Wednesday, June 18, 2008
Closing Bell

OEX Option Results: $2,100 / +42%

eMini Futures Results: Russell ER2 +$260

We certainly redeemed ourselves following yesterday's disappointment in the OEX. Just as yesterday's trade was textbook perfect, so was today's. But, today's of course ended much better.
Trading front month options (June) with 48 hours until expiration carries risk. However, you may have noticed that I chose the 610 ITM (in the money) options for this trade because it carried a delta of -0.50% (basically every point decline in the index the option increases 50 cents). I felt our risk wasn't as great going this route. Had we chosen the 605's I believe the risk would've been too great. In hindsight any of the Puts
would have worked but I make preparations for worst case scenarios ahead of time. Also, looking to the July series just didn't make much sense with large spreads and low volume.
Also, I lessened our exposure by choosing an entry based on a market bounce. I saw support from Dow 12,000 (see earlier comments) and planned an entry based on the bounce I was looking for. Also, I noted that a bounce would be significant and calculated our entry of Puts based on the 12,100 resistance. This was a fantastic trade because it allowed us to buy the Puts while the premiums were be eroded during the bounce.
And, since our target was 50% larger than normal so too was our profit.
That's how it's played; identify an area where you'd like to exit for profits and then find the most logical, low risk entry level. Well, that's what you have me for :-)
The Russell eMini gave us a fantastic return this morning. That's always a great way to set the tone.
Have a good evening and see you tomorrow morning.

On this day our members profited with Put Options

Friday, June 13, 2008
Closing Bell

OEX Option Results: +$1,000 / +23% !!

Patience Pays Dividends. Broken record? Don't care, it works :-)
OEX 614.50 was pivotal today and there's no denying it. We came close to an entry earlier in the day which would have been successful. But, when those plans didn't develop I pulled the signal and moved to the sidelines. Then, we watched and waited for the right opportunity and caught this afternoon's surge. It doesn't get much better than that.
Nice move here in the final ten minutes. Anytime you're near the closing bell like this it doesn't make a lot of sense to consider a trailing position because just about anything can happen. Today it would have been beneficial but I base my decisions on statistics over large sampling periods.
The S&P Futures spiked above the 1357 resistance level and this inflated the call premiums, giving us an excellent opportunity to book profits.
Have a great weekend and see you Monday morning.

On this day our members profited with Call Options

Wednesday, June 11, 2008
Closing Bell

OEX Option Results: +$1,000 +12%

Wasn't that one of the most boring trades we've seen in a while?
Wait a second! How can profits get boring?
Anyhow, patterns repeat themselves over and over until proven otherwise. Yes, you see this statement from me over and over. That's the point! Drill it in where it sticks and you believe.
It was a fantastic day for trading. Not for those who have their wealth in mutual funds and other stock holdings. Ouch.
Can you believe the OEX 60-minute chart still hasn't reached an oversold reading according to its RSI indicator? Could get dicey.
Have a great evening and see you tomorrow morning.

On this day our members profited with Put Options

Tuesday, June 10, 2008
Closing Bell

OEX Option Results: +$800 / +13%

These manufactured rallies just don't have the guts to remain sustainable. Please read my comments earlier on the subject. Learn to recognize these driving forces and see through the smoke. It's really not that difficult.
I was a little surprised to see the Dow fail to hang on to 12,300. However, given the technical failure we witnessed two weeks ago the bias is to the downside. I will be closely monitoring the declining 5-day resistance that I mentioned earlier. Barring any out of the ordinary negative news overnight I believe we will see higher prices tomorrow morning and could easily test this moving average.
Have a great evening and see you tomorrow morning.

On this day our members profited with Put Options

Tuesday, March 25, 2008
Closing Bell

OEX Option Results: +$600 +7%

eMini Futures Results:
Russell ER2 +$240

Patience pays dividends!
What do I mean by that? Well, as you've probably noticed, over the past couple of weeks, we've not traded the OEX options as often as we normally do. Of course, this is due to my cautious approach to the current market environment. There are a lot of people out there losing their tails trying to migrate through these uncertain times. We can and will remain profitable through any and all market conditions because we have proven trading techniques. We adapt to conditions and are quick to recognize change. It's really not that difficult if you know what to look for. I'm always happy to hear your success stories and today I was flooded with instant messages.
The OEX did not reach the overbought reading of 70 on the RSI indicator that I mentioned the past couple of days. That was a surprise. This tells me that the bulls have plenty of ammunition to take this thing higher. Therefore, keep that in mind as we go forward. It seems as though we're due for another round of negative news items. When will the next one be???
Have a great evening and see you tomorrow morning.

On this day our members profited with Call Options

Tuesday, March 11, 2008
Closing Bell

OEX Option Results: +$3,230 +30%

That was a fantastic trade. They threw a huge gap at us and we made the most of it. We had a rough set of trades last week but we've come back swinging and are on top. Patience pays off.

