PCX mar 20 Call update

Here is an update on PCX. We entered the March 2011 20 call options @ .67. Today we hit our first target. of 19.82 and the option got up north of 2.00 for a moment before pulling back some. I am looking for this position to retrace to 78% of April's highs which comes in @ 21.15. There I will shave another piece of the position. There are still 78 days remaining till expiration and I feel we can fully retrace the April highs which comes in at 24.25. I know a couple of you guys are in with me and I know some of my buddies over at Tidetraders.com picked some up with me as well.

www.tidetraders.com is by far the best trading chat room I have ever experienced. The quality of traders, in several of the chat rooms they offer, are some of the best traders you will come across. I spend most of my days in there and along with posting many of my trades on Twitter, I post most of my trades in the Tidetrader's chat rooms. If you have not taken a moment to visit www.tidetraders.com, you are doing yourself a serious injustice. This is by far the best place to get your PHD in trading the markets. Oh yeah, did I mention, IT'S FREE.



Here is a link to the PCX Video

http://www.screencast.com/t/zRscj58E2



Monthly Chart of PCX




Weekly Chart of PCX




Daily Chart of PCX

BPOP seeing bullish activity

I have accumulated some Jan 3 call options in BPOP. I also own this name in common shares and am looking for a fundamental turn around story in this name with my thesis that 2011 will be a good year for the financials.

Here is a link to John Paulson's holdings of BPOP, this is information I researched in December 8, 2010. He has accumulated north of 66 million shares in this name.

http://www.gurufocus.com/StockBuy.php?GuruName=John+Paulson&p=1

I am beginning to see some bullish activity hit the calls and today was a day where the calls were 3X the norm. Here is a small article on this.
Unusual Options Activity Review For Tuesday, December 28, 2010


Bullish Flow

Popular (BPOP) shares gained a nickel to $3.08 and options volume hit 3X the recent average daily after 12,000 calls and 175 puts traded on the San Juan, Puerto Rico bank. February $3 calls were the most actives. 7,680 traded. Most of the action was in smaller lots. The top trade was 638 contracts at 25 cents each and traded on the International Securities Exchange, where sentiment data indicate that a customer bought-to-open a new position. April 3 calls were busy as well, with another 3,380 traded. No news on the stock, but the flow seems to reflect expectations that, after about seven months of mostly sideways trading, BPOP shares are due to rally in the months ahead.


Read more: http://www.theoptionsinsider.com/unusualactivity/?id=6107#ixzz19aPgwA4i
The Options Insider: Your Inside Source For Options Information

I have also made a video on this and here is the link to it.

http://www.screencast.com/t/xd3sqJeP

Trade well

Pete

January Effects

Here is a list of some January Effects stocks I put together,

AONE
BYD
BPZ
BZ
FTK
GMXR
HOV
LNET
MNKD
PMI
SOMX
SQNM
SPF
SVU
STP
UTA
YRCW

Here is a link to a video with further description and what I am looking for

http://www.screencast.com/t/1yOyF3rM

Trade well,

Merry Christmas and Happy New Year!!

Long NTAP jan 55 Call

I entered NTAP jan 2011 55 call today @ 2.60. I posted my entry this afternoon on Twitter and here is a follow up video of my thoughts and targets.

http://www.screencast.com/t/tODZAQ4iuQ

Some perspective on the Major Indexes

Here is a review of the major indexes and a couple of ideas we went over at the 3 hour class the was held for free last week at www.tidetraders.com.

If you guys were not there, you need to make it a priority to check out their site. Last weeks class I believe is also archived. We caught many opportunities this week in the Financial space, the Energy space, and some really nice solars as well.

I spend most of the trading hours in the members room shooting equity, futures, and options ideas with great people who are also professionals and great traders.

There is a ton of information and education on the free site as well.

Here is a link to a video of the major market indexes.

Please copy and paste link on to your browser,

http://www.screencast.com/t/ETaj6Txhlp

Flag Patterns

Here is a video of a couple of stocks that are flagging and have good possibilities of moving.

Just copy and paste the link on to your browser,

http://www.screencast.com/t/eRdbhUec5J

Video of more stocks to watch

Here is a video of a couple more stocks to watch.

