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Last Update: 6.20.13
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6.13.13 Thursday
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Entered Long Positions @ $876.47
Found support at 50EMA (pink dotted line) on 6/6/13 and had few days of follow through to the upside but met with resistance of $890ish. It pulled back as the market started to have its volatility swings and it was no surprise to see $GOOG pulling back but the question was, can this uptrend support (red) hold?
Once it started to find good support at that level, I’ve decided to go long about 30mins before close. Next task is to break above $890ish resistance and after that $920 then ultimately $980 is what I am eyeing for. But first things first.
Let’s break above $890ish.
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6.18.13 Tuesday
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Broke Out
Broken above $891 resistance level that I have been watching closely since Friday. This was the level that bulls must break before continuing another run up and today we did just that. Next target at around $920.
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6.19.13 Wednesday
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Gravestone Doji!
Gravestone doji appeared with high volume which could be served as early warning signal of a pullback. But as strong as $GOOG is, I think it is holding up well and not cracking like $SPY. If we can hold $890ish level (yellow highlighted) and form some kind of bull continuation/consolidation pattern, I think we can see higher prices. If $890 horizontal support breaks, uptrend support is next level and 50EMA next. If $890 hold, I still think that we can see $920.
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6.20.13 Thursday
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All Positions Closed Out @ $885.45
Everything is breaking down right now.
Kay, looks like stock falling through all support levels.
GLD has broken down below it’s 130-131 support.
AAPL tried to hold at 420 but now below that.
GOOG tried to hold 890 but now below that.
Anything can happen last hour and half of trading day but bulls have to step in or it could get really ugly tomorrow and next week.
I am out of all bullish positions. If things stay the way they are, I will enter a small amount of bearish puts.
Zex_M19 yup im out of the calls now
2kaykim Zex_M19 gap filled? I like to think so. bought some small puts at $910.
Zex_M19 hmm its tough to short at this level especially when the market has been so strong as of late~
2kaykim Zex_M19 Sold my puts this morning. sold too early, would have been nice gain had i held a little longer. made up for apple loss in puts this week. GOOG acting like AAPL last year after that miss. Got a bump up yesterday due to product announcement only to sink today.(still couldn’t break that $910) They are going to revel their new phone next thursday.
I would buy calls on wednesday next week and then dump them on thursday. then buy puts right as the presentation is beginning. phone will disappoint and stock will drop. hold puts until friday. same thing happened with apple every time except once did it go up after presentation. that was the last time before it reached $700. otherwise I am staying out of GOOG until then. easy money. market looks a bit exhausted. could be seeing a summer pull back. Fears of September taper. the ONLY thing that has put a good dent in this market was fears of taper.
I figure goog will hold at 890 (that was a bounce support last friday) but keeps sinking right below that. will see how it closes today. after event next week, goog could retest that 880 low after earnings.
Apple sure to announce new product in sept. will wait until then to buy calls.
Zex_M19 GOOG looks bearish with gap down and follow thru. Possible retest of 50EMA which is very close. I got stopped out of the calls at open this morning. $AAPL holding up well so far but if we dun see follow thru soon, it might start to roll over again
2kaykim dumped my calls. always a nice pop up during day of new product announcements from GOOG or AAPL. easy play.
2kaykim If phone is not game changer, I could see it even going red today. $902 top so far. filled that gap down from July 25. now i hope it retest that 880 again soon.
Zex_M19 2kaykim I Would have to say that $GOOG looks very strong after close today. Above all moving averages again. I say $920 soon
Was going to buy GOOG puts on days when it jumped up but NOT today. If it was up on no news then I would but it has broken 870 and news on Google acquiring NFL games. That’s huge. Just like NFLX popped up yesterday on content news, GOOG is headed higher. Be up tomorrow too I bet. Fed jitters kept it down but now that news is over, GOOG wants to move higher.