Earlier I received a message from a new subscriber who already booked profits and went about his day. He stated that the things he's learned here are:
1. No over trading
2. Discipline (letting the trade develop)

I know it's working because I hear from more and more newer subscribers all the time who mention that they do things so different now that they're a part of OEXSTREET.COM that they did differently before. They traded 5 times as often and were always at a net loss and couldn't figure out why. Experience pays off and I'm glad to share mine.
Once again, congrats!

On this day our members profited with Call Options

Monday, February 25, 2008
Closing Bell

OEX Option Results: +$1,000 +13%

I had an interesting question today. It was interesting to me because I feel redundant most of the time repeating the same things over and over. Obviously I believe in what I say but I guess sometimes I feel it may be received as "we get it already" !!
But apparently it doesn't always sink in so repetitive observation and attention grabbing will continue :-)
Anyhow, the question was regarding my statements early on about pulling back to the 50% retracement level. Specifically, they wanted to know why my bearish position had changed to become positive. I responded with a comprehensive question (as I always do) asking what it was that made them believe my position had changed.
Their response was us entering into a Call option position.
My response was simple: I made preparations for all of us to enter into Call options should the market decide to become bullish. It wasn't a prediction that the market was going to spike higher. Don't let anyone fool you into believing they were able to predict that surge. Sure, it would probably help me from a business
perspective to say I magically predicted that move but I give my readers a little more credit than that. Besides, we don't have to make things up to be successful. We use proven patterns that work over and over and we simply apply risk management. It really is much simpler than people believe.
But they're taught to believe it's a complex process so they fill their charts up with dozens of indicators and they try to spot things that don't exist and wonder why something that worked last month isn't working this month. I think you get the picture.
It's about making preparations for what may occur rather than predicting what is going to occur. By doing so you are by far in a much better position of succeeding.
Have a good evening and see you tomorrow morning.

On this day our members profited with Call Options

Tuesday, February 12, 2008
Closing Bell

OEX Option Results: +$1,500 +33%

Most of you are aware that I approach trading in a much different manner than most. But then again, I'm successful at what I do because I understand what it takes to identify low risk opportunities. I say this quite often and I'm going to say it again. Low-Risk opportunities do not occur EVERY day and they certainly don't occur 3 or 4 times every day. That's why we average 3 trades per week while the "others" are pumping out 3 per day.
I'd love to day trade the OEX 3 times per day and win on every trade. I just haven't found anyone who can show me how to do it because it can't be done. I appreciate those of you who have adopted this approach. It goes against what others are trying to teach about day trading but they are interested in only one thing, and it includes 16 digits.
Have a good evening and see you tomorrow morning.

On this day our members profited with Put Options

Friday, February 8, 2008
Closing Bell

OEX Option Results: +$680 +15%

eMini Futures Results:
Russell ER2 +$30

It was a great day of trading the OEX. We've now traded three OEX signals this month and we're 3-0. Even during periods of extreme uncertainty and volatility proven trading patterns work, if you know what to look for…
Have a great weekend and see you Monday morning.

On this day our members profited with Put Options

Wednesday, February 6, 2008
Closing Bell

OEX Option Results: +$510 +14%

We couldn't ask for an easier day to trade. I urge you to go back and read through today's transcript and print out the charts for future reference. I promise if you do this you will improve your performance which means you will put more $$ in your pocket.
Have a good evening and see you tomorrow morning.

On this day our members profited with Call Options

Are you starting to catch on?
The Dow Industrials opened at 12,257. I said prior to the open that a rally to 12,400 was not out of the question.
Well, we saw the rally to 12,400.
Also, at the same time I noted that if we did see 12,400 that I'd expect to see a great deal of resistance.
Since then, we have seen a great deal of resistance as the Dow has fallen 100 points to 12,300.
I hope this observations are helping you. Notice, they are NEVER after the fact observations. I point these moves out long before they ever occur. But I remind you via illustration of what we discussed and show the outcome because I believe that is a great form of teaching/learning.
Where do we go from here? Well, to lunch for starters :-)
Stay tuned.

Thursday, January 24, 2008
Closing Bell

OEX Option Results: +$100 per contract +10%

It was another volatile session but we all expected this so it certainly wasn't a surprise. From this morning's opening comments: "The charts look very "tired" in the overnight session and we're likely to see a bear raid at the open". We did see a bear raid at the open which caused the S&P Futures to fill the gap but the bulls quickly came to the rescue. We saw another bear raid later in the morning and this is what allowed us to gain 10% on our Put options.
The 629.50 level on the OEX I illustrated earlier was definitely the key area of focus. I opted not to trade additional OEX positions after this profit because the charts were simply too choppy. We'd see a surge one direction followed by one in the opposite direction. Definitely nothing considered low-risk. We'll look to add to these gains tomorrow.
Have a good evening and see you tomorrow morning.

