from the desk of Dr. Terry F Allen

Skip navigation

Member Login  |  Contact Us  |  Sign Up

1-800-803-4595

Posts Tagged ‘Credit Spreads’

Grubhub (GRUB) Offers An Attractive Entry Point

Monday, June 4th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

The actual Terry’s Tips  portfolio that places trades that you read about here has gained 99.7% so far in 2018.  That’s pretty close to doubling our money in less than six months, and all the paying Terry’s Tips subscribers who are following that portfolio, either on their own or through the free Auto-Trade service offered by thinkorswim are happy campers right now.

Terry

Grubhub (GRUB) Offers An Attractive Entry Point

Grubhub’s stock price recently broke higher and several analysts expect the upside momentum to continue.  This article published on Benzinga includes a target that suggests about a 20% upside.  A detailed article outlining why there could be more upside in GRUB was also published on InvestorPlace.  While the second article has a bit more of a conservative target, it still points to a potential 10% gain in the stock price.

The GRUB technical chart is signaling a bullish continuation.  The stock price broke out from a bullish flag pattern in early May and has more recently cleared above a clear horizontal resistance level found near $105.  The same level should protect any corrections for bulls to remain in control.  The stock price has also consistently traded above its 20-day moving average since the bull flag was activated.

GRUB Chart June 2018

GRUB Chart June 2018

*source Tradingview.com

If you agree there’s further upside ahead for GRUB, consider this trade which is a bet that the stock will continue to advance over the next five weeks, or at least not decline very much.

Buy To Open GRUB 29JUN18 105 Puts (GRUB180629P105)
Sell To Open GRUB 29JUN18 107 Puts (GRUB180629P107) for a credit of $0.83 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when GRUB was trading near $108.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $80.50 and your broker would charge a $200 maintenance fee, making your investment $119.50 ($200 – $80.50).  If GRUB closes at any price above $107 on June 29, both options would expire worthless, and your return on the spread would be 67% (978% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates May 31, 2018

IBD Underlying Updates May 31, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Can Nvidia (NVDA) Continue Its Earnings-driven momentum?

Monday, May 28th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

The real-life Terry’s Tips portfolio that trades these spreads has gained 97% so far in 2018, and has 4 spreads in place that will increase the gain to 123% in 3 weeks if the underlying stock prices hold their current prices or go up by any amount. And the year will not be half over by then.  Clearly, we have some happy campers who subscribe to our newsletter service, especially those who are having trades placed in their account through the Auto-Trade service offered by thinkorswim.

Terry

Can Nvidia (NVDA) Continue Its Earnings-driven momentum?

Several analysts have renewed their bullish NVDA outlook following their recent earnings report.  Here are two of them – Why Nvidia (NVDA) Is a Strong Buy and Nvidia Seen Soaring to Record on Explosive Growth.

NVDA pushed firmly higher following earnings earlier this month, gapping above a horizontal level at $239.  After briefly piercing to a record high, the stock has consolidated lower.  Buyers have stepped in slightly ahead of the horizontal level with the 20-day moving average providing additional support.  This area remains an important zone of support for NVDA.

NVDA Chart May 2018

NVDA Chart May 2018

*source Tradingview.com

If you agree there’s further upside ahead for NVDA, consider this trade which is a bet that the stock will continue to advance over the next four weeks, or at least not decline very much.

Buy To Open NVDA 22JUN18 242.5 Puts (NVDA180622P242.5)
Sell To Open NVDA 22JUN18 245 Puts (NVDA180622P245) for a credit of $0.93 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when NVDA was trading near $249.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $90.50 and your broker would charge a $250 maintenance fee, making your investment $159.50 ($250 – $90.50).  If NVDA closes at any price above $242.5 on June 22, both options would expire worthless, and your return on the spread would be 68% (834% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates May 25, 2018

IBD Underlying Updates May 25, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Bauzun (BZUN) Breaks To Fresh Highs Following Earnings Report

Sunday, May 20th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Bauzun (BZUN) Breaks To Fresh Highs Following Earnings Report

Bauzun stock rose sharply late last week following their earnings figures.  Investor Business Daily has provided a narrative and an article on Seeking Alpha argues why BZUN is a stock worth holding.

