short calls on AAPL
this morning we sold (wrote) january 500 strike calls on AAPL..that's a little more than 26% out of the money from where the stock traded when we opened the trade. 26% out of the money three months out is a pretty good buffer even for AAPL should AAPL begin to slide lower we will likey […]
Morning Thoughts October 20
It was another consolidation day yesterday…right at the top of the trading range and below 1230. news out of Europe remains very inconsistent, not helping uncertainty BLK above $160, ZUMZ above $22.50 are nice Bucket 2 long ideas its options expiration week, this usually leads to more volatility into Friday as a reminder for the […]
AAPL interesting topping pattern
it's dangerous to bet against a steamroller like AAPL and right here right now we don't want to do anything yet. but do note the gap up, dojis, and then gap down formation of the last five trading sessions. our internal discussions thus far have evolved around selling out of the money calls…but still just […]
BLK above $160 looks interesting
another financial firm with an interesting chart setup is Blackrock (BLK). it's nothing immediate here but if and when it were to give us a solid daily close above the $160 area it may provide a solid Bucket 2 long trade.
Huge level here for INTC
the stock is ripping this morning after earnigns last night…and right into the multi-year resistance zone at $24.50. it's a little difficult to imagine the stock pushing through this level cleanly right now but after some backing and filling it may just muster up enough strength to do the job at some poing in coming […]
nice pattern in ZUMZ
we remain in an environment where quick hits are the highest probability trades. as such we need to find nice and tight patterns that allow for clear stops and profit targets. one such chart is that of ZUMZ: nice tight consolidation patte here below resistance around $22. nice gap (gray zone) as profit target nice […]
MS…taking initial profits
we took initial profits in the early going today as the stock shot up another 5% and change today after its earnings. we took 50% of the position off and will look to add again at lower levels in coming days or so. its just good risk mgmt to take osme off after big rally […]
Morning Thoughts October 19
After a little breather on Monday stocks continued their ascent on Tuesday on solid volume and breadth. The S&P 500 is again at the very top of its 2.5 month trading range as it closed at 1225 and change. The immediate support level at 1190 held and after a little backing and filling in the […]
Morning Market Video Link:
http://www.youtube.com/watch?v=-nGI0ZjuCCk&feature=channel_video_title
MS looking good for a long-side try
if MS looks to be closing above $16.10 today near the close we would be interested in a small bucket 2 long position. the broader market will also have to be closing near the highs. stops could be set at $14.75 or so with a price target near $18