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Strategies & Market Trends : Chart Formations

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To: Casaubon who wrote (815)	6/22/2005 12:55:29 AM
From: sean sanders	Read Replies (2) of 967

Here are some trades I have done recently ... 6/21 AGN 1. bought AGN 90 calls for .45; I really liked the way the chart looked ie very nice dbl bottom on the daily; nice gap with volume with some congestion then a break from the daily dbl bottom trendline. I choose to buy near the open just because I wanted in the stock and didnt want it to take off from me. 2. I didnt risk much of my portfolio because I knew I was buying OOM (out of the money) options 3. I didnt have a set stop loss in mind when I entered the trade (woe is me :); If the stock hit 83.5 I would have most likely exited but then again a .45 contract wouldnt be worth that much if the stock dropped 2 points. (so this was basically a gamble trade and trading on 'faith' (if there is such a thing with trading); that the stock would go higher. I'm looking for the stock to hit 91~ VLO 1. bought VLO 75 put at 1.35; I got in near the end of the day because I just had gotten out of a poor trade I did ie INTU calls and wanted to get that money back into the market and this was on my watch list; ie nice dbl top or 2b top; shooting star candle pattern the previous day and we were having a nice down day today; also we have the potential to fill the gap of gap down in the future again. I also wanted 1 put in my portfolio since the rest of mine were calls. 2. I bought a fair share of the puts since the price was 1.35 and I potentially could get out if the stock moved against me without losing much. 3. stop loss was above 80; This was a risky play also since I was more in nomands land on the chart; looking for the stock to hit 76 or 74. Still in FNM here; not sure what well do since we hit the resistance.

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