Just copy and paste the link on to your browser,

http://javascript:void(0)www.screencast.com/t/REjxARndtqTU

Tidetraders

Hey guys. Just wanted to inform you again about a fantastic chat room to hang out in while trading.

www.tidetraders.com is the website. The Rickster, J-P, and a new addition to the team, The Witch Doctor who specializes in Forex, are a wonderful group of guys who trade, educate, and are on air live throughout the day during market hours.

They are coming up on their one year anniversary now and every day they continue to make improvements.

They trade Equities, Futures and Forex, the room is jam packed with people who are eager to share their thoughts and any information to newbies. It is a professional environment with super sharp traders, and by far the best trading chat room I have experienced.

The Rickster is up over 800 points on the S&P E-Mini Futures year to date. Both he and J-P share with you well over a combined 30yrs experience in trading their thoughts and trades.

The Witch Doctor is new on the scene but appears to be a great addition and further enhances their great service by bringing a wealth of Forex experience to the table.

Their are several parts and different chat rooms at Tidetraders. There is a paid version which for a nominal fee gives you insight to their weekend update full of priceless insight on past week, upcoming week and just their thoughts on the market which continues to be extremely profitable for all those who are members. I speak from experience and anyone who is a paying member will vouch for that.

The paying members make it possible for the Rickster to be on air during all market hours and share some of his trades insight and years of experience. He is also available for questions, obviously with time permitting as you can understand. This again is a professional site with hard working individuals in there to make a profitable living every day. So with that being said, please do not spam on this site. If you wish to share any information that advertises other sites or your own, PLEASE make sure to inquire with Rick, J-P, or the Witch Doctor prior to doing so.

I have no affiliation with them aside from being a part of their fantastic chat room.

This is by far the best way to get your PHD in trading these volatile markets.

I implore you to check out this site. It will positively, 100%, no questions asked make you a better trader and more importantly put more money in your pocket when all is said and done.

So come share your ideas, questions or just part of you day with the Tidetraders


Once again the site is,

www.tidetraders.com

Status Update

Hey guys and gals. First off, I apologize for having the Blog dark for the last month. I have been taking care of personal issues and trading mainly Futures for a couple hours a day.

I hang out in the Tidetraders chat room for part of the day. I post most of my trades on Twitter and they can be found on the sidebar of my Blog.

I will start the videos up again as soon as possible.

Thank you,

Trade well

9/26/10

I had issues with my recording software. I tried recording a couple of videos and after four attempts I finally compressed it all into one and shortened it substantially. I continue to stalk the stocks mentioned last week. Please refer to the archives to find last week's videos.

Here is a link to market review and some analysis.

http://www.screencast.com/t/M2IwNzVkYjUt

In addition to stock covered in last weeks video,I will also be looking at,

LHO - mentioned in video
RIG - nice consolidation a breakout would offer substantially higher prices
CRUS - looking for it to get possible momentum again
TEN - coming up on resistance, watching for either a breakout or slight pull back
MS - area of support, looking for it to hold

A look at The Major Indexes

Here is a link to a video on the Major Indexes

http://www.screencast.com/t/NWE0Nzdh

Sector Review

Here is a link to a video on sector review

http://www.screencast.com/t/YzNlMjE3NTA

Stocks I am Stalking

Although this Market is at a crossroads and what can be perceived as critical area, there are still many opportunities out there. Here is a list of stocks to watch, also stocks that I have been stalking and will continue to, looking for good entries. Keep in mind that timing and risk management is key.

Here is a link to a video on a couple stocks I am watching

http://www.screencast.com/t/M2IwNzVkYjUt

ECA position update

I was stopped out of the ECA aug 32 call position on Friday @ break even on the last piece. A bit frustrating after being up over 150% but 1/2 the position had been shaved @ +50% and did not want to turn a winner into a looser.

Tomorrow is FOMC and I have my ledger extremely light. I am at over 95% cash on my Day trading account. Have just been trading futures intra-day until the market gives me some solid direction. There are plenty of nice setups out there and I feel we will get the opportunity to trade those in the very near future. The rates should stay unchanged, lets watch for the wording and the Fed outlook to see how the markets react.

Pete

Major Index Review

Here are two video links of the Major Indexes, it was only supposed to be 1 video but my internet went down the last couple minutes.

Total duration of both videos combined is about 25 minutes.

http://www.screencast.com/t/NDJmZmQxO
http://www.screencast.com/t/NDgwMjNjOGE

Enjoy your weekend.

