Got EBAY? We had a breakout this week, confirmed today, out of a very extended base.
The major averages nudged up against their highs but did not get there. SP500 needs 1370 and closed at 1364. The Q's and Dow 30 were also up. As were oil, gold, and silver.
Thursday, February 23, 2012
Afternoon Thread
Textbook volatility squueze: Bollinger bands less than 6% apart. Booyah. I haven't been listening to CNBC, but assume a large part of Dow green is attributable to IBM. I expect resistance at 200.
Morning Thread
Gator's Chart of the Day: WLL |
Today (if my math is right) we should see one of those golden cross (50 crossing up through 200 day sma) thingies which puts the chart in a bullish configuration. The stock is not at a good buy point and I would not be surprised to see some profit taking but I don't look for much of a dip. Energy has been strong lately.
I sold 3/4 of my Mar55 calls into the close as a matter of discipline but I will be looking to add to my position. I will likely look for longer dated calls and move to a higher strike.