All posts by uranium-pinto-beans

TRANSOCEAN (RIG) Reversal In The Cards?

 

RIG is finishing up formation of its shoulder on an inverse head and shoulders formation. Should the chart play out the stock could make a move back to the $58 area by next week.  I am playing the move right now with the $50 calls.  Currently I own 10 of them, last price $.90, with a bid of $.89 and an ask of $.91.

RIG reports earnings tonight after the close.

 

 

 

May 2nd Outlook – Gameplan – CAT SPY……..

 

 

On Sunday night I posted my outlook for the week, most notably:

'We have the SPY holding above key levels, and look at some of the indicators. They are just starting to turn. We could easiliy see a test of the highs or a break in the next few weeks. The bulls are not going away. My target this week is SPY $141.50. "

Today SPY hit $141.66 and then faded, .16 over my target. The fade turned into a sell-off late and SPY closed in the mid $140's. I'm not concerned at this juncture about another pull back. We are well above the 50dma, the RSI has plenty of room to go higher. A beak of $140 would draw my attention, further weakness could be signalling a lower high in the SPY. But we did hit a higher high on the DOW today. The bearish case from here is mixed at best. I have been playing it light lately, cutting my losses, locking in my profits.

You could see that with my NFLX trade I posted in chat today. I bought 10 of the $85 calls for $.53. I sold them 45 minutes later for $.78.

What I will be watching and possibly trading tomorrow.

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WEDMD (WBMD) Looking Cheap

 

WebMd has earnings out after the bell tonight.  The stock has been crushed over the last year.  It has formed a bottom in the mid $22's and I think its geared for a move higher.

Options are thinly traded on WBMD,I do think the $22.50 and $25 calls that expire this month could see a nice increase should we see a pop post earnings tomorrow.

The $25 calls for May were $.15 x $.30 earlier today and are now $.30 x $.40

The $22.50 calls for May  last price $1.05.

To limit risk you could go out to another month such as June.

June $25 calls are $.45 x $.55 and the June $22.50 calls are at $1.35

PCLN Price Is Right Yet Again

 

PCLN remains one of Option Millionaires greatest calls.  With all the bears piling on, we were one of the few that saw more gains for this stock.  Back in December we called the stock for gains at $440 while everyone else was running for the hills.  Once gain we were on point.

 

 

We could not have been anymore right!  We called the stock almost precisely at its late 2012 lows.  The stock has rallied over $300 since.

 

UPB’s Outlook For the Week – AAPL, SPY, AMZN, PCLN, CAT, COF, AXP

MY GDX text alert at $.33 on Thursday hit $1.11 on Friday! Just a perfect alert. I will take a bow now.

Thanks for all who attended tonight's class. For those who couldn't make it I have the file and can email it to you if need be. I will be hosting another live class within the week. Either Tuesday night or a night this coming weekend.

On to this week. What do I see? What have we.....

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