$FB rally through Opex

$FB

I did a post early in the pre-market about $LNG but I wanted to touch on some points and thoughts on $FB going forward past today's monthly options expiration.

For the last few weeks, it has been working on a nice declining wedge coming out of a nice run up since the gap in July. I am watching for a pop above the top line of the wedge which happens to also coincide with the 50d sma and the 18d sma, which I like to reference for short term plays.  I think a convergence of all these points can really give some support for a nice bounce.  As long as volume follows through above average, there is a lot of room to run.  If we get a Friday rally today, I am targeting 51.50. The only obstacle is the options expiration and with 80,000 options contracts at the 50 strike, that will be hard to not pin.

Happy Trading.

$LNG breakout

Hey everyone.

Been watching the action this week without a lot of positions. Yesterday was spent waiting to see where $LNG goes.  I have been in this name since the mid 20's and riding it the whole way. This is a very long position for me since it is my main energy play.

I watch yesterday for a break about the long consolidation channel it had been basing the last few weeks.  We closed above the resistance of 40.85 yesterday and it looks like in the PM we are getting that pop. I got in for more right at the close about the resistance. Going to watch to see if it can hold this pop. Lot's of breakouts have been turned away but the key is to hold about that breakout resistance with volume coming in.

Happy Trading!

$T and $SBUX

Yesterdays post involving $LNKD is not panning out quite yet. The momentum seems to be up right now but I still am watching for a retest of the 213 dip. I decided to let this trade simmer on the back burner and focus on two other names; $T and $SBUX

$T
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Since earnings, the name has had a good run up. Broke above the 36 area and even started to consolidate. It was a little too choppy for me to be a setup for higher prices but I watched for a break back below 36 for a short attempt. I got in today in a few 36.5 strike puts for .58c.  We got the break below 36 as I am writing this, with a little bounce. But so far I am up 20%. If 36 doesn't get reclaimed by 3pm, I think we see people dump into the close.  That earnings gap is just calling its name and I will use that as a target.

$SBUX
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This is a fun one because it just doesn't seem to go down. And as it claims new all time highs today, I took on a few calls to take advantage of last minute hop-ons if it breaks into those highs.  And as I write, the runners are running. I am holding 83 strike call weeklies bought at .13c.  At .26c right now, I am up 100%

I'll be watching both positions into the close.  As well as $LNKD, which I think will give back most of today and head lower the rest of the week.

Happy Trading

Why $LNKD will fall more

$LNKD

Been an interesting day for $LNKD today. After opening lower and then bouncing to daily highs, it showed as if it were going to give it all back on a reversal. But alas, the roller coaster continued and it tested the HOD once more.  As I write this, it is slightly retreating again. But don't let this suck you into buying. The chart today looks good for a bounce today, but that is all I think it is.  If you pull your charts out further, you will see that it is trading below the longer tern lower trend like. Plus, it broke the 100d sma and is now hitting up against it as a resistance. She can't get back into the up trend and should take some lower numbers out first.

Target is roughly $203

Hard to see because the lower trend line almost follows the 100d sma. The two are working together right now as a resistance.

You can see a bit better here that it is below the trend line. Also forming a little bear flag an if it breaks this, it should be quick down to $215 area.

Happy Trading

Flash Crash..or whatever you want to call it.

Been a very interesting day so far.  Came into this week trading two names.  Calls in $AAPL and puts in $FB. I had weeklies in both and my plan was holding up pretty well. With that said, whatever that big sell off was, happened.  I was stopped out of my $AAPL trade and I took profit on $FB when it filled the gap. But something about this sell-off didn't sit right. With an $AAPL event today, these levels seemed too low. Like a gift on Christmas Eve. "Buy me now because after the event, I'll be back where I should be," it said to me. So I grabbed up some weekly 530 calls and sitting tight.

I kinda got the same feeling on $FB as well. It came down and filled the gap a lot faster then it should have. And it bounced just like a stock does when it drops too fast. I managed to get some cheap 54 calls on this name as well.  I was only playing $FB short this week because I thought it needed to digest that big up move. Since it did that rather rapidly, I was back in long, testing an earnings run into next week.

How I am playing this:  Both names have dropped out of the trading range on the 60 minute chart.  I am going to play these long back into the range.  I think $AAPL can even break out above if the event goes well.  If not, I cover back down to the gap fill...or... if they make it back into range, I stop out on another break below it.

Good luck out there. Panic never made anyone money.

$AAPL and the debt ceiling

Just wanted to put up a quick post this morning as I am watching $AAPL after a great close on Friday. Pre-Market is down about 1% after a weekend of people relaxing and over thinking things. Yes, it's another day of a government shutdown. Yes, there is still no debt ceiling resolution. But we all know these politicians love to hold out until the last possible moment.

That is why I was looking for a quick rally and gap fill right out of the gate from $AAPL. And got it. The Pre-Market drop didn't seem warranted given the lack of change or information over the weekend. And with this strong open, I am going to be looking for a break about $495, which is the top of my wedge. After that, any positive news out of the debt ceiling talks will drive $AAPL over $500, as well as rally most of the market.

Happy Trading.

Never Forget

The title of this post has been a slogan for the tragedy of 9/11 since the the day the attack on the World Trade center occurred. And they are words to live by beyond the remembrance of the thousand of people who never made it home that day. As I take my own moments of silence, not only to remember those people and heroes, but as a reflection on where I have come since then.  I was not in NYC at the time but in Boston. I felt like I was right there with the rest of the country. Looking back, I have had a good life since that day. Graduated college, lived in 4 different states, a nice career, married, had kids and begun my journey in this thing we call the stock market. And everyday, through the frustrations, the hard lessons learned and the victories... I remember what makes all this possible. Those people that put the lives of others ahead of themselves, from the first responders and the soldiers that went to war. To the people that were trapped and helped others ahead of themselves.  I definitely remember and I will never forget.

It is a tough day to be trading out there but in the sake of moving forward, here are some of my thoughts, plans and positions today.

FB

One of the names that loves to be hated. I am watching this travel up the raising channel.  Playing the bounce off that lower trend line. Hit it perfectly yesterday and now coming right off it. I am not worried about the "over bough" indicator it has been at since earnings. Clearly this is an example of a stock that over bough and will stay over bough as long as it wants to.  I initiated call options at the 43.50 strike. Looking for a retest of the highs this week for my target. Without volume on a break out, I will cover.
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BBRY

This one is a tough nut to crack since it is so volatile and hinges on the random tweet or speculative headline. But I like the wedge it is trading in and will watch it off the bottom trend line.  It has moved up and then back down a lot in a little amount of time. Strictly playing this on the whipsaw movement it is know for.
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AAPL

Dropping like a rock. Only be a matter of time until Icahn gets on the horn but until then, this is dropping like a rock. Not chasing right now but it is holding at th/e 200d and 50d sma intersection. If it breaks that, I am looking for the target to be at the pivot point from 8/9/13. Although I love the name, until it shows signs of innovation, it is screwed.

Happy trading