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Showing posts from January, 2005

JDSU knife catching

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Downside volume picking up suggesting a capitualtion is near. Still a catch the knife play Jan Calls $0.40

SIRI 50-day resistance

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Approaching the 50-day moving average on light volume. Looking for a one-day sharp sell off to retest the prior low. $0.15 Mar $5 puts

AGP and AEOS cover

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Both moving above resistance. Both resuming uptrends. Both dumped for a loss DJF

CSTR short

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Bounce looks tired at resistance. Break above 20-day moving average will be reason to cover. Puts $3.00 http://stockcharts.com/gallery?CSTR

AEOS going down?

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Small three day rally looks to be tiring. Featured as a gold member short play on Jan 24th. Aiming for price target as described in my gold member commentary In: $5.50 http://stockcharts.com/gallery?AEOS

FFIV izzled

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Dumped this after today failed to build on yesterday's gains. Starting to look like a bull trap. Bigger loss than I would have liked on this. The stock featured as a breakout play on Jan 21st. In $10.80 Out: $9.00 http://stockcharts.com/gallery?FFIV

PACW out

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Sold for an average price of $1.55. Bearish cloud cover after a break of $1.60 failed to hold. Watch for further downside. http://stockcharts.com/gallery?PACW DJF

KGC in

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The mining issues may be leading the base metals in forming a bottom. I like the basing action so have taken advantage to buy some calls. Featured on my Stockchart.com public list . The list is free, but please vote at the bottom of the screen when you visit. $0.70 Aug $7.50 calls http://stockcharts.com/gallery?KGC DJF

CSTR out

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Sold the puts at $3.40 - watching to see how far this will bounce before looking to re-enter. DD as always, DJF

DDS out

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Federated news hit this one hard. Big void down to $19.00. I will wait for rally back to $28 to enter a potential short position.

CSTR breakdown

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The 2-month consolidation looks to have ended. Bought $3.10 puts for a move to the 200-day moving average. Is a current breakout from Oct 29th and Sep 21st .

CIEN eero

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A poor return given the nice entry price. $0.50 drop in price only brought a $0.05 gain in the put. Having said that, it should be possible to get out at $0.55. Favoring support is the 50-day moving average, a market which is oversold in the short term, and light downside volume - although the latter can mean a lack of fear which generally brings more downside. DJF

TUTS aloo

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Exited TUTS on break of support at an average price of $4.41 - net breakeven. Bgt $4.41 Sold $4.41 Look to re-enter at support.

CRY all day long

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Featured as a gold member play on Jan 13th. Still trading within a narrow range. Trade break of box. Bgt calls $2.40

SUNW insurance

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Bought some insurance for my Jan 06 calls with some Jan $4 puts at $0.05 per contract.

TASR over and out

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Took advantage of the rebound to sell. It may still be possible to get out at around $6.00 tomorrow but I didn't want to get greedy on this In: $3.00 Out: $4.80

TASR to go

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Aggressive (small) trade here. Bought Jun $15 calls at $3.00. Take a look at the average 6-week ATR range of $5. It wouldn't take much of a bounce to send these up a tidy sum (but it wouldn't take much to send them the other way either!).

SIRI out

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Sold the puts for a modest gain (In $2.20 Out $2.45). Puts look overvalued and although today's price action looks bearish, intraday - the retest of yesterday's lows is coming on much lighter volume = a sign of seller exhaustion.

DDS dee

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Stock has maintained its earlier gains, with price narrowing around $26.00. 50-day moving average is fast approaching. Looks ready for the next leg of its rally. Featured as a breakout on Nov 8th

AGPaar

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Third day of buying pushed this over resistance on decent volume. Forced out of this at a bad price - but didn't expect anything better considering the breakout. DJF

TUTS sweet

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Entered a long position here at $4.41. Looks ready to break resistance for a move to $7-8. Featured as a gold member play .

