Sunday 16th Feb:
This post contains an update of some some of the stocks that I have been tracking. Some of these were posted mid-week in a Gold update and I will discuss these stocks first off:
This post contains an update of some some of the stocks that I have been tracking. Some of these were posted mid-week in a Gold update and I will discuss these stocks first off:
SLW: This was @ $25.28 when I posted mid -week and has held up from the triangle break and is now sitting @ $25.38. I sold puts on this during the week:
ABX: This was @ $19.57 when I posted mid -week and has held up from the triangle break and is now sitting @ $20.34:
AUY: This was @ $10.26 when I posted mid -week and has held up from a trend line break and is now sitting @ $10.57:
HL: This was @ $3.30 when I posted mid -week and has now made a triangle break and is sitting @ $3.47
NG: This was @ $3.26 when I posted mid -week and has yet to make a trend line break but is getting close. This is now sitting @ $3.44:close. This is now sitting @ $3.44:
Other stocks:
HPQ: this has now closed above the key $30 and I'm on the lookout for any hold above this level as it would support a bullish 'inverse H&S' break:
WEN: I'm still on the lookout for any break of the $10 level here:
XLF: I'm selling CSNP along the way here:
CAT: this has delivered over 10% after being flagged for a triangle breakout!
BHP: this needs watching as it nears a possible triangle break:
CPB: this is setting up in a potentially bullish break from an 'inverse H&S' pattern. The $43 level is the 'neck line' here. These patterns have delivered bullish moves on DIS (Disney) and WAG (Walgreen) and these charts are posted below:
DIS: bullish 'inverse H&S' move:
WAG: bullish 'inverse H&S' move:
EBAY: watch out for any channel break here:
INTC: this is looking bullish as it holds above the $24 level:
LOW: watch out for any 'flag' break here; up or down!
MSFT: holding above the $37. Another monthly candle close above this level would be quite
bullish:
MRK: has continued to hold after the trend line break from the $50 level. This level should develop into new support here:
Sunday 9th Feb
S&P500: this index has had a 50% fib pull back now and that might be all we will get for the time being. There is a possibly bearish 'Head and Shoulder' pattern building so caution with stock trading is needed, as always.
I've been looking over my charts and there are, however, a number of stocks that continue to look quite strong and / or are bouncing off support. I've charted these below:
AVP: bouncing off support:
CAT: triangle break holding:
CPB: a bullish inverse H&S might be forming:
INTC: the $24 level continues to be significant:
LOW: might be a new Bull Flag forming:
MRK: holding above the $50:
MSFT: $37 still key:
NKE: the double top delivered and may have now completed. There might be a new Bull Flag forming. Watch the trend lines here:
NUE: support trend line holding:
TGT: the H&S has delivered some move but I'm watching for any return of strength:
TJX: the double top may have completed here too:
AA: holding above $11 and looking strong:
ADBE: has kept yielding after the triangle break from last year!
BAC: holding above the key $15:
BK: daily support broke BUT is this just a Bull Flag forming up? Watch trend line breaks for clues!
HPQ: an exciting stock for sure. Watch for any break of the $30!
MGM: keeping on keeping on!
M: holding above the key $50:
PFE: the $30 level is key here still:
SLW: one to watch for sure if Silver keeps moving up!
WEN: watch for any break of the $10 here. There is history of much higher here!
YHOO: The $40 level still vital here but may be a Bull Flag forming here too:
Monday 3rd Feb
AA: Alcoa:
This stock continues with its impressive rally and has managed to close out January above the key S/R level of $11. I will continue to trade this stock with Puts, Calls and Covered Calls.
AA monthly: there is a lot of upside potential here:
AA monthly expanded: A bullish monthly candle:
AA weekly:
AA daily:
I am travelling at the moment but will update more stocks during the week.
Stocks sold off a bit after FOMC but we haven't seen the same risk aversion across currencies today. It's been rather quiet and may just be the calm before the storm. I have no idea but as a trend trader, once a new trend is in place, I'll tag along.
S&P500: I'm keeping an eye on this for any bearish follow through. The daily support trend line is still in place at the moment:
Nikkei: is now back below the key 15,000. My chart is not updated for today's fall but gives an idea of the importance of this level. I do note it is ticking back up again now and I'll be keen to see where it closes for the day; above or below the 15,000?:
BHP: a bearish H&S setting up?
CPB: a bullish inverse H&S might struggle now:
KRFT: I had been expecting a bullish breakout but maybe not so now:
NKE: I had said to watch for any break of the $75:
TGT: this bearish H&S seems to be unfolding as expected and posted earlier:
TJX: this one is unfolding as suspected too:
AVP: is down near support:
AA: still holding above the $11 level for the time being:
ADM: room for a pull back here and the trend line break suggests this move might be starting:
BAC: holding above the $ 15 level for the time being:
HPQ: I'm still stalking this at the $30 level:
KMI: had a bad day:
MU: this is holding on surprisingly well. I'm still long here from the triangle break and the $6!
