Technical indicators keep flagging the stock market's underlying weaknesses. Still, the latest shallow selling is a bit over-stretched. "A Still Shaky But Now Stretched Stock Market" drduru.com $SPY $QQQ #VIX #AT40 #T2108 $BA $BIDU $CAT $GLD $SLV $DXY $USDTRY #forex $M $NFLX $RIO $BHP $USO $WHR
This is all what Macy did this year... V forming. Now what?
The only volatility contraction earnings play I'm looking at for this coming week is in Macy's, which announces earnings on Wednesday before market open, since it has the implied volatility rank and 30-day metrics I'm looking for (76/56). Here are some Macy's preliminary setups, with the short strangles set up around the 20 delta strikes: August 17th 36/44 short...
Waiting on Earnings (08/15), has been an awesome Dividend play if you picked it up lower down.
M is overheated on daily with a 70 RSI - may accumulate in these zones here
M on daily appears to be overextended based on high RSI (70.5) however we recently have seen it as high as 79 - weekly actually paints a strong bullish picture so possibly light retracement or just accumulation - will post follow up weekly chart
I would be a very tough buyer on Macy's, but around 24.07, not before nor after. Have a Good Trading Week, Learn how to beat the market as Professional Trader with an ex-insider! Cream Live Trading, Best Regards!
EARNINGS ANNOUNCEMENT/VOL CONTRACTION PLAYS: M announces earnings on 2/27 before market open. Preliminarily, the March 24/30 short strangle is paying .84 at the mid, which isn't very juicy. Given the size of the underlying, it may be more amenable to a short straddle or iron fly, with the March 9th 27 short straddle paying 2.95 and the 23/27/27/31 iron fly...
Forgot to post this yesterday, but we have been in this trade since Friday with some puts trying to ride this market during this large pullback. I am still going to post this because even with this bounce today I still think it has more room to fall. Last week there was a huge turning point in momentum and the selling volume started to pick up. With the signs of...
SEAS announces earnings on 11/7 before market open, with an implied volatility of 71%, which is at the upper end of its range over the previous 52 week period. The November 17th 11 short straddle is paying 1.37 at the mid with a comparable iron fly probably not paying enough to make it worthwhile (less than 1/4 the width of the longs). CTL (implied volatility of...
1) the aim of deep correction is completed 2) bullish divergence, 3) oversold by RSI such kind of signal were at 2008-11-03. Currently we can see the 1 growth wave is completed at 73.77$. I confident that it was the first wave because it was started from historical min price 5.07$ I think for starting to buy near 19.69$, since gap should be closed. Probably...
With VIX continuing to rattle around at sub-11 levels (it finished Friday's session at 10.03), the place to sell premium remains in earnings, although even there the pickings are slim, as broad market low volatility bleeds through the entire market. The decently liquid underlyings on tap for earnings next week: DIS, M, and NVDA, with DIS announcing Tuesday after...
bought it on Friday morning when the market had a big dip. currently up 2.14%.
i think M is oversold now, expect to bounce back, I am prepared to open a trade, stop loss around 22.00