100 FOLLOWERS!!!

We just received our 100th follower! I want to take this opportunity to thank all of you that have been following this blog over the last year. Based on the success stories I receive from you guys on a regular basis, I'm assuming that it has been helpful to you. Keep tuning in...there will be some great things coming!

A POSSIBLE RALLY ON FRIDAY?

If you just looked at the closing price of the DOW today, you didn't see the whole story of the market movement in today's session. We were down as much as 180 points at one time. We were also down as little as 50 points with 15 minutes left in the day. What a wild final 15 minutes! It was really hard to read the tape for that last hour. If you take away the last 15 minutes (the market was rallying hard during most of the last 2 hours), I would think that the buying was strong enough for the market to rally tomorrow. However, you can't ignore that last 15 minutes. I was watching that 1085 support level in the S&P 500 for most of the day. We closed just below 1085 (1084.53 to be exact). I don't know if this is far enough below 1085 to be considered a significant break of support. Here's what's interesting though. When the market was down early in the day, the VIX was barely up. This indicated to me that there wasn't much fear (or uncertainty) in the early morning drop. As soon as the S&P 500 dropped below 1085 for the first time (approximately 11:15am Eastern Time), the VIX spiked up pretty high. This told me that the 1085 support area is pretty significant. We could be in a big win/win area of the market...if you have put options. If we continue to fall below the 1085 support/resistance area, look for the VIX to spike way up and for the market to possibly fall fast...especially at the end of the day. If we are well below 1085 at the close (at least 1080), there should be a flood of sellers looking to get out before the weekend. The next support area is around 1040...that's a huge potential drop! If we end up rallying tomorrow (especially if we rally up to about 1114 or 1117 in the next few days), this would provide a great opportunity to enter into new put option trades. There is enough resistance in that area (1114 to 1117) to believe the market won't break through. That would then mean an even bigger potential fall to that 1040 support area. I've already got my bearish trade on the SPY and the QQQQ. If we rally up tomorrow (or in the next few days), I will look to buy more puts (not necessarily the same strike prices). This is a dangerous market for beginners. I'm not posting this as a low risk trade since I won't be using any stops (at least not on my current position). The path of least resistance right now is down. The market wants to go down. I'm not going to fight that. For those that are looking at possible bullish trades, be very careful. Look for some decent confirmation. When the market drops, about 80% to 90% of all stocks will drop. Those probabilities are not in your favor for bullish trades. On steep sell offs, I will often just trade the market using the DIA, SPY, or QQQQ. The trade recommendations on HOG and BBY have worked out very well. Even that bearish recommendation on BJ looks to be working out (although I was stopped out on that 1/20/10 rally...where did that come from?). We won't talk about some of those bullish recommendations from last week. However, it does provide a great teaching moment. As trend traders, we will always get hammered when the trend reverses. Since you can never know for sure exactly when it will reverse, you need to keep trading it until it does. If you can get good at recognizing the trend reversal early on, you can make up for any losses by trading the new trend. In other words, I've already made up for my losses on those bullish trades last week by bearish trades (in the last week to two weeks) in BBY, HOG, SPY, QQQQ, and DIA...and we still have more room to fall. Remember, it's all about reward to risk baby! Have a great weekend!

WHERE ARE THE BUYERS?

The markets were up for most of the day, but the volume was a little lighter than it had been last week. The last hour erased those gains. When the volume is light on a rally (after it has been high on a sell off), it shows that the buyer are not very aggressive. The light buying is from amateurs who think the market will just go back up, or by professionals that are taking profits on some of their short positions. In a short position, you sell first (or sell to open the position). You borrow the shares from your broker and sell them...first. You then buy back the shares when the stock goes down thus creating your profit (and obviously give those shares back to your broker). In other words, you sell high and buy low...or sell and bring in $5,000, then buy the shares back at $4,000 and realize a $1,000 profit.

