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CIEN doing me well today, up 125% on my april calls right now
I just got back in, markets have made a big turnaround from what they were doing earlier this morning
WB annotated chart
I see some good things and some not so hot things here. It needs to hold support here or it could be in danger of falling some more. The good thing is, investors are split on whether the feds plan will make a difference. If it falls much I believe those that have faith in the feds plan will see it as a good buying opportunity, this may help keep it from hitting a new bottom.
Right now financials look to be down in premarket and looks like the dow will open red as well.
I really like HURN right now, it looks like it is trying so hard to gain back what it has lost.
I'm assuming the pole you are referring to is the sudden drop in the pps??
I've not done much research on the company itself so my opinion is based strictly off the charts.
Looks to me like it was a panic sell off. The price starts falling and those holding panic and dump what they have to cut losses, as more do this it just snowballs. IMO the markets had a big influence on this as well. HURN did an extremely quick turn around off bottom and has been gaining back nicely. I love these types of plays, many refer to them as a falling knife and they can treat you pretty bad if you jump in before the bottom forms. I look for more gains out of it over the next week or so. All my opinion and interpretation of course.
We just have to be careful right now as the sharp drops and big gains over the last couple days can make a chart extremely tricky to read and most are running with the dow not on their own merit.
I seen that today, SAM had a pretty impressive move I must say and of course I didn't have any of it. I located that one by running charts of those companies expecting earnings and I liked the chart on it when I found it. It somewhat fit into what I was looking for in a chart.
SAM was part of my quest to try to predict which stocks stand a good chance of gapping up or down so we can get in them before they make their move.
DY and CIEN both trying to make some moves this morning
DY is getting heavier volume than usual for this time of the day, looking like it may be getting closer to that big push I'm waiting for.
Nice, very nice indeed
I hadn't even noticed that, in looking back at AH prints, especially those right at and shortly after close, there are none under 30.00. Thanks for bringing that up, that will definitely shorten that upper wick on today's candle making it even more attractive for tomorrow IMO.
Another interesting thing to note, in looking at April contracts for both calls and puts, on the call side there were 158 contracts traded, only 32 on the put side, almost a 5 to 1 ratio. on the March contracts it was 419 on calls and 50 on the puts, greater than an 8 to 1 ratio.
Gives a little insight to what the investor sentiment was today. More are looking for the gains to continue and are going long while only a few are looking for a fall. It's not a sure thing by any means but it's something I like to look at and keep in the back of my mind.
WM (Washington Mutual) chart 11.88
It wasn't but a little over a week ago that this one was consolidated in the 17.00 area. I wouldn't be surprised to see it back there in the short term.
I agree, it's got plenty of benefits once you start looking deeper into it. As you said, one bank can get hit with something negative and as long as it's not across the board on financial plays, the rest can possibly pull you through unharmed.
I will most likely be looking at options on UYG tomorrow
UYG closed at 29.78 which gave it a 11.70% gain, not bad at all but the April 30.00 calls closed at 3.30 which put them up 57.14% over yesterday's close.
To put that in perspective, I would have made 117.00 for every $1000 I had used to buy the stock
Had I owned the calls I would have made 114.00 for every $200.00 I had put in april 30.00 calls.
Almost like playing penny stocks except the action is based on a well established play.
Thanks, there's some super nice looking plays in that mix, especially if the rally is sustained for a couple days. I figured it was well worth the time to put it together as many that looked or will look at UYG won't look much further than the chart of the fund. I also wanted it for a quick reference tomorrow where I can look at all the major players without having to pull up each individual chart.
WB (Wachovia Corp) 29.78
I was running charts on some of the top holdings of UYG, this was one that really caught my attention. Could do well with some well placed calls on this one IMO
Chart doesn't have a super tight pinch to it but it does have one and it has started to separate. Also note today's candle, closed at high of day and the bottom wick is nearly as long if not longer than the body. If the rally is sustained this one will do very well IMO
WB (Wachovia Corp) 29.78
With the plan the feds unveiled today, who's going to get helped the most and who has been beat down the most?? The financial plays of course. Chart looking good here IMO, not a super pinch but many times we don't see those super tight pinches on higher dollar big board plays, we do see some of the same results though
Charts of UYG's top holdings
Thought this was interesting when I started looking through them, several nice looking charts in the mix that should do very well IMO Most all of them have a pinch to some degree as well.
