Wednesday, April 30, 2008
Tuesday, April 29, 2008
Monday, April 28, 2008
First up is AVID...I don't know what they do nor do I care. Obviously their earnings stunk and I have a short term target of $19.60 to $19.50'ish....again, just looking for a quick buck before the Fed announcement...
Thursday, April 24, 2008
I shorted COP here...Slammed right into resistence and MACD turing over. Obviously they had earnings but I'm not concerned what was said; purely a technical play.
...But I'm not buying it because volume has been slowly but surely decreasing since mid-march.
Saturday, April 19, 2008
Thursday, April 17, 2008
MOO - Agricultural ETF (Tracks stocks like POT, MOS, etc.)
XME - Metals and Mining ETF
POT - Not a whole lot to say about this one other than it's bullish and earnings are coming up. The 190/185 Bull/Put Vertical has a nice credit if it can stay above these levels (I'm personally expecting a pullback before earnings).
CAM - Looking for a pull back; bumping up against resistance at 50; earnings coming up.
FWLT - Shorting opportunity; 64 appears to be good resistence
FLR - Shorting opportunity? A pullback could be in order and there are visible signs of divergence with the MACD (higher high's on less momentum; 160 is resistence
TSN - Broken above 200 MA on good volume. Today's action was extremely bullish with BIG volume and BIG white candle. Also, thanks to Terry, he pointed out that it's resting SMACK-DAB on 50% Fib line from the swing high of June 07 to the swing low of Jan. 08...Will it keep going?
$VIX - Last but not least....what's this thing going to do? I personally have it breaking below the uptrending support line and resting on a horizontal support line at ~20.35 (today's low). You can argue that MACD is getting weaker and this thing is going lower (divergence).
So where we go from here who knows, just manage your risk; Plan your trades and trade your plans...
Happy trading and don't hesitate to ask any kind of question that you may have, no matter how simple or complex.
Friday, April 11, 2008
Today was an ugly day if you were bullish....and a pretty day if you were bearish...Here are the closing prices and changes in some of the indices.
Have a great weekend!!!
Thursday, April 10, 2008
Wednesday, April 9, 2008
I will update more once this week is over (probably Sunday).
Quick update: I'm out of GGB (as of yesterday) because it was looking weak and I wanted to keep the gains so I tightened up my stop and it was triggered.
Also, I'm still in DNR but after today's action I'm thinking we're heading lower; so I've moved my stop to just under today's close. I won't be surprised if I get stopped out tomorrow (and watch it rally; but hey, you can't have your cake and eat it too).
New short position: EUR/JPY looks like a great opportunity for a short entry; so I took it. Thanks Dave for the heads up on this chart!
I hope all is well and I will talk to you later...
Sent via BlackBerry from AT&T
Monday, April 7, 2008
~ 7,000 calls compared to ~700 puts for the month of April.
~31,000 calls compared to 441 puts for the month of May.
~1,000 calls compared to 37 puts for the month of September.
Sunday, April 6, 2008
Maybe you remember that I was looking for DNR to get past 30? Well I was. And Friday it did with pretty good volume. MACD is continuing to roll up but it's still -0.01; My target for this thing is 33 and I'll be adjusting stops as we go. I feel pretty confident that it will get there.
I was looking for it to go up; but I have to admit that I didn't think it was going to move like it did. What's even better is that volume has been relatively high confirming the move. Now I just have to lock in the gains and make sure I don't lose any of what I gained...
Wednesday, April 2, 2008
To be honest, I don't think it is and I really just want it to get up and over 30 with volume. 30 right now is heavy resistance. We'll just have to see what happens over the next few days...