mirkotoscano's  Instablog

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CFA member. In this blog I put my thoughts. Work in an Italian bank in a strategist position (forex and commodities), but my true passion is the stock market.
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Mirko Toscano - market view and trading signals
  • market improves - volumes not exceptional , i try to put the toe in the water 0 comments
    Mar 26, 2011 1:55 PM | about stocks: JBL, MSFT, SPY, MRVL

    This week market gave some good indications. We hadn’t a follow-through day (NASDAQ:FTD), but we saw some improving signal on daily basis. From a weekly point of view, the rebound on major indexes was with volume below average compared with the previous weeks of 2011. On the other hand, the daily candles saw a rise of volumes in positive days compared with negative days.

    This lead me to make some moves, at the moment I am 20% invested in my account.

    This are the trades I opened and closed this week:

    1) MRVL I closed out the bear spread after I saw a rounded base building with a small gain. Options expired in May, but the stock didn’t fall as hoped after earnings so I decided to close it.

    2) I was stopped out from the bear call spread on the SPY. I closed it when I saw that after an encouraging Tuesday…index didn’t drop the day after.

    3) I opened a calendar spread on JBL. Market reacted well at the earning news therefore I decided to try a small position selling the 22 april call and buying a leaps ITM. This is a short term trading that I plan to close in 1 month approximately

    4) I bought a put on Microsoft (NASDAQ:MSFT) on Friday with June expiration. I saw the stock down with market up therefore I decided to give a try on the down-side. It was building a dark-cloud day on Friday, with rising volumes. I placed a 20% stop on that position. If price drop, I could sell an ATM put to create a spread.

    For next week I wait for a FTD to increase further positions otherwise I’ll keep with positions unless stops are met. If market continues to be positive I could open a long position on a stock that has earning surprise.

    Let's see if market next week will show real strenght or if the weakness will return.

    Stocks: JBL, MSFT, SPY, MRVL
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