Stocks Daily Discussion

[pftq]

Yeah, I gotta stop making these side trades and stick to my program.  Typical sell the news with PCS - good thing only picked up a few.

And while I was preoccupied with PCS, I didn't notice my program made another RSI flip on SPY (could've been another 50-100% trade on calls).  Really need to get it sending me emails soon so I can notice them without going home to run the program.

[pftq]

PCS just started spiking again.  Only thing I could find was way earlier news about Sprint maybe making a counter bid.
Will be funny if I end up making a profit on this one despite the horrible volatility.

[ItsMeexD]

long XME 44 calls. alot of miners like CLF, VALE, AA, WLT making inverted heads and shoulder patterns.

also RIMM is looking beyond amazing, definitely getting in at break of 100sma.

[pftq]

I'd wait for confirmation on RIMM, make sure it can clear previous top, unless that's all you're going for.

But yeah, market and miners look great today after breaking above weekly range.

[pftq]

Picked up Nov calls for RSX at $1.20 based on short-term oversold.  Signal was from previous day so I was actually going to buy this morning cheaper but I hesitated.

[pftq]

First time screening for intraday trendline breaks with my program - just trying this out as I don't know how effective it is on the 30-min chart yet (it works for buying the stock itself but not sure if the movement if enough for options).

Picked up a few EXC 35x Oct calls at $1.25

[wd1040]

Btfd gold, eur, spx. Ichi fast line and trend bottom support hit, much prefer to close at 12870 or higher to retarget 13140

freaking apple correction dragging everyone down, but btfd!

Sent from my Nokia N8

[ItsMeexD]

<<reply to post on October 4th, 2012 1:40:35 pm>>

XME calls working well, with XME breaking out. strong volume. both WLT CLF over 50 day sma.

[pftq]

Good job on XME - setup is pretty good on that one.  Hope you didn't get into RIMM though.

Planning to also buy puts on INTC if this signal holds.

[ItsMeexD]

INTC 100 month SMA at 21.69

[pftq]

lol I was confused for a bit since the 200-day is way above... why 100 month?

[pftq]

Went ahead and picked up Nov 22x puts for INTC at $.88.  We gapped down today so it wasn't as strong a break (might bounce to fill the gap), but at least then I have more time on the options.

[pftq]

The SMA I erroneously coded closely approximates 2xPeriod EMA but isn't exactly the same.  Any idea what it is I actually made or should I just call this a new indicator? The formula is below for calculating the moving average:

MA = [ MA * (Periods - 1) + Price ] / Periods

[pftq]

Planning to pick up calls on SPY if this signal holds at close (price needs to stay this low to be oversold).

[pftq]

Out of INTC puts at $.95 from .88.  EXC calls also still doing well - going to exit probably at close or tomorrow.