With two weeks to July expiration, it’s time to review our July positions that will be expiring soon and take any actions that are necessary to reduce risk or take profits. This is the time of the cycle when the theta cost of our long premium plays will start to accelerate against us, or the gamma risk in our short premium plays will start to ramp quickly against us. No bueno in either case. [Read more…]
[Premium] Market Breadth Update
From the desk of Tom Bruni @BruniCharting
Throughout April and May we’ve discussed market breadth improvements that have us bullish on equity prices both in the US and globally. Today I want to perform a simple exercise to see how the data we’re looking at has developed over the last two months or so of trading. [Read more…]
[Options Premium] Pre-Earnings Bite of the Apple
With earnings for Apple coming up on July 31, there’s just enough time, worthwhile juice, and a significant price level to lean against in order to potentially bite off some quick profits in $AAPL while limiting our downside risk. Since we don’t have much time, lets cut right to the chase… [Read more…]
Introducing Our New Technical Analyst: Tom Bruni!
It is an honor to introduce the latest addition to our team here at Allstarcharts, Tom Bruni.
[Options Premium] Nike Sprinting to its Next Hurdle
The running metaphors for Nike $NKE stock are too obvious, so I’ll do my best to avoid them. However, it cannot be denied that last week’s monster gap higher coming out of earnings has launched the stock around the final turn and it is now sprinting towards a big, fat, round number – $100. That big magnet coupled with a pretty common phenomenon called “post earnings drift” following positively received earnings events sets up a pretty compelling case for a profitable move setting up. [Read more…]
The Discretionary Predicament
Consumer Discretionaries have been a great indicator of market strength for a long time. This has been the best performing sector off the 2009 lows by a long shot, nearly doubling the performance of Tech, which has also been a monster. Discretionaries broke out to new highs in early 2012, well before the S&P500 and Dow Jones Industrial Average. With this sector breaking out to new all-time highs last month, it’s hard to be bearish stocks. [Read more…]
[Premium] Playbook To Profit In Q3: Part 1
This is Part 1 of the 3rd Quarter Playbook for Members of Allstarcharts.com and focuses on the U.S. Stocks Market. See Part 2 here. [Read more…]
Monthly Charts Are Out! Here’s What’s Going On
Next week I will be sending out our Q3 playbook. Email me if you’re not already a Premium Member. There are so many interesting things happening right now that I think there will be plenty of opportunities to make money next quarter, despite it supposedly being a slower time of the year.
When months close at 4PM ET, I can’t help myself but hit those monthly charts right away. I am very disciplined about never looking at them before the month is completed. You get into bad habits like that. So I look forward to the monthly candlesticks being done:
Let’s get right into it: [Read more…]
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