This daily posting tracks my covered call plays for October and other base positions.
CNX, COG, CVI drop below the 20-day Donchian channel into bear phase.
I’ve reinterpreted the JNJ trend as down, but it’s an awfully weak down and a close call. It could almost as reasonably be called a sidewinder.
I continue to code SPRD as being in an uptrend, despite a 61.8% retracement from the Sept. 21 peak. I would call it a downtrend if my time horizon were shorter, a week or less.
I’ve added TPX to the list. It has been in the portfolio since I loaded up for October covered calls, but I omitted from my tracking list.
Covered Calls| sym | phase | trend | adx | 200/50 | 40/10 | |
|---|---|---|---|---|---|---|
| BIDU | ||||||
| CAR | ||||||
| CNX | ||||||
| COG | ||||||
| CVI | ||||||
| GMCR | ||||||
| HAL | ||||||
| JNJ | ||||||
| KEG | ||||||
| MCO | ||||||
| NOV | ||||||
| SPRD | ||||||
| TKR | ||||||
| TPX |
Other Base Positions
- EUR/USD, bear.
- SPY, October iron condor bounded by $126 and $111.
| sym | phase | trend | adx | 200/50 | 40/10 | |
|---|---|---|---|---|---|---|
| EUR/USD | ||||||
| SPY |
Key
- phase: 20-day price channel phase, with green for bull trend, red for bear trend and yellow for neutral trend.
- trend: Price direction, green for higher highs and higher lows, red for lower highs and lower lows, yellow for neither.
- adx: Average directional index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 25 and up but below 40, magenta (light purple) for 20 and up but below 25, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, magenta for sunset on the horizon and brown for the earth.)
- 200/50: The moving average cross, green for the 50-day ma above the 200, red for below and yellow for closely aligned.
- 40/10: The moving average cross, green for the 10-day ma above the 40, red for below and yellow for closely aligned.
About my trading methods
Read a detailed explanation of my analysis method, including trading rules. These don't, at present, discuss my covered call strategy, which is under revision.
Disclaimer
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.
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