Will 12,000 on the Dow Hold?
Posted by
Jeffrey Ziegler in
Uncategorized on
February 23, 2011 |
9 responses
Its been quite a sell off the last couple of days.
Is this just another buying or selling opportunity if you’re a savvy spread trader?
Hint: “Two days does a trend not make”…. Confirmation has not shown itself.
Love to hear what your plan is if it does… and even if it doesn’t.
Leave a comment below and tell me about it.
Have a great day!
Jeffrey Z
9 Responses to “Will 12,000 on the Dow Hold?”
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Buy a second month out 80+ delta put at 12090. Wait for test of 12000 and sell if bounces back above 12025. Trying to get a quick .30 -.50, or if 12000 doesn’t hold a bunch more. Target of 11750-11800 and maybe more. If 12000 holds with confirmation sell front month put spread just below 12000. Shouldn’t take more than another couple of weeks for Libya to shake out. Big question mark is does it spread to other countries that are big oil suppliers.
Excellent…Love what you’re doing.
Could this just be a reaction to the Libyan Oil news??
My guess is you’re looking for confirmation by a bounce off support or a volume driven break…
What is the symbol on the think or swim platform for the DOW?
Hi Michael,
Jeff here… use $INDU. That’ll work for you at TOS.
Have a good one!
Dave,
You read my mind or you must have been a member of my membership site!
Jeff
Jeff, Thank you for posting this! This is a great reminder about a couple of things: 1. TRADE your PLAN! in your plan, when you entered the order, the USO option wasn’t worth more than $1.10. you didn’t chase it, you were letting your plan work for you. 2. Don’t let your emotions run you! By seeing what happened and having the discipline to not chase, you continue to trade another day. Instead of focusing on “what could have3 been” you are focusing your attention on what ACTION you can do now. Which is find another trade that fits your plan. IF, we can all trade this way we will all be much more successful!
If only???? Welcome to Trading I guess, Win some, in this case I can’t say Loss some, but A BIG ONE did get away. Don’t chase it but let’s see if it has the power to make it to the next Res. level & 42. Will it, who knows, If it does but can’t break through, I’m thinking Bear Call? then a Pull back to 39.5… We’ll see.. What’s your thoughts??
Steve,
Love it if it stays above support of 39. First upside target is 41.50…if it breaks there 45.
Jeff