Simon's Swing Trades

[Simonyadig]

Looking to go long (calls) once I get an entry on the 60 minute chart. Both the daily and weekly look very bullish.


Another setup where the daily and weekly are both very bullish, just waiting for the 60 min to let me in.

[MC]

Cool thread....count me in for the show!

[Simonyadig]

This is a strategy that is still unrefined to say the least, but I have to refine it somehow. I missed my entry on CUB calls because of a technical problem with my broker, but issue resolved.

VRTX still doesn't look like a buy based on the 60 minute chart, but I am going to open my position by buying on weakness (on the 60) and hopefully the longer term charts can overwhelm it. This initial position I got Mar 40 calls, which are real high risk and only .3 ask right now. Since there's a good chance they'll expire worthless, I'm picking up $300 worth to keep in line with my risk/money management. The other portion of this trade is going to be if the stock comes down to the $29-$30, I'm going to pick up some MAR 35 or 30 calls, and keep a fairly tight stop on them as not to risk much more on this trade.

We'll see how this plays out.

[Simonyadig]

VRTX is kicking ass today but I'm not trying to capture a small short term move, I'm trying to ride the mid term wave for a nice profit. I love the fact that I'm only tying up $300 in this trade, so it's low risk but I'm in position for a nice reward if I get the move I want.

I've got to be careful because I can see how easy it'd be (with options) to try too many risky plays, but man they are tempting. I picked up some MAR 9 UCO calls, which is the 2x of crude oil. It's risky as hell, especially since the 60 min chart isn't really giving me a buy signal, but I think a bounce based on the daily is inevitable, and today could be forming a reversal doji if oil closes anywhere near where it's at currently. I have a little over a month for the bounce in oil, but if it keeps crashing, that bounce may not do me any good. Little more vested in this trade than last, but still not a great deal.

[Simonyadig]

Here's why I think VRTX will be trending up for at least a while. Head and shoulders breakout on the weekly chart, pulled back to test new support. Golden cross on the daily chart with price trading above all the moving averages. This is a strong looking stock.

[Simonyadig]

Here is a penny setup that I think is worth me posting. Here is a weekly chart for CLSC and you can see that 1.5 year range has been busted through with volume. That is a significant breakout and it has since consolidated and even tested the top of that range on low volume. Last week it closed near the top of that little consolidation range. RSI and MACD are right at breakout points too.



The thing about weekly charts is that when they signal a move, they are usually long term ones and there can be a lot of noise in the day to day movements that can throw you off. I've made the mistake plenty of times of getting in a trade based on the weekly chart, but the daily chart wasn't telling me to get in and I ended up being days or weeks too early. I think the daily chart is at a buy point, but I can't guarantee that. Obviously I can't guarantee anything, but I'm betting this one makes a sustained move in the near future, possibly starting this week.

[Simonyadig]

I sold my VRTX calls for break even. I could have sold them on Friday for a good profit, but didn't. After looking over the charts this weekend, I regretted not taking the quick cash. I still think the overall energy of this is to the upside, but if this pulls back, it may not recover in time for me. The market is too dicey right now for me to have too many long plays, speaking of which, I averaged into my UCO calls today. That's as much exposure to the long side as I want to have right now.

[Simonyadig]

I've been focusing on pennies and my site, but a quick update since I had that UCO trade still open. I actually ended up making a decent profit off of it, but man was it an impulse trade and executed poorly. The daily chart was primed to bounce for oil, but I was worried it would run without me so I jumped in before teh 60 min chart gave me a buy, in fact it was giving me a sell signal. Of course it went down but I did have conviction in the daily to bounce so I averaged into my calls. Instead of getting averaging in with lower strike price calls, I averaged into the same $9 calls. I would have made out much better had I just kept going lower with the strikes. This method is very viable in my opinion, but I learned two good lessons. When I see a swing opportunity on the daily, wait for a buy signal on the 60 min chart. My fear was that by the time the 60 min told me to buy, the premiums would be to high. I finally got a buy signal on the 60 and the premiums were well below my average price, so waiting for some strength makes a lot of sense. Also, when I average in, I am going to get calls with lowe strikes or the higher for puts, instead of averaging into my original, which by that time is seriously OTM.

I also just noticed that CUB has been slammed recently. That one is trading above all of it's major moving averages on the daily and weekly and should bounce real nice once it finds support. I'm definitely watching it to pick up some calls, and yes I will be implementing my most recent lessons.

[Simonyadig]

I mentioned that I've been watching CUB with it's recent free fall and have been considering getting some calls when it eases up. I think this has a huge chance of giving it a bounce. The option spreads on it suck, so I'd have to leave a bid out there and hopefully get filled. I've been eying up the April 22.5s, 25s, or even the 30s. I glanced over at the March contracts and I noticed the 30s were asking for .05 with no bid and the 35s were asking .20 with no bid. I thought those 30s for .05 were too good to pass up, but I figured I wouldn't be able to get too many. I put in an order to buy 25 at that price and the seller only 10 up. I really doubt I get the rest filled, but 10 is cool. It's just a dumb, (real)cheap bet, but maybe we can get a violent bounce in the next few weeks. I'm crossing my fingers that the rest get filled today.

[mookie9920]

Hey simon, the site looks good. It will be interesting to see what happens with your CUB calls.