Based on Friday's action, the solar stocks may finally be decoupling from the price of oil. I'm going to swing them longer-term if there's some momentum next week. I took just a few daytrades on Friday:
CALM
Bought @ 45.50, shares
Sold @ 46.63
Profit - $1.13
SPWR
Bought @ 93.00, shares
Sold @ 93.95
Profit - $0.95
X
Bought @ 130.68, Aug 125 Call
Sold @ 129.90
Loss - $0.80 on Calls
Swings:
SYNA - started a position as it looks to be bouncing off the moving averages on the daily
Bought @ 53.72, Sep 40 Calls
SOL - Got a boost from the solar sector and positive comments on CNBC. Earngings are 8/19 before the bell so I may roll profits into Sep 20 Calls for downside protection.
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2 comments:
OE...I think Gold goes to $820-840 pretty quicky (by Wed.) at which point I'll most likely take profits on GG if not sooner. I expect if Oil bouces DAL will be back in the 7's this week and I will take profits..again by Wed. (this is all in theory of course)I think "something BAD comes this way" soon. I am scaling into C & UBS puts as a few of my buddies I used to work with tell me somethings brewing "bad" in a few financial related co.'s...so the whispers and action in the option trenches imply.
Hey Darwin, I'll keep GG on the radar in case Friday was the double-bottom. If something is brewing in the financials, it'll be interesting if it happens this month. All my banking buddies are on the usual Aug vacation.
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