Friday, April 17, 2009

Futures Point to Flat Opening...

SHLD Options Gain 357% In our Wednesday AT Webcast on April 8 we placed a real time virtual trade to buy 12 May 55 call options that were filled at 1.75. This entry was based on the Chart Signal of a Bullish Harami in a Bull Flag in an Up Trend. This morning as the stock approached the short term breakout target of 62, we placed a order to sell 6 of the calls if the stock reached 61.90. The order was filled at 11:55 am MT at $8 per contract. That was a gain of $6.75 profit per contract or 357% in just 9 days. The other 6 contracts are still open. The second chart target we identified on April 8 was 65. Are you paying attention to Chart Signals?
(click image to enlarge)
12:26 pm ET - The SPX has continued to trade in a narrow trading range between 861 - 868 all morning. Check Friday's trading range compared to Thursday in this chart... (click image to enlarge) 10:42 am ET - The first hour of trading has been confined to a pretty narrow trading range of 7 points on the SPX. So far today is an inside day...another pause day? (click image to enlarge) CLX Options Gain 44% in 3 Days In our Virtual Coaching Options session on Tuesday we placed a real time virtual trade OCO bracket order on CLX in which we purchased 8 May 55 calls for 1.25. The stock at the time was 52.80. We placed a bracket order to sell if the stock rose to 55.50 based on the the short term chart price target. We placed a brack stop if the stock dropped to 51.91. Just now at 9:31 am ET the limit bracket order filled the sell order on the 8 calls at 1.80 as CLX hit 55.50 for a return of 44% in 3 days... Check out the chart as we mapped out the trade...the numbers you see we placed on the chart live Tuesday morning in planning out the target and stop on this trade... (click image to enlarge) BMO - ES +2 and NQ - 5 are flat to down in pre-market trading pointing to a flat opening on Options Expiration Friday. We'll be posting this morning, so stay tuned... At the Open on Friday SPY – white spinning top DECK – bullish harami in bull flag SNDA – large white candle breakout CTSH – confirmed hammer in bull flag EBAY – spinning top in bull flag SCHN – white spinning top near 200 DMA GME – large black candle break 200 DMA SHLD – large white candle at 200 DMA GS – spinning top after pullback to 200 DMAXRT – confirmed hammer in bull flag XRT – confirmed hammer in bull flag USD – confirmed dragonfly doji at 20 DMA support bounce URE – white spinning top after bullish engulfing support bounce off 50 DMA UYG – doji WYNN – white spinning top at horizontal resistance CELG – black spinning top LEAP – tombstone like doji at 30 DMA

1 comment:

Anonymous said...

I AM paying attention! I just wish I had more time away from my regular job to act on what I'm seeing. Too many good things to take advantage of - I've got to prioritize. Priority one - get back with Dave's program, and do more than just read the blog once a day! Can't say that I'm with you on the types of example trades you're pointing out here yet - but my GE and DRYS are looking very good today! Thanks Dave,
Leslie Millsaps
Greensboro NC