How I see today’s price action in the stock market. Could this be a downtrend reversal? If so, we may see a resumed rally. We also rolled some of our US Steel (X) strangles into the next week.
Trading Diary #5 – stock market in confirmed downtrend
As I wrote in my last trading diary #4 the market struggled to break the downtrend line. Here is a chart I posted the other day to show my point stating that the market had to break above the line (marked with blue arrows):
DIVIDEND CAPTURE – TRIPLE PLAY (ETE) TRADE ENDS
Back in December 2016 I opened a triple play trade using Energy Transfer Equity, L.P. (ETE) as underlying. I was selling cash secured puts as long as I got assigned into the stock. After I got assigned, I kept the stock, collected nice dividend, and started selling covered calls. Today, my covered calls ended in Continue reading →
Trading Diary #4
As I wrote in my March 2017 dividend report in an outlook that the market is on crossroads of either going higher or staying on the downward path, today’s trading showed us we are heading down. Although the intra-day trading was quite impressive (see below) when the market could recover almost all losses, Continue reading →
Trading Diary #3 (LULU) down more than 23%
LULU tragedy continued this morning when the stock opened down more than 23%. Surprisingly, it didn’t have any worse effect on my account than what was priced in last night when I recorded my notes on this piece if crap. You work hard and try to improve and make a few bucks and after you Continue reading →
Trading Diary #2 (LULU) got crashed
LULU reported 1.00 EPS, WS expected 1.01 EPS. A slight miss. But the AH chart looks like an end of the world. Blame guidance which made WS over-reacting (as usual). This is a bad blow to my account. Hope, this shit will recover by tomorrow morning opening although I have very low expectations Continue reading →
Trading Diary #1
(Wednesday, March 29, 2017) Wow! And wow again. If you start predicting the market, this is what you get. I am glad I stopped predicting the market but focus on trading and adjusting those trades. But sometimes this can backfire too. Like my US Steel (X) trades which recently the stock acted so violently that Continue reading →
What a day today!
SPX opened down significantly as investors digested Trump’s healthcare failure. At least that’s what headlines were showing this morning. Evidently, they had great digesting today as the markets recovered most of the losses and went from 0.98% loss to about 0.10% at the end of the day. Let’s just hope that they will not suffer Continue reading →
(3) X strangle rolled
As the expiration is approaching, time to roll my ITM inverted strangle again (as I do not expect this one to expire worthless). In this roll I continue rolling my puts down and keep calls at the same level. If the stock continues moving higher, I will start rolling calls higher and keep puts at Continue reading →
Seagate Technology (STX) triple play adjustment
Last week, I made an adjustment to the Seagate Technology (STX) when the stock suddenly dropped. Maybe, I was a bit hasty adjusting the trade as the stock seemed to recover the losses. The sell off happened upon a downgrade from some so-called analyst who thought he could predict the future and all those clowns Continue reading →
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