LULU-bought the strangle on this last week Monday for 9.10, OCT 50calls/45puts. Closed today at the open for 11.85 or 30% profit. I tried to take this apart slowly as my thoughts were that we get a gap and crap (playing the odds). Closed out the calls …
$ $ $S&P 500 Technical UpdateS&P 500 OVERVIEWS&P 500 The S&P 500 closed at 1218.89 on Wednesday, August 31, 2011. The S&P 500, SPX, is up +3.58% so far this week, finished August down -5.68%, was down -…
The major stock indexes started the morning trading sharply higher. At 10:00 am EST the SPDR Dow Jones Industrial Average(NYSE:DIA) traded as high as $116.97 a share. Since that high pivot the major stock indexes have been slowly declining throughout the session. The highly traded and followed DIA is now trading lower by 0.09 cents [...]
The markets are floating higher on the day. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $122.86, +1.18 (+0.97%). The ADP Private Sector Employment numbers were released this morning at 8:15am ET. They came in with a gain of 91,000. This number was solid and the markets liked it. However, all eyes are on [...]
The Market Vectors Junior Gold Miners ETF(NYSE:GDXJ) is trading higher by 0.06 cents to $37.41 a share. The popular ETF of the smaller gold mining stocks has rallied sharply higher since August 5, 2011 when it traded as low as $31.62 a share. Traders can watch for intra-day support around the $36.85 level. Should the [...]
We have already presented updated pricing models for ConocoPhillips and ExxonMobil as based on the differences between CPI and PPI components. Our share pricing concept was introduced two years ago and predicted share prices for a few energy companies….
For over a year I have been examining how economic data in the United States has been faring relative to expectations and have been posting graphics that show the trends in five groups (manufacturing/general, housing/construction, employment, consumer …
Most traders do not put all the pieces of the puzzle together when learning and using technical analysis. Let’s talk about topping and bottoming tails. Simply put, a bottoming tail is a bullish signal and a topping tail is bearish. A bottoming tail MUST occur at the lows of a chart. This means that no [...]
LVS-bought OCT 42 calls a few times last week to average in at 3.98. Thoughts last week was that this was creating a higher low. Friday looked like either an engulfing pattern or a piercing pattern…was a little confused since Thursday looked like a b…
The markets are nearing a key resistance level. This should be short term resistance but probably not the end of the move up. The level on the S&P 500 is 1207. On the SPDR S&P 500 ETF (NYSE:SPY) the level coincides perfectly with $121.20. This level happens to be the pivot high from August 17th, 2011. [...]
