My latest trade !

In my observation, the market is due for a pullback following yesterday decline.
Hence I entered a position to take advantage of the pullback.

I just bought OEX .OEYQN OEX May, 2007 670 put for $3.6.
My target is that the DOW will pullback to 12.990 - 13.000 area.

That's around 73 points move.

Let's see if my stock pick yields another profit this time.

Technorati Tags: options trading, index options trading,online trading,

20% profit in a few hours !

I decided to exit my COO trade despite the price target of $52.
The option .COOEJ COO May 50 Call Options has reach $2.4, a 20% in a few hours.

Definitely not bad ! I traded this one out for quick profit because I don't want to hold anything through weekend.

The market looks undecided, well unless we are turning for consolidation I dare not to put myself in the long side now.

Happy weekend everyone !

Technorati Tags: options trading,online trading,technical analysis

My stock pick for today !

This is my trade for today. I opened a position in Cooper Companies Inc. (COO).
I purchased COO May 50 Call Options COOEJ for $2.

COO has been uptrending since mid March. The stock did a pullback and bounced the 49 line. My price target is COO around $52.

Technorati Tags: options trading,online trading,technical analysis

Dow inching toward the 13.000 area

The USA Stock Market closed mixed yesterday. One of the most notable is the Dow, which managed to go up by 34.54 points. However it was alarmingly up to 12.989 area before retracing down slightly. Many day trader would speculate the Blue Chip stock here to go up with the Dow to touch the 13.000 area.

Although the S&P, Russell and NASDAQ did a side way move, the Dow didn't seem to fond of a side way move. The Dow slowly wants to touch the 13.000 line. From the last Friday rally, The Dow has been making a NEW HIGH everyday.

Since we are already at overbought position, a pullback is LIKELY to happen (although that does not mean it will CERTAINLY happen). We are on a stage of euphoria here, all bad news are nothing and all good news are wonderful news.

The S&P and Nasdaq didn't seem to move in sync with the Dow this week. Both indices continuously making lower high and lower low.

Technorati Tags: options trading, index options trading,technical analysis