Pete

ECA Position

I started a position in ECA today. I bought the Aug 32 calls @ .30 this am as depicted in the side bar ticker provided by Stocktwits. When I purchased these I had witnessed some accumulation in the name and also the 30 day Implied Volatility was below 30 with a 20 day Historic Volatility value of 33.

There is a downtrend in this name that is still intact, however I found that $30 seemed to be a good area of support for the time being and also noticed an inverse H&S pattern on the 30 day/ 30 minute chart. Understanding that there is only 16 days left to expiration, I shaved 1/2 the position off @ .45 later in the day and am looking for ECA to get a continued push up to 31.90 if it can clear the neckline on the inverse H&S that comes in at 31.50

With Oil prices north of $82 and the dollar sliding about 10% in the last 2 months coming to rest at the 200 SMA, I thought ECA would be a good Basic Material play for a short term push at a minimum. If 31.50 gets taken out I will look for 31.90 followed by the 50 MA at 32.05 and possibly a push up to the downtrend line around 32.25.

Break even at expiration in this position is 32.30. I do not plan on holding it all the way till expiration. I have shaved 1/2 the position and will look to take some more off into strength.

Depicted below is a daily chart and a 30 minute chart provided by Think or Swim

ECA daily


Notice the short term bottom at $30 and the green down trending line as discussed above

ECA 30 minute


Notice the Inverted H&S and resistance at the 31.50 level as discussed above


Trade well,
Pete

UNG stopped out

I got stopped out of my UNG sep 9 Calls for a loss of .02 yesterday. I did not like the fact that the pattern looked to be falling apart and Nat Gas was taking a beating. Today it regained some of the losses from the last 2 days. I wanted to take some risk exposure off, but will continue to monitor UNG in days to come. Today's piercing pattern got it back above the 50 SMA. If it can get above the 5 SMA I will look to possibly get long this name again.

Trade well,
Pete

Massive Action Hitting F Sep Calls

I am noticing massive action hitting the F sep 12 and 13 call strikes



Here is the chart. It traded between roughly 10 and 12 for the last couple months. Earnings gave it a nice push up and after bull flagging looks to be getting a nice push up and seeing massive action hitting the 12 and 13 Sep calls.

Stocks To Stalk

Hope every one had a great weekend. I will be stalking the following stocks for this upcoming week. Please keep in mind when earnings are reported.


I am still holding UNG Sep 9 calls with a cost basis of .21. Check out the nice setup on this one. Nice base pattern with a nice Cup & Handle



If the market gets a lift I will be looking to intra-day trade the following stocks. I will focus closely on these and if others come along I will try to post them on Twitter as I enter the positions. We are still in a sensitive area on these markets and they can rip higher or get smacked down just the same.

APC



BIDU



CBOU



CLF



CROX



CMG



CRM



FFIV



JEF




Having issues with ToS so unfortunately will not post the rest of the charts, but here are a couple more to watch.

MELI
NCR
OVTI
RIMM
RINO
RVBD
STRI
VECO

Continue to watch the ags., AGU, IPI, MON, MOS

I also like some XHB and the setups in that arena

HOV
DHI
BZH
LEN
JOE

Copper has been heating up again so keep an eye on FCX, SCCO and TCK which pretty much have their hands in everything and about 18% exposure to China.

Trade well,

Pete

Stocks to Watch

Today the bullishness continued with help from good earnings and the the New Home Sales numbers which topped estimates.

I may or may not take these trades, will need the setup to develop, but the following stocks will be in my Cross-hairs tomorrow

AMSC - own some will look to trade around position
LEN - I still own some DHI and HOV
CNP - will be out before earnings
SYNA- looking for it to extend further to 34 only a daytrade for now
YGE - above 12.60 looking for it to go to 13.50
TCK - Reports, looking to set up a bull call spread depending on the earnings reaction I am looking to put on a possible Sep 37/41 Call spread

JBHT - continue to like the truckers
RBCN - picked up some today looking to add on strength but will exit prior to earnings.

Today I did pick up some CREE aug 75 calls @ 2.55 shaved a piece off @ 3.85 looking for the stock to go to 77. I still on 3/4 of a full position

I also picked up some USU @ 5.29, AGO @ 16.48, and RBCN @ 32.91 which I am swinging.

I will also continue to watch yesterdays list as the setups are mostly still intact.

Please keep in mind we are short term overbought and a pull back is warranted and would also give a buy the dip opportunity at least for the time being.

