norok

norok Wizard

Taking a pre-earnings hedged debit spread play on AET Long and ANTM short. I am looking to get one of the two Option spreads to max profit of 5.00 through Q2 earnings.

norok Wizard

I was looking to go long on a break of resistance expecting it to begin before the weekend. No long setup materialized Wednesday. Instead of progressing upward prior to the -chart- timing elements and the perceived -fundamental- timing element of The Halvening this bar I woke up to this morning changes the forecast. It look as if we are in for more...

norok Wizard

BP has been slowly moving up with the price of oil since April. This has not yet destroyed the long term bearish momentum on the Monthly timeframe where the downward trend is still intact. Price has now gotten to the top of the Weekly cloud to contain the overall long term bearish trend. At this point it's a "line in the sand" to determine long term sentiment...

norok Wizard

Yesterday I took a day trade off a day trading cloud breakout strategy on JNPR. When price closed below the cloud and setup a pivot I set an alert for a break of that pivot low to trigger a breakout short strategy. Since jumping into options when price is moving is a recipe for getting terrible fills I have to wait for a pullback. The pullback comes when price...

norok Wizard

Taking a pre-earnings play on NWL at matching support on the Weekly, Daily, and Swing trading levels. The September 49 Calls are at average Implied Volatility so I'm taking singles. The top of the consolidation range and a break thereof will get the Calls ITM. Current Market Outlook I follow the theory of Sector rotation in terms of what the movement of money...

norok Wizard

BTCUSD has broken the Daily resistance value of 672 I've been eyeing since the bottom nearly two weeks ago. We had a period of choppy consolidation as was suggested by the daily chart being shocked by the volatility. I expect the retest of the high to go through July. Most probably the move to get through the High Retest zone will be on July 8th, a Friday. Why...

norok Wizard

FLIR has reached a multi-timeframe resistance level at 30.34. Taking options with a timeframe through earnings with OCT16 29 Puts looking for the stock to follow the seasonal bearish movement in August to get the options below the pivot low and ITM.

norok Wizard

SKX today had unusual Call Volume. Some traders are betting on this going up. The long term action on Monthly and Weekly is showing this stock to be bearish. The move today brought the stock up to Daily resistance. I'm looking to test this resistance with short term JUL 16 29 Puts, holding them for just a few days, to see if this is the top of the move up. ...

norok Wizard

The US Stock Market (using the E-Mini Futures as a guage) are hitting key resistance this morning following the post-Brexit fall and rebound. If price holds here the downward movement will continue. If we break the resistance the market will go higher into the summer through July. I am looking at hedged market plays with IWM and QQQ Options.

norok Wizard

CVX reached a major Monthly Resistance in the past week and today saw major volume in sold shares and bought Puts which drew my attention. CVX Option volatility is still above average so the best play would be buying Vertical Put Spreads. Buying the September 16 95/92.5 Spread for $0.58 yields a greater than 3:1 Reward/Risk if it reaches max profit. I'm aiming...

norok Wizard

Bitcoin held 672 Daily Resistance and may now consolidate over the next two weeks between the Resistance and the Weekly Support level. While price action is still bullish for the long term it has failed a fast retest of the high indicating that the bullish trend we've seen since March is now over and a major pullback is underway. While Hodlers may still be...

norok Wizard

This week we open the VIX in a new Weekly range not seen since the first months of the year. The 32.08 Resistance will be the next timing for the bottom of the S&P while the 22.29 Support will time the next highs. The VIX has an inverse coorelation with the market; when the market as a whole goes up, the VIX goes down and vice versa. Finding major Weekly...

norok Wizard

During this recent phase of volatility in the Bitcoin market I've begun experimenting with the futures at OKCoin. While I'm told most true Mooninites and Hodlers use full 20x leverage I've found no reason to go beyond 10x. It is still an attractive prospect to those that want to put entire accounts on the line to win the lottery (tomorrow). I wanted to see what...

norok Wizard Updated 

Citigroup is at a Multiple Timeframe Resistance 3 weeks prior to earnings. Volatility is low with the VIX down and earnings far enough away to buy Single October 40 Puts. Looking to get ITM by September.

norok Wizard

Bitcoin has hit it's first resistance on the Daily at 672 following a bounce off the 571 Weekly support level. Now the Daily timeframe is going to control price. This weekend is going to be critical for price to break the resistance. If it has not conquered it by Monday the Daily will begin to turn bearish and we could retest the 571 level and potentially make...

norok Wizard

I am sick and tired of reading armchair fundamentalist quipping in a tone they think is so wise that "Bitcoin UP on Brexit! {insert witty remark}" If making and reading commentary is your hobby then by all means continue but talk is cheap; it's not going to make you any money. Let's assume for a minute that you do somehow have a crystal ball for a fundamental...

norok Wizard

With both Bitcoin and Litecoin hitting major Weekly resistances they have pulled back hard. The next support on LTCUSD itself is 3.23. If price recovers it will have to conquer $5 to go any higher. The positive correlation between Bitcoin and Litecoin remains strong. In this bearish move Litecoin moved down 40% off the high while Bitcoin moved 30% off the high...

norok Wizard

Price has come off the high all the way down to the support. I must admit I thought it would take more than 1 Weekly bar but with such a volatile market price has reached support now. I can finally say at this point I am "comfortable" with people buying. I myself will be watching the lower timeframes for bullish trade setups to hold this level.