VMW - I left this for dead after last quarterly earnings when they got rid of the CEO. I'm guessing it's moving up on rumors of Cisco being interested in EMC/VMW. There is a big gap that needs to get filled if technology stays strong.
NVDA - Earnings weren't that great but it's been basing pretty well at 13 the last few days.
WAB - provides brake systems to the rail industry. It held up pretty well today but it's right at the 52-week high and all the rails (UNP, CSX, CNI, etc.) have topped out. If the market continues to weaken, this may end up being a double-top. Volume was lower during the move back above 58.00 and MACD is declining. OBV/RSI are still on the way up so I'll wait for it to break today's low to start a position.
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OE, bought CVX Sep 85's this morning...I see GG getting to 36 before any road blocks..let me know if you see different (appreciate your input)..still holding DAL 7.5 puts..I may hold past tomorrow depending if we can get a 7-10 trend-wishful thinking ha! XlF puts going my way so far, we broke 19.84 first support, next stop 18.77? Also C & UBS going along for the ride down...I should quit this while I'm ahead!
Nice job on your positions! I'm going to take half off on GG when if hits $33.5 (recent resistance). This is a very choppy market and trends longer than 2 days have proven hard to come by. Unless another bomb drops this week, the selling in the financials appear to have abated. UBS and C are banging up against the moving averages on the 15-min. It wouldn't hurt to take partial profits in case Paulson/Bernanke step in again.
Agreed. I did take half off on XLF 20's @ 1.13 (bought @ .63). I will take half GG at ur $33.5 point and/or if we see gold at $820-840 in the next day or two. I may swing the other way with GG or AEM at that point.I do think oil may have a few days upturn as everyone and their mother is all of a sudden bearish on oil-what happened to all the 170-200 oil cheereaders? I will stay with DAL puts and press here a bit. I'm hearing negative odds and ends on C so will use a tight stop in the event this turns north quickly. UBS is uninteresting to me but was mentioned by a trader freind. Someone doesn't want the financials to go much lower.Thx for your input..gratly appreciated.
I would still fade the gap. Yes, another "bomb" could drop and we could go lower but at this point, there is only so much downside left and only so many available shares to short. Other than SKF, I'm done with the financials unless we get a rally. There's more money to be made catching bigger moves in energy/commodites/solars.
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