We have taken out the downtrend line and the 200ma mentioned in previous videos, but need to maintain vigilance as we continue to be in earnings season and the market can move on news as we all know.

Tomorrow we have the Case-Shiller at 9 am est. and Consumer confidence numbers up at 10 am est.

Please manage your trades effectively and allocate accordingly at all times, keeping in mind risk management is key.

Trade well,
Pete

A couple of stocks I will be tracking very closely this week.

The markets yet again tried to prove as many people wrong as possible. While many were thinking we may go lower the markets surprise once again. She has shrugged off some negative news and continues to push higher. We are short term overbought here and might see some consolidation if not a bit of a pull back. We are in earnings season and that can keep the current market volatility intact. We have seen impressive reports out of companies which has helped heal the markets some. The week before last, the markets were looking very weak. The turnaround last week with fairly good volume has given the bulls some fire power and forced many shorts to run for cover. There are still many shorts camping out and if these markets can sustain some upside momentum we might witness large moves higher in part due to short covering and money from the sidelines that will be put to work by fund managers in fear that they will miss the ride up yet once again.

With that being said, I believe last week was a positive one for the bulls that can help build stronger momentum. As always use proper money management and allocate accordingly when taking on trades.

Some stocks I will be watching super closely and trading this week are,

IPI - 21% short ratio I continue to like the Ag space here (DBA and MOO)
IOC - 10.8% short ratio
BG - I will be looking to get net long some call options here nice Inverted H&S.
AGO - looking for a break of resistance for a possible $1 move up at minimum
OII - looking for a break of resistance
CREE - looking for a move to $77 look at some 75 calls or verticals
MELI - 19.8% short ratio, looking for a breakout


Keep a close eye on Basic materials as well (XLB)

A couple of lower priced possible movers

HOV
GSI
SEED
HEAT

I am leaning bullish this week again and will use proper stops. Keep in mind that the market can humble even the most seasoned veteran so please use proper money management.

XHB continued to see bullish call buying so watch the Home builders closely.

With oil prices moving up and being in Hurricane season, keep an eye on the oil names along with the Solar space.

Lastly watch Real Estate. If we do continue to push higher the Tide will tend to lift all boats so just make sure you are on the right side of the markets

Trade Well,
Pete

Review of the Major Indexes

Here is a link to a video review of the major market indexes.

http://www.screencast.com/t/MWEwNDQ3

Sector Review

here is a link to a video on Sector review for the week of July 19th.

http://www.screencast.com/t/YmUxZWM2ZWI

A look at a couple Favorites

Here is a link to stocks I monitor everyday, There might be some good setups forming here for intra-day and longer. Stocks mentioned in video AKAM, CRM, DECK, LULU, NFLX, VMW.

http://www.screencast.com/t/YmUxZWM2ZWI

Stocks I'm Stalking for Monday

Here is a link to a video of some stocks I will be stalking for Monday July 19

http://www.screencast.com/t/OTc5M2U1OTE

SPX Analyzed

This Graph out lines the video content covered on the SPX video link below.


SPX Chart courtesy of Think or Swim

Here is a link to a video on the SPX.

http://www.screencast.com/t/M2UxZWEwOWE

Stocks to Eye

I have mentioned this list to a couple of you several times. So forgive me if you already have this list. I had a couple people ask me about go to stocks in case we saw a bounce and I will go ahead and list a few here for you.

CRM, NFLX, DECK, AKAM, VMW, SNDK, RVBD, NTAP,

These are a couple of names that have shown relatively descent strength even in the face of market weakness.

Hope this list helps. There are many others but these are the ones I currently give great attention to. Good rule of thumb in my opinion is to just think of the Bellwethers in each sector and follow those.

Trade well,
PeteV

Review of the Major Indexes

Here is a link to a video covering my thoughts on today's market action.

Indexes covered in this video

SPY, IWM, QQQQ, DIA

http://www.screencast.com/t/MWI1NDc5Z

Trade well,
PeteV

Stocks with Unusual option Activity

Here is a link with some stocks that had unusual option activity today. I also listed a couple that I am stalking for possible further weakness.

