AXP is one of two financials I like (JPM being the other). At the moment it is sitting on support, with an over all bullish chart (ingore the downtrend… bullish going forward). AXP is suffering from the traditional bear market deliquencies, that IMO, Wall Street has already factored into its price.
I like it here, and think its a good entry point. (Add if 35-36 is seen again, but I think its down side is limited here.)
Nokia lost a lot of global market share… we can all guess as to who it went to. This is good for AAPL.
The market is pretty oversold and sitting on some support, and the Vix is pretty overbought still at a resistance area.
Within this downward trend I still believe the VIX needs to go higher, and to signal the overall bear market to be completed, the Vix needs to be much higher. But within this current down move, the market may consolidate upward.
I covered all my market shorts, and I am just waiting for the market to consolidate from this downward move. Will look to add AAPL Jan 160 Calls today.
Purchased more PWR today. PWR took a sizeable hair cut, and is now around support levels.
Thought this article was interesting regarding CPV (Concentrated Photovoltaic Tech)… It will be of interest if you are in WWAT.OB and want to know more about the competing versions of CPV. (article)
Covered some of my SPY put options as the Vix is overbought approaching SMA resistance, and the market is oversold, but still exposed to the down side incase the capitualtion occurs.
I am hedging this down side with AAPL Jan 160 Calls. AAPL is over sold, and may bounce with an uptick.
Will double down on AAPL at 160, and again if 150-155 is seen.
It is over extended here and hitting some resistance. While I still like the name as the credit crunch eases, I do not want to be too leveraged to financials when I am involved with JPM. I will be trading in and out of AGO, and for now will not consider it a core holding.
The VIX is up while the SP500 is up big.
Could be a repricing of options going on, or some behind the scene mechanics of the index causing this, but I am not liking it, and maintaining market protection.
The market has been acting nice the past few days and the Vix is acting like a bull market is upon us.
Becareful here. Take some profits in JPM and others that have rallied. I have been running around all week entertaining.
I added to my market short in the am.
Continued to add to my ERII position with today’s decline.
