Traders Corner   14 comments

The S&P 500’s overbought/oversold technicals are stuck in neutral after yesterday’s pop. For the momentum indicators, both the MACD and PPO are still in bearish territory, although a bit less after yesterday. On the bright side for bulls, the S&P 500 did finish above the 20 day moving average. For bears, the futures are down slightly this morning. My guess is we get a flat day today, barring big news.

The S&P 500 levels to watch today:

UPSIDE: 1862-1863 (2 data points), 1867-1868 (2 data points and February’s high), 1870-1871 (2 data points), 1874 (2 data points), 1876-1877 (3 data points), 1881-1883 (3 data points and the all-time high), and 1885 (top of the Bollinger Bands).
LAST CLOSE: 1858.
DOWNSIDE: 1857 (March 3rd’s high), 1855 (20 day moving average), 1854 (March 12th’s low), 1852 (March 14th’s high), 1849-1850 (March 4th’s low and January’s high and December’s high), 1841-1842 (2 data points), 1839 (March 14th’s low), 1834 (March 3rd’s low), 1829 (50 day moving average), 1824 (bottom of the Bollinger Bands), 1810 (100 day moving average), 1775 (October’s high), 1770 (January’s low), 1767 (December’s low and the 150 day moving average), 1745 (November’s low), and 1738 (200 day moving average).

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14 responses to “Traders Corner

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  1. Good morning, not sure if Marshall will be around today, but RIOM had a bit of a slide yesterday, a good time to jump in? So far I haven’t seen any explanation for the loss, perhaps just miners/commodities down when market up?

  2. RIOM seems to be pretty moving with price of gold. I have no idea where gold will go in the next year. But I decided that a balanced portfolio should have some sort of gold exposure, so I picked RIOM. It is volatile, so it is probably best not to watch it too closely. I think it is cheap at current price, but if you think gold will not move up in next twelve months, I would advisetaying away.

    I sold my 50% increase in GTAT holdings at 17.54 for a quick 3% gain. I may start doing that time to time as the stock seems to bounce up and down pretty regularly and I am not uncomfortable if I have to hold for longer period.

  3. Makes sense. Nothing bad about grabbing 3% on GTAT, very nice.

  4. Added SPXU at $56.92, will sell at $57.49, or best price later. This is strictly a momentum play.

  5. Can’t resist the gain, sold that at 17.80. Thank s Marshall for posting your buys!

    • Lynn – glad this one worked. I felt like I owed you one post LMNS. CALL is up very nicely today. I had put in a puke buy order in yesterday at 21.10. It got close (21.40), but now has popped today to $23.

    • Marshall, I can’t thank you enough for posting your buys and the logic behinds them. No need to feel bad. I am responsible for all my buys and sells if things didn’t work out.

    • Wow, gtat is so hot! 18.49 now. I don’t think I can get back in below my sell price.

      • Yes – I think a lot of people liked what the GTAT CEO said about (1) his recent sales of stock, (2) “surprise is an important element for AAPL” (3) “not selling commodities” to AAPL and (4) a lot of other products in pipeline besides AAPL project. Looks like Jeff will be called out!

  6. I will be happy to get called out on both my GTAT covered calls. One Mar 22 18 call against my 17 cost GTAT shares and a second Apr 19 17 call against my other GTAT shares purchased at 17.

    The first tranche would be a net gain of 1.30 for one week and the second would be a net gain of 1.65 for a month.

    I’m thinking of opening a new GTAT covered call tranche but think I want the dust to settle a little before I do.

    Great stock Marshall, thanks

  7. Marshall, I’m taking a closer look at NUS based on your comments. Numbers actually look pretty darn attractive. Problem is I hate direct sales programs (i.e. pyramid schemes?) like this. What’s your current feelings?

    • Jeff- I have not done my analysis yet. They are part of ten+ stocks I will think about buying in early May when my tranche of five stocks hit one year anniversary.

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