2/5 Day/swingtrades

I was definitely trigger-shy today. An hour into the trading session with the Dow down 110 points, I looked at my trading screen and most of my watchlist stocks were green...divergence. I then thought that Thursdays have usually been turnaround days these past few months...experience. Well, the markets reversed and did so quickly. I had an opportunity to pick up GS and POT before the breakout but my limit orders worked against me...mistake. I ended up trying to chase AAPL late in the day as it consolidated in the $96.50 area but got stopped out a little while later for $0.40 loss. I did decide to swing some out-of-the-money calls on the energy sector late in the day. Check out the charts. It's been a month since I had this many overnight holds so we'll see if there is any bullish follow-through tomorrow.

POT - This looks to be finally breaking out of the most recent channel. MACD/RSI/OBV are all rising. If we can get some cooperation from the overall markets and economic news, this one has plenty of room to run. I went with Feb 90 & 95 Calls.


OIH - This chart is not as strong in terms of all the indicators lining up. However, I like the volume the past 2 days. For this, I went with Feb 85 Calls.

USO - Definitely the weakest of the charts, I'm hoping that I end up catching USO at the bottom of the channel. 28 appears to be decent support. I picked up Feb 25 Calls.

UYG - I was a bit nervous this morning as I watched UYG drop to $2.85. This was below my intended stop level but the Feb 3 Calls were still carrying $0.35 premium. I normally would let myself get stopped out and re-enter but I'm carrying a large position and the $0.05 bid/ask is a decent amount of slippage. I was losing $0.05 for every $0.15 drop in the stock so decided to give myself a bit more room. Luckily, it rebounded and I'm still carrying the position.