That's how many calendar days remain before the final day of trading in my May options holdings.
I'm exposed to risk with bull positions on these issues: CIEN, GE, QQQQ, UNP. If they retrace significantly -- no need for 100% -- then I'll profit. If not, I'll face some losses.
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| CIEN$17.74 bull opt | ||||||||
| GE $17.83 bull opt | ||||||||
| JNK $38.66 div | ||||||||
| MCO $24.85 zombie | ||||||||
| NLY $16.06 div | ||||||||
| PALM $5.80 spec sit | ||||||||
| QQQQ $48.02 bull opt | ||||||||
| UNP $73.76 bull opt |
My strategy during this market break has been to treat it as a panic, something ephemeral. In doing so, I can either be accused of wishful thinking in neglect of the bottom line, or as a stalwart visionary who keeps his head sensibly on his shoulders while others are losing theirs.
As always, expiration day tells whether a trader is a hero or a fool.
My options, in common with the broad indicators, are pausing this morning. CIEN and GE have a downward spin; QQQQ and UNP are more neutral.
The downward moves of the last few days were countertrend, and so I would expect the pause to be followed by a resumption of movement in the direction of the larger trend.
Among stock holdings, MCO is showing a new bull signal on the parabolic sar. These shares are left over from a series of covered calls that expired with the stock left in my hands. I can sell more calls against the position if it rises to the $29 level or greater.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
My Holdings
May expiry:
- CIEN, bull call spread, c18/-c19
- GE, bull call spread, c18/-c19
- QQQQ, bull call spread, c49/-c50
- UNP, bull call spread, c75/-c80
Dividend shares: JNK, NLY
Special situation: PALM
Zombie shares: MCO
Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic
About the glance: The colors indicate the state of each signal.
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
Today on Private Trader
- Today's Scan
- ABT Watch
- Forex
- Morningline: Stocks and Bonds
- Morningline: Other Indicators
- Morningline: Holdings
- Almanac
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