Bucket 2: We Are Long SPY
We are long SPY at $127.25 Profit target around 129 but would likely take the cue off teh S&P 500 itself, if it gets near 1300 we would certainly take full profits. Stops are near 124.50 Don't feel entirely comfortable with the trade but we sized it accordingly.
Walgreen (WAG) Two-Sided Opportunity
Walgreen Co. (NYSE:WAG) with its nearly 7000 drugstores and specialty pharmacies has a firm grip on this industry. Fundamentally speaking the company is keeping up its sales momentum despite the economic slowdown. The weekly chart looking back to 2007 shows the uptrend off the bottom in 2009 is still very much in place although […]
Research In Motion (RIMM) Upside To Fill The Gap
Shares of handheld device maker Research In Motion (NASDAQ: RIMM) have taken a hard stumble since its most recent high back in February. The stock fell from $70.54 all the way down to a $28.82 in mid June and as such is currently back at levels last seen in 2006. Of course some of […]
Taking Profits In OpenTable (OPEN) Short
On May 4th OpenTable (OPEN) offered us a great opportunity for a classic 'short calls' Bucket 3 strategy after the stock dropped hard due to earnings. As expected the stock never saw the pre-earnings levels again and the calls that we sold are now worth a mere 5% of where we sold them at. So, […]
Euro Stoxx 50 Breaching Major Uptrend line
As flagged several times the past few weeks, the Euro Stoxx 50 index was in danger of breaking a major uptrend line that has been in place since May 2010. That uptrend has now officially been broken as the index closed below it two days in a row and today is continuing that slide. […]
Pizza Rally! Dominos On Fire
After announcing its earnings on May 5th, Dominos Pizza has rallied 28% in just about one month. Papa John's (PZZA) has also staged a major up-move over the same time-frame. I've pointed out the massive gap in the chart of DPZ several times this year so I wanted to follow up. See the chart […]
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You say : Trading Plan? We say: You cannot trade without one Consider our trading plan: 10 different high-probability trading and investing setups 25 colorful charts describing each setup visually How to setup your charts for each trade setup Where to place profit limits and stop orders How to manage risk in each trade […]
Taking Final Profits On VMWARE Short
Yesterday we took initial profits on our short calls trade on VMW. Read HERE. Today VMW is down another 1.40% as of this writing and we are taking the rest of the profits and thereby closing the trade. The profits accumulated quickly in this trade and we are happy to take the risk off the […]
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Dominos Pizza (DPZ) – Rising Dough
Back in 2007 DPZ started a massive sell-off that took it from a high at $35.67 to a low at $2.61 just 18 months later. Since the bottom in late 2008 DPZ has staged an equally massive comeback and currently trades around $18 and change. The longer-term picture I look at here has to do […]