Traders Corner   13 comments

Pre-market movers

UP: AMZN, GOOGL, MSFT, SDRL, TSLA, VZ
DOWN: SLW

The S&P 500 levels to watch today:

UPSIDE: 1901-1902 (2 data points and the all-time high).
LAST CLOSE: 1900 (top of the Bollinger Bands).
DOWNSIDE: 1896-1897 (4 data points and April’s high), 1893 (May 23rd’s low), 1891 (May 2nd’s high), 1883-1889 (9 data points and March’s high), 1882 (20 day moving average), 1880 (May 12th’s low), 1878 (5 data points), 1872-1873 (2 data points), 1870 (May 8th’s low), 1869 (50 day moving average), 1865-1868 (4 data points and February’s high), 1864 (bottom of the Bollinger Bands), 1862 (May 15th’s low), 1859 (May 7th’s low), and 1849 (100 day moving average).

S&P 500 Daily Momentum: Bullish
S&P 500 Daily Overbought/oversold: Neutral (leaning overbought)
S&P 500 Weekly Momentum: Mixed
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures (June): Positive
Overall: Everything is pointing to a bullish day. But the little contrarian in me (ok, he ain’t little. He’s an 800 pound gorilla!) says this won’t last, and we might even see a reversal after the open.

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13 responses to “Traders Corner

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  1. I hope all you traders kept some of your GTAT for today. Stock is trading up about 4% in PM trading.

    • I have a full + position in GTAT. 2/3rds are covered with 16 call. 16 and 11% gain built in. The other third of the position is uncovered and my basis is 17.23. If I get a chance to sell 18 calls on the remaining shares, I will. !

      Go GTAT

    • Still holding. Haven’t sold calls yet. Called out on FEYE from last week for plus 1.93 6.9%. Bought again this morning 33.47.

    • I have a full position that I used April and May covered calls to reduce my basis to 15.52 on. Currently waiting before selling another set of calls.
      Now if only CALL would go up 50% and get back above 20 so I could unload it. Definitely my worst investment choice this year.

      Robb

  2. Interesting, my Lynas is up over 30% again today. 10 more days of this and I’ll be at breakeven! lol

    • The miners are finally doing a little better. TC and TC-PT are both up 3-4% today. Shockingly, My TC-PT is in the black!!

    • Jeff – I took my lumps on Lynas (bought at 1.06 and sold at 0.29). It is hard to believe Jubak included them in his 50 stocks for the next ten years.

  3. Sold Friday 34.00 calls on FEYE for 1.00. If called profit 1.53 4.7%. If not, 3.0% on the purchase price of 33.47. The weekly options are very volatile. May end up trading the options around this position.

    • Ouch PVCT finally opened…down 68% to .68 cents

    • Like you all very glad I sold during the first crash. I’d bought it under a dollar and sold for an average of around $4. Been following it ever since to see what happens. Good lesson all around.

  4. In looking at the GTAT charts I see some resistance in the 17.00 – 17.50 level. Both daily and weekly charts. Technical indicators have moved up nicely. If it gets to that level, those indicators are definitely going to be flashing overbought. I would expect a pullback there. That doesn’t mean a big drop. Just might have trouble moving higher for a while.

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