Bullish stocks near support

[steelman]

Hi everyone, I hope all of you are doing great and making tons of money. I brought my family on vacation to CA, Santa Barbara and just finished 2 days at Disneyland and California Adventure. I have been out of the loop for about a week. I was able to sell my calls in AXTI the other day, Monday actually. I had bought $10 Feb calls. 133% gain in 5 weeks.

I took some of that profit and bought TQNT $14 March calls and I bought $$$Mr. Market's$$$ new pick EBIX, $25 March calls. I still have a few more days of sunshine before heading home to the cold and I heard we had a foot of snow on the ground yesterday.

[steelman]

Trying to catch up with everything at work after being gone for a week.

I sold half of my TQNT March $14 call options on Monday at $1.25 from a purchase of .60 on Jan 28th. I am on the house money now. This thing is going higher. I will ride with the other half of my investment and if it pulls back will put these recent profits back in.

Also, my Feb $14 call has come back during this run. I have a limit order in to sell at $1.05, last trade was .99. My purchase price was .67 on 1/6/11. I hope this fills soon. That's all I have done recently except for adding $$$MM's$$$ EBIX $25 March calls.

[steelman]

Alright, I have to run. Have to be at a coaches clinic in 30 mins. Just a quick update.

Yesterday I got back into CCME. After my profit on the last trade of 133% or so, it looked like a good time to get back in. I bought The March $17.50 calls.

Today I bought CVH March $31 calls. That's it for now. I hope everyone has an incredible weekend!!!!

[steelman]

Getting smacked the yesterday and today. Does anyone think we were do for a correction or is this all on the middle east? Thanks for your input.

[riverbabe]

Getting smacked the yesterday and today. Does anyone think we were do for a correction or is this all on the middle east? Thanks for your input.

Steel, this is from a paid subscriber site: www.stocktiming.com
I have deleted portions to avoid copyright infringement. This site is worth every penny it costs and more. Many here are familiar with Marty Chenard. He advises institutions and is the best technical expert I know.

Update for Friday, February 25th. ...

1. Special Chart 2, Short Term VIX: This new chart shows the short term view of the VIX during the past 5 days. Note the support at 20 on the chart. If the VIX can close below 20 today, then it has a chance to drop into the 17's which would be market positive. However, if it closes above 21, then the risk for Monday morning could be very high.

2. Cautionary Note: The current VIX spike is "event" related due to the Libyan revolt. There is talk of a possible Libyan massacre today with would be a real negative should that occur because it could end up meaning U.S. intervention. The other possible negative event that needs to be watched is the Saudi "Day of Rage" that some are trying to initiate for March 11th. If this happens or develops the appearance that it will happen, then the markets are likely to react very badly.

3. Institutional Investors were in low Distribution yesterday. Institutional Selling had another Up tick which is becoming a Danger condition that needs Institutional selling to stop rising or the market will go lower.

4. Alert ... please read: ...The SPY is now in a Caution Condition and will move to a Danger condition if its 30 Day RSI goes below 55, or the C-RSI goes below 5 at the close today.]

5. So, bottom line, risk levels are much higher and in a Dangerous condition. We need the market to hold today, the VIX to close below 20, and for the NYSE DVOL to not spike up or we could move from Danger to a Sell condition.

6. ...If we lose the last indicator that is holding out today, the Fractal model will initiate a sell. ........

[steelman]

Thanks River, that is great. Phil Town always talks about the VIX as well. It looks like it's about $19.08 right now, down 10% so far. So that sounds like a good thing for longs. I am going to have a look at that site.

[steelman]

Update

I just bought some March $25 calls in TIBX thanks to $$$MM's$$$ new pick. I hope to ride a little MOMO from the last 2 days for 1-3 weeks on this play.

[steelman]

Nog

Just had an order fill for NOG. I bought some April $32 calls. NOG just hit a 52 week high, it fits Canslim criteria. Stochastic just turned UP and it's above 50, MACD crossed above 0 yesterday and it's trading above 30 day MA. This thing will go UP from here unless Middle east crap keeps getting worse. Happy Friday everyone and have a great weekend!!

[steelman]

I just bought some March $25 calls in TIBX thanks to $$$MM's$$$ new pick. I hope to ride a little MOMO from the last 2 days for 1-3 weeks on this play.

Just bought some TIBX May $26 calls about 5 mins ago.

[steelman]

Quick update

Here are my current positions:

TQNT March $14 calls
EBIX March $25 calls
CVH March $31 calls
TIBX March $25 calls
TIBX May $26 calls
NOG April $32 calls.

[steelman]

Slv

I just added some SLV March $34 calls for a short term trade. The charts say the buy was around 2/3 or 2/4 about $27 ish. I don't like chasing but this one seems to keep moving up.

Price of oil is still rising, so Sliver should do well. I am going to try and make a quick 50% over the next week or 2. We need SLV to go up about a buck over this time frame. Wish me luck. Actually, since many of us have gold and silver stocks, best of luck and MOMO to all of us.

[steelman]

Ebix

EBIX is on Fire!! It hit a 52 week high today at $29.08 and closed at $28.71 which is it's 52 week high closing. Oh yeah, Did anyone see the crapload of volume that came into this beast the last 4 days!?!?! Where is this beast headed?

[steelman]

EBIX sold

Well, today was a little bittersweet. I sold my March $25 Calls in EBIX. They were over $4 last week and it looked like this morning they were trading in the $4.30 to $4.40 range.

I sold them at the end of today for $3.50. I just don't know what this middle east crap is going to do to our markets. If I tried to hang in and get back over the $4.00 price and it tanked I would be so mad at myself for not taking profit. Plus time decay should start kicking in this week. The good news is that I bought on 2/7/11 for $1.10. 30 day trade. I still like the stock, the chart looks good but with options, you have to ride the MOMO!

[wooish]

Congrats, that's over 200%, take it and run. Past two days I saw my 60% profit on TIBX calls vanished but I'm not regretting yet as I'm holding for 100% gain.

[steelman]

Wooish,

I think TIBX is getting ready to shoot up, according to the chart. I think it would have already done so but the oil spike has slowed our overall markets up.

I am rooting for you!!! If you get yours, I will get mine as well. I have March $25 Calls and May $26 calls. I am sure we can get our Doubles!!