Tuesday, February 1, 2011

Futures Point to a Higher Open...BIDU Gaps Up After Earnings...

BMO – ES +8.00 and NQ +15.75 futures are higher about 60 minutes before the open in pre-market trading and point to a higher open …

TLT is down 62 cents and the Euro is up 60 pips in premarket trading and is above horizontal resistance…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and PCLN are higher in pre-market trading…BIDU is gapping higher following earnings…

Dave’s Insight for Tuesday: Look for re-entry according to your rules.

Continue to follow key earnings releases and the opportunities they create.

SPX
Resistance: 1300
Support: 1,281, 1,271, 1,256

Quoting Down – TLT, DISH, HAS, HOLX, TEVA, SHLD

Quoting Up – BIDU, GOOG, PCLN, BIIB, AAPL, NFLX, WYNN, SINA, POT, LXK, FCX, FDX, CMG, DE, WLT, SOHU, GS, CHL, MOS, BA, CAT, LVS,SLW, CLF, X, CRM, SNDK, AGU, PCX, UAL, FAS, VMW, V, FWLT, TSL, CRUS, CSTR, STI, MCD, TBT, AKS, AMZN, JOYG, CHKP, MICC, BRCM, ISRG, FFIV, QGEN, AKAM


Dave is teaching an Advanced Options Workshop today.
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10 comments:

Anonymous said...

Hi Dave,

It's Peter. You know the famous half strangle trader. I got Bidu on the half strangle. Thanks for all you do!

February 1, 2011 at 5:43 AM
Judy said...

Good morning DAVE! Rules are good. Thanks for your encouragement. I really appreciate your blog. Have a great day. Judy

February 1, 2011 at 5:53 AM
linven50 said...

Hope you stay warm in Minnesota! It is cold brrrrrrrrr here in Dallas! Hope you can get a flight out before the worst hits up there.

February 1, 2011 at 6:14 AM
Tom said...

Hi Dave, After first month basically on target. Thank for all your help!
Tom

February 1, 2011 at 6:27 AM
Anonymous said...

Lost 2% in January. Hit 6 targets vs 15 Stop Losses. Trades are grading out as A's and I am following my rules.

Dan V

February 1, 2011 at 7:53 AM
Annie said...

Hi Dave,

Thanks for all your posts and encouragement! At your suggestion, I set a goal for improving my %return for the new year. Finished January and am ahead of my goal so far. Thanks for reminding me of the things I know, but need to hear constantly!

February 1, 2011 at 3:43 PM
Scott Avery said...

Thanks Dan for posting your realistic numbers. Dave, I will share with the group my numbers for the 100 paper trades according to the stick 4 day live rules. So far after 39 completed trades...24 hit target (61%)......12 failed (31%) and 3 mistakes/wrong orders of some kind (8%). Out of this 50K paper account my first month was down $1,000 Now after two months it is up $5070. I will keep you posted each month.This is so exciting. Would like to hear other stats. on how the rest of us are doing, either real or paper. Scott

February 1, 2011 at 6:27 PM
Anonymous said...

Scott,

Congratulations on your success! Which rules have you found to be the most beneficial?

Dave--thanks for all you do for all of us!

February 1, 2011 at 6:35 PM
Scott Avery said...

Dear Anonymous,
By far the main two strategies I have used are #1 swing/flags to the upside and #2 breakouts to the upside. My first month (jan.) I had more losers than winners. And particularly in my down plays even when the market was going down. I found that #6 breakout to the downside worked a lot better for me than #5 swing/flags to the downside. it was hard to find bear flags that would follow through, even on days when the whole market would go down. But the plays that did work to the downside were, as I say, the breakouts, where the stock seemed to be consolidating sideways after coming down just slightly. And I wasn't sure if it's next move would be up or down. It's a real eye opener that I had 3 wrong entries so far that I either had a duplicate order, or wrong order, or didn't make the correct adjustments to plays that were still in the machine but not filled yet each day. It has really taught me a lot and I'm so glad to get all that out on paper. Dave knows Exactly what he is doing when he says to do 20 or more practice trades first on each one. I also did practice trades even on the same trade that I did real ones. I noticed that it was easier to not worry as much with the paper trades and some I just put on without a second thought, where as my real trades I'm more cautious depending on what "I Think" the market will do. So I can see I've been trying too hard in a way. The more I go back and forth I'm noticing that my paper trades and real trades start to feel more and more the same. No emotion....just strong interest ! Hope that helps......Scott

February 1, 2011 at 9:28 PM
Anonymous said...

Scott,

Thank you for the thoughtful reply. I appreciate it.

February 2, 2011 at 11:30 AM

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