I’m always looking for new option ideas on the best stock picks I can find. I don’t limit myself to just growth stocks or only value stocks, but try to keep an open mind to any worthwhile ideas for good stocks. Since I work full time and trade when I can, I don’t visit a lot…
Author: Alex Fotopoulos
Using Indicators
On most financial sites/blogs I’ve been reading lately I find some mention of the markets’ indicators pointing one way or another. I use Relative Strength Indicator (RSI) sometimes, but not religiously like some traders do. It can be a good guide if/when the line crosses above 70, overbought, or below 30, oversold. I’m not convinced…
DWA Falls Deeper
I wrote three naked puts on DWA nearly a month ago only to see it continue to fall. I still like it long term, but whatever is going against it is certainly punishing the stock in the near term. Maybe it’s the writers’ strike. I can’t find an article that tells me, so that’s just a…
Month End Summary – November 2007
I’m still happy with my returns even after coming off the lofty highs I rode for most of the year. I never claimed I’d be able to maintain such rediculously high annualized gains as much as I’d like to do. What I have claimed I could do and continue to do is beat the major…
PowerShares QQQ Trust (QQQQ) Chart
I looked back on my past two charts on the QQQQ and saw how accurate I was. This is the kind of thinking that makes me lose at blackjack in Vegas. I’m right two times so I up my bets as if that makes my next bet a lock to win. Now I’ve started thinking of…
Time to Play With Gamestop (GME)?
A friend of mine shot me an email yesterday to tell me he was getting in on Gamestop Corp. (GME). I asked why and he surprised me by having an actual answer. (This is my friend who says “You have to have balls to make babies” when discussing his trading model.) He likes it because…
Big Day
Today has certainly been a nice one across the markets, but I’m not jumping back in full throttle yet. In fact, I don’t plan to open any new positions until we can see if this is anything other than a dead cat bounce and a short covering rally. Obviously many traders were short on a lot of…
The Boeing (BA) Flight Continues
Within five minutes of me selling a naked call on BA it rose. I managed to sell at the absolute bottom. I haven’t had such bad luck on a series of transactions in years, so I’m trying to put myself out of my misery now. While BA was trading at 92.26 this morning (up over $5…
Dow Jones ($INDU) Chart – November 23, 2007
Just a few trading days ago I wrote about the upcoming 10% correction for the DJIA. We got that this week and then a few extra points past it to solidify the point and rebounded as I said we would. The remaining question is if the bounce was only a dead cat bounce. That’s the…