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Similarities Between Silver $SLV and Blackberry $BBRY on Circa Alpha: http://bit.ly/12nHGjJ 3 days ago
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Charts for May 13th, 2013: ($LVS & $NOK) http://bit.ly/10Rh2wW May 12, 2013
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Nathaniel Matherson on Silver Wheaton Call Spread: January 17th, 2013 For updates on this trade please see my blog.
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Mainiero on Apple Analysis: January 15th, 2013 Agree on 10:1 and buyback. How about dividend i...
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Bank Of America Trade Update
I keep my technical analysis simple for the most part. Check out my articles on Seeking Alpha for fundamental and technical analysis! You can follow me on Twitter @CircaAlpha and on Stocktwits @Circa! Click on the charts for a larger view:
Bank of America (BAC)
Yesterday I entered into a short position at $11.51 because shares traded below the 10 day and 20 moving averages and I believed we were in the process of setting a lower high. Today shares were down 0.96% and closed the day at $11.38. I placed my initial target at $11.00 because shares bottomed at this level on January 18th. I now am watching for a break below $11.00 to signal a fill of the December 17th gap to $10.65. I am keeping my stop loss at $11.75 which would invalidate my thesis. However, if shares trade down to trend line support I would be inclined to start a long position. You can view my post from yesterday here.
Disclosure: I am short BAC.
Bank Of America Analysis
I keep my technical analysis simple for the most part. Check out my articles on Seeking Alpha for fundamental and technical analysis! You can follow me on Twitter @CircaAlpha and on Stocktwits @Circa! Click on the charts for a larger view:
Bank of America (BAC)
I entered into a short position today at $11.51 as I believe shares are looking weak. Shares are under performing the S&P 500 today while crossing below the 10 and 20 day moving averages. I believe we are in the process of setting a lower high. The RSI has also turned lower but is far from oversold territory. I am using $11.75 as my stop loss as this would prove me incorrect. I am targeting $11.00 as an initial target.
Disclosure: I am short BAC.
Silver Wheaton Call Spread: January 17th, 2013
Silver has been performing well over the last few days and I am looking at Silver Wheaton (SLW) for a trade. Currently SLW is basing just under a major trend line offering resistance On the last couple moves up to the trend line shares immediately traded lower but on this move shares have remained relatively stable. Also the RSI has broken its downtrend and is currently moving in an upward trend. Below I will outline the call spread I entered this morning.
Trade:
Buy March 37 Call for $1.60
Sell March 39 Call for $0.90
Net Debt of $0.70
On a break above the trend line I believe we will see a continuation and a gap fill to the $39 level before encountering resistance.
(click to enlarge)
Disclosure: I am long SLW, SLV.