xop short updateupdating previous chart, added building the bottom, as before, big green bottom should start building soon. See you at XOP 22. Shortby claydoctor1
XOP ABC patternswe are right at the edge of the near term truth. Do we leave the box and start another ABC pattern, or do we bounce yet again off the box's bottom trend line? My guess is another ABC, with the market looking toppy and the price of oil looking downward, with demand slowing after the summer peak and inventories again full. And RSI has plenty of room to run lower, yellow circle. Best of fortunes to everyone.Shortby claydoctor1
XOP weekly - 2009 price action - 7/2/2016In June 2009, XOP gave back 2/3 of gains after interim peak. If history repeats, we may see XOP to drop to $28 level in coming weeks (0.618 Fib), and after that will be a good buying opportunity.by CosmicDust3
Rollover Beethoven & Tell Tchaikovsky The News: XOP Rolling OverEnergy prices, as measured by XOP-are very likely to decline. The-XOP-chart is rolling over to a (likely) new down-trend. There is substantial resistance at $38. A five wave harmonic pattern with three a-b-c corrective waves has just been completed. This configuration has not yet rolled-over, but I think it will as the price approaches the 89 day moving average (golden-yellow line). For those of you who think the USD will get stronger, it stands to reason that the energy sector will get weaker. Here are the letters and what "TRADE-MAP" means to me (first the letters in TRADE): 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces. Now the letters in MAP: 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. There you have it: Don's personal "TRADE-MAP. Here are "Don's Top Ten Technicals": 1. The Ichimoku Cloud is weak, with lower prices now than structure to the left. 2. Prices will likely fall BELOW the cloud. 3. Prices are falling BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving LOWER. 5. The thick black line is the Ki-Jun-Sen baseline of the Ichimoku Cloud and this is very likely to head DOWN. 6. The indicator on the top of the page is RSI / Stochastic , and this is FAILING. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top (bar-type) indicator measures the "phase energy", and this HAS BEEN GETTING WEAKER. This suggests the selling has more to go. 9. The red fractal arrows (not pictured) are DOWN. 10. Look to the far right on the chart, around $34.81 You will notice a blue line on the bottom (jaws), with black dots above (teeth), and a yellowish line (jaw) above the black dots. Now, all three are CLOSING, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a SLEEPING alligator, and the alligator will awake to feed into a new DOWN-TREND soon. The XOP-is different from-XLE because of the percentage limitation of high yield energy stocks (I believe that no more than 2.5% of any one issue is allowed in-XOP). In other words, the dividend payouts in XOP-are not as strong as they are in-XLE. XOP-price action should roll over easier. Today I would like to close with three quotes from Mark Twain: 1. “Don't go around saying the world owes you a living. The world owes you nothing. It was here first.” 2. “Get your facts first, and then you can distort them as much as you please.” 3. “I have never let my schooling interfere with my education.” I hope this contribution has been helpful. May all of your trades go well. Don. Shortby 649bruno3
XOP the double bottom the world has been waiting forwith increasing RSI values, this could actually be bottom support in September. Where we flush out the remaining soft oil companies that teetered on the brink but survived last low. Could be very ugly for them, and the big boys swoop in and gobble them up for "pennies on the dollar". Contracting world economies from the euro mess and slow down, dollar strength, oil cannot stand up to that pressure, demand slows. The perfect scenario for lower oil, and the what a real double industry bottom requires. Your welcome. Shortby claydoctor110
$XLE $XOP $CVX Looks very boolishI think we get a dovish Yellen. Never thought raising rates was ever an option in an economic warby theKid2
after one month of consolidation, finally moved to upper channelThis is a long month for oil company stocks on ERs. $GUSH $GASL $FCGby TimZhang1
$XOP - DailyNow the most overbought in 2 years with the 1.618 extension just above. CCI at 260+ and RSI over 70.. Will need to pull back to S1 at leastShortby optionflow1
TRADE IDEA: XOP APRIL 22ND 24/33 SHORT STRANGLEGotsta go where the volatility takes you when premium selling, and it's still in oil and gas ... . Here are the metrics for the setup: XOP April 22nd 24/33 short strangle Probability of Profit: 70% Max Profit: $107/contract Buying Power Effect: Undefined Break Evens: 22.93/34.07by NaughtyPinesUpdated 2
XOP/XLEA 5 waves impulsive up movement seems to have been completed on the raito of XOP/XLE. A pullback is expected soon. A break above 0.49 would invalidate this view.Shortby powerintegral1
XOP AnalysisLong above $26, which is the 161.8% Fibonacci extension of the October rally Bullish momentum divergence Taget of about $32Longby steinboggen0
Quick Earning View (Oil & Gas)Oil and Gas stocks this earning has a lot of premium cooked up in the options. 2 x Premium than the expected moves. Some Companies reported positive earnings and guidelines, while others did not. Oil Sectors around earnings are a bit tricky to trade. Some people with 10-15 years won't touch these. If you like to take a dip and have fun like me. Go for it. Warning - Extreme Risk Management Needed Strategy - Before the earning day, I will add a few butterfly / iron condor (what ever makes the better sense) Could Leg in as well. After Earning - Close out the worthless side (winning side) and depending on the intraday breakout strategy, will play the remaining to close out for a breakeven or scratch off. Ideally looking for a zero move. i.e. staying within the range after earnings (highly doubt)by UDAY_C_SanthakumarUpdated 3
XOP SHORT STRANGLE IDEAWith an implied volatility rank of 76 and an implied volatility of 56, an XOP short strangle is a good premium selling play here, with the standard 45 day setup yielding about 1.00 in credit for only $275 or so worth of buying power. Here's the setup: Feb 19th 23/32 short strangle Probability of Profit: 71% Max Profit: $97 Buying Power Effect: ~$275 Break Evens: 22.03/32.97 Naturally, things may change come Monday open, so be prepared to tweak your strikes and/or fill price ... .by NaughtyPines2
CNQ Bear Call Spread and XOP Bull Put SpreadI am not sure if this is the right forum for this but anyway... Pairs trading is a statistical arbitrage strategy designed to exploit short-term deviations from a long-run equilibrium pricing relationship between two stocks. This is a well known strategy used by hedge funds and institutional investors. I have previously used pairs trading by trading two correlated stocks. Normally a trader would go long on an underperforming stock and, at the same time, go short on an outperforming stock. If properly constructed this approach eliminates net equity market exposure and the performance is then only depends on the relative performance of the two stocks. As you can see from the above chart CNQ and XOP are correlated and move in a very similar fashion. It is not surprising as they both have very similar drivers - the price of oil and gas. CNQ has recently been outperforming XOP so to construct a pair trade a trader would short CNQ and go long XOP. For this trade I utilised stock options by selling two January 2016 credit spreads at the same time - CNQ $22/$23 Bear Call Spread for $0.26 and XOP $27/$28 Bull Put Spread for $0.32. The total credit received from these two spreads - $0.58. The maximum risk for the trade is $1.42 per spread and the maximum return is $0.58 per spread (excl. commissions). If the spread between these tow stocks returns to mean, I should be able to profit from the trade. Let's see how this trade performs over the next 4 weeks when the Jan options expire.Shortby Options.Alpha220