Stocks mentioned in this video,

LCC, LUV, MOS, ILMN, GHDX, MSG, AKS, STLD, CMA, NVS, KBH, CSX, FCN, CPB, DAN, CTRP
ADS, BKE, CAAS, MYL, PFCB, VECO, GPI, ITW

http://www.screencast.com/t/MzY0Y2ExY2

Trade well,
PeteV

Major Indexes

Hey guys, I am back from my break, took about a month off. Thank you for your patience, the Blog will be updated 3 to 4 times a week and I continue to work on another platform which will allow me to have the video content embedded.

For now Here is a link to my thoughts on the major indexes.

http://www.screencast.com/t/YmI1ZGNjMDYt

Sector Review

Here is a link to a sector review.

http://www.screencast.com/t/YWI1OTM2ZG

On Vacation

Sorry the Blog has been black, I am on vacation and will pick things back up after the first week of July. Thank you and trade safely

A look at the Major Indexes and more

Here is a video link with my view of the major market indexes and a couple of stocks I am watching.

http://www.screencast.com/t/MzA1YWM0YW

Vacation

Have been away for the last couple of weeks, just peeking in on the markets here and there. Might be a little snap back rally possibility in the works, but ultimately I think we go lower here as the major indexes and most sectors continue to be in a downward trend, accompanied with horrible job numbers and further European issues I think we will retest the Flash Crash and February lows at a minimum. I will be in and out for the rest of the week. Also will be hosting Tidetraders.com chat room for the Rickster a couple of days while he takes some time off. Talk to ya guys soon.
Trade well.

Ugly Day, Stay Away

Just wanted to get a quick video out on the major indexes and cover some market posture. This is a fantastic time to Sit on Hands (SOH). We should expect market volatility of this 3 figure nature in the DJIA and several point percentage moves in most financial instruments for weeks to come.

If you are not a professional I would insist that you use this time to raise cash and sit on the sidelines. Don't misunderstand me, this is a great time to be a intra-day trader, but even those individuals can get their chops licked in this environment.

After the "Flash Crash", May 6th action, we saw, it further confirmed our thoughts to get hedged and use great caution. That day I got stopped out of most of my long positions and posted a couple of videos with ways to benefit from a down market. You can find those thoughts and videos in the archives. They were posted on May 10th and May 12th. This video link is a review of those positions and just forward looking thoughts.

Please be cautious in this environment. I anticipate we get a snap back rally but much over head supply should mute the bulls. Take this time to possibly sell longs into strength and further accumulate a CASH position.

http://www.screencast.com/t/MTlhNmRlYW

Good Time to be a Hunter

We might see some further weakness. Do not lose focus or throw all your cards in. These times are great to sit on hands and look for great setups on stocks that we have been wanting to get into for a long time and the market just did not let us. Remember, one must be vigilant and trade what the market gives us, also remember that the market tends to try to prove as many people wrong as possible. With that being said, as everyone is starting to talk about getting short, don't be surprised if the market does not surprise once again. This is a good time to tighten up stops and look for low risk entries. Just remember the Volatility is a bit inflated which means we should see large swings. If you can not handle the volatility, do one of two things, trade smaller lots or sit on the sidelines and wait for the volatility to subside.

Observations on the Major Indexes

Here is a link to a quick video on the Major Market Indexes
http://www.screencast.com/t/OGMzNWZiZ

ES Futures Trade Update

I got stopped out of my /ES Futures trade this morning as the markets continued to sell off. -4 points.

ES Futures Trade

Getting long the /ES futures here @ 1148 @ 5:07 est. With the $TRIN closing over 2. I will look for a morning push up I have stops set @ 1144 for now risking 4 points.

AUY Option, Turning it into a Guaranteed Winner

Here is a link to turning our AUY jun 11 calls into a vertical spread, opening up some different options for us and making this trade a win win scenario. No matter what it will always be a winner.

Here is the link to the video

http://www.screencast.com/t/YjdkOTc1YWYt

A Couple Of Position Updates

Hey Tidetraders who followed me on RRI and all, I am shaving a piece off the RRI my 4 calls we entered Tuesday @ .15 and .20. I have shaved some off @ .45 here and looking for further upside in this. Bringing stops on the rest to .30.

Options Chain provided by TOS




HOC

I noticed some nice activity on the Jun 30 call strike, here is a Chart and an Options Chain provided by TOS



I added HOC jun 30 calls @ .85



TPX

We have traded this name several times before and it is back in that channel on the daily. I have also noticed some interesting Call activity in the name.

