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Institutionallevels

FCX at Support w/ Momentum DivergenceVolume Spike on Friday at support brought a pin bar like candle on extremely noticeable momentum divergence. I would look to get long at the closing price of Friday; however, the more conservative trade would be to wait for a break of Friday's high or even a close above that price. I would look for a retest of the first major resistance level around $37 - profit target put just in front of that level. There should be some resistance seen at $36 as well which would be a good level to raise stops to break even.
NYSE:FCXLong
by JoeHayes
SWN is about to get see some energy. SWN bounced off support the past 2 days coming of a 'double bottom' Bat Pattern at major support which happens to also be precisely at the .618 retracement of the larger leg which is very visible on the weekly chart. This is all coupled with some very sizeable momentum divergence from the 'B' Leg swing point to where price has currently found some stabilization. There was above average volume on the support level touch which created a reversal candle. I am looking for a retest of the 'B' Point of the identified Bat Pattern. And yes. I am terrible at catching my 'Title' errors before it's too late. Sigh.
SLong
by JoeHayes
BA likes to Swim for Recreation but curretly needs Air.Ignore the MA Death Crossover that BA underwent just recently. BA at this very appealing support level should become a necessity to buy up for any fund holding it. There has been some noticeable bullish momentum divergence to boot and a look to the 4hr chart indicates that we should see a little pop in the coming days to keep us out of danger. Look for a retest of 130. This should provide a nice 1:2 R/R opportunity for most. Also, wish I could edit title to correctly spell 'currently'.. 8/22/14: due to the hanging man yesterday and the solid run up thus far: I'd raise any stops to under yesterday's low.
NYSE:BALong
by JoeHayes
3
USO weekly options expiry - small net short for institutionsThis week's options expiry suggests institutions will end the week net short about 600 contracts or about 60,000 shares. They had a vested interest (net 1500 contracts) in ensuring price did not move below $36 and I see they have basically done exactly that. Considering seasonality issues, one shouldn't be surprise to see their net short exposure. The question really is, what is their actual cost on that net short exposure (ie. strike - avg. premium collected)? Because of the significance of the $36 level, long ideas worked well today. I was fortunate to play a BoT long but there really wasn't a long Euro close into Options expiry setup to take. Regardless, that bias off the $36 level may evaporate once the expiry event occurs. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor
AMEX:USO
by CRInvestor