Stops

Stops are a part of managing risk, as well as the size of your trades. Just because you have a big trading account, that does not mean you're to take big positions. If you do not have the knowledge, skill, risk management, and discipline, it's best to NOT trade with any real funds until you get that.

With that said, I'm in bullish positions for the following, and my stops will be:

CME


- Looks like a triple bottom or a W off a trend support, bullish

- My target is 600

- Since mid-May, it's been in an upward trend, though, some fairly nice pullbacks

- Since CME and the market has been a little crazy, going to jam up my stop in case it decides to come back down and I have Aug options, so time value is diminishing

- Stop at $570 (this will give me a small profit)

- $1 Trailing Stop on the stock at $586, just in case it decides to try for $600. Yes, this is a bit far away from $600, but the market has had some big moves. The last time I set a trailing stop on a call position at $592 and it didn't go quite there to reach it, so, this is a just in case. This is $12 from where it closed today, so if in the morning it decides to just reach up in that area and pullback, I'll be out of the position.

RIMM

- It did break the downward trend it was in 3 days ago, however, the last 2 days have been overall bearish.

-The past 2 days have been sideways.

- RIMM often gets in these rectangular consolidation patterns, and sometimes they can last for 3 weeks.

- Just looking at only the price chart, it seems a stop in the $213-215 range would be good.

- If the stock closes below the 20 EMA, this would be reason enough to get out. This would be at a slight cost to me as I got in about $216. This confirms what I'm seeing on the price chart.

- MACD/RSI look to be turning from oversold to possibly finding a support here, but it hasn't quite made that turn yet.

- Momentum indicators show slowing down, and perhaps an indecision period. No point in getting stuck here and watching time value go against me.

- $0.75 Trailing Stop at $221.

LEH

- Here's a situation where I set a bracket and got triggered for the upside. Apparently when I got triggered, that was near the high and the stock came tumbling down not too long after that.

- Had an alert last Friday set for $56 to get stopped out and was doing okay with the position, though it was getting close, until the last 2 hrs of the market, where it dipped below. Waited patiently, without hoping.

- Today, I did not have an actual stop placed (breaking a rule of mine) and wanted to see how the market was going to respond. IF it was going to further tank, I was getting out. IF it decided to rebound, then I would keep my position.

- There were 2 trend supports and these were right near the area, so I wanted to give it room to work.

- My other technical indicators showed it was possibly reaching a oversold, but it hadn't quite yet made the turn.

- Today's candle is a hammer, which is about a 45% chance of reversal, not real great. An inverted hammer would have a 70% chance of reversal at support. So, we'll see if we are actually hitting a support or just pausing momentarily.

- LEH often trades with the market, but it started on it's bearish move a few weeks early and then the market decided to join in also.

- Stop @ $56.25, just below today's open.

I had done a balloon strangle on AAPL and BIDU with very small positions. I closed out on the AAPL puts with a profit, but I am negative on the AAPL calls right now (because it was so way OTM). All of these I calculated and knew if it did not move huge, these positions would not be profitable. It's the risk I took. Didn't spend a whole lot here, so I will wait until expiration (Aug) to see what it does or get out sooner if it's less negative or with slight profits.

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