Taking Further Profits In Eastman Kodak Trade
As discussed here on the blog on Dec 15, I've entered EK for a trade to the upside. Today the stock is up 4.5% so far and my second profit targets have just been reached. I will hold on to a fraction of my position for potential further gains but will tighten my stop. Should […]
Saleforce (CRM) Dropping, Taking Profits
As mentioned here on the blog on Dec 14, I am short some calls on CRM due to the drop zone below current levels. I still think this name has further to go although there is always the nearer term threat that fund managers bid up the name into year end. The nice thing however […]
Coinstar (CSTR) Looking Precarious
CSTR is off 15% or $10 since December 13th. Shorter term moving averages are clearly pointing down and just crossed the rising 50 day moving average. While volume hasn't been anything extraordinary, what's sticking out at me on this chart is the large 9 point gap looming below $55. Regardless, I most likely won't be putting […]
Wells Fargo
It's been a busy trading morning for me. Straight down to support around SPX 1173, bounce, and now slipping lower again. If we can't hold SPX 1173 on a closing basis I think 1155ish is the next stop. I am watching the price action of the banks today as they are better bid, and […]
Watch CMG & GLD
Have a look at Chipotle Mexican Grill (CMG), chart below. I flashed some light on this guy recently (scroll down on the blog), saying the practically vertical movement of the stock price is worth watching. What I am looking for is a short-term top that will signal with some very clearly bearish candlestick formation. So […]
Chipotle Mexican Grill (CMG) Looks Over Extended
Chipotle Mexican Grill (CMG) is up roughly 180% in 2010. Earnings have come and gone and won't be up until another two months. Spying over to the options market I see $300 strike calls with lots of juicy premium. I would think it's a decent bet to say CMG won't rise above $300 by January, or even March.
This morning it's Europe again that's front and center. This time Portugal seems to be worsening by the minute and as a result it's credit spreads are blowing out and the Euro is getting more fists and elbows. Speaking of the Euro, it's now blown below the key 1.313 level I mentioned yesterday and […]
Dollar Rally Time
This morning it's Europe again that's front and center. This time Portugal seems to be worsening by the minute and as a result it's credit spreads are blowing out and the Euro is getting more fists and elbows. Speaking of the Euro, it's now blown below the key 1.313 level I mentioned yesterday and in […]
UPS Looking Buyworthy On Daily And Weekly Charts
UPS looks like it wants to break higher and by doing so leaving significant resistance benind it at the 70/71 level. Below I pasted a daily chart showing this pattern, but if you pull up a chart of UPS yourself, make it a weekly chart and look back three to four years, you'll see the […]
Research In Motion
RIMM is breaking higher and above its 200 day moving average on a solid 4% move so far today. I'd like to initiate a small starter position on a pullback