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likesmoney01
06-27-2014,
There are SO many to choose from !!!

I got the MACD, RSI Moving Average, and the Stochastic....

I somewhat starting to learn how to read these chart, however,

- The stock in the attached picture, SPX; how would I guess which way it will turn?

- XYZ is on an upward trend for a week, how do I know it won't start going down as soon as I buy them (I know that no one can predict that, but I'm sure some of you pros have a "calculation" or "sign" that you use to make a decision)

- XYZ has $100 resistance, but how would I know that it is not gonna break though and $100 become the new support?

I know none of my questions can be answered in a short sentence, and there is no certainty in this stock market, however, I was wondering if you guys could give me a few pointers to help me make "better" decisions.

I started to watch tastytrade videos along with youtube, etrade videos. They are great but does not cover a whole lot.

Thanks guys !!

Street Authority
06-27-2014,
Tastytrade does not give a whole lot of attention to technical analysis (aside from Slim and a couple of the other guys). The reason is that they come from the fair market school of thought. They assume that in an efficient market everything that can be know about a stock is already priced into it. When new information becomes available it quickly is priced into the stock. As far as they are concerned as long as a stock is trading efficiently and is liquid the movement either way is basically a 50/50 shot. They are contrarian traders and therefore will go long when they believe something is weak and go short on something they think is too strong. They do scalp on the side but the bulk of their philosophy is wrapped around selling premium (theta (time decay) and volatility). They do allow that technical analysis has it's place but mostly just as a tool to give someone a direction to choose. They believe that you can use whatever you want to pick a direction but it is the option strategies themselves that give you the edge.
Tom and Tony have been trading since the 70's or early 80's and started out as market makers on the CBOE floor. Tom developed Thinkorswim, Tastytrade and Dough.com.

Mark Hanna: OK, first rule of Wall Street - Nobody - and I don't care if you're Warren Buffet or Jimmy Buffet - nobody knows if a stock is going up, down or f-ing sideways, least of all stockbrokers. But we have to pretend we know. You know what a fugasi is?
Jordan Belfort: Fugazy, it?s a fake.
Mark Hanna: Fugazy, fugasi, it?s a wazi it?s a woozy, it?s [makes a flittering sound] fairy dust.

Net/Net more money is probably made from selling trading ideas than the trades themselves make.

?Look, and it can't be seen. Listen, and it can't be heard. Reach, and it can't be grasped.?
― Laozi, Lao Tsu: Tao Te Ching

likesmoney01
06-27-2014,
How do you choose your options? I mean if you were to scan using thinkorswim, which fundamentals do you and what values return results for suitable underlying stocks?
Thanks !!!!