The trading was a bit quiet today, however the market tanked due to banks. I also think it was partially due to European crisis as well. Recently in Germany a poll was taken and it revealed that more than 50% Germans wish to go back to Deutsche Mark rather than staying with Euro. More and Continue reading →
Does the market resume its downtrend?
We are technically still in bearish territory. When you look at where SPY (for example) is trading (or you can also take a look at SPX), it is still trading below 200 day MA. It however knocked on that resistance several times (which may be a sign of a break thru sometime in the future). Continue reading →
Where is the market going? A bounce or a new trend?
Today morning I opened SPY calls position thinking the market is going for something big, maybe a reversal and better performance. When you check MACD, you can see a divergence of the current trend and the indicator. That may be a sign that this downtrend is weakening. And that was my initial reason for going Continue reading →
ACE failed as a buy candidate
As I expected ACE failed as a bullish trade candidate. It didn’t hold and fell below 50 day MA along with other potential trades I mentioned in my last post. Partially it is due to a sharp sell off in the market. Thus I considered those trades as potential candidates and not a buy candidate. Continue reading →
ACE in a bullish trade setup
ACE Ltd is now creating a new bullish trade setup. After nice run up in previous month the stock created new 52-day year high price and now is pulling back to 50 day and 200 day moving averages. It is in 50% retracement zone and it would be expected that the stock bounces back up. Continue reading →
Is Mercadolibre (MELI) breaking down? Let’s protect it!
I have a long stock position in Mercadolibre. Last Friday the stock seemed to break down from a narrow consolidation sideway range trend which occurred after a large runaway gap. Normally this would be a healthy move, but at the market environment like these days, the market can drag this stock down. This break was Continue reading →
Autonation (AN) range trade
Autonation is a stock trading in a range. Today it rebounded from the support line (see green horizontal line) and it seems it may go up to the upper resistance line (see higher green horizontal line) to complete another wave of range trending. Click to enlarge However, there are two obstacles on the way. The Continue reading →
SPY put adjusted into Diagonal Put Spread
I decided to adjust my original SPY put trade into a diagonal put spread. That will bring some income and reduce the original put cost. I have: 1 SPY Dec17 2011 124 strike put and I adjusted this trade into a diagonal put spread, so the final holding will be: 1 SPY Dec17 2011 124 Continue reading →
Options expiration Friday – November 2011
Today is an options expiration day. That means I had to take care about some of my holdings: SLV I hold long term SLV January 2012 Put contract. Against this contract I was selling covered calls and this month I sold one SLV Bear put Spread contract. This contract was as follows: -2 SLV Nov19 Continue reading →
PG trade adjustment, SPY & POT puts new trade
I am trying to trade longer term options trades. One of the trade I opened recently was long (April 2012) puts on Procter & Gamble (PG). Now I want to be opening short term trades against this trade to produce income. Same thing I am doing with my SLV long term holding and the same Continue reading →
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