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.