Wednesday, May 13, 2009

UNG - Closed Position

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.

Monday, May 11, 2009

UNG - Channel Breakout

- 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.

Friday, May 08, 2009

ATVI - After Earnings

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...

Wednesday, May 06, 2009

ATVI - Ahead of Earnings

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.