I added a small position of the jun 40 calls @ .70 will look to add if it pulls back to the bottom of the channel

Here is a Chart showing the channel and Option Chain provided provided by TOS






Remember, you can follow my trades live on Twitter, Stocktwits, and Tidetraders.com

Quick Market overview

Here is a link to a quick market overview of the major indexes and some previously mentioned ETF's to benefit from if the market does decide to decline.

http://www.screencast.com/t/NzBjOWFiODQ

Quick Recap of the Major Indexes

Here is a video link to some market recap of the major indexes and some ETF's that were mentioned in previous posts if the market does decide to turn to the downside.

http://www.screencast.com/t/NzBjOWFiODQ

Positions that Stopped us out

Here is a video link on positions I recently got stopped out of.

http://www.screencast.com/t/Y2U1MTg5

Stocks mentioned in this video include, V, HNZ, TCK, BA, and HLIT

Stopped out V +100% first 1/2 and 50% on 2nd 1/2

Stopped out HNZ - 50% on the 47/50 call spread

Stopped out TCK @ 40.00, - 1.50

stopped out BA @ 67.00, -4.00

Stopped out HLIT @ 6.00 -1.00

Also not mentioned in the video I got stopped out XTEX @ 10.00 for a 1.50 loss from last entry @ 11.50

Update to MED position

Here is a video link to the MED position we took back on 3/26/10, this is an update and my current thoughts on it.

http://www.screencast.com/t/MjVmMWJmODY

Here is a link provided by Stocktwits TV of when we entered the MED position

http://www.stocktwits.tv/talk-your-book-with-dr-phil-pearlman-040110/

Updates on some Gold positions

I shaved another piece off the GG jul 45 calls @ 3.60 today for +2.40 gainer. I have moved my stops up to 2.40 on the rest. Our entry was an avg. of 1.20 on this position.

I also shaved another piece off of SA +7 points, brought stops up to $33.00 for now. I might consider selling some covered calls in my IRA on this position or collar it up. Need to take a closer look at the options for this.

I am still holding and added to make full positions in IAG, CDE, and AUY common.

I added to my AUY jun 11 calls yesterday payed up and brought my basis up to .50. I will look to take 1/2 off this position @ 1.00, it came very close today but I did not get filled, so for those who took this with me keep that in mind, rule of thumb, ya gotta shave some off at a double. I don't care what anyone tells ya!!!

I also added some EGO jul 19 calls @ .75 today

Bullish Activity in MUR

I noticed some bullish activity in MUR today. The thing that caught my eye was the fact that investors are going after the out of the money calls on MUR for the front month. The may 60 calls were purchased between .25 and .35 per contract. With 10 days left and 9 after tonight, these call buyers are looking for some movement to come quickly in this name. The strike does have a Delta of .16 which would be about a 50% gainer if the stock moves up $1.00. The Implied Volatility is fairly priced when compared to the Historical Volatility. The stock needs to close above $60.25 to $60.35 depending on what the premium paid was. If the position is held to expiration the investor will need the stock to move up 8.2% or $4.57 from today's close price of $55.78.

MUR Option Chain, provided by TOS



There was also some action that crossed the tape on the Jun strikes. I like the fact that the IV is below the HV here, so the option is not juiced yet. I will keep an eye on this position and look to possibly enter the Jun 60 call @ 0.90 to 0.95. With a Delta of .26 and a favorable IV to the buyer.

MUR Trade Break Down, provided by Livevol



MUR Option Action, provided by Livevol




MUR reported EPS on 5/5/10 and missed estimates coming in at 0.77 vs. 0.99, this started the selling and then Thursdays and Fridays action continued to push down.
This might be a case of bottom fishing or maybe something else brewing here. At any rate the daily looks like it is setting up for an Inverse H&S pattern which could push MUR back up to the $60.00 area, it will have to contend with the 50 and 200 MA and also the action in the Crude market but I feel it is one to keep on your watch list.

I also like the fact that Crude appears to be at a good area of support. The daily on the crude can be classified as a bear flag and might find further weakness to the 70 level. If that happens and I am in the position more than likely I will get stopped out. I will keep this in mind and see if we get a lift in Crude, also keep in mind how the U.S Dollar trades as it should affect Crude. If the dollar pulls back a bit we can see Crude find a bid.

MUR daily Chart, provided by TOS



I will update if I enter a position in this name.

Large lot of SPY jul Put Spreads

Saw a large lot of SPY 112/102 bear Put Spread cross the tape at 1:46 est. 1 investor put on this spread via 39,000 contracts.

