Daytrader  TOAD's

Recaps 11 

What a ride today, I thought I had blown it when our Sep 530 puts (OEWUF) dropped back down to 18 1/2. I would have gladly taken $22 most of the afternoon, then the market went with us and we got back to $24!  

We broke a basic rule today, one that we teach in Apprentice Toadster training, and we could have been burned. Those of you who have been through the training - remember: "Raise your sell point as the option price goes up. Don't let it go against you."  

The trade today went against us and I should have cleared out earlier. We are lucky that the market came back down and saved the Toad. Enough school for today.  

GUESS WHAT - The Jacksonville Jaguars are playing again tonight - SO, we are outta here, have to get ready for the game!  

I owe you all bagels, so I'll have them here with the coffee in the morning. See you then!  
     GO JAGUARS! 

That's it for tonight, be here in the morning and let's do this again. 

I sold the Sep 530 Puts (OEWUF) at my 11 1/2 sell point. Had I been here... well they did go higher, but I probably would have sold at 11 1/2 anyway. Only $442 profit because I was a chicken and only bought 5 contracts. (Cheep.)  
Hey, the Toad wasn't real sure where this sucker was going today - but it sure looked like it was going to go lower.  

You did a good job today and earned your Friday bagels back, I'll buy the bagels.  

I had to go to Physical Therapy (still related to the 6/5/98 auto accident) and you did a lot better job today than you did yesterday.  
So, I'm updating the site and we will be here in the morning - see you then. 

They just hit $16 and will probably go higher.  
Do I want to hop into these suckers again? Maybe the 530 puts?  
I'll let you know when we hop again. 

We are FLAT and looking. 

No bagels for you on Friday!  

What are we gonna do in the morning? I'll be here - see you in the am. 

After Mrs. Toad reminded me that we would be away from the market most or all of Tuesday, I looked at dumping them and walking away with $100 profit for the day.  

Nah, I'm going to count on the Toadsters to watch this position tomorrow and make some money for us.  

So, It's up to you people to make this right - Thanks in advance for your support - if this works out, I'll buy the bagels on Friday! See ya. 

I'm putting a 15 1/4 sell point on the open Sep 535 Puts (OEWUG) and hope that they don't TANK.  

I'm counting on you all to watch the market for me tomorrow. Slight possibility that we might be back in the afternoon - I'll let you know if we get back. 

The secret of success is sincerity.    
Once you can fake that, you've got it made.   

Note: I never mentioned the president this time.

There was money to be made today, BUT if the market goes against you, you have no time to recover.  
Several of you have asked why I don't start trading the next months options during expiration week - just never have. I always look at the premium and stop there.  

So, I was here all day (honest) and we didn't go over 100K yet - how about NEXT WEEK?  

That's it for now, for those of you around Kansas City - our JACKSONVILLE JAGUARS  will be in town Saturday night!  

Not saying anything else about the President  Just not going to say a thing.    

Well, we are up $9,917 this month and $3,475 this week. Have a great weekend, see you Monday.  

The Aug. 535 puts opened at 3 1/2 and are now at 10 1/4. Don't think I would have purchased them this am. Also, the Sept. options are still $16 more expensive than the old ones. We won't be able to complain next week. 

Drew Robertson at ABS Live says the "Flight to Safety is Full."  

Interesting day - we usually have a lot of volatility on OPTIONS EXPIRATION FRIDAY - but this is ridiculous. Stay tuned... 

 
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