plays again today but overall a great day
(3:46 PM) Nick_H_SanDiego: Mike, generally selling naked requires 25% of the underlying as margin
tomthetrader: Thanks Nick
tomthetrader: I called for UNCH today ?
tomthetrader: will we get it /
tomthetrader: 14 minutes
(3:46 PM) Nick_H_SanDiego: some brokers, like TOS, are lower, but as zags indicates, it takes a lot of capital to do nakeds
tomthetrader: a/d line has to drop quick
(3:47 PM) mike r_3: could you trade it as a vertcal spread to reduce the capital requirments?
(3:48 PM) aszags: Feb qid 62 calls are starting to move up again. Symbol is qidbj and now it is 3.4/3.6. I am watching but not jumping in again
(3:49 PM) Nick_H_SanDiego: yes the vertical spread just requires the spread btwn prices
(3:49 PM) mike r_3: thanks nick, i have a small account at tos
(3:50 PM) TraderTim: A/D: +936
(3:50 PM) aszags: I am still overall bullish but take advantage of what I think are overreactions both ways
tomthetrader: pretty same here
(3:54 PM) aszags: Tom you played it great today with your shorts and then long
(3:55 PM) Nick_H_SanDiego: that's you Tom!
(3:56 PM) redliontrader: how did u play amex? Straddle?
(3:57 PM) berniectx: TTT the best site on the web...listen to Tom and the Gdansk Hammer, miss him

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