Some open call positions

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AZN - Earnings due on Jan 27th. Keep a tight rein on this one, a loss of the green hashed line will see me out of this. Featured as a gold member play . Bgt Jan 5th Jan 06 calls $7.50 ERES - Got caught with a GTC buy order which I had forgotten to cancel in favor of a lowered price one I had set. Still like this in the long term. Big support around the $13.65 level. Capitulation looks complete after tumbling from $29 highs. Featured on my public stockchart list . If you check this out don't forget to vote for the list!. Bgt Jan 3rd Jan 06 calls $6.70 PAAS - The only silver play with Jan 06 calls. Liked the bullish divergence in the technicals. Decided to take a bite. Featured on my public stockchart list . Bgt Jan 5th Jan 06 calls $2.10.

Some open put positions

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SIRI - jumped on the bandwagon once I saw all those exhaustion gaps. I was tempted to buy more on the last big gap up, but puts were still pricey when the stock was knocking around $9 at $1.85. Currently features on my public stockchart list Bgt Dec 3rd Jan 06 puts $2.20 CIEN - got the perfect entry point, but probably should have bought Jun 05 instead of Jan 06 puts. There was only a 5c change in the bid/ask of the Jan 06 puts when the stock dropped 7% on the day. Currently features on my public stockchart list and is still considered a breakout , although the bearish flag breakdown put a dent in this move. Bgt Jan 3rd Jan 06 puts $0.45 AGP - The series of candlesticks with long upper shadows was to tempting to overlook after a big rally with little or no pullback. The put position remains vulnerable to a big one-day move on a news event. Stock splits on Jan 19th. Featured as a gold member short play Bgt Jan 5th Jun 05 puts $6.20.

GEGo

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I really liked the heavy volume buying spike and the close above resistance when I initially bought the stock, but things got a little sketchy when every Tom, Dick, and Harry decided to take profits. There may be opportunities to get back in at a lower price. Look to the 20-day moving average for support. Featured as a gold member play. Dec 7th: Bgt $9.06 Jan 4th: Sld $9.65

EGYciting

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Keeping this one on the watch list. Played a tight buy and stop from the daily chart, although the weekly chart remains very favorable. Buys at $3.60 with a tight stop could be worth a shot although I think I will wait for a test of the 20-day moving average before delving in again. Featured as a breakout in September, and a gold member play following its pullback to support in December. Dec 31st: In at $3.71 Jan 4th: Out at $3.68

OVTIcular

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Mixed bag here. May have jumped the gun on selling my puts. I got a little worried on some afternoon buying so chickened out - concerned the small rally would turn into a bullish non-confirmation of the bearish flag breakdown. If the flag plays to form it should go down to $15.00. However, any short covering could trigger a push into the mid-$18s which would bring the buyers back. Features on my public stockchart list . Please vote for the list if you check the stock out. Comfort for the bears - the sequence of indecisive dojis beneath the eventual cross of the 20-day and 50-day moving averages suggests downside will resume very soon. Jan 3rd: Bgt Jan 06 puts $4.90 Jan 7th: Sld Jan 06 puts $5.10

NASDAQ support 2,054???

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Looking for a bounce somewhere around 2,054 (wrt to weekly chart). Maybe Monday will scare out longs who bought today thinking it was a bottom. It will be interesting to see how it plays out on my SUNW calls.

LUwer again

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Quick trade from resistance to support after covering an initial call play (albeit too hastily given the entry at support). May give up more on Monday, but I am not willing to bet the house on it. Features on my public stockchart list . Call Jan 06 bgt Dec 14th $1.50 Call Jan 06 sld Jan 4th $1.45 Put Jan 06 bgt Jan 4th $1.40 Put Jan 06 sld Jan 7th $1.60 Will keep this on my watch list.

SUNWier days

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Took advantage of a bullish harami cross to buy some Jan 06 calls @ $0.70. Looking for a move back to prior congestion (c$1.00). Features on my public stockchart list . Note weekly support line.

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