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Strong Finish. GLTA tomorrow!
3 attempts at 10 with no joy. Just took profits at 9.73 and looking for a pull back to the 8.60 to 9 level. I got out of this one too early once already; my luck with SWHC it will probably break 10 tomorrow GLTA! I hope to be back in soon.
A "little" (emphasis on a little) buying today. Haven't seen that in a while. Maybe we have some news on the way. GLTA!
Technically, I believe BAC is a coiled spring at the current level. If they beat, we likely go higher and test resistance at the 8.20ish level. If they miss or meet estimates we probably go lower. I see downside risk around 7.15 and upside at 10+. IMO the risk/reward ratio at current level is worth a long bet, but I say that from a personal dollar cost average in the low 7s and holding a lot of leaps bought at the low 7s and high 6s. GLTY!
PS: It will be tachnically bullish if BAC can close at the high of the day.
Decent vol. We need it to get through 16.44. Not today
May be slipping a little bit, but the real story is the vol. A lot of buying today, and it's deep throughout the financial sector. I'm hoping financials spark the next ralley. Just need C and BAC to beat. I think it is very possible. GLTY!
PS: Max pain on the options indicates $8 before the 21st is in the bag.
http://www.option-calc.com/optioncalc/
IMO, a Monday run toward 8 is very possible if it closes above 7.72 today. 7.72 was strong resistance that would become strong support. There is not much resistance above the current level until the 8.23 area. With the strength the banks are showing today, some follow through is likely. GLTY!
Yep, Like EOD. COB = Close of Busines
Covering has commenced! Chart should look pretty good by COB. GLTA!
I'm trying not to watch. I don't want to jinx it GLTA!
Somebody is noticing. The vol has been great and the price action superb. It looks like it wants to get to $10 today. GLTY!
I'm even today at 8.39 Maybe we close a little better.
GLTY!
I'm thinking it is a little too quiet here for a 5% move. Closing in on $10! GLTA!
12 Jul 12; BoA announces the redemption of more subordinated notes. These redemptions on the notes and preferred stock keep quietly piling up. At some point BoA will announce the savings in the form of dividends and buy-backs. GLTA!
http://www.cnbc.com/id/48168464
If this market can find a way to go green today, BAC can probaly get through resistance at 7.71. That would set the chart up for a nice run with an upside earnings surprise. GLTA!
Quote: "BAC no excitement here"
I'm excited! BAC up when the markets down. That is definately a change of pace.
Al,
I understand your frustration and I hope your wrong. I have had similar thoughts, more than a bunch of times. I will be kicking myself in the a$$ if this has just been a CEO ego and lack of concern for shareholders, because I had ample opportunities to get out in the black and didn't.
But I've seen the products and have realtively good idea of the potential. If they pi$$ it away, it will be very disappointing.
Quote: "It doesn't take much to make a company appear healthy."
I agree with you; it shouldn't take much. Also, hard to believe business is as dead as the PR activity for the last few months has suggested. We had quite a bit of activity going on in Q3, heading in to Q4. I can't believe it just died off.
Thanks Teeroy,
Sharing some of the same frustration. Hoping the audit gets us back in to the .07+ range with some volume. I've had buy orders in the .05 to .06 range for about 300K and managed to get a couple of partials for a total of 48K. Hardly worth the two $10 in commissions.
The fundamental problem with Virtra IMO, remains the fact that nobody knows about this company, other than our Ihub circle and those who bought and forgot. The silence has been hard, but I choose to believe it's part of a strategy, and I hope successful one. GLTY!
JJ8,
I suspected your 7.48 expired and you were going after a lower level.
I just picked up 60 $10 Jan14 contracts. Couldn't resist .88; typicaly I buy in the money; but I'm convinced we will see 10+ before Jan14 and I can afford to wait for it. I'm still holding a bunch of $7 Jan14 calls but I have watched 60%+ profit erode to 20% in the last week or so. GLTY!
180+ point swing in the DJIA today. May be a bullish signal. A lot of weak hands getting flushed out today. Hope I'm right for the sake of all longs. GLTY!
Jett,
Great post. I agree with your conclusion with exception of 16 target. I think the bottom at the 50 dma (~17.18) is pretty solid with the recent accumulation/distribution. I will be a big buyer of CHK call leaps if we get back to 16 to 17 area.
The long-term success of the US economy is dependent on NG and IMO we are already late in transitioning. Hopefully our politicians wake-up and avoid a crisis. Time is our friend with a company like CHK, which is why I like the leaps. GLTY!
DJIA and S&P both trading at their 50 dma. Either we bounce, or the 200 dma are in play and the market goes ugly; but then again that is what everyone is expecting??
Knocking on the door of that 7.48 At this point I'm thinking there is some catalyst that is going push the market higher near term, or we will get to buy BAC again in the low 7s. Part of me still wants to see the gap at 7.14 to 7.18 fill. Market is trading very funny right now. Going to stay patient.
I just filled out my position at 8.39. Didn't think we would see it. But believe this has do be a good entry point over the next few months. Max pain for call options July through December is solidly at 9+. We may still see 9 this month. GLTA!
Another good day for SWHC on another lousy market day. $10 doesn't look too far away at this point. GLTA!
I appreciate it. They've beat the estimates down so hard, I'm thinking an upside surprise isn't out of the question. Didn't want it to get completely away from me if they surprise. IMO, the downside is limited to around 8.40 unless they really tank on earnings.
Hoping Alcoa can muster an upside surprise
This is one of three stocks I own right now (13 of them total) that is green today. Nice to be here
Thanks dominik,
I took a nibble (1/3 of my expected position) at 8.60 earlier today. Now I wait and see. GLTY!
Sorry for the dup Teeroy. Looks like Tess com was already listed as a distributor.
And here is another good site offering Virtra products in Italy and Romania.
http://www.tess-com.it/en/products.html?sobi2Task=sobi2Details&catid=9&sobi2Id=17
It looks to me like Virtra put on a good demonstration at the recent Eurosatory in Paris (11-15 June 2012):
http://www.eurosatory.com/#/home
Looks like Ed Dyer is getting busy in Europe. Not as good as the site you posted for Spain, but here is another one in Bulgaria carrying the Virtra products.
http://www.miltech-bg.com/index.php?option=com_content&view=category&layout=blog&id=37&Itemid=212&lang=en&phpMyAdmin=Vx1umhQH8ZdJySsDZc36BctC6ta
Looking to start a position in AA. Thinking a gap fill between 8.50 and 8.60 is a good target. Thoughts? GLTA!
I think this one comes to us when we least expect it. I'm going to stop watching/waiting for a while. Hopefully that will make it pop
I had to off-set those 7.77s I bought when I wasn't watching this mornig
I had a bid in at 7.65 for over an hour with no fill and finally said the heck with it and added at .66 and .67. Hopefully we are green on Monday and the 50 dma for BAC and major indexes holds up. GLTY!
In for another 500 at 7.67. Appears to be good strength at this level. We'll see.
I think we flushed out some weak hands today. I held Hopefully the next move above 9 holds. Another good volume day with the new higher base getting strengthened. GLTA!
$20 back in the cross hairs. GLTA!