Archive for November, 2012


AAPL – Out

All out of AAPL @ $574.85, when it broke through the previous day’s low I decided to bail.

Will watch for re-entry but will need a good setup.

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FMCN , GMCR – Rolling the Dice

No great technical setups….Bought the following calls:

FMCN Dec 26 @ 0.45  It’s been beaten down so bad how much worse can it get??? 🙂

GMCR Dec 33 @ 1.43  It still has a huge gap to fill so earnings is a good catalyst to do it, that’s the theory at least.

UPDATE (Nov. 28):

GMCR got a nice pop this morning, sold out at $3.10 for $1.67 profit, a nice little gambling bonus. Unfortunately I sold close to the open so I didn’t realize another 60 – 80 cents of profit had I wait after the first 30 mins. With the market tanking I didn’t want to take the risk and sold out.

FMCN did not gap up but is moving up nicely in the first half of the day. Since the option has some time left I’ll see how it does over the next week. I probably should just sell out at break even but since the option was so cheap I’ll let it ride.

EA on watch

Looks like it’s finally breaking out of it’s 4 month consolidation. I missed the initial break and have been watching it since. Want a pause or pull back before getting in.

Target is around the $16.70 – $17 area.

One good thing about these strong runners is that they are great for intra-day pull back trades on the 15minute and hourly charts.

Early Christmas

All out of YHOO, last lot @ $18.80

I was looking for a steady climb into the $20 range but it kept on going and finally today Goldman Sachs decided to put it onto their “Conviction Buy” list which resulted in a nice gap up. I took that as a sign to exit and wait for the stock to calm down. I’ll be tracking this one to re-enter, possibly in a week or two.

AAPL continues to be strong so I’m raising the target on my remaining shares to $620. New stop has been raised to $573.70.  The setup yesterday was actually a nice one to add shares, oh well.  Awesome stock, awesome products.   Definitely my stock of the year.

Courtesy of Apple subsidizing some speculative earnings plays, I’m looking at FMCN for today’s announcement after the bell.

AAPL – Scale out

Out half my position at $544.13. I don’t like the huge gap up at the open.

Will scale in if it pulls back.

 

Update: stock is just crazy, so I sold out another 25% @ $567.13.  Moving stop to $536.13 on remaining shares.  Target (daily 20ma) is now at $575.

AAPL – Long

Apple kept on falling  in dramatic fashion right to my buy point around the $508 area as stated in my previous Nov. 8th post : https://xtradespace.wordpress.com/2012/11/08/aapl/

It was a gift of a trade since I could double dip by buying both a large day trade position and a smaller longer term position at the same time.

Bought in the low $509 area and sold my day trade position in 2 lots. One lot in the mid $519 area and the 2nd in the mid $527 area.

For the remaining longer term shares, my stop is below the low of $505.75.  The best part is the day trade paid for any losses in this trade so it’s like a free ride at this point.

Target is the 20ma (fuchsia line) which is sitting around the $570 area.

It’s a very bullish hammer candle pattern (price drops dramatically and then recovers to end the day positive) that hopefully will be confirmed to the upside next week.

DOW – Index

My custom indicator shows a support level at 12220 area (yellow line). The DOW is currently at 12475 so that’s another 250 pts. We should get a nice tradeable bounce at that area.  The way things are going, maybe tomorrow (Friday) or Monday?

YHOO update

Exited 25% of my holdings at $18.10,  leaving me at only 25% of my original position.  Hopefully it will rest and consolidate so I can build up my position again for the 2nd leg of the move to the $20.49 area.

 

The Yen has collapsed (against the US dollar) and busted through my 1st target at $80.50 area which now becomes support. The move was pretty powerful so we can expect more if it holds. All we need is some consolidation above that level for the big move to the 2nd target area at the $86.50 level.  If we get a nice consolidation for a few days then Christmas may come early this year.

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Earnings – ANF

ANF looks ripe to make a move but the options are very expensive. They announce earnings before market open on Nov 14th.

Let’s try a simulated Strangle for fun: Nov Call 31.5 @ $1.69 / Put 31 @ $1.74

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ANF seems like a great stock to sell options against, will look into it.

UPDATE 10:29am : What the heck, did ANF cure cancer or something??? They gapped up over 25%!  the Nov 31 calls are at $8.55.  I guess I should have played this one.