TOS July options chain for the SPY




Info provided by LiveVol

Major Index Recap and Outlook

I did anticipate a relief Rally, just not this strong this fast. The weekend news on the European Relief Plan did not solve any issues but looks like it cleared up some uncertainty. Here is a link covering the major indexes.
http://www.screencast.com/t/YTgzYThkODU

/ES closing out the last piece

Looks like we have tired some, and to tell you the truth I did not anticipate such a massive push. Might be forming a possible H&S here and I got real lucky catching this move so gonna take my chips off the table and walk away with a real nice winner. Closing out the last piece here @ 1156.50. If 1152 gives way, I will look at it again at the 1148 area to see if it holds.

Long 2 /ES contreact s @ 1136.50

Getting long 2 /ES contracts @ 1136.50 @ 11:20 pm est tonight stops are @ 1133 for now and shaving 1/2 off @ 1146.50 if we get there. Think this whole IMF bail out which in reality is not really new news, should give us a real nice push.

Weekend Update for 5/09/10

Video link to 4 of 4
http://www.screencast.com/t/YjEwOTQwZ

Weekend Update for 5/09/10

Here is the link to video 3 of 4

http://www.screencast.com/t/YmNhMGM3

Weekend Update for 5/09/10

Here is the link to the 2nd of 4 videos,

http://www.screencast.com/t/MTc3NDE1

Weekend Update for 5/09/10

Here is the link to the first of 4 videos.

http://www.screencast.com/t/NDI4ODhmZj

Hi guys, hope you all had a great weekend and Mother'd Day

I recorded some videos earlier today and had to do some of them over. I am having issues with my recording software and once they are resolved I will get the video links posted on here. Thank you for you patience.

BPOP update

I have shaved off most of the position but am still holding some of the Jul 3 call strike options. Today however, there have been over 19,700 contracts traded on the front month may 3.50 puts. The Chart is starting to roll over a bit here and looks like it might pull back to the 3.25 area. The volume is lighter on this pull back though. We still have time in this position and technically it is a free trade as we have shaved off several times including a piece at 300% . i will continue to hold some of the position and maybe add on a pull back to the 3.25 area, depending on how the markets are doing at the time and how BPOP is doing. Currently I have my stops on the remaining position on a close below the 50MA.


BPOP daily


BPOP Option Chain intra-day

IWM and QQQQ

The IWM which has led this rally for several months, closely followed by the QQQQ's are lagging this sell off when compared to the SPY and DIA. They are also very close to the 38.2% retracement form February low's though. If they catch up to the SPY's and DIA's sell off which would see January's highs, there is still room to the downside 5% on the IWM and about 2.5% on the QQQQ's respectively.


IWM


QQQQ

Markets at sensitive areas of Support here

The SPY and the DIA have pulled back to sensitive areas of support. These levels also coincide with the 38.2% Fibo retracement which come in at the 107.15 level on the DIA and 115.42 on the SPY. These levels should hold and might offer some buying opportunities. Although if these levels give out the bulls can experience further pain.



SPY


DIA

CAL & UAUA update

Continental Airlines did not get the spike I was looking for. The deal ended up being a stock deal that gave every Continental share holder 1.05 UAUA shares. I got stopped out the rest of the jun 21 calls for a nice gain, stopped out of the 24 and 25 calls for a small loss.

Continental and United set to Merge

Continental and United set to release merger deal information on Monday. I mentioned this in a previous Video post. Appears to be an all stock deal, for those who took the CAL jun 21, 24, and 25 call options with me. We are in the green handsomely in these positions and looks like the deal will be finalized by the 4th Quarter. Appears that Continental share holders will get 1.5 United shares. When I get back into town this week I will review and calculate our positions to see how we might benefit best. Here is a quick link to some news on the merger.


http://www.nytimes.com/2010/05/03/business/03merger.html?hp

Quick Note on our BPOP Jul $3 Call Option

Just wanted to post a quick note on BPOP. We entered BPOP jul 3 calls a couple weeks ago @ .30. We have shaved some of the position as it has pushed up in our favor. The daily chart has a nice Bull Flag type pattern and our position is currently trading at 1.20.

I just wanted to point out that the FDIC seized 3 banks in Puerto Rico today. We got into this position on a technical setup and after I noticed massive bullish action being taken via the purchase of Call options. It is offensive sometimes to see how certain people and institutions have access to certain information before the common everyday individual does.

