FriscoTrades

FriscoTrades Updated 

Thinking another day of chop then possible larger move Friday or early next week. I like that gap above but trend is certainly down. Perhaps we get the gap fill above before another solid leg down ... keeping it level by level. Thoughts ?

FriscoTrades

Was long NFE looking for the breakout to 55 , now looks to have been the climatic top and an opportunity to short. A loss of 38 I think we see more downside. Although there are some S/R and demand zones below they don't appear to be as strong until 27 zone. Will use 10 MA as stop (close above)

FriscoTrades Updated 

Pfizer was a good long for me $$$ now at trend line resistance and as of now showing signs of weakness IMO At the least I think you can scalp a quick retracement here as an idea or reversion to the mean trade back down to the 10MA. I'm long PFE 54 Put for next week, nothing major as it's short time frame and just looking for the pullback/ rejection of this...

FriscoTrades Updated 

ATKR good earnings growth, nice VCP rounded base chart with potential breakout. Seeing good buy volume and testing $120 resistance level now. Can go long shares as options aren't extremely liquid, I'm trading JUL 120/125 debit spread looking for a breakout higher to $125 target. Rejection here could be looking back to 105 zone... my bias is long after a good...

FriscoTrades Updated 

Opened Bull Risk Reversals on ELY , chart looks bullish in my opinion. I sold the $20 put and bought the $30 call JAN opex MACD cross, RSI curl, EMA curl , back above the 22 resistance/support line with good buy volume. I like the R/R here on the long side, another idea would be to open bullish put credit spreads or go long naked calls. Give it some time I...

FriscoTrades Updated 

Mosaic beautiful textbook stage analysis chart. Went into into Stage 2 and ripped from 15-20 zone to a high of 79.28. Was this the "climatic top" and now going into distribution and stage 3 ? As of now, MOS is barely hanging on to 30 week MA and flashing warning signs. Technically it may still see more upside and continue to new highs, however now trading...

FriscoTrades

Another ugly quarter so far with US Equities officially going into a bear market, an abundance of bearish sentiment, and talks of recession. Price is king and with the nice downward channel it looks like we may get a relief rally this week (possibly into next as well) given : - Reversion to the mean with price now well beneath the 30 day moving average - RSI...

FriscoTrades Updated 

Watch for ZIM to close above the strong trendline it's been following since inception, otherwise implications are more downside. Rejected twice now, expecting a move to more downside , first PT $48 I'm long JUN PUTS I was very long ZIM but had to see once broke $70s and stop was triggered.

FriscoTrades

Apple after about 7 straight red weekly candles and RSI approaching over sold, got a nice and technically expected bounce this week. Now what ? Well, best any one can do is play it level to level since my crystal ball is broken. 150 - Big psych level here and prior support, which since broke is now resistance, could easily see rejection here , however given...

FriscoTrades Updated 

ALB big gap up before ER has me suspect... also technically it looks like FEB price action is still in a downward channel, and now there is a juicy gap below :) I like the R/R on a short before ER's move. Small size, picked up a few puts. Can also do bear spreads for less risk exposure.

FriscoTrades

Upstart - not really sure what they do ;0 - but the stock is up 15% today so someone is buying here Bull case - Nice close above 10day MA , is a start to possible upleg for the 76.23 gap fill , currently trading around $50 implying a $26 dollar move. Bear case - a new high is not made and upon rejection lower lows targeting $20 zone or less, implying around a...

FriscoTrades

Highly recommend reading Stan Weinstein's book - Secrets for profiting in Bull and Bear Markets Whole entire book is worth it's weight in gold. He argues one of the best if not the best reversal pattern is the inverse head and shoulders. In my opinion UVV is setup beautifully and has just broken out of the "neckline". Further, stock is healthy - price trading...

FriscoTrades

POST keep on watch for blue sky breakout, I added a starter debit spread 80/85c JUL . Option names aren't extremely liquid so would give it some time as an idea with something ITM (either naked but debit spread is more risk friendly). Made good money on this name after a whale trade , whale is still there buying the JAN 70 calls and looks like they came back...

FriscoTrades

Conoco Phillips nice blue sky breakout after healthy VCP pattern, looking for $120 Magnet I'm long JUN 117 calls up 95% , might sell some calls against it but chart looks strong IMO and looking for more upside first

FriscoTrades

Nice bottoming pattern IMO, looking for breakout with volume over $2.3 to add to starter long. Smells like accumulation

FriscoTrades

Respecting the downward channel support line so far. Started taking profits on some hedges and adding to longs. Break above 403 and will add more risk long. Sold puts this morning as downside may be capped for now but that doesn't mean we necessarily rip up . Tough market to trade that's for sure !

FriscoTrades

Contrarian trade with everyone screaming to buy Oil Energy and Gas right now. Chart looks bearish to me and smells like distribution. Natural Gas ripped yesterday and I took EQT profits and added to XOP JUN puts. $136 first target

FriscoTrades

XOP to me needs to cool off after this monster up leg. Starting to smell like distribution with lower highs. A monster breakout is possible, but even being bullish I'd like a dip to $120 zone before the next up leg. Daily - seeing some bearish divergence on the RSI Weekly - top of channel rejection (so far) with Bearish MACD cross and momo turning...