SLW: stalking this one too:
WEN: still stalking the $10 level here too:
KMI: keeping an eye on this one:
Sat Jan 18th 2014:
NKE: pushing lower:
TGT: getting down to near the key $60 support:
TJX: pushing a bit lower as well:
AA: has broken up through the key $11 level; a move that I have been stalking for some time. I 'spotted' the wedge breakout some weeks ago and this move has already delivered over 25%. The bullish break has a lot more room to move as the weekly chart reveals. Today's bullish move, following on from Thursday's close above $11, was for a 3% gain:
AAPL: still above support for now:
HPQ: getting close to a possible bullish inverse H&S breakout. The $30 level is key here:
MGM: does not seem to want to pause at all.
SLW: watching this in case Silver keeps going:
LLY looking bullish still:
Jan 18th 2014
Some interesting charts:
EEM: Emerging markets ETF: symmetrical triangle:
GWX: Small Caps ETF: ascending triangle:
IWM: another small caps ETF:
USO: Oil ETF: triangle building:
UUP: USD bullish index: another triangle building:
Jan 17th 2014
Some more chart updates:
S&P500: we have not avoided a 'double top' just yet. Keeping an eye on this over coming sessions. There are still some stocks that look bullish although some look ripe for a pause or even pull back:
CPB: watching for any bullish break to suggest a inverse H&S pattern might evolve:
MSFT: the $37 level still critical here:
NKE: looking a bit wobbly. A pull back would not be out of the ordinary here after such a long bull run. Elliott wave on the weekly suggests this might be in store :
SWY: triangle brewing still:
TGT: this has two separate H&S patterns, one on the daily and one on the weekly! The $60 level seems critical here. Elliott wave on the monthly chart is suggesting a pull back but to down at just over $50 so it might not fall too far:
AA: got the close above the $11 level today. My Put order did not fill overnight....sadly:
AMD: still up under the $4.50:
HPQ: getting exciting now! I sold some more Puts here today: Feb $26 @ $0.27:
LLY: I posted this yesterday saying it looked bullish and that I had a buy signal!
WEN: keeping an eye on this too:
TJX: this has had a very bullish run. Elliott wave on the monthly chart is suggesting a pull back and I'm watching a possible 'double top' on the daily with the neck line being at the $61 level:
Jan 16th 2014
BAC: positive earnings helped to lift BAC overnight. BAC is holding above the $15 level and this stock looks bullish:
BAC has already delivered significant gains since the triangle breakout back in September 2012. The more recent break of the $15 S/R level is another opportunity to trade this stock.
I currently hold the Jan $15 Puts that will expire worthless and Feb $15 Calls. These Call were bought for $0.63 and can be sold today for around $2.20. That is a current gain of 250 % for the last 3 months: (2.20-0.63/0.63) x 100.
I am looking at the following trading options:
- The Feb $17 Puts are @ $0.35.
- The Jan 2015 $17 Call is @ $1.92
- I am also looking at buying the stock at $17.15 and selling the Feb $18 Call @ $0.15 cents.
Expired ROIC = (0.15/17.15) x 100 = 0.87% for 37 days. AROIC= 8%
Exercised ROIC = (1.0/17.15) x 100 = 5.8% for 37 days. AROIC= 58%!
I will look for any pull back to the $15 level as opportunities to buy into this stock.
(commission not factored into calculations)
AAPL: this has held above the daily support trend line:
CAT: holding up and out from the triangle break:
KRFT: heading for a bullish triangle break out:
AA: still watching the $11 level:
HPQ: also watching here for any break of the $30 level:
LLY: this is looking bullish and I had a buy signal a few days ago.
KBE: I'm watching for any close above the $35 level. I have been trading this for the last few months. This ETF seems to respect fibs:
INTC: watching the $28 level here too:
NFP last Friday brought some USD weakness and it remains to be seen how this will impact stocks. There are still some that are showing bullish patterns though.
CAT: triangle break still holding
AAPL: just holding above daily support but another bearish day might trigger a TS sell signal:
BK: struggling at the $35 level
HL: getting support with the bullish move on Gold/Silver and I'm on the lookout for any triangle break here:
Macy's: the bullish break has given over 10%:
MGM: the gift that keeps giving. I'm still long Calls on this one!
PFE: holding above the $30 level:
SLW: another Silver stock that is getting interesting. The $20 has been major support and looks like it might keep holding again. I'm watching for any triangle break here.
XLF: keeps going too!
YHOO: holding above the $40 and, the longer it does so, the more bullish it keeps looking:
Jan 5th 2014
ABX: has made a bullish break up through a bear trend line. Price has yet to break above the Ichimoku Cloud though. I'm keeping an eye on this:
AMD: Advanced Micro Devices: This has made a break back above the Ichimoku Cloud and broken above a recent daily trend line. I've also had a TS 'buy' signal:
BK: seems to be going to try to break through the $35:
X: US Steel: This continues to trade higher following the triangle breakout. X has also recently given a new TS 'buy' signal:
YHOO: still above $40:
XLF: Financials ETF: still looking bullish:
AA: getting to closer to my new 'Buy' zone of $11:
Jan 1st 2014:
A Happy New Year to all!
