Consensus is calling for sideways action in the broad markets (138-145 for SPY, 46-51 for QQQQ) for the next few weeks but that doesn't mean you have to sit on the sidelines. I still like the idea of selling OTM credit spreads on SPY and ETFs, for example, but there are a lot of other opportunities out there on individual stocks. Here are a few thoughts for the short-term...
Devon Energy (DVN) - breakout
AK Steel Corp (AKS) - breakout / recent bounce off 20 day MA
Research in Motion (RIMM) - breakout, possible consolidation before heading higher
Apple Inc (AAPL) - pullback / found support at 20 day MA
Halliburton Inc (HAL) - breakout
Exxon Mobil (XOM) - ascending triangle
Lehman Bros (LEH) - breakdown
Dryships (DRYS) - broke trendline / look to the 20 day MA for support - still very strong, just got overextended.
Showing posts with label OTM calls. Show all posts
Showing posts with label OTM calls. Show all posts
Tuesday, May 20, 2008
Playing both sides
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