Skip Raschke has been with Options Profits since its inception 3+ years ago. He is a graduate of Gonzaga University. Prior to his Wall Street career in 1971, he was drafted by the New York Yankees as a pitcher. After a career-ending elbow injury he began his career on Wall Street in 1975 as a registered stock/options broker with Paine Webber. In 1982 he bought a seat on the Philadelphia Stock Exchange where for 10 years he was a registered options trader (a trading pit market maker).Expand

He later served as a registered Commodity Trading Advisor (C.T.A.), brokering a hedge fund. In addition he was a proprietary stock/options trader for Van Der Moolen. He can be found daily on OP, and, he can be reached at his website: The Stock and Options Trader's Daily (SOTDaily.com), an interactive website dedicated to intra-day stock market analysis as well as teaching the skills of trading the markets. His email address is: Skip@SOTDaily.comCollapse

Fight the urge to keep 'loser' stocks that you hope will turn around.
A bullishly biased vertical call spread is my favorite.
Consider this USO long call 'shooter' setup.

Intermediate Trade: Nike Real Money Pro($)

Technicals point to lower prices, so a bearish vertical put spread is appropriate.
Try this speculative vertical call spread for a bullish take on NSC.
Resistance has a rising possibility of being taken out.

Intermediate Trade: GE Real Money Pro($)

The trade tactic I prefer here is the synthetic call.
This speculative trade is not for the faint of heart.

Intermediate Trade: SDS Real Money Pro($)

It offers a built-in downside hedge and is a good vehicle to trade the market from the short side.
A smart trader scales in to every options opening trade.

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