Traders Corner   26 comments

Pre-market movers

UP: SDRL
DOWN: AAPL, AMZN, FB, TSLA, VZ

S&P 500 Daily Momentum: Bullish (weakening)
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bearish (weakening)
S&P 500 Weekly Overbought/oversold: Neutral
S&P 500 Futures (June): Flat
Overall: Another day, another Janet Yellen sighting, which means the pre-markets are looking flat. Of the pre-market movers above, note the two largest movers are SeaDrill (SDRL), +4.17%, and Tesla Motors (TSLA), -7.12%.

The S&P 500 levels to watch today:

UPSIDE: 1883 (May 6th’s high and March’s high), 1885 (May 5th’s high), 1888 (May 1st’s high), 1891 (May 2nd’s high), 1897 (April’s high and the all-time high), and 1904 (top of the Bollinger Bands).
LAST CLOSE: 1878 (3 data points).
DOWNSIDE: 1866-1867 (2 data points and February’s high), 1865 (20 day moving average), 1864 (50 day moving average), 1859 (May 7th’s low), 1849-1850 (January’s high and December’s high), 1840 (100 day moving average), 1834 (March’s low), and 1827 (bottom of the Bollinger Bands).

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26 responses to “Traders Corner

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  1. More TZA at 18.09. Average with yesterdays buy at the close 18.04

  2. Bought 1/2 position of AVG yesterday at $18.60 and sold this morning at $19.53. Thanks Marshall.

  3. SCTY up over 14 % this am. Recovered yesterday’s losses and then some. Good timing on the calls for me since I sold new june 21 calls at 60 for 2.60 this am. I had closed these calls yesterday at about .24 cents. Very nice premium.

    Crossing fingers and toes seems to work? AVG and SNDK are up nicely today as well. Thanks for these picks Marshall. I’m thinking of closely my cc.s on GTAT this am and thinking of re-selling when the stock has another pop.

    • Jeff, I’m trying to do the same on GTAT. Have an order in to buy back my June 17’s for 55. I sold them for 1.30

    • Looks like I was a little early selling the SCTY calls since they are now over 3. I do have to learn to be a little more patient. I did manage to close about 1/3 of my may17 GTAT 18 calls for .05. Still trying to close my remaining may 17 GTAT calls for .05 as well.

      Trader, I think you have taught me well Obi Wan. Thanks

      • Jeff, you can’t control what the price on an option does. If you’re happy with the return potential when you sell the option, you have to let it go. Sometimes when you’re being patient and you wait for the higher call price, the stock drops and you are left selling the calls for less. It’s no different than trying to pick the top or bottom on a stock. As you trade a particular set of calls for a while, you will start to get a more intuitive sense of how high they will go and how low. The low side is easier to get the feel for. The high side can always be upset by an unexpected bump in the stock price.

      • seattle, of course you are right and I’m aok with the result. Thing is it was headed up pretty fast when I resold the calls and just based on reading the chart it would have been worth the risk to wait for 10 or 15 minutes

  4. Ed, I wish I had taken more than a Nibble on SDRL when You bought. I had visions of following it all the way down to 20’s. ha ha . The times I Buy Big are the times the Stock falls Big. Oh well, at least I got a bite.

    • Steve,
      I only bought a standard position (a little over 10% of my 401k). Just remember, we haven’t sold it yet. I fully expect it could drop to where I bought it (possibly lower) before the summer is over. But it’s hard to ignore their lovely dividend. 😉

  5. Anyone willing to nibble at Feye?

  6. closed my GTAT 17 calls for .05.

    GTAT is dropping like a rock and I have no idea why? I’m thinking of buying some more. What say you trader?

    Should we call the hospital and let Marshall know or would that be mean?

  7. increased my GTAT by 33% at 14.18

  8. put a sell in at 15 for my new shares. About a 5% gain

  9. w_seattle you posted you bought sco and covered call may 27.50 if I remember right. Is your hope not to get called out?

    I have the bottle of scotch that was my father’s, never been opened. Johnnie Walker Red Label scotch whiskies. It could be up to 30 years old. Would it be any good? If I did open it would it last.

    I’m more of a beer guy but have started to enjoy wine.

  10. Back online post my surgery. All went well, but took longer than expected. Glad tom made a nice profit and avg. It looks like it must have melted down during the day, so I did not get to see my 18.29 purchase from Wednesday. I have no issues holding my position.

    Still waiting on FGL earnings. They are going to look bad quarter over quarter due to their weird usage of weighted average shares. I am glad I pared my position last week.

    I am also happy I pared 30% of my GTAT last week at 16.72. I will try and read their earnings transcript, but my gut feel is that 14.28 is a great bargain. However, I need to read through the q&a to see if any issues were raised.

  11. I was gone most of the day. Had two orders fill. Sold TZA from yesterday and this morning for plus 48 2.7%. Bought to close my June 17 GTAT calls for 55.

    Jeff, not interested in buying more at this time. As stated previously, I’m staying away from individual stocks for now. TZA trade is working fine.

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