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Last Update: 10.13.14
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6.19.14 Thursday
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[8:33am CT] Entered Calls @ $52.70
[Chart Screened @ 8:33am CT)
Initiating call positions here early this morning. 1st Target: $55.00
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6.26.14 Thursday
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We had to do some waiting but it played out well for us so far. As long as it stayed above this Inverted H&S neckline, benefit of the doubt went to the buyers. Today, we did make a new high and closed well above 6/20’s sell-off candle while forming mini double-bottom formation and filling the gap from 2/19. I don’t see any major resistance level until $55ish level and the big gap to fill at that level. Holding full positions.
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7.2.14 Wednesday
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Nice run last few days. Gap fill at $55.00. I do think we may see some decline once the gap is filled. Still calmly holding full positions since 6/19 open ($52.70).
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7.9.14 Wednesday
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As the old resistance acted as new support (see arrows), Comcast really soared today replenishing the loss. It’s interesting because 8 days of gain was pretty much wiped out in two days (7/7 – 7/8), but in one day (today), those gains were restored. This is why I stick with the big picture and it’s trend. We may able to get new all-time-high by Friday or early next week. Still holding full positions.
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7.14.14 Monday
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This has been very good trade for us as we have been in Calls since 6/19 Thursday ($52.70). With higher lows and higher highs in cultivation/establishment, trend looks to be very solid. If we can take out $55 – $55.50ish, I think $58 might be doable in 2-3 weeks. Still holding full positions.
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7.16.14 Wednesday
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We threw a high-wave doji right on that resistance today which is a warning signal if it confirms next few days. I am guessing if market is down tomorrow, Comcast is also going to come down to possibly about $54.50ish or if market is strong tomorrow, Comcast might able to break and close above this major resistance level. Well, let’s see what’s in store for us next few days. Still holding full positions.
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7.24.14 Thursday
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So we did have about 3 days of pullback since my last update (7/16) after throwing that doji (highlighted) right on that resistance level. Well, we are now back at this $55 resistance level and I think it’s getting ready to for a big breakout if the general market can concur next few days. If we can able to close well above $55.70ish with good looking candle, I do think $58ish is doable possibly within a week or two.
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7.30.14 Wednesday
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Looks like we may get a big breakout soon here if you didn’t get scared from yesterday’s massive shooting-star candle. It’s still bit early to tell but today’s move started to nullify it’s presence (shooting star) and I think one more day of bullish run could totally annihilate it’s presence all together. I’m still shooting for $57-$58ish. Still long.
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8.13.14 Wednesday
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It seems that we did find some support right on that $52.50ish level and moving higher but looks sluggish without confidence (last several days looking at the candles and its sentiment). If the bulls can’t have something (solid bullish candle like 8/8) we may come back down to retest $53-$52.50ish level to retest. Still holding our positions.
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8.18.14 Monday
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We grinded higher! But we are now right on that resistance level. I think if we can close well above $55.50, we are headed for $58-$60. But if we fail from here, we may have to come back down to 10EMA and try again to break to the new highs. Momentum has been there last week and half, but we really need to clear that $55.50ish to really fly. Still long.
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9.05.14 Friday
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We’ve been looking at this pivot level since July that this was the level that Comcast needed to break above for it to really get going. Late August, Comcast started to pullback a little bit, but we’ve been looking at that 20EMA as potential level of support (see red circles), and then we started slowly bouncing. Well, today, bulls really got up and we’ve broken out with strong bullish candle. On any miner-term pullbacks, if the buyers can able to protect price-level above $55-$55.30ish, I think we can get to our next target of $58 and then potentially $60. We’ve been firmly, calmly holding our Call positions since $52.70 (6/19/14).
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9.09.14 Tuesday
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Despite of the weakness of the general market, Comcast manage to have 1.31% run today with solid volume. We are still calmly holding our Call positions since 6/19 ($52.70), and targeting $58ish. If there any pullbacks, $55-$55.50ish level has to be protected from the buyers. Higher lows and higher highs, trend is strong and well-defined. No worries here for the Position Trading bulls.
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9.12.14 Friday
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[1:29pm CT] Closed 70% Call Positions @ $56.97
Chart Screened @ 1:29pm CT
[Chart Screened @ 1:29pm CT]
We have decided to close most of our call positions on Comcast on Friday with satisfying gain on it. This is one of our Position-Trading positions which we held about 3 months. We do think the pullback is imminent, and when we do, $55ish is a level to hold for continuation. Still holding remaining positions.
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10.13.14 Monday
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[2:23pm CT] Remaining Positions Closed @ $52.25
Chart Screened @ 2:23pm CT
We’ve decided to close remaining positions today, and overall, it was a profitable trade as we’ve closed 70% of our positions at around $57. We’ve been holding January ITM calls. Next level of support $49-$50ish.
