Coming This
Week @ TradingMarkets.com October 21 -
October 28
We are very pleased to announce that
two giants from the world of options trading will be joining TradingMarkets.com
this Tuesday.
Please welcome Jon "Doctor
J" Najarian and Tony Saliba.
Tony Saliba's
20 years in options trading has been profiled in the book Market
Wizards.
Tony will be providing daily
options commentary at 11:00 AM EST.
In his early 20s, Tony fought his
way back from a rough start on the floor of the CBOE to wind up trading his
way to becoming a millionaire by the time he was 25.
Since then, Tony has developed a
legendary reputation for consistent profitability and superb risk control in
the options arena. At one time, he had an unbroken string of 70 months in
which he was up $100,000 or more.
Currently, Tony continues to be
one of the major players in options. He has exchange memberships on the Chicago
Board Options Exchange (serving on the Board of Directors from 1987-1990), The
Chicago Board of Trade, and the Chicago Mercantile Exchange. His firm Saliba
Partners, trades options on the floor of the CBOE.
Jon Najarian
came to floor of the CBOE after playing with the Chicago Bears as a linebacker. He
used the discipline, reflexes and competitive nature honed on the football field
to work his way up from being a clerk to becoming a successful trader.
After buying a CBOE seat, he
began trading in the IBM pit and within a few years, he established himself as
one of the exchange's biggest players.
Jon’s success in the pit led him to found Mercury Trading in 1989.
The firm is a Designated Primary Market Maker in more than 90 high-tech
and biotech stocks at the CBOE, trading between 25,000 – 40,000 options and
up to 3 million shares of stock per day!
Jon will be
providing intraday options commentary every day at 2:00 PM EST.
Also
watch for Jon and Tony to provide ongoing options education throughout the year
and in the future.
Intermediate-term traders:
How would you like to know that a breakout on heavy volume is occurring -- ahead
of the crowd? Intermediate-term traders
know to buy breakouts only when volume substantially exceeds a stock's average
daily volume. But how do you get a feel for volume when the breakout occurs
early in the day? If you wait until the end of the day, the stock may shoot past
your buy window, causing you to miss the trade. Tune into Loren Fleckenstein's
trading lesson "How
To Spot Significant Volume Intraday" for volume interpretation
techniques you can use to beat the crowd.
Want to know the
name of a stock whose options are currently overpriced? Read Len Yates
latest options trading lesson on "An Opportunity to Sell Expensive Options."
In it, Len will show you an example of a stock whose Implied Volatility (IV) is
currently at a six-year high. Applying the reversion-to-the-mean principle,
volatility may be set up to drop and thus provide a good opportunity to sell
expensive options. Understand the mechanics by watching this setup unfold.
If you're looking to build your
arsenal of futures trading tools while improving your risk control, you'll
want to learn about futures spread strategies. Spreads can offer open
substantial return potential, but with limited risk. Marc Dupee comes up with
the the step-by-step details in his futures trading lesson entitled: "Spreading
Your Way To Futures Gains."
Book Review of "Japanese
Candlestick Charting Techniques." Many traders are confused by
candlesticks. Some dismiss candlestick patterns as unreliable. Others say they
work great when combined with other indicators. Read Marc Dupee's book review on
"Japanese
Candlestick Charting Techniques" by Steve Nison to find out whether
this book helps to unravel the mystery.
Traders Galleria: The next time
you make a trade, wouldn't you like to have 14 of the world's best traders by
your side? Now you can. Just order your copy of "The
Best: Conversations With Top Traders." Read it and get inside the heads
of 14 highly successful traders. Let their strategies and thought processes seep
into your brain and become yours.
Cool Feature of the Week:
At TradingMarkets.com, we're not only always striving for improvements on a
large scale, but in the realm of niggling little details as well. So you may
have noticed that we changed the name of Loren Fleckenstein's "Moneyflow
Outlook" to "Fleckenstein's Following the Money." The new name is
a better reflection of how Loren follows the movement of money from sector to
sector or from group to group. I am a huge fan of Loren's column because
I believe it is absolutely critical for all traders, whether short- or
intermediate-term to know which groups are the strongest. You've heard us say
many times that the leadership rotates -- still, too many traders have the
mentality that certain groups are immortal. We have seen recently in the case of
semis that that theory doesn't fly. Read "Fleckenstein's
Following the Money" every day to learn how to stay with the winners.
Looking to
keep the TradingMarkets2000 magic alive?
Now there's a TradingMarkets2000
message board. Go there now and talk about speakers, strategies,
techniques and ideas that you learned.
In addition to the trading lessons
described above, see additions to our Q&A
section. As always, if you'd like your
trading questions answered, send them to questions@tradingmarkets.com.
Please send any suggestions, recommendations and other input to suggestions@tradingmarkets.com.
Profitable trading,
Eddie Kwong
Editor-in-Chief
TradingMarkets.com
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