Sorry about the length of this one but wanted to get full charts in.
UYG
BAC (Bank of America)
JPM (JP Morgan Chase)
C (Citigroup)
AIG (American Intl Grp)
WFC (Wells Fargo)
GS (Goldman Sachs)
[chart]stockcharts.com/c-sc/sc?s=GS&p=D&yr=0&mn=6&dy=24&i=p37102960323&a=133018794&r=8800>
WB (Wachovia Corp)
BK (Bank of New York Mellon Corp)
USB (US Bancorp)
One thing about it, investors seemed to love the move, the markets reacted in a huge way giving us a rally that ranks in the top four biggest rallys in history. The action taken by the Feds will benefit financials the most. The plays most beat down right now also happen to be financials. With that it is my opinion that a good financial play could do us really well. I look for this rally to continue for a couple days and I've been looking into some angles on it. One that was brought to my attention by Brikk was UYG (Pro Shares Ultra Financials) It is an ETF which has some heavy hitters in it, most of you are probably familiar with it, it's top holdings are as follows
USB US Bancorp
BK Bank of New York Mellon Corp
WB Wachovia Corp
GS Goldman Sachs
WFC Wells Fargo
AIG American Intl Group
C Citigroup
JPM JP Morgan Chase
BAC Bank of America
HURN pincher repost of annotated chart
This one is looking too good not to bring it back to the front, IMO this one is just about ready to launch and do it in high fashion. Keep in mind the annotations are from over a week ago, I thought about redoing it but not enough has changed to justify the added time to do it
I wouldn't be surprised to see the feds do that, it would actually be the smart thing to do as most investors forget all about yesterday's news as soon as the opening bell rings
Duplicate post, marked as such as I normally don't like to delete posts
PRU had an outstanding move today as well.
link back for chart
UYG definitely looking good, SPY and QQQQ also trading above HOD after hours, good signs indeed
I'm still looking for DY to do well, closed today at 12.02, april 12.50 and 15.00 calls priced very well IMO and if it gets the usual pincher action it should do very well
I think we will be good for at least another day or two. I believe there is a good chance of the green to carry into tomorrow
I think we should be good for a couple days on this little move up, I think you made a good move on that one by averaging down
I agree, we have gotten the bounce but it looks to me like everyone is still afraid to jump in as they are fearful it won't last. Those that jumped up this morning just seem like they aren't getting the normal action they would. IMO the rally won't hold for lack of investor confidence in the markets right now. IMO it will take several green days back to back to get investors to start feeling a bit more comfortable. Even if those days are just small steps up it will help.
I got out of my SVU calls last week, I managed to skate out at .20, still a loss but not as bad as it did you. I'm still amazed we didn't get any better out of that one.
I also got out of my AAPL 135 calls last week before the drop, nothing to write home about there either, I never even figured the totals on it as it was close enough to even and I sold them off at different levels. Kind of one of those that I really don't want to know.......lol
I have a couple other march contracts that are so far out right now all I can do is hope for a huge gap to bring them into play, if not looks like they will be used to average down my gains for taxes next year.
I agree, our march plays are coming to a close quickly, better to take what you can get rather than the contract expire and you lose it all. Like I've heard before, you can't play the markets without taking a loss from time to time.
Speaking of AAPL, up almost 4.00 in premarket
Stocks Head for Higher Open
Tuesday March 11, 7:58 am ET
Wall Street Appears Headed for Higher Open on Hopes of More Rate Cuts, Pump Priming From Fed
<a href=http://biz.yahoo.com/ap/080311/wall_street.html target="_blank"Story Link</a
Not looking as bad so far this morning. SPY up almost 2.00 in premarket. I look for a bunch of things to make some rebounds as many will be bargain shopping today.
EDIT: In the time it took me to post this, SPY is now up 2.25 in premarket
Second EDIT: In the time it took me to make the second edit it's now up 2.56
SCA Chart
I found this last night, can't help but wonder what's up with the big gain yesterday. SCA is a bond insurer just like ABK and MBI who both took huge hits yesterday. I'll be keeping a watch on this one as well. It's priced very attractively right now but it's also got a huge risk that comes with it.
