Nick Chiu's  Instablog

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 Quick Report 01/29/2013 0 comments
    Jan 29, 2013 6:49 PM | about stocks: INTC, SPY, VXX

    Intel (NASDAQ:INTC)

    21.28 (+0.23)

    21.01 - 21.30



    150.66 (+0.59)

    149.67 - 150.85


    iPath S&P 500 VIX Short Term Futures (NYSEARCA:VXX)

    22.86 (-0.71)

    22.68 - 24.08



    INTC opened flat and closed higher with 1.09% gain. The volume of 105.70M was 2.14x of the 30 day average of 49.35M. The MACD (12, 26, 9) continued show a bearish sign but the MACD Histogram increased to -0.104 from -0.12. RSI (14) increased to 51.18 from 47.63 with an increasing buying momentum. INTC is currently trading above its 50-day MA of $20.70 and is still below 200-day MA of $23.70.

    SPY opened lower and closed higher with 0.39% gain. The MACD (12, 26, 9) turned to show a bullish trend on January 2, 2013 and the MACD Histogram decreased slightly to 0.192 from 0.198. SPY is currently trading above its 200-day MA of $138.57 and its 50-day MA of $143.43. RSI (14) increased to 75.63 from 73.79 with an increasing buying momentum. SPY had broken through and closed above its resistance of $147.29, the R2 pivot point, on January 17, 2013.

    Disclosure: I am long INTC.

    Stocks: INTC, SPY, VXX
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