Traders Corner   22 comments

Pre-market movers

UP: AAPL, AMZN, BIDU, FB, GOOGL, GWPH, MSFT, NFLX, RAI, SDRL, TSLA
DOWN: VZ

S&P 500 Daily Momentum: Bearish
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): Positive
Overall: We are looking for a pop at the open, but don’t let that fool you. The momentum is shifting to the bears.

The S&P 500 levels to watch today:

UPSIDE: 1883 (May 6th’s high and March’s high), 1885 (May 5th’s high), 1888-1889 (2 data points), 1891 (May 2nd’s high), 1897 (April’s high and the all-time high), and 1904 (top of the Bollinger Bands).
LAST CLOSE: 1878 (4 data points).
DOWNSIDE: 1870 (May 8th’s low), 1868 (20 day moving average), 1866-1867 (3 data points and February’s high), 1865 (50 day moving average), 1859 (May 7th’s low), 1849-1850 (January’s high and December’s high), 1842 (100 day moving average), 1834 (March’s low), and 1832 (bottom of the Bollinger Bands).

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22 responses to “Traders Corner

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  1. sold the GTAT I bought Friday for 13.20 lost my fees. Still waiting t sell some calls on my remaining shares.

  2. I actually added to GTAT at 13 this morning. I sold my dtv I bought Friday for 1/2% gain.

    • Marshall, I think adding GTAT at 13 is smart. I just have plenty as is and never really intended to hold my Friday shares for any extended period of time. Good luck

  3. Charts continue to look bad for GTAT. At some point I will probably average down and start selling calls. Would like to see some strength first. I know I’ll pay more. Trying to catch the falling knife does not work very well for me.

  4. Just sold my AVG I bought last week at 19.64 for a 4% gain.

  5. To be clear – i like AVG a lot long term, even at current price. The shares I had bought last week were for a swing trade, but i own for a year in two of my MFI tranches. They are trading at only 9x forward expected earnings. Seems pretty cheap to me.

    • Marshall, seems like you are doing more trading. Is this a change to your model?

      • I probably am trading a bit more. My model though is the same, kind of 25% in dividend stocks that are not meant to be traded regularly, 25% in MFI stocks, traded just once a year, 25% in discretionary – these are fair game to trade at will and 25% in cash. I am probably holding the discretionary stocks for shorter stretches (though some like GTAT and GNW have been held long term).

    • or just nothing to do while you recover?

      • Jeff – LOL, maybe some truth to that. I did just get back from Dr. She removed all bandaging an everything is healing very nicely. I think I am done with pain killers, except one at night to help sleep. Time to start planning getting back to work!

  6. The S&P has reached its recent highs again. Trap or breakout? If we breakout we could see a nice move up. Even at the highs, we are a long ways from being overbought.

  7. Anyone still own TC? Reports Tuesday and got an analyst upgrade today. Wondering thoughts on it going forward.

  8. Price action in GTAT looks much better today. It’s oversold and should be ready for a bounce. I added at 13.40. Looking for a swing trade on this position.

  9. Trader – I will certainly give you a “way to go”. Btw, I sold dtv one day early!

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