Using “The Dragonâ€? a stock & option screener in OptionsXpress, the following stocks showed some unusual volume activity in the options market. These are just a few of the stocks that were found to have unusual option activity on Monday, April 14th. “The Dragonâ€? is just one of many resource’s that you have access to in your OptionsXpress account. I have found it to be a great way of looking for trade opportunities. XLF- Financial Select SPDR – Shares in the financial sector ETF slid more than 2% on Wachovia’s […]
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Earnings, Retail Sales & M&A
April 11, 2008 in General Information
Good morning. Premarket futures are lower as investors buckle up for what will likely be a difficult earnings season. This morning’s weakness is blamed on Wachovia (WB) who reported an unexpected loss and negative comments by a Goldman Sachs strategist who expects stocks to fall further as earnings come out. On the bright side we have a better than expected retail sales report in March and a little M&A activity as Blockbuster (BBI) made a $1 billion dollar bid for Circuit City (CC) and reports suggest that NorthWest Airlines (NWA) […]
OIL SURGES TO NEW HIGHS…
April 9, 2008 in General Information, Technical Analysis
The government reported a decline in crude inventories and this news sent the United States Oil Fund ETF (USO) to new highs. This report may have sparked today’s move, but a new high is not that surprising given the strong uptrend in oil. After breaking resistance in February, USO consolidated and broken resistance turned into support. Chart 1 shows the ETF successfully testing support around 79–80 in late March and early April. With a gap up on Monday and a strong gain today, USO moved to a new high to […]
A LOT OF METAL AND OIL SERVICE STOCKS ARE BREAKING OUT TO THE UPSIDE
April 4, 2008 in General Information, Technical Analysis
INDUSTRIAL METAL BREAKOUTS… Three of the top performing material stocks are tied to industrial metals. The strongest is US Steel which just recently broke out to a new record high. Right behind it is Freeport McMoran Copper & Gold (which is tied more to copper than gold). FCX is breaking through a “neckline” drawn over its December/February highs. Its relative strength ratio is near a new high as well.  Alcoa moving up to challenge overhead resistance near 40. A decisive close over that chart barrier would be a bullish breakout […]