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Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial... More
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  • Here Is The Level To Short The Boeing Company 1 comment
    Aug 20, 2014 12:39 PM | about stocks: BA

    The Boeing Company (NYSE:BA) has bounced almost 10% since it made its pivot low on August 6th, 2014. This has been a fantastic pop as the stock market has surged back towards the all-time highs. If you are looking for the perfect chart level to pull off a swing short, you will find it at $130.00. This level is not only a key pivot high hit back in mid-July but also the daily 200 moving average.

    Gareth Soloway

    Stocks: BA
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    I've been having success swing trading BA Covered Calls @ 130 & 131 strike, expecting and getting enough movement up & down intra-day to Sell and then buy back the options for a profit...betting on the short side! Remember the worst thing that can happen with a covered call is actually having it exercised. Using different expiration dates staying out just under 31 to 40 days, and picking a strike price at or slightly above that 200 day average.


    I've been getting a couple of swing "option" trades in every day for a couple of weeks..squeezing a couple hundred out of the market each time. Here's hoping your chart work is correct...I won't have to rollover any options for fear of losing a few hundred shares to a call.


    Level II Nugget:
    I have discovered a way to nudge the Bid / Ask pricing just enough to shave off more profit each trade. My nudging technique is very effective when the Level II spread is wide. I always use limit orders nudging Bid & Ask until the market computers bite on my intended price. Yep, believe it or not you can manipulate the Bid / Ask to help level the playing field.
    29 Aug 2014, 11:14 PM Reply Like
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