There is definitely uncertainty creeping into this market. The sentiment is turning bearish very quickly. This is how quick the trend can change from an uptrend into a downtrend. Hopefully you are learning firsthand how important a sound money management plan is to your long term success. Those that had all their money in call option trades (with no stop losses) are probably looking at February 19th as the day they will officially blow out of their account. This is why I have been preaching for months about the need to keep a larger portion of the account in cash. If you have time, I encourage you to review the blog postings over the last few months in order to see some of the signs that led up to this latest sell off. There is no way to know exactly when a trend reversal will take place, but there are clues that usually allow you to protect your account from disaster. There are many reasons to believe that there is more selling to come. The earnings season has been filled with very impressive numbers, but most of the stocks have sold off on that good news. There are political and economic events that are causing uncertainty on Wall Street. I was expecting a severe drop to start in the second quarter of this year (spring), but it looks like it is starting earlier. The market pause of the last two days could continue for several more days. It is often difficult to know how long a correction will take...as far as time. The sell off at the end of today could spill over to tomorrow and we could be in for another big move down. The 60 minute chart (short term) of the VIX shows an almost textbook bullish ABC pattern. Remember....that would be bearish for the market if the VIX spikes up again. If this is an early stage of a downtrend, almost everything will go down at first. There will be very few good bullish trading opportunities...at first. It is a very dangerous market to trade. If you are new to trading, your best bet is to sit it out and stay in cash. For those that want to take some risk, do it with a small amount of your overall account. I set up initial put option trades on the SPY and QQQQ near the intra day high today (Tuesday). The positions were small in comparison to my normal position size. The idea is that if we move lower tomorrow, I will be able to capture that move. If we rally a bit higher, I can look to buy up to my normal position size and hopefully get the move down a bit later. If we rally higher and it looks like real buyers are back (and the uncertainty disappears), I can look to either stop out of that original starting position or just let it expire worthless. Either way, the reward to risk should be in my favor. I've had some questions about my opinion on gold. I do not recommend that you buy gold right here. There is often an impulsive reaction to buy gold when there is uncertainty in the market. I think that gold has another move down before it might be considered again for a bullish trade. There is also a possibility that gold could have a massive sell off, but I think that move is a year or two away. By massive, I mean that gold could come back down to $700 an ounce. For those that don't think this is possible, you need to take my Elliott Wave course (Course 3) to learn about market cycles and crowd behavior. Using this analysis, I was able to predict the 2008 market crash. Although I was a bit early in my prediction (as you know by now, I'm usually a bit early), I was able to instantly recognize it and trade it when it hit in the fall of 2008. Am I bullish on anything? Yes. I'm bullish on the dollar. You can trade the dollar using the UUP. There are also options available on the UUP. $23.20 is a key resistance area. If we break above $23.20, the UUP could be in for another run.

UPTREND BROKEN

The 50 day MA was broken on the S&P 500 last Friday. This shows a significant break of the uptrend that started almost a year ago. The huge spike in the VIX on Friday shows the increase in the level of fear that the professionals are feeling right now. You need to pay attention to these signals and signs. The drop below the 50 day MA increases the possibility or probability that the trend is reversing. That break of support is a characteristic of a downtrend. The next key area of support is around the 1085 area on the S&P 500. If this gets broken, it could drop to about 1035 before it finds another support area. With the huge selling at the end of last week and the huge spike in the VIX, I expect a bounce on Monday...or at least early in the week. The next support area is 1085. We could get a rally off that area. It could be a huge rally. Look back on some of the trading days during the crash in the fall of 2008. There were 700 point drops that were followed by 400 point rallies. There was a 900 point rally on October 28th, 2008. All of those rallies set up bigger moves down as the crash continued. I'm not calling this latest move a crash. I am pointing out that there could be a fierce rally that just sets up for another move down. The spike in the VIX not only shows a spike in fear, it also shows a likely increase in volatility. We will likely get some huge swings in the upcoming days. For day traders, it will be a late Christmas present. For the inexperienced, it will provide an opportunity to get wiped out of the market...if you aren't careful. Take on a bearish bias these next few days (and possibly weeks). Look for rallies to buy puts. I will try to help with some of the blog postings. This does not mean that I won't still post bullish patterns. This latest sell off has caused many great uptrending patterns to pull back to great reward to risk positions. I will continue to trade great reward to risk trades. I was finally stopped out of SMH, but what a nice move down on HOG. These are both good examples of sticking to your trading plan. I made almost twice the money on HOG that I lost on SMH. That is how you grow your account.

