You are viewing the chat in desktop mode. Click here to switch to mobile view.
X
Live Chat
powered byJotCast
Prev Page View Full Chat Next Page
Mentor Mike
10:29
Definitely.  The 30/30 rule is a good guideline, but nothing is ever 100% in trading, obviously.
Rick Berry
10:28
XLNX is a good warning that not all 30 in 30 give a correct pre-earnings signal.
10:19
Sector leaders currently include PANW, PAYC, SSNC, VEEV, MTZ, ANET, AMZN.
10:18
A good alternate to leaderboard is to look at sector leaders under stock lists at investors.com.
Mentor Mike
10:17
We usually just use the put credit spread, but at times you can add a call credit spread on the same stock as well.  (Having a credit spread on both sides is called an Iron Condor)
Patterson
10:17
Are SOBS both put and credit spreads
Mentor Mike
10:16
Thanks Ray!
Ray
10:16
Need to have market smith to get them
Mentor Mike
10:15
The SOB is our Sleepover Bandit trade.  We screen for these low drama days and stocks and setup a credit spread for a day to day and a half.  So placing the trade Thursday using options that expire the next day.  The time decay works in our favor and we can make some nice gains overnight
Tim
10:14
Will Preston define what an SOB is?
William
10:13
Try a Chrome browser
Mentor Mike
10:13
I had been trying to reply privately to you "Guest", but it doesn't seem like the private messages are coming through
Mentor Mike
10:15
Try using the 'https' version. click: https://tradersedgenetwork.com/phoenix-livestream/watch_live.php)
10:12
Can you try another browser?  It seems to be working just fine for everyone else
Guest
10:12
i still can't hear or see anything.  very frustrating. also no one has repled to my other requests that i can't see or hear anything.  The browser says that the content was blocked because it ws not signed by a valid security certificate.
steve
10:10
forexfactory.com does the same thing as briefing.com  free
Mentor Mike
10:06
I'll try to make sure he covers trading the call spread and the put spread... I imagine he will cover it, but I'll try to get this question to him if he doesn't
Steven B
10:06
Are we going to discuss a call spread on the SOB
Mentor Mike
10:03
Briefing.com -> Calendars -> Economic
10:02
Yes I will have the slides emailed out to all of you.  Also, remember you will all get access to the replay of the event so you can go back through and make your notes
Sherry
10:02
Mike can we get a copy of the slides?
Mentor Mike
10:00
Yes exactly Lee.  Having both the put spread and the call spread does give you a little "hedge" if it moves through one of those spreads.
Lee
10:00
If your stock goes south, that is another good reason to do the complete SOB..ie iron condors.  One leg protects losses from the other.  I close these much like payday swings.  When they behave, you are very happy.
Mentor Mike
9:57
Thanks Rick!  I didn't see his update yet...
Rick Berry
9:56
Preston mentioned what he did on NOW and MMM by e-mail.
Mentor Mike
9:56
That's great Cindy.  As long as the stock moves in the direction you need it to it can be a great way to fix the trade.
Cindy
9:55
I have just rolled it out one week & actually have good luck with that method if it went sour initially.
Mentor Mike
9:55
I think he's planning on placing a trade or two with the group... stay tuned!
Jim M
9:55
is he going to offer one to try SOB, I'd like to try it.  thanks
Mentor Mike
9:54
If it is out of the money, we can just let it expire worthless and we don't need to close it.  If the trade does move against us we want to close it out before the market closes... I prefer at least 30 minutes before the close.
Guest
9:53
When on Friday do you close trade or roll over?
Mentor Mike
9:53
So Hank, just to elaborate, the point of closing half is just to cut back on the position size and risk.  Creating the "Mini Money Press" gives you a little time to make back any loss
9:50
Hank, Preston should be elaborating on this now.
Hank
9:50
SOB Recovery:  If it goes bad, why close half of the position and roll half?  If closing the position is optimum, why not close 100%?  If roll out is optimum, why not roll 100%?  Why half n half?
Mentor Mike
9:50
Great feedback Lee.
Lee
9:49
I have been trading the ones where I get 8 to 10%, but focus on $2.50 spreads vs. $5.00.  Much less risk.
Mentor Mike
9:41
Jim, the Payday trades are placed on stocks not on an index.
Jim Striebel
9:40
What stock is she doing this on or is it an index?
Mentor Mike
9:40
Rose M - Canary Tickers are:  AAPL, AMD, BAC, CHK, CMSA, CSCO, DWDP, FB, INTC, MSFT, NVDA, T, WFC
9:34
For SOB's, we like:  triple digit stocks, low volume on Thurs, low drama market wide
Connecting…