BZUN had consolidated for about two and a half months prior to last week’s break.  The consolidation took the form of a triangle pattern and the bullish break suggests the stock has resumed its uptrend.  Near-term support will be at the upper line of the broken triangle pattern.  Upside momentum has been strong and a sustained break above the psychological $50 barrier are additional points that should encourage bulls.

BZUN Chart May 2018

BZUN Chart May 2018

*source Tradingview.com

If you agree there’s further upside ahead for BZUN, consider this trade which is a bet that the stock will continue to advance over the next four weeks, or at least a little bit.

Buy To Open BZUN 15JUN18 50 Puts (BZUN180615P50)
Sell To Open BZUN 15JUN18 55 Puts (BZUN180615P55) for a credit of $1.88 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when BZUN was trading near $55.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $185.50 and your broker would charge a $500 maintenance fee, making your investment $314.50 ($500 – $185.50).  If BZUN closes at any price above $55 on June 15, both options would expire worthless, and your return on the spread would be 59% (861% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates May17, 2018

IBD Underlying Updates May17, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Consider IPG Photonics (IPGP) Following the Technical Breakout

Monday, May 14th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Consider IPG Photonics (IPGP) Following the Technical Breakout

In addition to being listed as one of the IBD Top 50 companies, Investor’s Business Daily recently wrote about IPGP, outlining the reasons why the growth stock is setting up for another advance.  Also take a look at this publication which discusses why IPGP is trending.

IPGP broke higher late last week from a bullish flag pattern that has been setting up for most of the year thus far.  Technical traders tend to keep a close eye on flag patterns, especially in assets that have had a strong trend which IPGP certainly displayed in 2017.  Technical support is found nearby from a horizontal level at $248 which marks last years high.  Also near the level is additional support from the top of the broken flag pattern.

IPGP Chart May 2018 credit spread

IPGP Chart May 2018 vertical spread

*source Tradingview.com

If you agree there’s further upside ahead for IPGP, consider this trade which is a bet that the stock will continue to advance over the next five weeks, or at least not decline very much.

Buy To Open IPGP 15JUN18 240 Puts (IPGP180615P240)
Sell To Open IPGP 15JUN18 250 Puts (IPGP180615P250) for a credit of $3.58 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when IPGP was trading near $151.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $355.50 and your broker would charge a $1000 maintenance fee, making your investment $644.50 ($1000 – 355.50).  If IPGP closes at any price above $250 on June 15, both options would expire worthless, and your return on the spread would be 55% (627% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates May10, 2018

IBD Underlying Updates May10, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Align Technologies Consolidates In a Range, Is It Ready To Break Higher?

Sunday, May 6th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Align Technologies Consolidates In a Range, Is It Ready To Break Higher?

Align Technology posted a strong performance last year.  Not only did it outperform its sector, it was also ranked the top-performing stock in the S&P 500 for 2017.  The following articles outline the details – 3 Growth Stocks I’m Holding Onto No Matter How Bumpy the Market Gets and Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?

From a technical perspective, ALGN has been mostly consolidating within a range over the last few months.  Ahead of the recent earning’s call, the stock briefly dipped below range support at $243 but it managed to regain it following the earnings report.  Current prices offer an opportunity to buy the stock near the lower bound of the consolidation.  There is some potential for an upside break, in line with the broader trend.  The rationale being that a quite few of the stocks listed in the IBD Top 50 list have shown strength in the past week and some have even broken to fresh highs.  This signals some potential that the bullish trend may have resumed in the markets.

ALGN Chart May 2018 - vertical put spread

ALGN Chart May 2018 – Free Trade

*source Tradingview.com

If you agree there’s further upside ahead for ALGN, consider this trade which is a bet that the stock will continue to advance over the next five weeks, or at least not decline very much.

Buy To Open ALGN 08JUN18 255 Puts (ALGN180608P255)
Sell To Open ALGN 08JUN18 257.5 Puts (ALGN180608P257.5) for a credit of $1.13 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when ALGN was trading near $259.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $110.50 and your broker would charge a $250.00 maintenance fee, making your investment $139.50 ($250 – $110.50).  If ALGN closes at any price above $257.50 on June 8, both options would expire worthless, and your return on the spread would be 79% (904% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Netflix(NFLX) Pulls Back After Earnings, Is It a Buy?

Monday, April 30th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Netflix(NFLX) Pulls Back After Earnings, Is It a Buy?