SUCCESS STORY

Guys and gals, Jerry's method is not rocket science. A lot of it is common sense. Now having said that, before I started his class, my loosing percentage greatly outweighed my winning percentage. Now it wasn't that i was always picking bad stocks, most of them eventually went in the direction I had predicted. My problem was I had no money management stragety implemented, and i let emotions dictate my trading. This led to a large drawdown of my account. I now am a firm believer if you follow his methods and have a sound money management technique and STICK TO IT, you should make money. And i can say this because my winning percentage is improving, and my buy and sell signals are now based on technical analysis and not emotion, or what CNBC says.

I bought BBY put options on 1/7, based off of one of Jerry's blog postings. Using the methods he teaches in his classes, i was able to sell on 1/20 for a 65% profit.

Thanks Jerry!!!

Howard M.

Panic?

Is it time to panic? By the sudden influx of e-mails, I would assume than many of you are panicking. The VIX made a huge spike to 22.27 and closed at its high for the day. This would indicate an increase in concern by the professionals. This spike in fear shouldn't surprise us too much. I told you about the key support area on the VIX (at 17) a couple of weeks ago. I've been talking about a possible correction for the last 3 months. Is this the start of a larger correction? If I knew that for sure, I'd never post a losing trade for the rest of my life. When you trade a trend, you must accept the fact that you will lose money when the trend finally changes. Professional traders worry more about managing reward to risk than they do about predicting the future. Many of you may wonder why I posted several bullish looking patterns on the day before the market dropped 200 points. The postings were based on stocks that looked to be in a nice reward to risk position. Even when we calculate the reward to risk, we sometimes forget the possibility of the risk or loss. We can also get caught up in the game of looking at things in hindsight...believing that we should have seen it coming. The S&P 500 is sitting on its 50 day MA. The trend is still considered up. If the trend moves up from here, you can say that the 50 day MA held as support and that you should have known to buy right there. If if the market breaks below the 50 day MA tomorrow, you can point to the spike in the VIX and the huge selling volume from today as reasons why you should have known it was going to go down. Ultimately you can't know for sure what the market is going to do next. I know I say that a thousand times, but I'm hoping that some of you are starting to understand it. Professional traders will tell you that the more they learn about the market, the more they realize that they can't predict the market. Don't focus on what you can't control. Focus on what you can control. What can you control? You can control how much money you risk in a trade. You can create consistency by trying to enter and exit trades based on a core philosophy or system. You can chose to trade or not to trade based on conditions that you feel are in or out of favor. The point of having a sound money management plan is so that you don't lose all of your money on a 2-3 day drop in the market. If you find that you are very upset over a trade that went against you, you need to understand that you did not fully accept that risk. The amount of the risk was too high...and your level of anger is a reflection of that. The higher risk brought with it the potential for the higher gains. The focus probably shifted from the possibility of the loss to the potential of those higher gains. If you did suffer a drawdown over the last two days, don't try to get it all back immediately...especially if you are upset with the loss. Take a few days off and allow yourself to calm down. There will be many opportunities to get it back. This is definitely a time to build your cash and reduce your risk in the market. If the market does continue to fall, you will be glad that you kept most of your money out. It will also give you an opportunity to make a lot more money when it starts to move up again. One area of hope...each of the last big spikes (up) in the VIX has been followed by a rally in the market. I will be watching tomorrow to see if the buyers are strong enough to keep the uptrend going. I haven't been stopped out of my trade on the SMH...yet. HOG reports earnings tomorrow before the market opens. We'll see if it finally makes a move down, or if we get stopped out on that as well. I'm emotionally prepared to accept either result. Have a great weekend.

SUCCESS STORY

Hi Jerry,

I was reading your blog and saw that you asked for success stories. Here are a couple of my successful trades.

I bought 4 Jan 40 TS calls on 12-11-2009 at $2.09. I sold them on 12-29-2009 at $3.50 for about a 67% profit.

I bought 4 Jan 50 TROW calls on 12-15-2009 at $1.90. I sold them on 12-29-2009 at $4.20 for about a 120% profit.

I bought 8 Jan 49 HPQ calls on 12-01-2009 at $1.73. I sold them on 12-18-2009 at $2.29 for about a 32% profit.

I just finished the Advanced Options course. It was just as informative and packed full of essential trading concepts as the first course.

Thanks for your fantastic instruction and willingness to answer all my questions. It is greatly appreciated.

JJ Milton

SUCCESS STORIES

I need to post some success stories!! Please send in a success story if you had a successful trade or two over the last few weeks. Thanks for your help.

