LVS: Inverse head & shoulders pattern developing. BIG news about a Macau IPO which would help the casino company raise possbily $2 billion which could help significantly cut it's debt levels. Watching to see it chew through the natural $10 resistance and break above yesterday's close...
MCD: Will watch the stock closely as we approach earnings... consolidating could be a potential volatility squeeze looking for a pop and possibly to unload around .85¢-$1
AAPL: Yesterday bought a few call options @ $2.30 when the stock dropped off a cliff and bottomed out in the red watched it propel into the closing. Sold at the bell @ $2.60 for a nice 2 hour trade. May look to add if stock stays on support but may be too risky carrying into earnings. This will be interesting.
GS: Think GS is going to $200 by the end of the year but will wait til stock pulls back maybe get some Jan 10 calls.
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ReplyDeleteI was partially filled on my MCD calls at .80¢ at the close. I still have a couple of contracts left. I would have preferred to have sold out completely but we'll see how the market anticipates MCD's earnings on Thursday.
ReplyDeleteSold out of the remaining 2 call options at $1 this morning as the stock is quickly approaching $60. The tape was consistently showing ordered filled at the ask.
ReplyDeleteInteresting to see that SBUX announced much better than expected earnings yesterday and watched that stock jump more than 10% after hours.
LVS finally began showing some real strength this morning jumping up above $10 at the opening.
Not sure what to make of the financials after MS disappointing earnings but looks like banks will have problems from here on out through the end of the year especially as the other shoes (commercial and credit card) begin to drop...
Good play on MCD Mark. It sucks that I blogged about it and didn't get in. In the grand scheme of things I should have just ponied up the extra .05 a contract. It trades as high as $1.50 a contract. But hinesight is always 20/20.
ReplyDeleteThought about playing the through earnings on MCD by trying to pick up the calls again at 90¢ especially after what we saw with AAPL. Maybe just a couple... but probably just going to settle for my profit and watch what happens.
ReplyDeleteThinking of unloading some UNG calls I have at $1.40 right now they're around $1.65-1.70. They jumped 30¢ today. Same dilemma as Jason here. These are Oct. 09 calls and I have a strong gut feeling these have way more room to run and tether to back to oil but right now I'd feel more comfortable unloading about 20% of my exposure for the bird in my hand.
LVS just pushed through $11 let's see if it can close above. tracking along the upper BB, approaching the 200SMA...
ReplyDeleteMy LVS Aug 21 09 calls are up around .85¢-.95¢ today from .65¢ on Friday. I'm up almost double from .45¢. I will continually evaluate daily... difficult to make a decision at this point given the stock is approaching the 200 MDA and chewing through the $11.70 resistance level. Like Dominic says the bulls are showing some strong resiliency and it will be interesting to see what happens during the last hour of trading.
ReplyDeleteHey Mark, Here is a summary of what T3 was saying about LVS. Might help with your conviction.
ReplyDeleteGamble on LVS
There are several good trade set-ups this morning as we are still bullish in this market. Las Vegas Sands (LVS) a casino company, has been a favorite that provides good trades when the set-up is right. The stock is close to breaking important levels, and while it is a cheaper, thicker stock, it looks poised for a bounce. Get involved above 11.20 for a 2-3 dollar move.... read more
Closed out my remaining 4 MCD call optoins at .15¢ for about a $100 loss. I have to check but I think I made a small net about $40 on my whole MCD play.
ReplyDeleteThanks Dom for the LVS insight. My T3 trial already expired so I appreciate you confirming my technical thesis... . I think money has been attracting to the casino sector and will continue to do in the short run (fear dissipating from consumer sentiment along with great deals combined with summer vacation relief). I know a lot more of my friends who were petrified during the winter are now returning to their weekend Vegas getaway albeit less frequently and more conservative vices.
Out LVS calls at .65¢ from .45¢ for a .20¢ or 40% gain... hit the sell when the stock hit $11 looks like resistance.
ReplyDeleteCorrection to my overall realized MCD profit was actually a $25.40 loss. Just reviewing my July statement and noticed the discrepancy.
ReplyDelete