mikeffi
Long

Time for precious metals to shine again

BATS:SLV   ISHARES SILVER TRUST
447 17 0
Long call opportunity for a move above last nights close
I think you are too early
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mikeffi
4 years ago
Agreed not in yet..waiting for next move up
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QuantitativeExhaustion PRO mikeffi
4 years ago
I'm waiting for further consolidation and or slight downward momentum with consolidation.

background...

SLV Triple Bottom?
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QuantitativeExhaustion PRO mikeffi
4 years ago
SLV Triple Bottom?
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mikeffi
4 years ago
Hey JR see your thinking for a longer term trading idea...much depends on individual strategy choice of course(as always)..with increasing volume with the rise in the last 4 sessions and break through confirmed (although i will wait until after first hour) and short term EMA's crossing, this looks good enough to me for a bought call position expiry march looking for a 40-50% ROI with a move up towards $31. Position sizing slightly smaller than i would usually do but a sharp move up may be a chance to accumulate. And of course which ever way you slice it..exit is what it is all about really so even if this were to turn around its not a twitch, be interested in learning more about where you are coming from..mikehorizon@facebook.com if you want to connect there too and drop me a message..have an awesome trading week buddy
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QuantitativeExhaustion PRO mikeffi
4 years ago
I'm still here. I'm looking at these cheap options near term and long term with a much bigger punch than a 50% return. I'm trading weekly options in February (this is when I'm expecting a volatile move to the upside before the debt ceiling through late February) and March calls 34 or 35's for a 10 - 15 bagger. This is counter trend, because shorts are piling in expecting a move to 25 before the debt ceiling deadline. They'll be right eventually (mid March/ early April), but not until the throwback to near 33. As I present in the chart along with several other TradingView technicians.
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QuantitativeExhaustion PRO mikeffi
4 years ago
Also please vote or leave a comment. TradingView does work fast if there is an audience .

Real Time Option Quote / Option Chain Display
https://getsatisfaction.com/tradingview/topics/real_time_option_quote_option_chain_display
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mikeffi
4 years ago
OK Im in at $30.21 on underlying Mar30 $1.30/share..voted and liked the idea of an options chain..back the concept ++. Like the thinking of the weekly further OTM for the bigger punch..may give that a nudge on a break of $31
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QuantitativeExhaustion PRO mikeffi
4 years ago
Well, I remain on the sidelines. Thanks for the vote. Need to find other option traders to "like" this.
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QuantitativeExhaustion PRO mikeffi
4 years ago
 
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mikeffi
4 years ago
Just to contend something below as this sort of discussion is important..you state that this is the view of trading view technicians and yet your argument (which may of course be valid) is based n fundamental events which from a technical point of view are yet to show up. If trading what you see rather than what you think is the right approach (and i am sure you would agree in your experience that it is,..then the entry albeit quite simple suggested above does adhere to that principle more closely. In terms of my investing approach I would not disagree strongly with your largely fundamental idea, logically it could play out but in this situation as with many the "thinking" component is what we sue to determine strategy selection..if your belief is that the stock will go up to $33..a 31.50/32.50 bull call spread would be cheap as chips, offer the return you appear to be after and at the same time cap loss significantly
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mikeffi
4 years ago
Particularly work well with the feb series as you previously suggested
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QuantitativeExhaustion PRO mikeffi
4 years ago
I need to know the fundamental and social emotional catalyst that will trigger the event to piece the 3D technical puzzel which matches my speculations. That is how humans, not computers, deduce and arrive at a speculation.

As far as bull call spread now, would be jumping the gun. I have to time this position with evern lower volatility and stock price to maximize my gains. Hopefully this is a 10 bagger or more with 34/35 calls trading for a few pennies. So far everything is going as planned I have two more weeks to wait for this position. If i were to take posistion now, it would be for a long Feb. 27 Put. I can't sell options in this extremely low IV environment.
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mikeffi
4 years ago
It seems unfortunate that there is no acknowledgement of the possibility of anything been a sound trade if contrary to your idea..I must disagree trade what you see not what you think remains and always shall be the cornerstone of any traders success..your entry/exit is determined by this..the only certainty in terms of sentiment is what you see in front of you..By all means have the idea and choose a strategy that has less risk in max $ terms (but then of course that depends on your position size) and nothing wrong re. waiting on the sidelines to see if your guess turns up in the reality of what the chart tells you in the now. Trading is not nor should it be as potentially complicated as you are making out, for the more complicated (and this is complicated not sophisticated) an idea is the less easy it is for someone to follow through on what they MUST do in a trade which we all know is the reason why most trades fail..whatever you enter and why, no-one went broke on an entry decision...it is what you do next that destroys capital, confidence and ultimately any purpose you have for trading. No-one mentioned selling options - so you wouldn''t trade it so why mention it? Good luck in a couple of weeks i hope it works out for you
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mikeffi
4 years ago
Closed at target of 40% on $31 underlying target as below. ready to go with Put if break of $30
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mikeffi
4 years ago
JR..ready to take advantage of your anticipated move down :-) Hope your trading week a good one buddy
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QuantitativeExhaustion PRO mikeffi
4 years ago
It sure was called the Gold/Silver tops and have been riding them down.
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