You have the rest of today and tomorrow to buy Apple(AAPL). Apple is hovering between 222-223 and the only reason it is there because it is options expiration week. Apple is being pinned to the 220 due to high open interest at the 220 strike. When Monday comes around this stock is going higher thru the 230’s by the end of the week especially if the overall market is still bullish. Being a strong week, Mutual Fund Monday should be in full effect. Also it will be 2 weeks before the rollout of the iPad. The stock should run up right to the release. I am long Apple for full disclosure. I just want everyone to be in on the riches.
Oh yeah, I was seconds to pulling the trigger on Denny’s(DENN) yesterday. My ticket was all filled out. I was going to by 500 shares, all I had to due was hit the submit button. Until I remembered the last time I was at Denny’s. I had the Grand Slam breakfast. The pancakes were like rubber and the service was terrible. Server had attitude and all. That was years ago and also the last time I was at Denny’s. Then I hit the cancel button. I missed out on my share of 12 percent gains. Oh well, maybe next time.
Well it’s been along time since last post. I’ve found myself not being able to post because after focusing on the market I just didn’t have enough time to blog about it. But I will try to squeeze it in from now on. I will whip myself next time I miss a post. Well anyway let me get you up to date.
Last year was an incredible year as I was up about 400%. No I am not lying. I turned $4000 into $18000. The year before though, I had a loss of about $10000. That’s not too bad considering the circumstances of the September crash.
This Year I am down about 50% or so as I took a beating and I mean a beating when we had that correction late Jan. I only had two positions on. Guess which two. Google (GOOG) and Apple (AAPL). Most of the lost comes from Google with the 100 point drop. I wasn’t in it for the whole drop. I just kept selling and jumping back in thinking it was going to bounce. I got suckered in on every up move because I couldn’t believe Google would continue to tank like it did. This is a lesson I will never forget. Google before the correction made me a lot of money. After the correction, It lost me a lot of money. I will not trade this stock for a long time because I’m just not in tune with it. Now Apple on the other hand has lost me money but after the current rally, I had made it back and then some. I’m just a long term holder of Apple as I feel they have everyone gaga over their products. It’s like crack as people will spend their last dollar on an Apple product just to have it.
Well there you have it. I’m a long term holder of Apple and I am back in and out of certain stocks that poise for a breakout.
Right now I am a holder of Microsoft(MSFT) and Rino(RINO). Rino is a trade as it is breaking out right now and Microsoft might just be in my portfolio for awhile. Believe it or not, I feel this is the next Google. Google is leaving the door open for competitors to come right in. With Google leaving China and Microsoft and Apple’s relationship improving, I think it could be all over for Google as this Tag Team will be unstoppable if they continue to improve their relationship and partner on future projects. Remember, you heard it here first.
For today, I am looking at ABCW for a quick trade. This is a penny stock trading at a buck 37. But it is breaking out. I’m looking for a quick trade in and out before this puppy tanks like all the rest of them.
Stay tuned for update.
Happy Trading 
My core holdings used to be FAS. I got scared out of the trade after months of being long last month as the FAS hit lows it hasn’t hit in awhile. Also lost alot of money so I had to bail. I will be dabbling here and there by selling naked puts but the covered straddle is no longer my play.
I know its been awhile since my last postings, but I’ve been really busy around the house, with my family and things. My attention was definitly needed on the home front. I could of blogged but every time I sat down at the computer, I was just to tired to write. So forgive me.
Well anyway, AAPL and GOOG are my new core holdings as these stocks are going higher. I would also like to play AMZN but after that 25 point move, I am to scared to get in. I’m sure other people feel the same so therefore, the stock will probably never pullback and just head higher.
I am also long Celanese Corp (CE). This stock just broke out and doesn’t hit any real resistance til $35. Currently trading at $29.72. Low volatility, charts point to upper right from lower left. I’m in.
I am long call spreads on EEM, EWA, EWZ. I also own straight up calls in Ford (F).
I brought these stocks as they were headed down as I remained firm on the buy on the dips strategy. I wanted to post about the market breaking trendlines to the downside. I felt that it was a true fake out. This is what the market has been doing all year. Breaking technicals to the downside and then violently ripping to the upside. I was stocking up on the sale and a day like today is paying off big. I was long straight calls on all positions but now have covered them all by selling upside calls into the strength locking in some profits.
I do still think we will stall at the SPX 1121 as this is the 50 percent retracement level from market high to low. I only feel the market will hang out there for a little as it will continue to steamroll to the 61.8 retracement level which is 1228.
Do you know the 50% retracement level is not really a Fibonacci ratio, but it is used because of the overwhelming tendency for an asset to continue in a certain direction once it completes a 50% retracement.