Also...If you are new to the blog, please join the Followers section. We are at 90 followers and I'd like to hit that 100 follower milestone soon. I might plan a bonus class for blog followers when we hit that 100 number.

BUYING INTO THE CLOSE

I'm looking to buy some call options into the close today. The S&P 500 has rallied off its lows (which happens to be at the 1130 area on the chart...the support area I mentioned last night). This is a nice reward to risk area for some bullish trades. I still like the patterns on BAC, ESRX, and AET. You could look for more confirmation if you like, but I think a stop below the recent lows would provide a great reward to risk for these patterns. I also like call options on the SPY or DIA. There's no guarantee these stocks will go up. I just like the position they are in and the reward to risk for the trades.

Hold off on BJ. It blew through that strong resistance today. A good example of the wisdom in using confirmation. A 10 day MA works well for a simple confirmation tool.

STX had a nice earnings report and I love the bullish pattern. WDC reports tomorrow and the pattern is also pretty good. Both of these could possibly pull back a little bit more before going up, but the reward to risk is pretty good right here.

BUYERS ARE BACK...AT LEAST FOR TODAY.

The buyers did come back today, particularly in the tech sector. CREE had a good earnings report and was up almost $6 in after hour trading. This could rally the SMH tomorrow. It was nice to see a move up today in the SMH. I probably won't get bullish again in the chip sector until the SMH closes above Friday's open. AAPL was up $9. IBM took a hit after they reported after the close. It will be an interesting day for tech stocks tomorrow. HOG rallied up a bit today, but I think this only gives you a second chance to get into your put options before Friday's earnings report. With the election results in Massachusetts, look for healthcare, pharmaceutical, and biotech stocks to continue their rally. I like the patterns on AET and ESRX, . For a nice bearish pattern, look at BJ. They don't report earnings until March, but that is a beautiful bearish ABC pattern with a lot of resistance. Watch BAC. They report earnings tomorrow (Wednesday) and they have a nice bullish ABC pattern finding support at the 50 day MA which is rising. For clarification...that would be a bullish trade on BAC. We are at the resistance area of a range in the S&P 500. The shorter term range is between 1130 and 1150. With this small sideways trend, the odds are high that we will get at least one more move up. If we happen to move down to that 1130 area in the next day or so, get ready to load up on some call options to take advantage of this possible break higher. If we break higher tomorrow, I might hesitate to load up on too many new call option positions for fear that a correction might soon follow.

CORRECTION COMING?

There is definitely a reason to be bearish after the price action on Friday. Intel had blowout earnings after the close on Thursday, but the market (and the chip sector) sold off on Friday with higher than normal volume. With the SMH closing at the low of the day on higher volume, I would expect the support at $26.92 to be broken and possibly get a close below the 50 day MA. We should know a lot at the open on Tuesday. With the market closed today (Monday), it's given the professionals three days to digest the Intel and JP Morgan earnings. If the buyers show up on Tuesday, it could mean that the market could rally up to a new 52 week high...at least over the next few trading days. If sellers dominate the day, we could be in for a much larger correction. If the market can't get excited by the Intel numbers, I can't see it getting excited by anything else during this earnings season. If we do sell off tomorrow, start looking at some stocks that are trending downward. I've told you about BBY and HOG (HOG reports earnings this Friday). I will try to post other bearish patterns as I see them. The VIX traded higher on Friday, but closed off of its high. I still the the 17 area as a key level. If the VIX goes higher tomorrow (especially if it closes on the high of the day), we could be in for a larger sell off. If we move lower and close below 17, we could end up getting that new 52 week high. The lower volume in the market during the first two weeks of the new year concerns me. I just don't see the institutional investors buying or selling this market. They might just be waiting for the Q4 results, but that could create a crowded exit if they don't like what they see. That is why I'd be concerned about those Intel earnings. If that didn't create institutional buying, I don't know what else will. Tech has been one of the main leaders of this rally over the last year. It could be leading the market down right now. Pay close attention to the tech earnings this week. IBM (Tuesday), CREE (Tuesday), EBAY (Wednesday), GOOG (Thursday), and WDC (Thursday), just to name a few. AAPL is scheduled for next Monday (Jan 25th).

Also...I'm still having some trouble with my e-mail. I'm hoping to get it fixed tomorrow (or at least in the next few days). If you have sent me e-mails, please be patient for my reply. You can also plan on asking me questions in class this week if you have a session scheduled. Thank you for your patience.

