Everyone is talking about the big news about QE3 coming thursday. As long as there is an announcement about extending the date for low rates AND some type of unorthodox easing program, i think the market continues to rally. Hopefully it is slow and steady 🙂 which will provide an environment for certain stocks to continue MULTI-DAY runs... those are the types that have the better odds a of returning huge gains.
On watch today:
SODA - Liked her at the start of the year and the story is even better now then before. Still a large short position and looks like folks have lost interest last few weeks, which means CHEAP CALLS. $40 calls @ .35/.40 looks like the play. Tight bollinger bands means impending break possibly coming.
WYNN - always on my watchlist and the real MACAU rev numbers for august came out. 2nd best month on record but still slow growth. I think WYNN looks to push over $110 this week and will play accordingly with $110 calls @ .33 or so. Playing WYNN recently has gotten me burned, but will take one big move to make up for it and then some. Think this maybe the week...
AIG - bought some calls last week that didnt pan out. The govt is selling $18 billion in shares from its stake and will become a minority shareholder. AIG selling off PM but i think this will turn today and head towards the $35 strike... Will look for some lotto calls at open.
Others on watch today: SLV, AGQ, GLD, AAPL, PCLN, LNKD, NFLX, SINA, BIDU -
Was a great class last night.
Hope to see everyone in chat and lets have a great week!!