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 […]
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 […]
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
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: