Market Curiosity: Exploring Markets And Systems

May 31, 2011

PCH looking interesting due to significant late day volume and a low weekly CCI turning up (update 2, June 1)

Filed under: Just Watching — Tags: , , — Jeff Fitzmyers @ 10:45 pm

Not sure, will look at things in the morning, but I might buy some July or Sep 35 calls.

+ Nice volume spike. Often associated with soon-to-rise prices.
+ Weekly CCI low and turing up.
+ Daily CCI turing up and crossed over weekly CCI
– Price has not broken the 2 month down trend line.
+ The daily RSI got rather low. But that by itself does not necessarily mean it’s a good time to be aggressive with calls.

+ Price could have closed much lower but was heavily bought the last 15 minutes of trade.

Related
+ Timber: An Excellent Retirement Vehicle

June 1: Something going on that I don’t understand so standing aside. All that late volume is now underwater. Will those shares be sold?? Covered the short puts too.

June 1 pm: Initial support met rather quickly 🙂 Some more support at about 33.50-ish based on past gaps and price action in Sept and Nov of 2010. Not time to sell calls just yet. Waiting until the daily CCI gets really low. But now the monthly CCI is turning down below the +100 line. Supply could predominate for a while. But undercutting the expansion bar above 35 frn’s/share is the biggest deal.

Leave a Comment »

No comments yet.

RSS feed for comments on this post.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: