Market down tripple digit did you profit or get slaughtered?

Whats up Traders!

  What a day in the markets, dow down 353 points and spx breaking that 1600 level, was a huge sell off day. If you sold into any bounce and or took puts on GOOG, AAPL, NFLX ect. you were banking big. Biggest sell off in 2013, some say its a correction, some say its just a simple pull back. Just trade it!
GOOG - Gapped lower but tested that 900 level again and sold off from there. If you took puts later in the day on the 892 breakdown you banked big as goog closed at 884.

We could see a bounce in GOOG soon, will wait for confirmation. Each pull back on GOOG was bought and worked its way higher. 878.90 Good short term support, could touch it soon and bounce. Will look for puts when I see confirmation of more downside, or Calls when we see it rally back to 900. Intraday trades will be tough, but watch for opening momo after first 15min.

Trade Ideas and setups for the week

Whats up Traders! Check out my trade Ideas and setups.

GOOG-
Had a great day today, I tweeted out this morning (Follow here) That GOOG had a nice breakout with nice volume and needed to break above the first 15min closing bar to continue its run and if so my target would bee 900. Well it hit and exceeded that target by $1 at the end of the day.  Now that GOOG had its pull back and now breaking out once again could a new all time high be in place?..

Some Thoughts About Apple (AAPL)

Quick Thoughts on Apple (AAPL)

AAPL has been on its downtrend for quit sometime now. If you notice on the chart it had a very hard time getting to that 450 level, which it never had a green close above it and signed more downward pressure. Also if you look at the light blue line which represents the 50dma which sits at 434.95 and has come up and hit and sold off the pas 3 days now. I have not traded AAPL in a few days as the swings and pins have been eating up the options players. I am looking for a break below 428ish level to test the 420 level fast. I have a bearish bias towards AAPL until it gets above the 450 price then that might change. In short I will be looking at buying some puts for the 428ish crack which IMO will be the day it cracks way lower and test the 420 area. 

Delcath systems (DCTH)

Hello Traders,

Delcath Systems, Inc. (DCTH) Trade.

What a day in the markets today. I only took one trade today which was DCTH on the breakout continuation. The morning volume was great, with follow threw to a High of Day at .62. I bought into the breakout in the am at .55 and wanted to hold this for a swing trade to fill the gap to .75. I was in the profit zone for the morning session but the selling continued as it may be assumed that bag holders were selling into strength. I was stopped out on this trade today not thinking it would break below the breakout point of .50 but it happens. At the least we know that scalping would have been the better strategy or selling the morning gap. I was right about the breakout with heavy volume so if you were quick you could have made a nice profit in the am.

One could argue that DCTH did make a higher high and a higher low today, still a bullish sign.

The action I did not like was that it broke that key .50 level and held below it with a close of .4906.
This play still can be intact just will wait to find out.

Trade Idea for 6/17/13

Delcath Systems, Inc. (DCTH)

Looking at the chart, it broke above previous resistance above .50 after numerous attempts.
Looks like it wants to fill the gap to .75 as a short term fill. 8.3% of the float is short, as the float is only 89million shares. With pressure building and the break above .50 this could fill quickly. A quick Fundamental glance looks pretty healthy, although its going threw some litigation right now with rumors of buy out floating around. Key Statistics Recent Headlines

It’s Been a While….

It’s Been a While….

Whats been going on?

After a few months of down time I will ease my way back into this volatile market. On a good note, in the down time I have had I educated my self in the world options. I will be posting more about options in the future as I have been paper trading different options strategies. I also have been raising some cash that was lost in the hits I was taking in the market.

My plan will to be posting more watch lists, as well as interesting articles dealing with options and how awesome they are at limiting the risk on trades. In addition I will also be posting about the recent books I have read and my opinions on the market we are in.

I look forward to updating the site and tackle this volatile market.

Stock Watch 3-1-2010

Stock Watch 3-1-2010

Got a nice 9 stock watch list. Mostly comprised of breakouts which are my favorite. ISSI was my trade last week check out my summary here.

