Monday, February 29, 2016

$OME Double Bottom Base Breakout

This symbol has been on my watch list for some time now. Posted the following chart a couple of weeks ago about the double bottom base and the entry point of $23.68. Here goes the chart.

It broke through that entry price target today and is holding up. With earnings coming up on 09Mar16, I might wait till after earnings before I get in. Here goes today's chart.

Monday, February 22, 2016

$USO to the Downside

Been interested in shorting oil for awhile... well maybe since 2 weeks ago. I finally got into some March 16 $8.00 puts for .25. The plan is to play the volatility on today's news and the conferences taking place this week. I don't think OPEC is going to get everyone to agree on freezing output.

I don't plan to hold the put options for longer than 1-2 weeks and I'm thinking $USO will hit $8.00 and maybe even lower.

Here goes a link to crude oil futures.

Update 24Feb16

So, I woke up this morning and read an article stating that oil reserves were going to be put out today and I completely forgot when I got to work to set a limit sell order. I could've ended with a 78% profit, but had to settle for a 17% profit.

Note to self, set limit orders and don't forget about news events. Did an okay job on this trade overall though.

Saturday, February 13, 2016

$OLLI Bargain Cup w/Handle

New IPO forming a cup w/handle. Listed the buy points on the chart. The cup is about 2% deeper than I'd like but it's not a deal breaker. It closed up Friday @ $20.30.

$OLLI Cup w/handle
Also notice that every time it hits the top of the Bollinger Band (BB), it dips and recovers after hitting it's 50MA.

Tuesday, February 9, 2016

$horting $T

Was reading the newspaper yesterday and ran across an article about AT&T. I quickly jumped online to do a chart checkup and noticed a trend with the Bollinger Bands (BB). Every time the bar hit or surpassed the upper BB, the stock would begin it's downtrend to the middle band and then to the 50MA.

AT&T ($T) Chart

I purchased the Feb $36.5 put options for .38 cents around the $37 area right before the close. Closed at $37.11.

Watched the open and sold 2/3 of my position at .64 cents for a 52% gain. Holding on to the other 1/3 to see how the market reacts tomorrow with the Yellen hearing and because the markets have been volatile. Right now the put options are sitting at the purchase price of .38 cents.


Sold the last 3rd of my options today for .68 cents. I don't like holding into Fridays and plus, Monday is a holiday so I would've lost a day and some money. I still think it's going to continue down until it touches the BB middle band and maybe further.