Happy Trading
AAPL, CME, FAS, GOOG, RIG, EWZ, LVS are my current holdings. I just want to get that out of the way at the beginning of this post since it has been awhile since I have posted. I’ve been keeping my portfolio pretty simple until the last couple of days. But until recently I now like RIG and EWZ. I am in and out of LVS as I think this stock will be higher in the months to come, but let me tell you, it is a bumpy ride. I keep getting shaked out, only for the stock to post a higher high. So thats why I keep getting back in. I feel like I am in a battle with this stock for a win. When things get personal with a stock, I usually don’t trade it. But for some reason this one gets an exception and I don’t know why. Well moving on…
It seems we are headed higher this morning after the INTC and JPM earnings. We are definitely going to test DOW 10,000 in the coming days unless Goldman Sach’s (GS) disappoints by not meeting very high expectations. When we get there I will most likely lighten up a bit as I feel we are headed to DOW 10,280 before any major pull back. I can tell you this especially all of you that missed the boat. When it pulls back, buy, buy, buy. As I been saying all along, by years end we will be much higher. If you pull up a SPY monthly, you will notice that the trendline is still intact and the bulls are in much control.
I haven’t been bloggin lately like I want to mainly because I been sick for the last week or so. I just can’t seem to get rid of this cold. It’s just been lingering around as the worst seems to be over. But anyway, I still been trading. Just not as much. When it’s time to blog my activity, I just get tired as trading this market has been hard the last few weeks.
To me it seems where stuck. The market wants to go higher but can’t. I think two things. The market is afraid of Dow 10,000 and unemployment. If the unemployment numbers come out better than expected this Friday, then Dow 10,000 will be in the books. If it is worst, put on your seatbelts for the ride down. If it’s as expected. I think it will be a slow grind to the upside as we will have to wait on 3rd quarter numbers to push us higher.
Right now my current positions are AAPL, CME, FAS, LVS, SPY(short), WLT. I’ve been unsuccessfully swing trading in and out on AIG and recently stopped out of CIEN. My goal right now although I don’t really show it, is to keep it short and simple. And that is to just be long AAPL right now and keep my covered Straddle on FAS. These have been winning trades for me for months now. I’ll will try not to take on no more than 2 additional trades. One of which is CME. This stock is on the verge of breaking out after moving sideways for months as it struggles to make higher highs. This stock has a lot of room to the upside. Current support for this stock is 290. I got in at 294. If it breaks below this, I am out.
If anyone is interested in RSS feed and the link is not working, let me know so I can fix it. I’ve been having problems with it lately.
The reason why I say this is simple. I am having so many alerts from different sectors firing off at me. Also many stocks are breaking out of a volatility squeeze to the upside and many stocks are just breaking out. As I write this now at 1:15pm the s&p e-mini futures are in a volatility squeeze and if it breaks to the upside, the market will close much higher from here as long as it holds.
If you follow my blog you may have noticed that I haven’t been posting the last couple of days. That is because I have not been feeling that well. I think I am on the verg of getting the flew. You know where your kind of achy and just feel miserable with a slight cough.
Even though am kind of sick, I’ve still be trading. What I thought was one of my best trades turned out to be one of my worst. I own 4 call options on LVS and sold them after 3 days of huge gains. As you might know I was way early. After I sold this thing continued to rip another 10-15%. I had intentions to buy it lower again, but it doesn’t look like that is going to happen. If I get back in it would probably be higher.
I also sold all but 1 call option on Citigroup(C). I totally messed up this trade by not taking profits. I was up $535 or so after I brought a total of 14 calls when the stock was trading about $4 or so. I sold all but 1 at a lost of $30. I seriously violated rule #1, which is never let a profit turn into a lost. No of course, Citigroup will trade back up over $5 someday, but I guess it will do it without me. I wanted to hold on, but could take the pain. I hope that trade makes a difference in my future trading. Take profits.
So to sum it up. I did take profits on LVS way to soon. I didn’t take profits on C until it was way to late. Maybe one day I will get it just right.
I have to give props to http://www.shadowtrader.net. This is their free stock of the week. I also charted this stock and like it for the following reasons of my own. I am long 2 Oct 55 Calls. The following is a 2 year weekly chart.
I am kind of disappointed in my trading this week because if you read my older post, I do believe the market is headed higher. For some reason though, I am scared. So this week I have been hedging my positions and cutting myself short, because this market is ripping. I know I should be watching my loses as the gains will take care of itself, but I just cant help it. I probably left 3 to 4 percent on the table this week as I protect my gains from any downside pressure.
Today I brought Textron. I owned this position a few weeks back, but then it ripped 13% in a day and I had to sell. I opened a new position with a Sept/Oct call spread by selling the Sept 21 and buying the Oct 20.
I have been buying LVS on the dips this week and today is paying off. I own 4 Mar 19 calls that I paid $2.65 for and now they are worth $3.35.
My Citigroup options are tanking. I own a total of 13 call options. They are profitable and I do plan on holding them to expiration, but as it goes lower, I must reconsider to sell or buy more. There are so many other stocks that are primed to go higher than waiting on Citi.
I brought to 2 calls of Covance (CVD). I must post a chart on this stock because this stock has plenty of room to run. It’s currenty breaking through resistance at $58.38 and the next resistance level is $80. Be careful on this one because it trades on low volume with average around 680.000.
Be sure to read past post and videos as I have been right on, by calling this market.