DOLLAR STILL HOLDING SUPPORT

The dollar/commodity trade is still intact as the dollar holds its key support and commodities start to sell off. Most of the patterns I recommended on Monday still look good. Intel (INTC) will be the big topic of conversation tomorrow. They report earnings after the close and are expected to hit their numbers. I don't really want to play INTC directly. I like the semiconductor index (SMH) or other stocks within the sector. I like the pattern on MCHP (thanks Dangelo for that one). Both of these would move nicely if INTC beats expectations. I'm also starting to get bullish on RIMM. I'm bullish for the longer term (based on the weekly chart), but I'm starting to like the shorter term pattern. I'm going to go ahead and recommend this for a bullish trade....but with a tight stop below its 50 day MA. The trend (based on the 50 day MA) is flat, but I really like the reward to risk right here...and the longer term pattern.

EARNINGS SEASON HAS BEGUN

Every three months, companies report their quarterly earnings. Most of the S&P 500 companies report during the same 3-4 week period. This period is referred to as earnings season. The big earnings months are January, April, July, and October. The period starts about a week into those months and ends about four weeks later. The earnings in January and April often cause the biggest market moves because January earnings reflect the 4th quarter of the previous year and April earnings reflect the 1st quarter of the new year. These are important barometers as to what the future direction of the market might be. Alcoa (AA) typically begins earnings season. AA reported today after the close and missed pretty bad on their 4th quarter target. This led to a sell off in Alcoa in after hours trading. Besides Alcoa, there are many other signals that the market will be down tomorrow. Let me go through some of them. First, commodity prices are showing a possible top after a recent rally. Most commodity related stocks (oil, gold, agricultural chemicals, etc) gapped up on their open and immediately started to sell off. That (by itself) is not always bearish, but it does signal possible weakness...especially after a run up in price. Second, the dollar index (UUP) gapped down at the open, but it is sitting on a very significant support area. If this area holds, we should see a rally in the dollar over the next few days. This would add to the selling pressure of commodities...and quite possibly to the overall market as well. Third, the VIX also gapped down at the market open but immediately started to rally. Remember, the VIX often has an inverse relationship to the market. If you look at a long term chart of the VIX, the 17 area is a very significant support/resistance area...probably THE MOST SIGNIFICANT area in the last 10 years. The fact that we gapped to, then rallied up from this significant level, tells me that we could be in for a sell off over the next few days. Also, the price action of today's candlestick on the VIX is very bullish. It finished up from the opening price, but still down compared to the close on the day before. This often signals a bottom and a possible trend reversal. A VIX that is trending upward often means a market that is trending downward. Combine all that with a sentiment indicator used by contrarians. The percentage of investment advisors that are bearish on the market is at its lowest in several years...even lower than after the financial and market collapse at the end of 2008. That means that most investment advisors are bullish on this market. If you look at that news as a contrarian, you would believe that the market is in a great position for a sell off...maybe a significant one. I'm not calling for a significant sell off...not yet anyway, but when this is added to those other market conditions, it helps to make a pretty good argument. Now keep in mind that I am sometimes a bit early on my predictions...and I do reserve the right to change my prediction (even suddenly) if the market tells me otherwise. Like many other professional traders in the last 6 months, I have been beat up at times when I have bet against the bull market. This is why I am keeping my prediction to just a pull back and not an outright collapse. This is also why you can choose to just sit out if the market does drop and look to go long if it gives more bullish signs in the future.

Now...how do I trade this information. First, find some down trending stocks to buy puts on. Be careful not to by put on up trending stocks...at least not right now. That can be a risky game meant for more experienced traders. BBY might be okay, but you might have missed a lot of the move if you are just getting in now. A much better pattern is HOG. I also like TRA for puts. If you still want to buy calls, look at the UUP (dollar index). You could also buy puts on the overall market using the SPY, DIA, or QQQQ. For gold stocks, look at puts on NEM, AEM, RGLD, and ABX if they get back below their 50 day MA (that is key confirmation by the way...don't ignore that). I do have a couple of bullish patterns that I like, but they would need some confirmation in light of the possible bearish market outlook. They are PCLN and SKYW. Confirmation for me would be that the 50 day MA needs to hold as support (as well as any other support levels that might be involved) and the stocks would need to move above their 10 day MA. Some financial stocks could be added to this put buying list if they end up closing back below their 50 day MA. I also like XLU as a possible bullish pick.

