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Nick Chiu
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Senior Options Trading Strategist at Optionity, MBA. Our trading approach starts with the fundamentals, then through short-term technical analysis, to finally leverage options trading (with the combination of long and short positions) to achieve favorable risk and reward ratio trading plays. Our... More
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Optionity - specialized in Options Trading
  • Optionity Daily Monitor PCLN, INTC, AAPL, QCOR 0 comments
    Sep 20, 2012 11:24 PM | about stocks: INTC, PCLN, AAPL, MNK

    PCLN traded side-way in the range of $636.55-644.17 and closed with 0.27% loss. The volume of 529.41K is only 42% of the last 30 day average volume of 1.26M. MACD technical indicator maintained its bullish direction. No fundamental change.


    INTC opened higher at beginning and started to trade side-way around 23.4 and began to slide around 1:30 PM to close almost intra-day low of $23.15 with -0.22 point lost. The volume is declining to 39.46M shares, which is very close to the last 30 day average volume of 39.98M. Since the lowering of sales guidance on Sep 7, INTC is trying to stabilize and had been traded side-way in the past 8 trading days. The MACD line show another sign of convergence and need to continue watch MACD convergence before any reversal can be confirm.


    APPL moved side-way thorough out the day and traded within the tight range of $699.57-703.99 and closed at $702.10 with 0.03% gain, very similar to yesterday's pattern. The short-term technical indicators, including RSI(14), STOCH(9,6), and MACD(12,26) are all showing bullish trend, along with the strong buy for the moving averages. AAPL is still hanging above $700 and we will maintain our short-term long view while MACD and other technical indicators are still showing bullish trend..


    QCOR dropped by $-24.17 (-47.84%) with intra-day low reached $22.26 after a news release stated that insurer Aetna (NYSE:AET) would limit coverage of one of the company's two marketed drugs, the H.P. Acthar medicine for multiple sclerosis and infant seizures. With this kind of -47.84% single day pullback, it is time to evaluate this stock and see if our opportunistic option strategy can take advantage of the situation. We will continue to monitor for 2-3 trading days to determine our view.

    Disclosure: I am long INTC, PCLN, AAPL.

    Stocks: INTC, PCLN, AAPL, MNK
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