CHK was a great trading stock today. Proudly I can announce that are young traders killed CHK today. And CHK was particularly profitable trading the stock off of an important intraday level today at 71.35. CHK was up a ton and then started to show weakness. After the oil number was announced CHK failed at the 72 level, traded lower … Read More
Second Day (MYGN)
One of the plays that we teach our traders is called a Second Day Play. Today we had such a play with MYGN. MYGN had some bad news on one of their drugs that they were testing and the stock traded considerably lower yesterday. But into the close MYGN showed strength. It finished strong. However MYGN had trouble trading above 45.75: So … Read More
NKE second day play
Looking at NKE this morning. Yesterday it was a bit out of control on the open but the stock got easier after it broke the 60 level. I’m gonna be using that as my inflection point; above 60 will keep a long bias, below it will try to keep a short bias. Looking for a sell off to the 58 … Read More
re: my day
I focused on RIMM on the Open as it was In Play after reporting yesterday. I traded it on the short side once it dropped the 128 support level. It was fairly tame and became weaker as the day progressed. There seems to be support around 123.40. Traded NKE in the afternoon. Didn’t catch the initial short below 60 but … Read More
Run Fast Jump High (NKE)
Trading NKE this am. Below 62 will trade with a short bias if see selling. Down a ton on very light volume- bounce? The NKE specialist has a tendency to treat some orders unfairly. But when NKE is in play it is a very good trading stock. I have attached the chart of NKE below for some help. Good luck! … Read More
re: RIMM Followup
As I mentioned this morning I was looking to short RIMM on the open at resistance. I mentioned 140.50 as potential resistance. As it turned out 141 was resistance with many large offers. I shorted below 141 and covered on the pullback to 139. I didn’t catch the move down to 137.50. RIMM released earnings in the after hours. The … Read More
BA for today
Should be a light day of trading before the Fed announcment at 2:15 today. Will be looking at BA today because of the news below: Boeing: Oil surge may cost jet makers orders – WSJ (74.79 ) : WSJ reports as rising oil prices cause even the strongest airlines to struggle, Airbus and Boeing face the possibility that as many as … Read More
re: RIMM Weakness
RIMM showing weakness in the pre market. probably due to the WSJ article talking about people overestimating growth and underestimating risk in the consumer market. I have covered the majority of my overnight short position as it has failed to hold an offer below 139. Will look for resistance at 140.50 level after the market opens for a safe entry … Read More