All resistance has been broken, the market is continuing higher and my puts have lost half of their value overnight. In other wirds, business as usual.
As I have stated before, today is a break or make day – it will determine the direction for the coming months. And this direction is pointing higher. Maybe we will get some retracement going into next week (I hope we will) but I am not shorting, but just waiting for the long setups.
Here are some potential plays:
CHK – buy 25-26. target 35 by april opex
CALM – buy at 32-33, target 40-42 by april opex
ZMH – buy at 58-60, target 52-week highs.
AIG – buy 27-28, target 33 next week
RINO – pullback to 22. buy. target 27
Use 3% stop loss.
Hello friend
On intermediate frame we are on an uptrend. However there should be some correction next week. But I think we should try not to go bearish unless very clear signal.
Hi, thanks for a comment. I am not looking for any bearish setups right now. My latest analysis indicates 1230 as a possible high in May (check my new post). As for the near term, I am looking for a small pullback, 10-20 pts. max. What do you trade stocks, futures?