Recent hikes in the price target for Netflix stock among analysts suggest there is further upside.  Stifel Nicolaus has raised their target from $345 from $325 and Raymond James increased targets from $290 to $330.

NFLX has pulled back since its earnings report but price action over the past few days suggest some exhaustion as a doji candlestick pattern has printed and the stock price has edged higher since.  This pattern was established at the 50-day moving average which remains a key indicator to the downside.  Further support is seen slightly below it in the form of a rising trendline.

NFLX Chart April 2018

NFLX Chart April 2018

*source Tradingview.com

If you agree there’s further upside ahead for NFLX, consider this trade which is a bet that the stock will continue to advance over the next five weeks, or at least not decline very much.

Buy To Open NFLX 01JUN18 307.5 Puts (NFLX180601P307.5)
Sell To Open NFLX 01JUN18 310 Puts (NFLX180601P310) for a credit of $1.08 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when NFLX was trading near $312.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $105.50 and your broker would charge a $250 maintenance fee, making your investment $144.50 ($250 – $105.50).  If NFLX closes at any price above $310.00 on June 1, both options would expire worthless, and your return on the spread would be 73% (833% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates April 26, 201

IBD Underlying Updates April 26, 201

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Micron Technology (MU) Retreats – Can it Hold Above the Psychological $50 Handle?

Monday, April 23rd, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Micron Technology (MU) Retreats – Can it Hold Above the Psychological $50 Handle?

Micron Technology has posted an impressive gain in the early year and several analysts are expecting more upside.  The following two articles provide the details behind this view – 3 Stocks That Could Double Your Money and Bull of the Day: Micron (MU).

MU has declined as of late and is now seen trading near an overwhelming confluence of support.  A rising trendline is in play that originates from this year’s low, and near it, the $50 price point comes into play.  The stock briefly traded below the psychological handle earlier this month but buyers quickly stepped in to lift it back above the horizontal level.  As well, the 20 and 50-day moving averages have converged close to the rising trendline.

Micron (MU) Chart April 2018

MU(micron) Chart April 2018

*source Tradingview.com

If you agree there’s further upside ahead for MU, consider this trade which is a bet that the stock will continue to advance over the next four weeks, or at least not decline very much.

Buy To Open MU 18MAY18 48 Puts (MU180518P48)
Sell To Open MU 18MAY18 50 Puts (MU180518P50) for a credit of $0.68 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when MU was trading near $50.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $65.50 and your broker would charge a $200 maintenance fee, making your investment $134.50 ($200 – $65.50).  If MU closes at any price above $50.00 on May 18, both options would expire worthless, and your return on the spread would be 49% (658% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates April 19, 2018 additions deletions

IBD Underlying Updates April 19, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Adobe Systems (ADBE): A Stable and Consistent Player

Monday, April 16th, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Adobe Systems (ADBE): A Stable and Consistent Player

The following two articles suggest ADBE offers good value at current prices – Is Advanced Micro Devices Stock Undervalued? and AMD Stock’s Fall Has a Silver Lining for Value Investors.

From a technical perspective, the recent decline in Adobe’s stock price resembles a consolidation more than correction, which suggests some underlying strength.  This is especially important considering the heightened volatility in the equity markets as of late.  Price action in ADBE over the last month or so has not altered the bullish technical outlook as the buyers protected support near the 50-day moving average at $212.  Once again, this is significant and supports the view of strength in Adobe’s stock price as several stocks, including those on the IBD Top 50 list, have broken below notable support either in the form of a relevant moving average or a horizontal level.

ADBE Chart April 2018

ADBE Chart April 2018

*source Tradingview.com

If you agree there’s further upside ahead for ADBE, consider this trade which is a bet that the stock will continue to advance over the next four weeks, or at least not decline very much.

Buy To Open ADBE 25MAY18 220 Puts (ADBE180525P220)
Sell To Open ADBE 25MAY18 222.5 Puts (ADBE180525P222.5) for a credit of $0.80 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when ADBE was trading near $224.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread.  Each contract would then yield $77.50 and your broker would charge a $250 maintenance fee, making your investment $172.50 ($250 – $77.50).  If ADBE closes at any price above $222.50 on May 25, both options would expire worthless, and your return on the spread would be 45% (360% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Consider Applied Materials (AMAT) Following a Pullback To Support

Monday, April 9th, 2018

A quick update on our two latest suggestions using the Diagonal Condor Earnings Strategy – both Redhat (RHT) and Carmax (KMX) spreads could have been closed out on the Friday after earnings were announced for a 49%+ gain for the week.

