I bought an option on GILD.

The others are stocks.

Don

DonStar 

I bought an option on GILD. The others are stocks. Don

how far out are you buying when entering? or i guess i could just ask what kinda option strategy are you using?

Hi madLyfe: I used just a straight call. On Jan 2nd 2012 I bought a May 41 GILD call. Bought at 2.80. I is up about %6000.00

ok thanks for the update.. i know you havnt come out with an exit strategy yet, but would you just roll it come expiration if it was still in your favor? im just wonder about the options side of things and if weeklies could fit in here.. giving the percent winners you could really pick up some decay in that last week(if you only wanted to be in them a week at a time).. i see your on TOS, have you come up with a scan yet to look for the pipes? im guessing they work equally well as for 'pipe tops' too..

Just nosing around and thought I might post another example ...this one is a daily on the TF

It seems to me that they work well on more than just weekly charts from what I have been seeing...I have seen a few of them on my tick charts as well and they all were all good trades.

kbit 

Just nosing around and thought I might post another example ...this one is a daily on the TF It seems to me that they work well on more than just weekly charts from what I have been seeing...I have seen a few of them on my tick charts as well and they all were all good trades.

is there an exact definition for these bar patterns? i see some that look close and it would be nice to have the exact definition so i could maybe make a TOS scan outa it..

madLyfe 

is there an exact definition for these bar patterns? i see some that look close and it would be nice to have the exact definition so i could maybe make a TOS scan outa it..

I don't know that there is an exact definition...for me it's just a know it when you see it deal.

There probably is something that says the two bars must be about the same size within some percentage type thing but I don't know what that might be.....just don't know enough about it myself

kbit 

I don't know that there is an exact definition...for me it's just a know it when you see it deal. There probably is something that says the two bars must be about the same size within some percentage type thing but I don't know what that might be.....just don't know enough about it myself

ok i guess we'll have to wait for @DonStar to maybe full us in.. i see he's on TOS as well so maybe he's come up with something..

kbit: I agree that they can work just as well on lower time frames.

madLyfe: If you look at some of the earlier posts, I gave Bulkowski's definitions.

Also, I only used an option as a fluke. No real strategy around it. I have straight trades for all but the 1st one.

I am looking into developing a scan to locate these (hopefully, just before the weekly completes forming). Any ideas for language to develop a scan would be appreciated...

DonStar 

kbit: I agree that they can work just as well on lower time frames. madLyfe: If you look at some of the earlier posts, I gave Bulkowski's definitions. Also, I only used an option as a fluke. No real strategy around it. I have straight trades for all but the 1st one.

right i was just wondering if you use options and if so how.. once you get a high probability setup, extracting the money is secondary. i will go back and reread to get the info, thanks.