JP Morgan Looking Snazzy. I’m Adding New Capi
Well, the fins are gaining further traction and are up to the tune of 1.75% if we look at the BKX. The leader of this large cap rat pack is JPM which is ripping 3.20%. I took further profits in BAC and added fresh capital to JPM as I think next week could be further uptickage, even […]
Wrapping Up Trading For A Year
I wanted to shoot out a quick message to mention that I'm hanging up my cleats for the year. It's been a good stretch and I thank you all for the support. I'm blessed to have such a great group of friends, family and work colleagues. Below is one last chart for the road. I scalped some JPM to […]
Bank Of America Trades Continue To Be Profitable
Our new BAC long continues to be profitable and yesterday hit it's first profit target. It looks and feels like we will get the santa clause rally to take us higher into year end and one of the stocks participating might just be BAC. AAPL and a few others also look to have further upside potential. […]
Baidu (BIDU) Showing Strength
BIDU put in a long tail yesterday's trading and today is up to the tune of 2.6% right now. Patterns such as these often can build a bottom. I'm not doing a trade here but simply wanted to point out the formation to share what I'm looking at. Just fyi, this formation of a down […]
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.