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Consider Applied Materials (AMAT) Following a Pullback To Support

Several articles have recently been published that outline the potential for growth in Applied Materials stock price, here are two of them – Is Applied Materials a Strong Growth Stock? and Have Sufficient Potential Left To Grow? Applied Materials, Inc.

AMAT has been correcting lower over the past four weeks and is now seen near a confluence of support.  The stock shows support at $51.73 from a 61.8% Fibonacci retracement measured from this year’s low to high.  As well, the 200-day moving average is found slightly below the Fibonacci retracement.

*source Tradingview.com

If you agree there’s further upside ahead for Applied Materials, consider this trade which is a bet that the stock will continue to advance over the next six weeks, at least a little bit.

If you agree there’s further upside ahead for Applied Materials, consider this trade which is a bet that the stock will continue to advance over the next five weeks, at least a little bit. AMAT will announce earnings in the week following the 11May18 series, and we usually see higher stock prices going into expiration week, so this might be a good trade for other reasons as well.

Buy To Open AMAT 11MAY18 49 Puts (AMAT180511P49)
Sell To Open AMAT 11MAY18 52 Puts (AMAT180511P52) for a credit of $1.08 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when AMAT was trading near $52.50.  Unless the stock rallies quickly from here, you should be able to get close to this amount

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $105.50 and your broker would charge a $300 maintenance fee, making your investment $194.50 ($300 – $105.50).  If AMAT closes at any price above $52 on May 11, both options would expire worthless, and your return on the spread would be 54% (550% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Is Stamps.com (STMP) Ready to Resume Higher?

Sunday, April 1st, 2018

This week we are looking at another of the Investor’s Business Daily (IBD) Top 50 List companies.  We use this list in one of our options portfolios to spot outperforming stocks and place option spreads that take advantage of the momentum.

Terry

Is Stamps.com (STMP) Ready to Resume Higher?

Zacks research recently wrote a compelling article outlining why STMP is poised for further gains.  As well, this analyst believes there is potential for about a 30% upside based on their recent price target revision.

From a technical perspective, STMP has been consolidating sideways following a gap up in late February that was inspired by a stellar earnings report.  The consolidation is an indication of strength when considering that the markets have been under pressure as of late.  Buyers have stepped in to keep the stock trading above the $190 price point and an upside hurdle is seen around $210 as it has held the stock lower on a few attempts this year.

STMP Chart March 2018

STMP Chart March 2018

*source Tradingview.com

If you agree there’s further upside ahead for Stamps.com, consider this trade which is a bet that the stock will continue to advance over the next four weeks, or at least not decline very much.

Buy To Open STMP 27APR18 192.5 Puts (STMP180427P192.5)
Sell To Open STMP 27APR18 195 Puts (STMP180427P195) for a credit of $0.98 (selling a vertical)

This price was $0.02 less than the mid-point of the option spread when STMP was trading near $201.  Unless the stock rallies quickly from here, you should be able to get close to this amount.

Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers).  Each contract would then yield $95.50 and your broker would charge a $250 maintenance fee, making your investment $154.50 ($250 – $95.50).  If STMP closes at any price above $195.00 on April 27, both options would expire worthless, and your return on the spread would be 62% (778% annualized).

Changes to Investor’s Business Daily (IBD) Top 50 This Week:

IBD Underlying Updates March 29, 2018

IBD Underlying Updates March 29, 2018

We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run.  Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.

As with all investments, you should only make option trades with money that you can truly afford to lose.

Happy trading,

Terry

Making 36%

Making 36% — A Duffer's Guide to Breaking Par in the Market Every Year in Good Years and Bad

This book may not improve your golf game, but it might change your financial situation so that you will have more time for the greens and fairways (and sometimes the woods).

Learn why Dr. Allen believes that the 10K Strategy is less risky than owning stocks or mutual funds, and why it is especially appropriate for your IRA.

Order Now

Success Stories

I have been trading the equity markets with many different strategies for over 40 years. Terry Allen's strategies have been the most consistent money makers for me. I used them during the 2008 melt-down, to earn over 50% annualized return, while all my neighbors were crying about their losses.

~ John Collins