If I'm seeing them right (I don't currently use candlesticks)-- are those 'hammers?' They tipped you off?
ES. I looked up those bars...I don't know what they are called, but what is it about them that is significant?
Covered 3K XLNX @ 31.63 + .59 points That was intended to be a swing trade but it gapped down so quickly I had to take the profit ($1,770) in such a short amount of time. I'm going to wait for it to bounce up again and take my short position as a swing unless the same happens.
This stock looks like it could drop another 2 points today if the market pulls back. I have a locked profit on my first play so that has given me a cushion on this swing play in case it does bounce. I don't think it will bounce and hold.
Watch MO, still negative after the DOW ran up 110 points. This is usually a big signal that there is no instituional buying interest or the big boys are continuing to short holding the price down. This is more a swing trade signal. IMO
Take a look at June open interest in MO Major bell curve with peak at 55 strike. I have noticed often these large companies have a major tendency toward the peak of the open interest at expiration. Also, the June 60 puts are $2.60 offer.