Here is a link to a recent article,
http://finance.yahoo.com/news/Popular-Inc-Assumes-Deposits-bw-1801126839.html?x=0&.v=1

I will continue to hold the position as I think it should see $5 in very short order.

I will continue with my daily posts when I get back next week.

Have a great weekend.

Quick Note on Gold Stocks

Hi guys, just wanted to post a quick note. I had SA trigger long for me on Monday. Yesterday I had GG, IAG, CDE and AUY trigger long, even in the face of the dollar strength. I have brought my stops up on all of these names and will continue to do so as they move, I ultimately have a longer term bullish outlook in Gold and think we can take out the highs in the next 6 to 12 months.

Will try to post as much as I can being away and all, but will be back next week to full time

GOOG Offering a Low Risk Entry

Hey guys, I will be away most of the week but just wanted to point out GOOG, it is at a great support area here offering us a low risk entry. $530 looks to be a good entry with a stop at $526.00

OXY May 90 Call Update

Most of you guys who took this trade with me know I got stopped out on 4/19 for a loss. I continued to stalk it as it held the uptrend line and re-entered the position on Friday 4/23 @ .88. I know some of you guys took the trade with me on Friday and we did shave some of the position off later on that day @ 1.40. I have now brought my stops up to 1.05. I think Oil might continue to get a lift. After the impressive sessions on Thursday and Friday crude managed to fight its way back after selling off pretty hard during the day especially on Thursday. Keep an eye on the Dollar and look for Crude to hold the $84 to $83 level. If those levels give out tighten up those stops on the energy trades. For now I am looking for Crude to re-test the 4/6/10 highs of $87.10 and then $89. Keep in mind OXY reports earnings on 4/29/10 BMO.

BPOP Bull Flag, Pennant Type Consolidation

I have owned BPOP jul $3.00 Call options for quite a while now along with some of you guys who took this trade with me. I followed the Whales on this and it has been paying us off beautifully. We have shaved some profits and will continue to do so. I am just pointing it out at this time, not to front run it, but to bring awareness to the chart. There has been continued accumulation in this names call options for quite a while now. Keep an eye on the chart as it has retraced 100% of last summers highs and continues to extend. We can see massive volume in early April after it broke an area of resistance at the end of March as depicted by the light blue line. At that time you can notice the volume started to pick up and then absolutely exploded. Now this stock appears to be resting via a pennant type or bull flag consolidation on lighter volume. Keep an eye for continued upside in this name. Watch the Volume for confirmation and conviction.

Next Targets

127% Fibonacci extension = $4.27
A/B Measured Move, the Flag Pole = $5.20
161.8% Fibonacci extension = 5.29

CTB update

I still own CTB with an avg price of 21.80. I currently have my stops set @ 19.20.
You can see there is a Cup and Handle type formation and a couple of inverse H&S as depicted by the white ovals. Look at the increase in volume on the push higher and now we are seeing a decrease in volume as it consolidates via a bull flag type. I am looking for this thing to push the Cups measured move of $5.00 which gives me an ultimate target of $26ish.

My targets are as follows,

The 127% Fibonacci extension = $22.37
The 161.8% Fibonacci extension = $24.04
Cup and Handles Measured Move = $26.00ish

If the position starts pushing up I will trail my stops accordingly

LUK pulls back to previous resistance

Taking a look at LUK, you can see that it is pulling back to previous resistance which seems to be acting as support. I am not trying to front run these things and full disclosure,I own the jun 30 calls which I entered @ .30 as a starter position in case it pulled back to previous resistance, which it has and looks to have made it new support via a bottoming tale hammer. Now I am looking to add here @ .15 to 20 to lower my cost. I had A stop @ .05 which I will move up if the position starts to work.

ATPG

I continue to be a Cautious Bull in the markets and especially in the Energy and Transport space. This week I will be focusing on Gold and Energy stocks. I will be away but I have me orders set.

Here is another good looking chart.

ATPG

Nice push up on increased volume and now consolidation via a bull flag and decreasing volume. Keep an eye on this as it might get a push up and give us the A-B measured move via a C-D extension to the $27.50ish area. Also note the volume as it is increasing.

A few more Gold names to keep an eye on

SA


RGLD


NEM


KGC


IAG


GOLD


GFI


EGO


AUY


ABX


AEM