I think there are two factors that have caused the current fall. One is that the markets in general have been just horrid lately. The other being the news from the fifth where they ammended their agreement with Solar Fabrik extending the time to secure financing. I believe many are looking at this as a sign that they are having trouble securing the financing and if financing isn't put in place they could loose the deal.
If this financing is secured, look for a big boom, All my opinion for what it's worth.
PRU Chart
Double bottom here or is it going to do what it recently did when it was close to a double bottom and fell to new lows?? I sure don't trust any financials right now in any way. I got shook out of my 70.00 puts for about a 10% gain back at the first of march when it started giving off higher lows, had I only held them I could have turned an easy 100% gain on this one. It's definitely one that I'm watching closely.
I agree, looking at the chart it does look like UYG has some more downside to it. On the other hand, as bad as everything did yesterday I'm not putting a whole lot of weight on that last candle. I looked at so many charts last night looking for anything that did well and there just weren't very many out there that had a green candle for yesterday. I almost look for many of those that took a beating yesterday to have somewhat of a bounce today. I could be wrong on this but my gut tells me that people will be bargain shopping today and that could spur some gains on many plays today. On that I don't look for big gains in any way as investor confidence has been rattled in a big way.
LHCG Chart, 16.65 pincher
Not a huge day here, but it was green. Chart looks to be shaping up nice and may be close to being ready.
YGE, down another 13.73% today, I don't know why I don't listen to myself sometimes. Called this one as a short play in the 22.00 area, down to 13.19 at close today
Link back for chart
LJPC Chart, 2.12 pincher
I've been sifting through my saved charts looking at what did what today. I'm been lucky to find green on approximately one out of ten today. This one stood out when I pulled it up. Nice tight pinch on it and it gained almost 5% today. Note todays candle has a nice long bottom wick to it and today's body engulfs yesterdays candle as well. Good sign IMO the way the markets treated everything today, this one may have the strength to pull it off.
CRAI down 39.75%, ouch talk about a hit
Financials expected to hit multi year low
Link back for chart
CIEN Chart
I'm a bit disappointed in this one today, It definitely didn't hold as well as I believed it would. I am a bit puzzled with its after hours trades though. It didn't trade a bunch AH but it had some really large orders at higher prices. I've heard all kinds of thoughts and theories about what these are from but nobody has ever been able to give a sure answer.
Below is the rundown of after hours on it if it posts correctly, any thoughts anyone??
After Hours
Time (ET) After Hours Price After Hours Share Volume
19:16 $ 26.19 866
18:38 $ 25.96 1,000
18:30 $ 26.22 134
18:02 $ 26.5789 5,000
17:57 $ 26.21 400
17:50 $ 26.23 416
16:35 $ 26.22 100
16:23 $ 26.2609 1,151
16:17 $ 26.039 15,000
16:12 $ 26.5739 5,900
16:12 $ 26.21 1,300
16:12 $ 26.5789 300
16:11 $ 26.5767 2,500
16:11 $ 26.5767 3,900
16:10 $ 26.5767 20,600
16:09 $ 26.5789 300
16:08 $ 26.5789 500
16:06 $ 26.5789 75,822
16:06 $ 26.19 100
16:05 $ 26.19 200
16:05 $ 26.19 200
16:03 $ 26.19 500
POT Chart
We definitely need to keep a close watch on this monster. It took a hard one on the chin today and tomorrow is anyones guess at this point. One thing I am willing to bet on is that when it finds bottom it will come back and do it in high fashion.
We definitely need to be careful and preserve capital, it's always been top of the list but with the current markets it needs added emphasis on it.
I could really get off course here if I started in with what I believe is wrong with the economy and how it could best be fixed. In a nutshell this country has some serious issues that will require some extensive attention to get things back to the way they should be.
The feds sending out rebate checks and cutting interest rates isn't going to fix it, it may offset it a bit but the problems that are causing the bleedoff go much deeper IMO
My thoughts on the Dow.........
If it were a horse, we would have to shoot it!!
DDS doing a slow unwind this morning
I really like this one for a short play
Link back for chart