Spike's Scientific Stock Analysis

[B.J]

You are correct my friend. When I did the channel from that point it didn't give me the channel long, but now I just redid it and it shows it clear as a bell. Minor channel, but it still counts as a channel long. Vector is clearly bullish at close. So bulls have a chance next week. Below today's low and 'she's a not so good' as my Italian friend says

That's pretty funny Spike. I say that because after you posted that this was not a channel long, I went back to stockcharts checked it again, and there was no channel long, and said, "doggone it, Spike's right, and I'm wrong again" It must have fluctuated again before close.

Interesting how those channels fluctuate during the course of the day (obviously makes sense though). I stock i recently bought, ERS had a channel turn up midday, but lost it.

[Websman]

Spike,
Take a look at MCZ. This might be a good one.

[Runner]

I was thinking the QQQQ’s might be setting up for a short play, but it is in a tricky spot right now.

[spikefader]

Yeah B.J, they do change at the drop of a hat. This is why the closing value is the important value. Intraday it changes depending on the volatility...but once the closing channel shows itself, it can't be erased.

Webs: looks like it has potential....just needs to do a little more for me.

Runner. The way it reacted to the lows on Friday has me thinking I wouldn't be surprised if we sell for several days. But I'm still bullish while I see what I see.

[New-born baby]

Options

Spike,

I need an expert's opinion. Is this right?

With Interactive Brokers, if I sell a call for a stock, I am giving someone the right to buy my stock at the strike price. IB charges a dollar to list the call, whether anyone buys the call or not. If someone buys the call, I receive the price. If not, I wasted a dollar. Is this how IB works?

[noshadyldy]

Liberty Media

Found this by accident. Look at that base!!!! What do you think, Spike?

Ticker = L

[spikefader]

Spike,

I need an expert's opinion. Is this right?

With Interactive Brokers, if I sell a call for a stock, I am giving someone the right to buy my stock at the strike price. IB charges a dollar to list the call, whether anyone buys the call or not. If someone buys the call, I receive the price. If not, I wasted a dollar. Is this how IB works?

Here's the info on cancellation fees for options. Note the difference if you route SMART or direct to a SPECIFIC exchange. There is the cancellation fee, but you get credits for executed trades. If you don't have any executed trades, you don't get any credits, so you wear the full $1.20 cancellation fee per order. If the trade goes through, you pay $1.00 each way for commission.

http://www.interactivebrokers.com/en/accounts/fees/cancelModifyExamples.php

[New-born baby]

Thanks!

Spike,
I sold the AUG $35 calls on FRO for $9.20. I anticipate a price drop on FRO tomorrow, as it goes ex-dividend June 8. FRO pays a $3.10 divy this quarter, for a 28% yearly avg. Not too bad, eh? I figured I'd get this quarter's dividend and risk having the stock called away between now and August. If it isn't called away, I'll still have my divy and the bonus $919. Not a bad plan, in my mind. (We'll see how it works out).

My question: when do I receive my $920 ($919 actually) from IB? My account says I sold them; but the money has not been credited to my account. It is my first option trade, so I thought I'd best ask the expert.

Here's a look at my trades record (sorry for the black outs):


Tell me if I've messed up, please.

Thank you!

[spikefader]

Found this by accident. Look at that base!!!! What do you think, Spike?

Ticker = L

Got potential......Channel turn up this week. Target of 13.00ish once it can get over channel short resistance of 10.71. Wait for that, and enter long on some weakness - perhaps channel long. Yell at me if it sets up.

[spikefader]

Newborn,
I understand the amount is credited the next day, but to be sure you'll have to ask someone from IB.

Thank you for the compliment about being an expert, but I ain't no expert with options - I'm just a hacker I don't sell options, even covered calls believe it or not...I just buy 'em, although covered calls as you are doing is a great play in the right conditions. I've read several places over the years that people are successful doing covered call writing. One day I might try it Maybe your posts will help me learn

Best to ya.

[New-born baby]

I can't believe it. I just can't.

I don't sell options, even covered calls believe it or not...I just buy 'em, although covered calls as you are doing is a great play in the right conditions. I've read several places over the years that people are successful doing covered call writing. One day I might try it Maybe your posts will help me learn

Best to ya.

Thank you Spike. I was concerned that I had hit a wrong button on when I didn't see my account credited for the $920. (I sure have no use for buying a call on FRO!).

But I can't believe that the SPIKE doesn't sell covered calls. (Of course, this is my first option play, so what do I know about options?). If I can squeak through June 13 without my FRO being called away, I'll be sitting pretty--I'll have the divy no matter what happens.

Many thanks!

[mystiky]

UTSI moving up quite strong...

Yep, today's action gives us an upper channel bust drawn from the low, which is extremely bullish action. In the gap now, so expect it to try to fill. The one thing it faces as a test is the gap down projection (i.e. 2 x the gap distance). If you take it, protect the position well.

Looks like UTSI is continuing the trend upwards, and I was able to add some more today at 7.97.

To me, it still looks like 9.21 will be a tough cookie to break above (the 50-day moving) avg. But in case it does, if it was to touch 9.80's and "fill-the-gap", is that usually a bullish sign, or is it pretty much saying that old resistance is going to charge it backdown?

Any further thoughts on UTSI will be appreciated!

I really feel that it has a good chance to run because it really has too many shorts, pretty much everyone is down and out on them and it is bouncing on very good volume.

[spikefader]

I can't believe it. I just can't.

hehe and I can't believe you're selling calls for FRO!!!! lol

[spikefader]

Looks like UTSI is continuing the trend upwards, and I was able to add some more today at 7.97.

To me, it still looks like 9.21 will be a tough cookie to break above (the 50-day moving) avg. But in case it does, if it was to touch 9.80's and "fill-the-gap", is that usually a bullish sign, or is it pretty much saying that old resistance is going to charge it backdown?

Any further thoughts on UTSI will be appreciated!

I really feel that it has a good chance to run because it really has too many shorts, pretty much everyone is down and out on them and it is bouncing on very good volume.

On gaps, always remember: Gaps resist. Gap fills resist. Smart traders sell at resistance. Now, that's a general statement, and you may well have a target in mind and you'll ignore the resistance. But if you're looking defensively at it, there's a reason to sell it at current prices, and certainly at the gap fill. Tough spot for bulls at the moment. Here are my thoughts.

[New-born baby]

$45 resistance

hehe and I can't believe you're selling calls for FRO!!!! lol

FRO has bounced off the $45 line several times. But of course, knowing my luck-- tomorrow and she charges through that line by $10 . . . .

The fact is that the volume on the $35 AUG calls for FRO today was only 2: me and someone else. When they took my call, a bright flashing light hit my screen, and it read: "WARNING: TWO FOOLS JUST MET RIGHT HERE."