The next new trade in our Paid-to-Play portfolio is: [Read more…]
[Options P2P] New Trade in XBI
The first trade in our Paid-to-Play portfolio is: [Read more…]
[Options Premium] Tactical Bounce Play
In the All Star Charts recent Monthly Charts Strategy Session, JC highlighted a bunch of stocks that have held levels that feel significant.
And since we’ve seen a lot of damage to bullish charts in recent weeks, the best bets on the board right now appear in stocks that have held up better than the rest.
One mining stock that held up well after hot money ran for the exits is Newmont Corporation $NEM. [Read more…]
[Options] Going Back to the Well
It’s no secret the oil and energy sectors have been outperforming in 2022.
Of course, when a trend like that is no secret, it tends to become a crowded trade. And we’ve seen a taste of the ramifications of that in recent weeks. There were some vicious pullbacks in all the biggest winners about two weeks ago.
Fast forward to today, and the smoke has cleared a bit. Many of these names survived the exits of hot money and are now showing signs of resuming their prior uptrends.
At the top of this list right now is Exxon Mobil $XOM.
[Options] Where are the Setups?
Looking across the landscape of broken charts, it’s hard to put capital to work here right now.
When zooming out, there are some larger trends that are still intact, but man — you gotta be really bold to step in here.
There are only two stocks on our board that are in our buy zone: Suncor $SU and Host Hotels & Resorts $HST. Unfortunately, both have earnings coming up this week. We’d be forcing it to get involved here. And I don’t like being forced into anything.
We say it all the time: There are no called third strikes on Wall Street. We can stand at the plate with the bat on our shoulder for as long as we like until we find a pitch we want to take a swing at. And right now, that feels like the most prudent stance.
So we’re going to chill out and wait for new bases to form, relative strength to reveal itself, and setups to appear.
We’ve got plenty to keep ourselves busy with. Many of our open positions are getting tested. I exited two of them this morning (BTU and CCJ).
Mama said there’d be days like these…
[Options Premium] Written Jam Session
Hey everybody. We aren’t able to put up a video Jam Session this week as the whole team is off-site in Washington, D.C. attending the CMT Annual Symposium.
Need proof? Here’s me, JC, Strazza, and friends in front of the White House at midnight last night! 🙂
But I still want to update you on action in our open trades this week, as it’s been a busy one. So here goes: [Read more…]
[Options Premium] Can Consumers Relax?
Can everybody just chill out a little bit?
The frenetic trading activity that defined the end of last week appears to be continuing into today. And we’re seeing VIX north of 30. If I liked selling premium last week, I should love it today, right?
Well, it just so happens we’ve got an ETF with pricing in June options that is giving us a lot of wiggle room to sell premium into. So we’re going to do just that, betting on consumers to chill.
[Options Premium] Fading This Vol Spike
I’ve been talking recently about how coming out of the March expiration cycle, if feels to me that volatility (as tracked by $VIX) has changed regimes. During the first quarter of this year, buyers of vol dips were rewarded. But now it is my belief that sellers of vol spikes will be rewarded.
With that quick peek into my thinking as a backdrop, the price action in the broader stock market indices over the past few days has caused VIX to pop from 20 to north of 24 in short order and it feels to me that this might offer an advantageous opportunity for us to step in and sell some premium. [Read more…]
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