MANY OPINIONS ON AMZN

I was amazed at the amount of interest in my AMZN pick from last night. This has been the most feedback I have received on a pick since I started the blog. Let me have a chance to clarify my outline and reasons for the trade. First of all, you know that I always like to get some confirmation before getting into a trade...move above a 10 day MA, break of a support/resistance line, or a big bullish or bearish candlestick pattern. Many e-mails pointed to a possibility that AMZN could temporarily break below its 50 day MA and find support at $128. If this latest move is a "C" leg, then it might not be done going down until it hits that $128 area. The confirmation that I am looking for is the $137 resistance area. If the stock can break above that price, it could signal a stronger bullish move. If it fails to get above that price in the next few days, we will move on to bigger and better things...like BBY. BBY is a bearish pattern sent to me by one of my students (thanks James P.) I really love this pattern...which sometimes concerns me when it seams so perfect. BBY broke below its 50 day MA on a strong move down in December. It then has "chopped" back up to it in the formation of a bearish ABC pattern. You combine that with the strong horizontal resistance at $41.50 (tests on April though May of 2009 along with touches in September and October) and the diagonal resistance (upward trend line starting in July) and you have a great reward to risk trade. Any stop above $41.50 would probably work. As for the profit targets, there is one at about $39, but the best ones are at $38. $36.35, and $34.50. This is a great reward to risk pattern. Thanks James!

HAPPY NEW YEAR!!!!

Sorry it took me so long make the first posting of the new year. I hope everyone had a great holiday season and that you're ready to get back to work. I have received many e-mails over the last few days asking me what my opinion is on the big Monday rally. My opinion is that I am cautiously waiting to see what happens over the next few days. I don't like the current position of the market for any aggressive buying. We are back in a kind of "no man's land" on the chart of the S&P 500. All I can say is to be very careful with your trading decisions right now. This is a traditional time of the year when we get bombarded with opinions and commentary as to what is going to happen in the market for 2010. Keep in mind that most of these traders and analysts are being paid to have an opinion...especially during the start of a new year. How do you know which opinions have been well thought out and tested as opposed to those that were thrown together on a whim because the trader needed to beat the deadline. It is normal to feel like you need to do something impulsive during these first few trading days of the year. Some of the e-mails I've received over the last 24 hours have displayed the tone of "I'm missing the move, what should I do?" Professionals know that this is a time of the year when the amateurs are anxious to get into the market. They are practically begging for advice and direction...and the media markets (like CNBC) give it to them. Before you get caught up on believing all those opinions, see if you can get access to the predictions that were made this same time last year. See what type of success or failure that you would have had if you followed that advice. Many were predicting a very dire 2009. They were talking about possibly moving below 500 in the S&P 500. There was talk early on about the strength of the Biotech and Pharmaceutical sectors as possible leaders out of the decline. 2009 went almost nothing like what the "experts" thought would happen. It will probably be much the same this year. Trust the Trends!!! More so now than at almost any other time of the year...Trust the Trends. If you hear a positive analysis on XYZ stock and the chart pattern of XYZ stock looks great...trade it. If you hear a positive analysis, but the chart looks terrible...run from it. Move on to a trade that gives you the best chance of winning. I know you want to get your money to work starting this new year, but you must be smart on how and when to do that. You will get plenty of opportunities to make money this year...if you are smart. Be patient...resist the urge to just jump in because you feel you're missing out. I'm okay with you listening to opinions (I do it myself...and you are listening to me offer my opinions right now), but make sure you trust what the chart or the price action is telling you. Hope this helps. I do have one pick for today's post. I do like the current reward to risk position of AMZN. There are probably many others, but I'm still getting back into the swing of things. If AMZN holds that 50 day MA, it could quickly run up to around $145.

SUCCESS STORY

Happy New Year Jerry!
I completed your basic option course in November and have been testing the trading waters on a small
scale. Some of my successes:
aapl @ 7.06, sold @ 11.04
aapl @ 5.69, sold @ 8.81 
seed @ 1.43, sold @ 2.39
xto  @ 1.43, sold @ 5.07
Of course, not all of my trades have been winners (especially GS).
Thanks again for all your guidance.
Shirley.