update on CROX
given the sharp fall today the selling of far out of the money calls still would be a good opportunity but given that we are not getting enough premium to sell in the options (personal parameters) we would prefer to wait and see if CROX can't rally some over coming days, which we would then […]
options expiration…
this Friday…let us not forget that. there is a tendency for stocks to rise into options expiration and on the S&P 500 the 1250 level is a potential target for expiration friday.
CROX
the stock is down almost 38% right now nd we are looking to sell far out of the money calls at some point today. we would like to see the stock much off the lows when we enter this trade. right now it looks like the january or march $20 strike calls are interesting to […]
bank reversals…important
note the banks are reversing to the upside here…in europe and in the U.S. pre-market so far. see the chart of BAC pre-market below:
Gold!
a quick heads up on gold: note gold is reversing lower right here. the daily chart below shows it ran into resistance near the 38.2% retracement. a re-test of the 200 sma is not out of the question. it's not a trade here for us now but it is worth watching.
aweful risk/reward the tape today
absolutely useless this tape here again today folks. it's all computer driven as people wait for earnigns season to kick ito high gear. but mostly people are just scared of potential news…good or bad…to appear on the wires out of europe any second. best place to be here for b2 and b3 is on the […]
Morning Thoughts Oct 18
After another boring yet one-directional trading day yesterday the fireworks went off right post the closing. CROX guided down and is due to open somewhere between 30% and 35% lower this morning. The bank shank continued with Citigroup and Wells Fargo trading down on the day after their numbers yesterday. BAC this morning after their […]
the financials in perspective
we have pointed out the underperformance of the financials for a long time and the below chart shows it's gotten to a wide point where once the financials get going again they should outperform the broader market:
Game Plan Update
we remain of the opinion that the 50 sma (yellow line) on the S&P 500 is a good support target before potentially rallying up to the 1270 area or so. in the immediate term we are extended here so a rally straight up to 1270ish from these levels is more difficult to imagine but a […]
trading range update
while we think the lows for the year may have been seen at 1075 on the SPX, the highs 1370 may also have been the highs for the year. that now gives us a little perspective. it's a very wide spread between the highs and lows to be sure, but one that mentally will be […]