SUCCESS STORY

Hi Jerry,

My name is J.J. and I am currently taking your Options Basics course on Wednesdays. I was checking out patterns at the end of July before our class had even started. I had read Jesse Webb’s Option Magic book and knew a little about ABC patterns.

I saw that TIE made a move starting on 03-09-2009 and ending on 06-11-2009. It was a 185% move from 4.04 to 11.52. An ABC pattern formed between 06-11-2009 and 07-13-2009. I didn’t know it at the time, but since we have been talking about Fibonacci retracement levels, I see that it retraced exactly 56.4% of that move. I watched it for a while and then bought two September $7.50 calls on 08-04-2009 for $1.50 each. It chopped around until 09-02-2009 where it began a strong upward move. I put a trailing stop of .10 under the bid price this morning because I knew I would not be able to monitor it closely. I ended up making a 44% profit when I was stopped out at $2.38 this afternoon.

I am absolutely loving the class and learning about your option trading techniques. Looking forward to next Wednesday. Thanks for your great instruction.

JJ