Seeing some confluence between XOP and energy right now - lets see if they can follow through today/tomorrow.
Thanks to @hitman for the check this morning - need to take a close look at the aggressive filter to make sure I'm not going to inverse of the trend.
Alright - I've got a new horse in the race. At the close I opened up a position of 217 XLB $57.5 5/3 CALLS @ .20. This is again only half of a position since XLE and XOP are looking like a pullback in a longer term uptrend. Chart for reference: (It will be a positive confirmation if I get get an additional buy signal tomorrow where the other blue line is from back at the end of March)
Ugh - I may want to wait to buy until the open of the next day. These XLB calls opened about even and dropped in the 1st hour to around .15 then climbed throughout the day. They're sitting at .33 right now with a high around .36. XLB had a strong day today and hopefully can follow through tomorrow. XLE/XOP are still in the stable - not a very strong day for them today. Hopefully they do not pull back any further or they will drop off of my radar if the longer trend cannot stay intact.
XLB with confirmation signal today. Hopefully it can keep up the momentum! Sell orders are placed @ .40
Out of the 217 calls @ .21 - gain of $217 on this one. Account is sitting at $8,918.71 Still watching XLE and XOP - but they are looking rough this morning. Might interrupt the long term trend.
XLE/XOP are still maintaining their long term trend, but probably won't see anything resolve until later this week or early next week. I picked up 31 XBI $84.5 PUTS @ 1.40 just now based on the below chart. Analysis is on the 3x ETF LABU, but shows that it could be a good short opportunity - thus the XBI PUTS.
XLE long term trend looks to be broken - so I will remove XLE from my stable unless things turn around. XOP is just barely in play - hopefully this stays in play as the bearish ETF is looking very overbought. Just sitting on the sidelines for now. I will post any plays by the end of the day.
No plays for tonight - If I was aggressive UGLD signaled a short, but looks to be at support. Not taking a position at the moment.
Glad I did not pull the trigger on the GLD short - Still refining the aggressive filter. Just need to remind myself that I don't always need to be in a trade... Patience is key But I will keep an eye on GLD since it is still in a longer term downtrend. Pops - if short lived will be sold.
My big watches early next week are the following: DGAZ Long (GAZ PUTS) LABU Long (XBI CALLS) UGLD Long (GLD CALLS) Somewhat of a long shot: EDC Long (EEM and or EFA CALLS) Also still watching DRIP if it starts to head south.
Not sure what I was thinking, but GAZ doesn't have the volume to trade and UGAZ/DGAZ don't have options. UNG would be the target. Early morning look: XBI CALLS - Off the table UGLD CALLS - Off the table EEM/EFA CALLS - Off the table UNG PUTS - Still in play depending on price action will check back later - closer to close.
Oil heading into oversold territory - will be something to watch after tariff man's comments last week. Mid-day look: UGLD CALLS - Still off the table EEM/EFA CALLS - Still off the table Looking positive: XBI CALLS - Moving back to the table (needs a very strong finish on the day to trigger) UNG PUTS - Still in play
UNG/XBI did not make it today. I did buy 200 XLB 5/10 $56.5 CALLS for .22 right at the close I also bought 200 XOP 5/10 $30.50 CALLS for .22 right at the close EDIT: XOP did not actually get filled in time.
Lucked out a little in that my XOP CALLS did not actually get filled at the close. Bailed on XLB this morning between .11 and .09 - took about a 30% loss. Account is now at $6,486.22. Waiting for some new plays to get the account back up!
Took a position this morning in 22 XLE $64 6/14 CALLS @ 1.81. Longer position on this one from my weeklies, but the volatility in the market is too high right now for weeklies.
probably going to take another L on the XLE CALLS. I'm trying to force too many trades. I will be going back to my mainstays and being more patient. Not giving up. This is all the house's money at this point.
