Doing a big tank today, I thought we would need a hurricane to do it but all we needed was a war in the Middle East. And no I am not saying war is good. Just in case anybody thinks that.
War is beneficial to the sellers (shorters), I remember one of the first episodes of "24"...more money---->more power---->a need to progress to a different level of manipulation.
Ya, I would sell CAL here @ $27.86, BRDs on weekly are supported by a double top(ish) formation. PT1 @ $21.00; PT2 @ $18.00 or exit @ entry. STOP: $33.00 Good luck Gary. I will add this one to my journal as I simply pick the ones (and there are lots more that I have no time to look for) that I see divergences being present. Thanks for bringing this to my attention Gary.
Hey Romik, I haven't even looked at the chart with CCI and RSI on there. But after looking at your chart I believe it is downhill now. I actually put in an order to sell the puts when when they reach $3.00 but I think I am going to ride this one a little longer. They should be 3.00 when the stock is about 24.00. I think I can get more out of it and maybe pop 200% on this trade. Thanks for showing it. Gary
Hello Romik, Just wanted to let you that this morning my CAL trade was up 50% for the overall trade when the stock shot up this morning. My brother, sensing that we might have problems with it decided to sell half of our puts which got us 3/4 of our original investment back. We are letting the rest ride on it. I don't know why he did this as we still have 9 weeks left on the contracts which would have been plenty of time for either side to become very profitable. But I still have some ITM puts and a whole lot of calls left in this one. Gary
1/4 exited @ $10.50 and completes this trade. Results based on 8 lot trade and I tried to account for slippage by reducing the amount of points gained. PT1 70 pts 4 lots +$12,000 PT2 120 pts 2 lots +$12,000 PT3 25 pts 2 lots +2,500 Total gain: +53% ROI
I am going to change SI Pnl based on price oscillation, not on ROI as I don't trade risking 100% and making an example putting 100% capital at risk is just plain dumb, therefore: LU -6.8% SI +7.34%