One other thing I've noticed with SLW on many occasions. Not everybody has "real time" quotes, so there often is a dip in price just before the 15 minute delay when it opens to the general public ie. 945am. That one though isn't as consistent. Good luck and remember "the market always gives you another chance" when you're going with the trend. You'll get your money back no time.
I had a couple windows open with real time quotes and my options account etc .going and I was ready, I thought.
My mistake obviously was to not have a GTC sell order ready with a higher price to take advantage of this volatility. I'm ready now. I actually think I have a good shot of this happening again.
At the very least it confirms what I've been seeing and thinking regarding SLW and some other options as well. USO comes to mind as a weird performer in spite of the volume and crude's volatility lately. Totally underperfoming and almost non-reactive most of the time. Except when oil goes down of course. Then it reacts negatively, big time. Never really acts that way when oil goes up.
One thing I was thinking about last week prior to my SLW experiences was reading a lot of posts with people talking about putting in stink bids etc. just to see if they would catch alow bid etc.
I was thinking the whole time about putting a "rosey" sell limit order just in case the improbable happened. I should have followed my gut, especially after it actually happened the 1st time.
I'll make lemonade about it and just say I learned a valuable lesson today and I'll be a better trader for it and definitely expecting the unexpected. I still have many SLW calls with lots of time left for this to explode to the upside again. I saw first hand what might be possible.
I may just keep rosey GTC sell limits on all my options from here on out. Why not?
An epic lack of foresight, accuracy and rationale... https://www.tfmetalsreport.com/comment/170246#comment-170246
Did you honestly think your broker was going to honor that obvious mistake?
Today marks the day I have been waiting for, when S....L....W...(1-month +22%, 6-months -10%) goes over the dollar price of the S....L....V...(1 Month +6%, 1 Year +15%)...it has been a while and looks to be a continuing trend. They diverged in 2nd week of April after being highly correlated. Now since the panic short covering of the US down grade it has turned!
Lets see how it plays out!!!
BTW, we do the ....in.....between to prevent extra webbot algo sniffing BS from happening. Does anyone think this might help?
Can somebody explain the 14M spike (huge volume) in SLW today? Also visible on the kitco chart around 15:45 (I am dutch :).
Looks like we are ready for liftoff the next coming weeks!
Is the market still open after hours on Fri? I see SLW around 40.7.. What's the news?