On this day our members profited with Call Options

Monday, January 14, 2008
Closing Bell

OEX Option Results: +$100 per contract +14%

For whatever reason, today's broadcast turned into an educational series. I started out by analyzing the market's internals and the strength seen across the board. Then we discussed the 2-hour moving average and its significance on the morning. Then, once the OEX and 2-hour average 'met' I made the guess that we'd see a pullback to 659 before 663. Well that came true (659.21 just below key level) and then we started to see the market's afternoon advance begin.
Hopefully you gained some insight into today's broadcast and were able to follow along as I made the points of interest. Notice that I determined early in the day that 662.75 - 663 would be an area of resistance and that if we were to consider adding Call options we would need to buy them low enough so that once a rally to that area was seen we'd be able to sell the call options for a profit. Seek your exit points first and your entry will be a piece of cake. Going 4-1 trading the OEX in 2008 illustrates this point :-)
Have a good evening and see you tomorrow morning.

On this day our members profited with Call Options

Friday, January 11, 2008 --

OEX Option Results: +$80 per contract +20%

eMini Futures Results:
Russell ER2 +$240
S&P ES +$200.00

Today's intraday low was 653.05. Today's calculated intraday low was 652.50. That is quite accurate wouldn't you say? Did you notice that the market bounced as soon as the NDX reached the 1,900 support level? Hopefully you're monitoring these observations and learning from them. Also the ES 1406 level I mentioned earlier. They really do work!
I would be willing to bet that a lot of traders felt we'd see a rally when the market bounced near 10:30am. That was nothing more than a fake-out. One that we certainly laughed at preparing for our entry of Put options. It was a fantastic day of trading where $$ was made in all areas including the OEX, S&P, and Russell eMini futures. We're now 4-0 on the Russell eMini this year. This strategy had a strong start to 2007 and appears to be doing the same thing in 2008.
It was one of the more active weeks for OEX signals as well, going 3-1. We couldn't ask for a better start of the year in a continuation of a great 2007 return.
Have a great weekend and see you Monday morning.

On this day our members profited with Put Options, S&P eMini and Russell eMini Futures

Thursday, January 10, 2008 --

OEX Option Results: +$570 +11%

eMini Futures Results:
Russell ER2 +$60
S&P ES +$987.50

It was a pretty nice day for trading. We had a top 5 return on the S&P eMini with a gain of +19.75 point. The Russell eMini system is undefeated this year 3-0. The OEX produced its 2nd win of the year too.
In yesterday's closing comments I mentioned that I expected the Dow Industrials to reach 12,850 by the end of the week (Dow closed at 12,721 on Wednesday) and we actually saw 12,931 today. So yesterday's short-covering helped fuel additional interest today. It was extremely volatile today. Ten point swing on the S&P futures looked like 2 point moves. They were everywhere!
As I said, even bear markets can rally. Investors are starting to get anxious over another interest rate cut. I seriously doubt a 25 basis point is going to do much. It hasn't the last three times. We could certainly expect a large gap opening tomorrow. Which direction? Good question.
Have a good evening and see you tomorrow morning.

On this day our members profited with Put Options, S&P eMini and Russell eMini Futures

Tuesday, January 8, 2008 -- Well we managed to redeem ourselves today with an outstanding Put trade. Do you notice the market declines much faster than it advances? Least path of resistance...
Also notice that today's target range was larger than normal. My analysis indicated that if the 662 level triggered we had a high probability of at least reaching the 659 level so this gave us a greater profit on our initial exit. In 23 minutes we managed to secure a profit of 25%. Not bad work if you can get it.

On this day our members profited with Put Options

Wednesday, December 12, 2007 -- We waited patiently all day before entering a trade this afternoon. Did you notice how accurate the Key Levels were today? They were paramount in getting us into our Put position in the final hour and capturing over 23% in about 15-minutes! Pretty easy trade from a foundation set up but it required patience to get to that area. This adds to yesterday's gains from Call options of +10%.

On this day our members profited with Put Options

Wednesday, December 5, 2007 -- We took advantage of today's gap higher open by positioning ourselves in OEX Call options. It didn't take long before we were able to sell for a gain of +14%.

On this day our members profited with Call Options and S&P eMini Futures

Tuesday, December 4, 2007 -- Despite this narrow trading range, our S&P eMini system posted yet another stellar result. With today's 2 winning trades, that brings our cumulative total to +27 points in December. We're only on the 2nd day of the month! This trading system has been on fire. My records show we've gained +190 ES points over the past 90-days. We are definitely trading during a fortunate time.

On this day our members profited with S&P eMini Futures