MG, Re: A New Era
This is an effort I really can support. At least to the extent of my limited abilities and resources to do so. I look at covered calls as playing the casino. I always wanted to be the casino. When I see the stats on the number of these that expire worthless, it makes me want to stop playing blackjack.
Do more than bookmark that site. You would be amazed at some of the premiums for options expiring in a week. Unfortunately, I've never even heard of most of them, and I stand by my assertion that we need a northeasterly to make it worthwhile in the long run.
I was watching CSCO a couple of days ago -- just watching as I was still in the penalty box. I had support at $52, and it went thru it like it didn't even exist. Then on the way up it hit $51 15/16 and immediately headed back down. It really isn't fair when it doesn't work as support but operates as resistance.
I've never been good at this technical gee-wiz stuff. My first computer (4 floppy drives) sat in a corner for almost two years and I called it my status symbol. I cannot tell you how long it took me to abandon my green eye-shade spread sheets, and go with (at the time) TWIN.
The point is that I never really comprehended that %K/%D Sto stuff would even be different, or adjustable. I am still not real time; however, a couple of packages have gone out to go to MB Trading, and I hope to be real time shortly. You are far ahead of me here. My tech continues to be real handicap to my ability to perform. Bottom line -- I'm using IQC on a delayed basis to make these decisions. If you look at their definition of Sto, which I did after getting your message today, you will want to vomit -- and delayed on top of that.
Clearly, it is absurd, stupid, and insane to try and deal in this Market on a delayed basis. I have tried to deal with the handicap by anticipating support and resistance, but, clearly, Mr Market doesn't understand that we have these neat little trend lines in place that we feel will be honored.
Dude, you are far ahead of me here! I only dream about what you have to play with. I can only try to maximize what I have available to me.
I umpired Little League and Babe Ruth baseball games for about 9 years (some 75 games a year). Now I find them great for posting, as I just watch the replays from multiple angles in slow motion. Always wish that I had slow motion available to me to make the call (and the power to fine anyone that doesn't like my calls). You have do understand that I have no depth perception, so it was a real challenge to play umpire. A different life.
Berney |
