Some Ideas for the Coming Week
With $AZO earnings coming, I think a positive report could help spur further price recovery in $AAP.
The DEC $105 monthly at $1.00 would work well on a recovery to $107-$100 over the next two weeks, if AAP breaks positively out of the recent flag pattern.
$INTC looks to head higher again:
Next weeks $46 calls at $.20 offer a nice risk/reward on a break out of the consolidating channel.
While I think $MU and $NVDA will continue higher and see new record highs, both may digest last weeks move lower before posting solid gains again. I'll wait for momentum to turn north on both names.
and finally bonds, namely the 20 year treasury ETF $TLT:
I think a visit to the neckline at $122 has a high probability of occurring. I will be looking for $124 for next weeks expiration. They closed at $.24 on Friday.
And we have a host of earnings report this week to watch....
See you in the chat room.