(Pulling hair out). Ugh. A tough market temporarily for premium sellers. With VIX caving in dramatically off of its late December greater-than-35 highs, premium selling is the old gray mare that (temporarily) just ain't what it used to be.
That being said, there are a couple of potential earnings plays to be had next week: IBM (68/31; Tuesday after market ...
A head and shoulders pattern has formed on the hourly charts for light crude futures. This marks the potential for a bullish reversal and a sustained break below the neckline could see price drop as low as $49-$49.50.
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This is an update of my oil call from a few weeks ago where I suggested an inverse head and shoulders pattern might turn oil around.
I believe that the current fundamental environment for oil is favorable so I would not like to fight the trend on any long term basis, but I do believe we can make a quick trade as oil runs into overhead trendline resistance on the ...
We have a long opportunity in crude oil now. Crude oil has been sitting at the 61.8% retrace around 45.40ish for the last couple of days.
A study of the longer term cycles shows that we have just completed a corrective red zone which actually started in March 2018, this cycle reached a low in December 2018 and will reach its next high in June 2019.
Story: For a number of highly-discussed ab debated reasons, that do not need to be presented here, petrochemicals have seen a substantial devaluation over the course of the last 2 months. While the view from a macro-perspective remains bearish, a rebound from the recent sharp downturn would not a surprise.
Note: The trades presented offer a 1 to 1.75-2.0 ...
in this medium term chart, with 240 min candles we can find a divergency into the wave oscillator.
the most separate discontinued line could be the next accelerated tendency line
RSI+ROC have not been this low since early 2015/late 2014
Forming reversal candles on the weekly chart
SRSI and RSI+ROC are starting to curl up
Horizontals marked are the S/R levels to watch for possible rejections and bounces
Prices of each level are on the right side of the chart
I've been watching OIL for a while now. I think the time is now to get on board. Keeping it simple. The cycle timing is right. The MACD is above zero, the PSAR is positive and the long term trend line is broken. Putin meets with OPEC today I believe. I am buying OILU instead of GUSH because the markets keep selling off, which could drag GUSH down despite improving ...
Earnings With >70 Rank/>50 Implied:
No underlyings with highly liquid options with earnings announcements in the next week. With single names with earnings announcements in the rear view mirror, we're looking at earnings starting up again in the January cycle; I'd rather just play those closer to the announcement, rather than get caught up in a volatility ...
For the first time in a long time crude oil is showing some strength. Beyond coming down to the psychological '50' level, crude oil is facing an OPEC meeting next week on Thursday. There is good reason to believe that output will be slowed and traders will likely position themselves ahead of that.
You never want to catch a falling knife unless you have good ...