MCG Capital Corporation (MCGC) – MCG Capital Corporation is a private equity firm specializing in investments in middle market companies. This stock got a nice spike on Friday on speculation of future earnings. The best part is that it is a technical break out at $5/share and has volume behind it to propel it forward and spike good. Potential buy for quick gains on Monday, will watch the action in pre market to see where it might go.

China Armco Metals, Inc. (CNAM) – This stock got a 16% spike on Friday from an announcement that they received a line of credit from ING bank for 15million dollars to Expand Its Distribution Business in 2010. It is in the technical break out range right now, no telling if this could keep going or if this is an opportunity to sell into it. I will watch this to see if volume picks up and price action leans towards a higher breakout, potential buy for a swing trade if it does.

Atlas Pipeline Holdings LP (AHD) – This stock gained 14% on Friday on speculation of 2010 earnings as well as speculation of a 34% growth in shale reserve in the Appalachian region. I did trade this stock not to long ago in an intisipation of a breakout. The breakout failed and I was stopped out, I took a tiny 2% loss in the initial investment which was no big deal. With this news release it will test that breakout out point once again at $7ish/share. I will watch to see if it can break it and hold, only then will I try it once more for a breakout that could potential run big!

Magellan Petroleum Corporation (MPET) – Got a gap up in Friday with a 13% gain putting this in a technical breakout range. The only problem is I have not found the cause or reason for such a spike in price, no news, no P/R’s, and not even any stock promotion. This causes some suspicion for me. On the other hand since this is a technical breakout it could be a potential buy for a quick day possible swing trade. Although I must find out why it is spiking so much in the first place before I get in so I can calibrate what type of trade it is and how to play it. With this in mind sitting on the sidelines wont be a bad idea until the time is right.

Wave Systems Corp. (WAVX) – This stock has just been on a huge momentum move, almost defined as going parabolic with nothing but green days and no pullbacks yet. This is technically breaking out from $3/share. I can see this running a few more days, this would be a good opportunity to short into this spike as I missed the breakout. Will look to short on the first sell day for a quick gain if it happens.

Interpublic Grp Cos (IPG) – Is right on the cusp of a breakout at $7.50/share. It was up 11% on Friday from financial news as well as the hype around advertising spending increasing. If this stock can break threw it could spike if the price action is right. Potential buy if it can power threw.

Tuesday Morning Corp (TUES) – This one is breaking out nicely, it got a 7% gain on Friday. I am not sure if it is due to the breakout or for the company’s director Robin Selati resignation. I will just watch to see if it will continue its momentum or it will sell off and become a short opportunity.

TASER International Inc. (TASR) – I have been watching this one for a few days as it does not know what it wants to do. There is also controversy surrounding this company which makes it unpredictable as to which direction it is going to go. On the other hand, volume is slightly fading as buyers are leaving and as it is hitting tiny resistance. This could end up being a potential short. Will just sit and watch.

Trade Details Of Integrated Silicon Solution Inc. (ISSI)

Trade Details Of Integrated Silicon Solution Inc. (ISSI)

Well a couple days after I got in it finally happened.

It was only a matter of time before this stock would have a pull back and stop its parabolic move. I got into this stock way to late at $8.40/share which I am disappointed with myself for not jumping in when I wanted to at $6/share when it made its first breakout!

The Trade

I went long on ISSI at $8.40 and as it went up so did my stop. As I new the stock was approaching very heavy resistance I had a feeling that this might be the time where it would pull back. In response to this feeling I moved my stop up quit a bit to lock in some profits. Yesterday was the day it sold off over $1/share, I was stopped out at $8.71/share very early on. I made roughly 4% on this trade, which to me a profit is a profit.

5 Day chart where I bought in and where I was stopped out at.

1 Year Chart

Overall

This is a great stock and with a company that looks to be turning around their business model. As the blew away earnings last Qtr this will still be a great company to invest your money in. Since this stock did do a pull back I will look to go long on it in the near future as this stock can obviously run when it wants to. Congrats to those that got in early when I posted my watch list where I first mentioned this stock and made some killer profits.