NYSE:PFE is certainly a dog but, it has put in a higher low and the moving averages are starting to turn up. I like to go bottom fishing occasionally. PFE is my new candidate. I have an alert set just above the current price where it may move above short-term resistance, around the thin blue line. If it triggers and I take this trade, I can put a stop close by...
... for a 1.74 credit. Comments: Back to short puts here, targeting the <16 delta strike paying around 1% of the strike price in credit. Just gradually building a position here at intervals.
Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume. You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in...
I now can label the rally as ENDED in the IWM . Most are looking at this rally as a break out I am worried if this breaks from here .If it does based on the P/C models we would break and it would be UGLY .
can keep sl at 154 , we are back at June 2018 lets in this snoozefest of an index, maybe time to wake up when nothings in its favour , contra call
The Russell 2000 trailed the S&P 500 significantly in 2023, gaining about 17% compared to a gain of about 24% for the large cap index. That underperformance has spilled over into 2024. Year-to-date, the Russell 2000 is about 2% compared to a 7% gain in the S&P 500. By the way, that valuation measures make the small cap Russell 2000 index much more compelling when...
... for a 171.23 debit. Comments: Buying stock and selling the -75 call against to emulate the delta metrics of a 25 delta put. This setup gives me a slight bump in premium over selling the 25 delta put due to call IV skew, along with built-in position defense with the short call. Laddering out over time after flattening out at the end of the year. I'll...
AMEX:XLB a basic materials ETF has been basing for almost a year. Today it broke out just above the most recent flat base. As auto generated by this LevelUp chart. I have started a ¾ sized position as it is a slower mover so I can go bigger to start a position. My stop is just below the most recent low, which is just over a 5% stop loss. Ideas, not investing /...
Here is IWM bouncing off of the 5ema while also in the process of confirming an Daily inverse head and shoulders pattern. The inverse head and shoulders will be confirmed once price breaks 199.53 and this could give IWM a chance for continuation to $205+.
Let's take a look at the Russel 2000. This index seems to be the only one between the Dow, Nasdaq, and S&P that is failing to break to new ATH while they are. What we're seeing is a triple top/triple resistance in Aug 2022, than again February 2023, and again August 2023 which was confirmed with a break down to the lows of October 2023 before more manipulation...
... for a 179.87 debit. Comments: Doing another one of these in March with a short call strike and cost basis better than what I currently have on at the 186. Selling the -75 delta call, buying a Johnny one lot to emulate a 25 delta short put in order to take advantage of call side IV skew. 3.13 max profit on BPE of 179.87; 1.74% ROC at max; .87% at 50%...
... for a 181.70 debit. Comments: Buying stock and selling the -75 call again to emulate a 25 delta short put that is "defense ready" via roll of the short call. 4.30 ($430) max on buying power effect of 181.70; 2.37% ROC at max; 1.18% at 50% max. Will generally look to take profit at 50% max and/or roll out the short call on price's traverse of the short call...
NYSE:TGI I have had my eyes on this one since the big volume breakout on December 21st. I did not want to chase it, so I have been waiting for a pullback and re-breakout. I have that this morning. See chart for notations. I started a one third size position here with a stop on any close below the breakout trendline. Ideas, not investing / trading advice....
$483 coming soon 💭... $470 by EOM.. I've got a repetition of July Top and Pullback in play here. Potential to lead to something much more serious.
MSFT saw a nasty reversal today. Closing down more than the Nasdaq. All indices close negative = broad market selloff. Powell comes out hawkish & sends market lower. All eyes on Apple tomorrow!
Epic Reversal on Microsoft: worlds largest company. All sectors sold off despite falling yields. Powell irradiates March rate cut. Dollar close to breaking out of bull flag pattern.
IWM is trying to break back out of the channel it's been in since April 2022. It broke out briefly in late December, but was rejected. This second breakout attempt looks promising, and usually leads to ATH after this much consolidation. Lots of earnings reports this week, but if the market holds up, small caps should have some room to run.
AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low...