Had to close because it started to look really weak. In fact it started looking like a bear flag and gut tells me price wants to retest the breakout area of $16ish. Did make a tiny profit though... of course not enough to brag about.
- Closed @$1.10
- Opened @$0.9, which makes a profit of 22%
- Will likely retest the breakout area of $16ish
- EIA Natural Gas report coming tomorrow... anything can happen. Don't wanna chance it.
- All in cash now. Will see how market reacts the next few days.
- Market pretty extended.
- Opened position UNG June $18 Calls @ $0.9
- Will add if holds >$16.
- Target or exit @ $18 or better...will see.
Mega volume possibly due to short covering or insitution buying. Nat Gas unsdustry been hammered for the longest time. Broke above channel with significant volume. I missed the first moves but entered at consolidation. Will see if bullflag formation manifests itself. If so, will add 2nd position.
After beating analyst estimates, ATVI raced to the next area of resistance at $12. Still have room for more, but it's a Friday and I don't feel like holding anything over the weekend. It will consolidate a bit before jumping higher. I'll wait and see if I get back in or not. Don't intend on chasing price. Here are the the trade details:
- Bought June $11 Calls @ $0.85
- Closed June $11 Calls @ $1.45
- Profit of 70.5% or $0.6 x Number of Contracts
Here's the chart...
Weekly Chart of Activision
- Bought some ATVI June 11 calls with a B/E @ 0.85. Small premium at risk... no worries.
- Price stuck in up channel.
- Money Flow still pointing up, Stochastics flat in the 75 area. Moving Averages flat or pointing up.
- Earnings coming tomorrow aft close (ATVI has $WoW, $CoD, $Guitar Hero) May surprise
... Will see how goes.
