HK is in the energy sector. I am not real bullish on the sector, but some stocks have sold down. Mostly the drillers. HK appears to be in the middle of a bull flag. A bull flag should move higher to test the upper channel again ($1.17), as indicated bu the GOLD bars on the chart. The best outcome would have oil move stronger higher allowing the AB part to be...
I might be a little early here, but I like RIG and I'm BUYING. After a 78.6% retracement off the highs it looks promising. The RSI and %R are oversold and have acted as a good buy spot in the past. The company has positive net income so fundamentally pretty solid. Earnings are a way off so no near term shocks. The 15 min chart shows a double bottom, which usually...
Covering this at nearly 50% max profit for a .51 debit. I got in for a .93/contract credit, and am out for a .51 debit, so realized a profit of .42 ($42)/contract -- ridiculous for an $11 underlying .... .
Here's what I'm looking at for next week: VIX/VIX PRODUCTS . VIX finished last week at 16.50. I will look at VIX/VIX product setups early next week depending how the "horse does at the gate" (Monday). If we see a tight range in the S&P like we did pre-Draghi in prepation for FOMC, VIX could drift go a little lower Monday through Wednesday, in which case I will...
High implied volatility rank plus high implied volatility equals good premium selling ... . RIG April 15th 9/14 short strangle Probability of Profit: 66% Max Profit: .93/contract ($93/contract) Buying Power Effect: Undefined Break Evens: 8.07/14.93 Notes: Ridiculously good premium for such a low priced underlying.
RIG exploded past its anticipated resistance at 12, settling at 12.71. In fact its price and volume have been increasing massively each day for a week now. I'm hesitantly expecting the price of this stock to increase further, but the timeframe is unclear. It's quite possible that we have a bit of a gap on monday, and it opens high. I do not expect the stock to...
Key reasons for taking a position: Triple RSI divergence, with lower low price made for every higher highs in RSI Velocity of the crash is getting steeper by the day! 77 degrees Price is close to the 2003 support lows. Take your time in building a position gradually over time, as I'd still want to wait for the final indication to go all-in for a...
This is a time where all fundamentals about the oversupply of oil, glut, and worsening global economy should be ignored. It is simply so oversold that it in the near term it will vastly outperform most other assets. There's simply a limit to how low it can get before it bottoms. No, WTI (USOIL) isn't going to $20 in the near term yet. I do see a possibility of...
RIG is coming of divergence that sent price breaking resistance with momentum confirming the move higher by also making higher highs. RIG has since pulled back to a .618 retracement. I am looking for price to move past its most recent leg higher and test the 127 projection of this leg. With stops placed below the most recent swing point low, this trade offers a...
Original entry was based off of Divergence. Moving up stop.
There's a strong support for oil at $37.72 and I believe that will be the bottom in the coming months. It is only bouncing given the extreme oversold condition and that does not change the fundamental fact of an over supplied oil market and many more that are stored in offshore tankers. I highly doubt the long term log trend in black will hold. (Temporary bottom...
Interesting location. I would love to see volume come in.
The stock is certainly in a longer downtrend. A Turnaround is to early to tell - Even though, it can be time to start looking at a longer term Long position in the stock. Looking at the timecycles "Low to Low" from 2004 - present, It seems to come in a cycle Low every 76 to 81 weekly bars or every 500 to 550 days. We might now be at week 77 from an earlier Low....