The Power of Options: Turning a 0.6% stock gain into a 70% profit. My latest blog post includes 5 tips to help you start learning how to incorporate charts and options into your trading.
While scanning tonight I can't help but notice how many stocks are setting up that are still well below last years highs. With all the rhetoric seemed to be focused on bond yields and when the next crash is coming, I just don't see it? I still see plenty of bullish action for now.
Intra-day setups will be based on what the market does after the payroll numbers. Price action pays. Don't guess, play what it gives us. Here's some daily charts to note:
CIFS - Watching for 4 reclaim with bigger breakout over 4.25 to squeeze it towards 5/5.50 range. 15% short float according to Finviz. Day-trade only for me.
DWDP - Watching for 38 breakout for a swing trade towards 40. Ideally will trade May $40 calls if liquidity is there. Meaning easy to get in without overpaying vs. bid. DOW spun off earlier this week and has been on a roll.
FB - Finally trying to breakout over recent range bound action. Next measured move is towards 185 with risk on the breakout area.
TWTR - if it can ever hold above 35 there is plenty of upside room.
QCOM - Needs to close above 58 for me to be interested in a long trade towards 60-64 range.
CAG - After the downfall in December its had a decent bounce. It's due for another leg up if it can breakout over 28.
AIG - Finally peaking its candles through 44 resistance area. Has room towards 48-50 range if the breakout sticks.
WY - Continuing the beat down them. WY needs to breakout over 27/28 to get a bullish trend going.
CAT - Setting up again for 140/142 breakout range test. It usually seems to find its way towards 150-155 range. I will play May/June calls if it gets momentum.
SNAP - Needs to build above 11.50 for next leg up.
A few others: LULU, STZ, DIS, Some banks are shaping up (C, BAC, GS). Of course AAPL, AMZN, NFLX, TSLA always on the list.
Plenty to pick from if you know what to look for.