Traders Corner   17 comments

Pre-market movers

UP: GOOGL
DOWN: AMZN, FB, TSLA

S&P 500 Daily Momentum: Bullish
S&P 500 Daily Overbought/oversold: Neutral (leaning overbought)
S&P 500 Weekly Momentum: Mixed (PPO is bullish, but MACD is still bearish, but weakening)
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures (June): Slightly negative
Overall: The S&P 500 technicals look almost identical to yesterday, except for the Bollinger Bands, which have continued to contract (this usually means it is setting up for a big move). Now, the S&P 500 is sitting right near the top. More likely, I would expect it to drop here, possibly to the 20 day moving average at 1875 (whether it falls that far in one day or several days is up in the air).

The S&P 500 levels to watch today:

UPSIDE: 1899 (top of the Bollinger Bands), and 1902 (May 13th’s high and the all-time high).
LAST CLOSE: 1897, inside the 1896-1897 (2 data points and April’s high) range.
DOWNSIDE: 1891 (May 2nd’s high), 1888-1889 (2 data points), 1885 (May 5th’s high), 1883 (May 6th’s high and March’s high), 1880 (May 12th’s low), 1878 (4 data points), 1875 (20 day moving average), 1870 (May 8th’s low), 1865-1867 (3 data points and February’s high and the 50 day moving average), 1859 (May 7th’s low), and 1851 (bottom of the Bollinger Bands).

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17 responses to “Traders Corner

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  1. GTAT at 13.99 for a trade

    • Trader, what’s your sales price?

      • I would be happy with 14.40-14.50. Would probably hold for more if 5 min technicals still looked good at that level.

    • Sold May16th 15.0Call for .15 this morning on part of my position. Looks to be a good probability it will expire worthless on Friday. I’ll sell on the rest if I can get .20 or more. Still looking for an opportunity to sell longer dated calls at a better price.

      • nice sell on the 15 calls. they are down to .05 now. Volatility looks down and I agree they should expire. I also am looking for a little better price on longer dated GTAT calls. Currently only 2/3rds of my position is covered.

  2. Ed – did you see your old friend, PVCT is going to be uplisted to the NYSE?

  3. TC-PT up another 6% today. I doubled my position on Monday. Also should receive a .40+ cent dividend today on my old shares. This is looking good if the economics continue to support the metals co.s

    • I think after people went back and read the CC they realized the CEO was being very conservative in his outlook. They forecasted for this year moly prices $10-11 in 2013 and currently are $13-14 every $1 in price equals $7 million profit each quarter…nice trend for TC if price stays up

  4. bought CA today for a long term hold. Earnings release tomorrow.

  5. On FSC dividends you do receive a 5% discount on reinvested shares but only through their DRIP program.

  6. Any thoughts on GLPI with a 5.9% divy? Spun off from PENN at end of last year.

    • Bobb,
      A truckoad of debt and no cash flow tell me to stay away. On the other hand, they have been growing revenue nicely (+271% quarterly yoy). Can they dig their way out of the debt hole they’ve dug? I’d rather see them paying off debt than paying out dividends.

  7. Nice run by TC over last 5 days…almost 20%

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