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The latest from the Options Hunter sessions 04/28/2009
AZO - Has monthly downside divergence, but no where near as clear as the monthly divergence on Celgene (CELG). This means it doesn't fit the drastic move category that we need to have to make money. So, normally go to weekly, but since the monthly doesn't have the pattern, don't need to do it. If you wouldn't invest your last $100 in this ticker then you don't have conviction or belief. Without belief successful outcome is next to impossible. GENZ - less classic in its approach compared to CELG, chart is not as focused and not as clear. CELG - still strong downtrend. IR - perfect weekly with strong upside divergence, paid for trip to Europe with these options. GOLD - no clarity for re-entry, daily needs to run to downside and will resume stated trend. VLO - new high on the MACD, there is weakness but wouldn't do anything with options on this ticker. AMAT - had weekly strong upside divergence in Feb was at low. Confirmed by daily turning and went through 9-10 strike price in a few days. Now Daily chart is just meandering, shouldn't give any strong feeling of conviction to get in on anything. |