Market Curiosity: Exploring Markets And Systems

June 29, 2011

SLW – long SEP 33 calls at 2.55 (update 1, June 30) +7%

Filed under: +06 to +25%, Long Calls — Tags: — Jeff Fitzmyers @ 8:14 am

Stop loss: price should steadily work higher. If not, get out.

+ Broke the 2.5 month declining trendline.
+ Middle term RSI crossed over longer term RSI and is still rising while shorter term RSI had a dip and is now rising.
+ Gap was filled 2 days ago.
– EMA’s still pointing down. Will probably take some time to work through those.
+ Volume declining into the tentative low shows declining interest.
– An opening gap up today. But it did get filled and price reversed.

+ SLW update from Steve Sjuggerud – get ready to buy. And upcoming stock turning point might not be a high after all…

June 30: Exited position since the 5 min was weak and the mainly the 60 min has significant room to fall if it wants.

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