Traders Corner   14 comments

The technicals look about the same as they did Friday, with the Williams %R being the only overbought one, although Williams is getting a bit long-in-the-tooth, going on it’s 8th day.

The S&P 500 futures are up slightly, but I read this as a “buy the rumor, sell the news” set-up for the Fed announcement Wednesday. If the S&P 500 keeps rising going into Wednesday afternoon, the technicals might reach an overbought state. Even if we get a Fed-induced pop on Wednesday afternoon, Thursday morning could bring a technical-induced sell-off. Stay tuned…

The S&P 500 levels to watch today:

UPSIDE: 1773 (top of the Bollinger Bands).
LAST CLOSE: 1759 (2 data points and the all-time high).
DOWNSIDE: 1752-1753 (3 data points), 1745-1747 (4 data points), 1740 (2 data points), 1735 (October 18th’s low), 1733 (October 17th’s high), 1729 (September’s high), 1721 (October 16th’s high), 1714 (October 17th’s low), 1711 (2 data points), 1709 (August’s high and the 20 day moving average), 1703 (October 11th’s high), 1700 (October 16th’s low), 1698 (July’s high), 1691-1696 (7 data points), 1687-1688 (2 data points and May’s high and the 50 day moving average), 1680-1682 (2 data points), 1676 (October 8th’s high), 1674 (October 7th’s low), 1670 (October 3rd’s low), 1662 (October 9th’s high), 1660 (October 10th’s low), 1654-1655 (October 8th’s low and June’s high), 1646 (October 9th’s low), and 1644 (bottom of the Bollinger Bands).

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14 responses to “Traders Corner

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  1. Looks like I will be taking a major haircut on CYOU this morning. They announced earnings. They looked pretty decent, but the stock is trading down 18%. It looks like the drop is due to guidance. When I looked at their guidance, they actually looked ok for revenues, but eps were dropping from 1.30 to 0.35. Reading through everything, it looks like they are planning an advertising blitz regarding new games etc in the fourth quarter. S I guess the question from a stockholder view is whether that is a one time cost, or is it on going? Also, what sort of revenue increase in 2014 can be expected from increased advertising? I will not be selling today. Depending on answers to questions, I might add shares in November.

  2. Bought a jubax picks OGXI along time ago. Down about 50% since. Complete dog!

    It was up 18% on a Needham upgrade and, as far as I can tell, nothing else, this a.m. Sold it all at 8.50 for a 38% loss. Already back down to 8.20.

    I’ll watch the news and do a little research but not in a hurry to buy back in.

    • There’s my good old OGXI. back down to 7.88 and dropping like a rock!

    • OGXI has one coyote ugly chart. The financials aren’t any prettier, but that’s to be expected in biotech.

      On a related note, has anyone else noticed that cancer-related biotechs are struggling lately, undoubtedly due to the sheer number of them? Every time I see an article about a biotech company, 9 times out of 10 they are researching a cancer cure. Is it any wonder that most biotechs fail?

    • OGXI is back down to 7.50. I must be crazy but still kind of like the story.

      I put in a buy at 7.30. 9 cents above its Friday closing price.

  3. I have a double position in Apple. Average cost is 488.

    5S sales look very good and I’ve seen the new I pad and I am very impressed with the speed, light weight and battery life.

    I’m planning to hold into earnings and expect the stock to continue higher into the holiday season.

    What say the swing traders in this group? Sell before earnings or hold into January?

    • Jeff,
      I think Apple is set up nicely for January earnings, considering analysts only see a 2.1% yoy growth in revenue. However, I would look to sell prior to the earnings, just in case they lower future guidance.

    • Jeff, I have five buys of Apple with an average cost of $486.81. My first buy was at $512.59 and currently I have a limit sell at $547 which would reduce my avg. buy price to $480.36. I may cancel this limit sell price because this specific buy becomes a long term (vs. short term and the taxes) in Dec. I am over bought in Apple and do want to reduce my exposure in the following weeks or months. But holding with their dividend isn’t hurting me.

  4. Jeff – I am in at 473. I am not a swing trader, but I still think AAPL is the best brand out there and has tremendous earnings power. That being said, I do have some shares I bought in November that are coming up on a year and AAPL is my third largest holding so I may sell 20% of my shares in November.

  5. Thanks for everyone’s thoughts on Apple and based on my personal experience with Android v apple phones, I agree with Marshall that Apple is the best brand out there.

    I’m holding through earnings and we’ll see where it goes from there. I do not see a lot of short term downside here.

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