Here are 10 stocks that have sparked my interest to start my trading with for this year:
A number of stocks have made significant technical achievements to close out 2013. This places them in potentially strong positions for trading in 2014. Some stocks have made, or look to be trying for, bullish break outs. I've taken a look at these stocks and made some notes on them and the trades I'm looking at taking. Other stocks that continue to be of interest on my watch list and that are close to key levels can be found in my analysis at my Stocks:Dec page:
NB: The Jan 14 expiry trades are only 17 days off.
NB: The Jan 14 expiry trades are only 17 days off.
CAT: $90.81
CAT has closed bullishly up and out of a triangle pattern on the daily chart. These patterns have been very successful determinants for me during 2013. I also received a TS 'buy' signal on Dec 20th which is still valid. Price is above the Ichimoku Cloud too for added confluence and there was a recent bullish Tenkan/Kijun cross here too.
CAT has closed bullishly up and out of a triangle pattern on the daily chart. These patterns have been very successful determinants for me during 2013. I also received a TS 'buy' signal on Dec 20th which is still valid. Price is above the Ichimoku Cloud too for added confluence and there was a recent bullish Tenkan/Kijun cross here too.
INTC: $25.96
This stock has made a bullish close above the $24 level. I'm looking for any continuation on to close above the $28 level. Price is above the Cloud for added confluence and there was a recent bullish Tenkan/Kijun cross. I also had a TS signal to 'long' this stock on Dec 23rd:
This stock has made a bullish close above the $24 level. I'm looking for any continuation on to close above the $28 level. Price is above the Cloud for added confluence and there was a recent bullish Tenkan/Kijun cross. I also had a TS signal to 'long' this stock on Dec 23rd:
Trades:
Jan 14 $25 Put @ 0.20
Jan 15 $27 Call @ $1.65.
KRFT: $53.91
Watching for any bullish or bearish break here. Price looks to be trying to break up and out fo the Cloud though:
Watching for any bullish or bearish break here. Price looks to be trying to break up and out fo the Cloud though:
MSFT: $37.41
This has made another bullish monthly close for the year above the $37 level. The November close above $37 was the first monthly close above this level since June 2000, a period of 14 years. This is also the first yearly close above $37 since 1999, a period of 15 years, and is quite an achievement! Price is trading above the Cloud but there was a recent bearish Tenkan/Kijun cross although this was a 'weak' signal.
This has made another bullish monthly close for the year above the $37 level. The November close above $37 was the first monthly close above this level since June 2000, a period of 14 years. This is also the first yearly close above $37 since 1999, a period of 15 years, and is quite an achievement! Price is trading above the Cloud but there was a recent bearish Tenkan/Kijun cross although this was a 'weak' signal.
Trades:
Jan 14 $36 Put @ 0.20
Jan 14 $37 Put @ 0.46
Jan 15 $37 Call @ $3.45 (expensive:I'm obviously not the only one chasing this!)
NUE: $53.38
NUE has closed the year above the $58 level and this is the first close above this level since 2007. Price is trading above the Ichimoku Cloud and a bullish Tenkan/Kijun cross looks like it is trying to form, as is a new TS signal.
Trades:
I'll look to sell $50 Puts and buy $50 Calls on any dips.
YUM: $75.61
YUM has made its second only ever close above the $75 and the first yearly close above this level. $75 might prove to be the new floor for this stock:
AA: $10.63
I'm watching for any weekly close above the $11 level now. AA hasn't closed above $11 on the weekly chart since Oct 2011. Price is above the Cloud for added confluence and there was a recent bullish Tenkan/Kijun cross. There was actually a TS signal to long back on Dec 18th 2013:
Trades:
I'm waiting for a close above the $11.
BAC: $15.57
BAC has made its first yearly close back above $15 since 2009 which is impressive. Price is trading above the Cloud but there was a recent bearish Tenkan/Kijun cross although this was a 'weak' signal.
Trades:
Jan 14 $15 Put @ 0.12
Jan 15 $15 Call @ $2.06
PFE: $30
PFE has made the first yearly close above $30 since 2003! I'm waiting for anew TS signals and for price to emerge from the Cloud before considering any long trades here though:
YHOO: $40:44
YHOO has made the first monthly close above the $40 level since Nov 2005! This is some achievement! It gave a bullish Tenkan/Kijun cross at the end of October and a TS to long on Nov 26th 2013:
Trades:
Jan 14 $39 Put @ 0.29
Jan 15 $40 Call @ $6.06 Too expensive! (Again...others must be keen here too!)
No comments:
New comments are not allowed.