Tuesday, October 5, 2010

Futures Point to a Higher Open...

In our Sep 23 AIT evening webcast we placed a virtual trade to buy 10 CMG Oct 170 calls if the stock moved above 168.45 with an OCO bracket order to sell the options if CMG reached 178.35...the buy order was filled at 4.60 per contract on Sep 24 just after the open...this morning those calls automatically sold at 9.50 for a gain of 4.90 or 106% in just 12 days...CMG touched 178.11...

9:50 am ET - it looks like AMZN, NFLX, MICC, CRM and NTAP are filled...while NVDA is still open..

9:33 am ET - Just like that the SPX is Back to Resistance at 1,149.08 reminds me of a great movie Trilogy...Back to the....

BMO - ES +9.25 and NQ +19.00 futures are higher in pre-market trading and point to a higher open...

TLT is down 18 cents and the EURO is up 132 pips reversing Monday's pull back...

Many more stocks are up than down in pre-market trading and looks like and least three of the six virtual trades that we entered last night will get filled near the open...check last night's post on NVDA, NTAP, MICC, AMZN, NFLX, CRM

I got the feeling last night that some of our followers wanted to get bearish even though the trend is up and had not yet broken support...one of my associates told me of someone who was illustrating going bearish on BIDU...

and people wonder why I spend so much time on trend...The Trend is Your Friend Until a New One Begins

Everyone has heard don't short a dull market...

Dave's Insight:  Don't Short a Bull Flag...

Trading Down - ICE, ACN, FAZ

Trading Up - MA, NFLX, ESI, PCLN, CRM, FCX, ATI, CMG, FFIV, WLT, HANS, CLF, V, GS, VMW, NETL,DE, FDX, BUCY, AGU, X, DECK, DHR, BA, URE, LVS, FAS, RVBD, USD, SWN, WMT, MHS, NTRI, BYI, AKS, UCO, UAL, GOOG, AAPL, PCLN, BIDU, APOL, AMZN, FSLR, SIAL, RYAAY, SRCL, WYNN, HSIC, JOYG

2 comments:

Unknown said...

Thanks Dave for reinforcing trend! A beautiful bull flag on BIDU!

All the best!!
Mishel

CR said...

Thanks Dave Progress is definately being made.