Rts, I try to buy shares when the RSI 14 is at 30, did so with CHK and CVX lately. Also got TXN below 30, and sold a bunch of Feb 30 puts that were in the money at the time. The RSI 14 on NVLS is around 40 and the stoch is on bottom. Hence I am still waiting for a bounce to sell the calls (so far I feel pretty stupid, and it gets worse by the day).
What has me bent out of shape (polite way to put it) is that my broker botched the roll last Friday. On top of that this downdraft and I am not too happy right now. Unfortunately, NVLS is a huge portion of my holdings and getting 3% for a month or not is a big deal.
Meanwhile, everything that we discussed last year is still in place. NVLS has a super low price to book compared to its peers, less than half that of LRCX. In the past few years NVLS has always made it back up to 40, but I am starting to think that if I get just under 30 I have done well.
Why do you think this sector is so hard to figure out? Like Etch and I have pointed out, the last two times bookings started to move up, the SEC cos had topped out already (which would be right around now). Especially the hard fall of AMAT after the earnings (I expected them to be brought down to just around 20 for expiration, but the did not stop there) has a repeat of that phenom written all over it. That was the reason why I let my AMAT go. Unfortunately, NVLS did not close above strike and I still have the shares. That's why I like the energy sector right now. They behave quite well from a TA standpoint and the move with the underlying price of the product.
The Fed is at it again, and despite the praise for Greenie, he killed the economy in 2000, and they are trying their hardest to repeat that.
Based on the Fed one should sell everything right now and put it into a CD? I guess so. |
