PGR looks to be rolling over from the double top at new highs. MACD diverging down and the slope seems to indicate PGR should be at just over $80. The pattern took 25 trading days and isnt as even a V-shape as we look for, but going to grab some July 19 80 puts just after the open today. Target to sell before end of the week.
CNX has this third bottom in place but MACD has diverged up, and prices moving up form the bottom. Options are few and far between as is common with lower priced stocks. Bought the stock 500 @ $7.14. Gonna see how this pans out, MACD says price should be at $7.42 or so. If we get close to $7.40 we'll sell.
Watched this one the other day and when prices kept falling even with divergence up in place we put it the watch list. Gapping up today so hard to get in on options. But June 21 40.5 calls at .65c for a quick run up only 3 days until expiration.
PHM turned out to be a good divergence to the downside with a topping pattern May 17, 2019. A new top is in place but the MACD is diverging even lower indicating price should be around 31.5. Trying some June 21 expiration 31.5 puts at .27.
Saw ADBE yesterday in this pattern MACD has been diverging down for some time. The MACD divergence indicates price should be at $275. OTM options are a taf expensive. June 21 expiration 267.6 puts are at 3.10. might be worth a couple of contracts.
DIsney showing a modest downside MACD divergence on daily charts. MACD indicates price should be $130 ish gonna try a few June 21 , 2019 130 puts trading between .16 and .17. 15 minute MACD diverging down nicely too.
AMGN has a small daily double bottom and MACD divergence so with the weekly chart still strong down this would be a short term trade. MACD seems to indicate price sb about $172, so bought some Jun 14th expiration 172.5 calls for 1.58. Probably hold for a few days max.
The MACD divergence on the long term chart of TRV indicates prices should be near the $128 level. The topping pattern forming on the daily seems to add credibility that this move is over. The daily chart closed near the low today and the MACD on daily is diverging down. Those who follow other time frames will note the weekly while in a large double top too of...
The May 24 expiration 107 calls are under a dime, spread is bit wide and the Mqy 31 expiration 107 calls again spread wide .16 - .20. Im gonna grab 100 shares of the ETF for a short term move and throw stops very tight just under $106
A double bottom with an upside divergence in the MACD is taking shape. might be tad early but TBT is the leveraged ETF on the 20 year Treasury. Bought 10 contracts of the 33.5 puts expiring MAY 24 AT .09C BIT SPECULATIVE WE'LL SEE.
This was a recent post from a great trader and longtime colleague Jay Kaeppel
Sometimes it’s good to go back to the basics. So here goes.
Trading success comes from a “reality based” approach. It is NOT about “all the money I am going to make!” It IS about “formulating a plan” (see the questions below) AND “doing the right thing over and over and over again”...
This is a good upside divergence on MACD the double bottom pattern isn't hugely tidy but MACD seems to indicate price should be in $23 + range. OTM options May 17, 2019 23 calls are .25 - .40 the Further OTM calls have no volume action so steering clear.