


BIIB showing good relative strength. I bought 1 325 Dec16 call and sold 2 350 calls for 2.10 debit.
Tried this one before, hopefully better luck this time. I bought at 8.86
Figured I'd update this USO chart with a new target (#3). Unfortunately Energy-related stocks didn't pull back as I hoped when USO nipped at target-1. However, hopefully the target-2 area will allow them to consolidate before moving higher again.
Hoping for a reversal on DUST to retest recent highs, or higher. Stop below today low. I am in at 47.97
Looking for stock to reverse lower from this 79.5 level to middle of channel or lower. I'm long the Dec23 79.5p and short 2 74.5p
Hoping for better entry on some energy-related stocks. Maybe timed with a pullback on USO??? Purely hypothetical.
BSX (22.04) just bounced off trendline support going back to 2012. Stock has affinity with it's 50-day MA, which is currently above 23. I would guess stock should at least trade back to 22.80.
VRA - Vera Bradley, I think has sold off a little too much and may bounce back to the 23.6 Fib retracement at 14.70 area. Am guessing earnings won't be as bad as market probably expects.
If it were not for the weak close on the weekly chart, I might be a buyer here. But I kinda think market may still make a more concerted effort to force longs out by dropping below channel and down to the 61.8% retracement (which is also the weekly 50-PMA). If we fall to this area and close next week on strength, that would be good short term buying opportunity, IMO.
Expect we partially recover from the weakness over the last day. Prior support around 53 may serve as resistance. And then a lower low, hopefully down to 48.5.
Boring day so far. But once this pennant resolves, might have more idea of whats to come.
FLO has pending litigation which has caused stock to fall to it's 120 period monthly moving average. Stock has not fallen below this for past 20 years, and I think should help it retrace about 23.6% of decline and fill the gap sitting there (around 17.5)
I would be surprised if volatility does not increase into election. I also wouldn't be surprised to see the low 211s at the very least tested.
Normally BBY responds well to earnings, but currently stock is testing 10-year resistance around 39. Probability dictates this will fail and IMO there is a vacuum down to the 33-ish level.
ABBV has been down-trending within channel. My prediction is for stock to either remain in channel or move below. Drug manufacturers facing uncertainty, IMO due to probability of Clinton Presidency. Low risk option trade. I am Long Dec02 57.5p / Short Nov18 55.5p. Max loss is my .46 debit. Potential profit up to $1.5.