Saturday, June 24, 2017

Jun 24 - Commodities might be forming a bottom, tech looks to recover its mini crash

Took some AAPL Jul 7 128 calls to see if it can play 'catch up' with the other FAANG's.
XME/ FCX looking great and looking to add tomorrow/ Tues.

AAPL is lagging here and either it is stuck in the mud or bound to blast up.
It hasn't been able to break resistance yet and is below 38% retracement levels.

QQQ at 62% retracement off the low and broke through resistance.
FB is almost 100% retraced.
AMZN at 75%.
NFLX at 50%.
GOOG at 62%.

So I am looking for at minimum a 62% retracement for AAPL which brings it to about 150.5

Thursday, June 8, 2017

Jun 8 - Added XME Sept 33 calls

It finally poked out of its range and this one could turn into a biggie.  My FCX Aug calls may get moving too.  We'll see.  Been running so cold recently maybe this is the break.

Just moving out of the range and hopefully it closes well
 Upside target on weekly is 40
 FCX also perking up but so many teases so far.  It needs to definitively break up and out

Wednesday, June 7, 2017

Jun 7 - Blown out of XOP calls

Was up over 100% on the calls as of yesterday's close to down 50% when I sold them.  Ouch.  A lot of people were blindsided by oil getting slammed after the report today.  Still in BIIB and watching that one carefully after a red day today.  It needs to either consolidate or move up big tomorrow.

Monday, June 5, 2017

Jun 5 - Long XOP

Added to Jun 9 XOP 33 calls I picked up Friday and now have cost basis of .21
Looking for a pop to 34 but not sure what will happen after that.  I do like this spot as a long term buy though.

Positive divergence is really coiling up so this one might rip hard if it plays out
 Same thing with oil.

Thursday, June 1, 2017

Jun 1 - Strong bounce to start the month

The indexes are flying today which is not atypical of a first day of the month.  The  market is still holding up and seeing some new ATH's in the indexes and blue chip names.  Breadth recently has been quite poor though so I am eyeing a short in the week after OPEX.

Sold SKX calls for 80%, added to BIIB Jun calls and have expectations of 2-3x

Was targeting 27-28 but seems to but struggling here

SPY continues to blast up and the upper yellow box scenario isn't materializing as I thought it would.

Eyeing long in AAPL soon
 Added to BIIB Jun calls.  Great setup

Another SNAP setup.  Eyeing next week's 22 calls and looking for SNAP to hit 21 to buy them