Hello Traders, looking at the chart below I have posted an hourly chart of the /ES on the channel system. I took out all the studies so that you could see a cleaner chart and by doing so you can notice we are consolidating up here in a channel within the system. We are in overbought territory on the daily /ES on my signals, but we are in a market that is running on news and data to the fullest. We had some news come out after hours in the semi sector and that could give us a pop tomorrow. Energy sector is leading the market and retail is looking strong hence my post from yesterday. At the moment I am long some RIMM 55x Puts that I bought at a $1 flat on the intraday rally today. Those closed up nice and have netted me 33% thus far and even could have been 65% which I would have surely sold if I was watching it at my desk. I am also long some RIG 80x May puts, which I am watching close. RIG is looking good for a potential fall, but the continued sector strength has me worried that this could fake a lot of people out. I will be watching those and if I don't like it I will take a loss and let the RIMM puts ride me to what I think has another 50% left to the upside. In anycase, have a goodnight ladies and gents, and enjoy the chart.
No comments:
Post a Comment