Riley's Forex Futures and Options, Lets not blow up Acct.#3

[RileyR569]

AMZN might close today under 108.3 today.
I can understand pegging to this 128.5-.8 area though.
Seems prime place to keep profit from downside protection bought from sold 125 and 130 calls.
(All the covered 125 and 130 Calls that were sold a a week or two ago.) especially now with the P/C ratio down to .64, it sounds right.
Didnt run think-back though so i dunno for sure.
So just guessing how much premium was on them 2 weeks ago i can imagine that being right.

[RileyR569]

Dunno whats going on with AMZN.
They might try to peg it into 130.

Possibly one more tap of 131.3. I might pick up one more put if it does tap monday on the open. Be a good place to lower my entry +25%
Assuming 131.3 holds. If it doesn't i'll stick with my put i have now. This thing will drop eventually, or i'll be out $380 which ever. I think theres more pullback to come in the markets over the next week. shooting for 1060 or 1070 SPX.

Not to worried on AAPL.
It'll fall with the markets when they do.

Im going to disreguard most of today's data, AAPL and AMZN are being manipulated to fit the hedge funds agenda's. Hopefully thats the cause of the high volume on AAPL.
Just means when that volume turns to selling monday for the funds dump, we fall harder.
Im set on filling AAPL's gap next week.

[RileyR569]

MICC broke that trendline yesterday.. But would you look it up...

$75 and change. I imagine it holds into the close.

Might be the most accurate call of my career.

[Rossj711]

Originally Posted by RileyR569

MICC broke that trendline yesterday.. But would you look it up...

$75 and change. I imagine it holds into the close.

Might be the most accurate call of my career.

Looks like MICC might have a chance, it's tugging healthily pretty comfortable above the 50MA so I'd say there is hope. It does appear to be a cyclical stock in the behaviorism so since I don't know anything about the company I'd say technically watch it carefully as it becomes more oversold to see if it can hold above the 50MA.

[aznaro8]

Hey Riley what caused that ugly drop on MICC? I know nothing fundamentally about this company, but the chart shows it's running out of steam on this rallying, looks like a possible good Put play

[beehivesjoe]

MICC is very overbought also.. the macd also has been ticking down

[RileyR569]

Yeah MICC just likes to bounce back and fourth from 60-80 it seems. I wouldn't enter puts anytime soon though as im already short in two positions. Maybe in the coming days though, Let it play out a little to see where it wants to go.

I was just happy with my 75 prediction for exp. though it did get pegged just below. a big FU to the 75 call holders.

Defiantly something to keep an eye on though.
Fridays trading was all pumping to protect positions on exp though.
AMZN, AAPL, MICC, RIMM.
All peged just below round numbers.

Next week when all the shares bought up friday are dumped throughout the week. We should see red all over..

I think I'd rather enter RIMM short that mess with MICC, dollar reward potential, chart looks better too for going short too. Also the options are much more liquid on RIMM.

Friday might have been a good put entry on RIMM but i think it was better to wait for a conformation of the downward trendline's strength, or a bounce off of resistance. 65 would be an awesome short entry, but im doubting it will get over the 61 area.

Bout to head off to bed and hopefully wake up to bloody red futures.
Currently up 3.25pts SPX futures, Might be hedging for short positions.

[RileyR569]

Ouch.
This open isn't going to look pretty.
Just hoping we sell off into the close. Dont see it happening though, Looks like AAPL and AMZN might open above resistance levels.

[RileyR569]

Should have hedged over the weekend.
AAPL is no longer profitable and AMZN is getting near the point of no return(options price), not the stock.

Holding for now... Cant take too much more of a beating. Might be one of the days to fool some bears before the leg down. Only time will tell.

[murphmack]

Originally Posted by RileyR569

Should have hedged over the weekend.
AAPL is no longer profitable and AMZN is getting near the point of no return(options price), not the stock.

Holding for now... Cant take too much more of a beating. Might be one of the days to fool some bears before the leg down. Only time will tell.

Fool the bears? Fool the bears????

http://finviz.com/quote.ashx?t=aapl

http://finviz.com/quote.ashx?t=amzn&ty=c&ta=1&p=d

You must not be seeing the same trend lines and price action that I am seeing.