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

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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...