NXTM Still has Potential

On Friday NXTM broke through resistance on high volume and closed on it's highs to set a new 52 week high.  Added some to position on Friday

NXTM to continue move?

NXTM is right at its all time highs.  Given the current market conditions, The stock has held up its uptrend very well... I'm looking for a break currently of 14.50 but after that 15 is a very key number, It looks like this can make new highs any time soon! Buy Buy Buy!

Ideas for 6-22-10

ASIA - Short to $23 - $22 area:

NTES - Long to $35 if continuation is present

Watching APWR

APWR - Apower Systems:

Recently ran up and formed a "bull flag" and currently around prior resistance (Current support). If we get a break, i'm looking for $10 target short term.

How do you like dem apples?

Time to buy some POT?

I think its time to buy some POT (Potash that is). Looking for a target of $106 and could add to the position if it breaks higher on volume. Fertalizer co's are starting to make a comeback!!

POT Daily Chart:



PCLN also looking good. Sold off hard recently but watching to see if it breaks the current resistance level (marked in red). If so, 1st target = $208 / 2nd Target = $220 - 222.

PCLN Daily Chart:



The prices are kinda steep (Estan caros con cojones!), So I will probably trade the July options for more leverage.

Tribute to Spain - World Cup 2010

Te comistes el Fake-out or Break-out?

The SPY broke the descending trendline on very low vol. All indicators show the market oversold and are currently turning up. To convince me, this shit has to break $111 on higher vol than this... Still Cautions but as of ahora, the futues are pointing to a positive open.

SPY Daily



Pero, I have some positions I opened on Friday but in my longer term acct (IRA:

S (Sprint) bought due to recent sell off and on the HTC EVO hype.

S Daily Chart:



DCTH (Delcath Systems) - bought due to the recent weakness out of the ASCO Conference (Bio tech conference). Had relatively good news but sold off on it... playing it for a bounce (el rebote!!)

DCTH Daily Chart:



Picked up some RIG (Transocean) again - This has gotten the shit beat out of it since the start of the Oil Spill. Trying to catch the falling knife! Otro rebote pa la guirita!!!!

RIG daily Chart:



Still have $VXX and $GLD calls for hedge...

S&P Ready to break down?

Markets started the day in positive territory today and Popped in the early morning only to start selling off slowly after 12pm. Markets drifted lower till about 3pm when the pressure selling came in and the S&P and Nasdaq ended in Tha Red!

BP ended down almost 16% after selling off all day on news that the oil continues to spill and pre-mature speculation talk of bankruptcy on Wall Street. BP's stock price has not been this low since 1996. A combination the negativity in BP and the Euro is probably what caused the late day sell off.

The SPY (S&P ETF) has bounced off the February lows about 3 times already and continues to hit into the descending trendline above. The SPY looks as if it wants to break down further. If it breaks through this Feb support line, watch out below! Se jodio la cosa!

SPY Daily Chart:




I currently have 2 positions open at the moment. I bought some $VXX July 35 calls (which I am currently negative on) and I rebought some GLD (Gold) July 125 calls today. If the Market decides to continue its descent (Which I think it is), These should put me into the green!

Pa Trrrrrraaas...

6/8/2010 - Choppy Day

The S&P500 was all over the place today, started up, then down, then up, then down and finally popped in the last hour. The Tech heavy Nasdaq however finished almost flat on the day after being negative throughout due to the Techs being under pressure. Its days like these I try not to trade to much as I find myself over trading trying to choose a direction.

I closed out my V July 80 calls for a 8% loss at the start of the day did get a little love in the late afternoon. I also sold my GLD (GOLD) July 125 calls too early yesterday at 1.90 for a 28% gain. GLD hit my $122 target today and retraced. I might look to get back in if it retraces further.

Market not looking good

As we start to kick off the week of June 7th, Asia is currently taking a beating (down2%) and US Futures are also in the Red. On Friday I bought some $GLD July 125 calls. It looks to me like it can make new highs with everyone looking for somewhere safe to stash their money. The S&P 500 closed around those critical levels I mentioned back on May 25 and it looks like it wants to break that 1050-1055 area:

S&P 500 Daily:



GLD (gold) Daily:



GLD Weekly:



I've also been keeping an eye on VXX which reflects the value of the VIX Futures. VIX is a measure of the volatility / fear in the markets. VXX is also starting to turn back up.

VXX Daily:



On Friday, I also purchased some V July 80 calls. I'll keep a tight stop on it in case things get ugly.

Suavezon!

Liking Visa - $V

Visa (V) started to get some late day action. Looks like the chart formed a short term double bottom and is bouncing. I think we can see $75+ in the next few days. Was going to put on some Calls but No position for me yet! It started to run and left me behind.

Visa Daily Chart:



In the Chart below, V is looking way overdue for a bounce. (If BP can get their shit together!!!)

Weekly:

Out of RIG +38%

I sold the RIG July 60 Call options today for $1.98 for 38% gain. The calls did move higher to about $2.10 but I'm good with what I got. $2.00 was my target and it was hit. I had placed my sell order just below the target at 1.98.

All Cash right now with the exception of some positions in my IRA.

Can RIG Bounce?

The S&P Closed up 27.67 points (2.58%) for a nice strong close today and the Dow Jones finished +225 (2.25%). The stock market has been choppy lately trading between the 1060 and the 1100 areas on the S&P 500 (See below). Currently the S&P Index closed right below this 1100 area which appears to be resistance at the moment. If the markets can get another up day tomorrow and stay above this number, stocks should be able to get a bigger bounce. Stochastics and MACD are also turning up from being in the unsold area which could provide a little more power. With all the uncertainty with Spain, Greece, The Largest Oil Spill in history, etc., I dont think the bounce would last very long In my opinion. For the moment, I see the market trading sideways until alot of this uncertainty becomes clear.

S&P 500 Chart 6-2-10




There are however oportunities that present themselves on a daily basis and some stocks that buck the current trend. Apple (AAPL) for instance has been sticking to its guns. While the market has been attempting to choose a direction, AAPL is heading back to its all time highs.

AAPL Chart 6-2-10




Still have not done much trading and If I do, I am staying small. Today I did put on a small position. I bought some Transocean - RIG July 60 calls which I currently have an average of $1.43. I'm looking to sell at approx $2.00 for a 33% gain but I'll take what I can get! Can RIG Bounce????

RIG Chart 6-2-10




I'll let you know how it goes!