The Daily Read
Equity markets around the globe sold off today after the Yen strengthened sending the Nikkei down dramatically after comments from Japanese officials scared investors. We witnessed the same thing last week only to endure a remarkable recovery into the end of the week. Was the recovery nothing but a sell-able bounce? Are stocks poised for a big decline heading into the summer?
Two Fridays ago a late… Read More
Six months ago Best Buy was trading at its lowest levels in 10 years. The company was struggling and investors were running for the hills. Today the stock has nearly tripled in price making those who thought a turnaround was possible substantial profits. Below is $BBY chart and a chart of the $20 June Calls.
The $20 June calls going for $.10 near BBY’s December lows… Read More
Happy Saturday to everyone! As we wind down the weekend tomorrow and get ready for an exciting fresh week in the market, especially after the late Friday breakdown in all of the major market indexes, all members are invited to stop by Sunday night for an educational webinar on using relative strength and the RSI index to improve trading performance. The concepts here are useful for both short… Read More
A little over a week ago we learned how the “Taper” was going to crash the market. Before that we had Cyprus, Sequestration, The Fiscal Cliff, and next week we may find out Mila Kunis went short the financials. We’ve been told to sell since the March 2009 lows yet here we are just a few weeks removed from hitting new all time highs. Buying the… Read More
$GES had a strong move higher today, and was up over 10% in the middle of the session. Why am I telling you this? Earlier this week I penned a blog post entitled ” Buying Calls Ahead of This Earnings Report”. http://www.optionmillionaires.com/2013/buying-calls-ahead-of-this-earnings-report/
The earnings report in question was GES. I purchased the GES calls at $.80 the next day as I said I would in the… Read More
Taper. A term closely associated with types of haircuts, candles, and earrings is now being used to describe the Federal Reserves Monetary policy.
A Google news search provides no fewer than 1,000 recent articles concerning the term “taper”.
Just like the ‘fiscal cliff’, the ‘sequester’ earlier this year, and Cyprus, the Great Taper offered investors a chance to unload stocks yesterday. How has selling the… Read More
A downward trend looks to have been broken here. The stock broke above long term trendline resistance recently and then came right back down to that line. It acted perfectly as support and the stock looks poised to break out nicely to the upside. I can trade both short term and longer timed options on this stock and that is what I intend to do.
I am… Read More
Come join me tomorrow just after lunch as I go over charts I am watching and give you a second look at charts you are undecided about. You can register any time before the webinar. I will also record it and post it in the forum later that night, in case you can not make it.
See you there:
Please register for Charts With UPB on… Read More
Earnings continue this week with some big retailers reporting earnings. This should offer an opportunity to make a profitable trade. GOOG hit new highs last week and looks ready to make an even bigger move, which way will it go this week? AAPL continues to break higher after a 6 month downtrend, will it keep moving up or will the stock pull back?… Read More
