Berney; RE:" trading ranges "
>I'm really beginning to enjoy the basing stocks like ALL and BLS. Those little percentage moves really add up...
...what do you make of SC - Shell Transport ADR as a trader from 34~35 to 37~38 ?
>The S&P is up 1.1% thus far for 1999...
TechSpaetzles are up +5% so far; drugz and retail are down -8.8% and -5.9% respectively; EuroTels are about the same as S&P right now.
I bought-to-close short CALL on C @ 1-3/8, +13/16 gain on the dip and sold C stock @ 51-1/16, +1-1/4 on the bounce Friday. Also closed CALL on WMT @ 4-1/4, +1/8 and sold WMT stock @ 79-9/16, +5-5/8; and closed CALL on MO @ 3/8, +1-1/16 but still have MO (and MRK) stock to sell.
I don't like the DRG.X and RLX.X charts, TB - looks like a top, a broken UpTrend and a technical correction (back up to the old trend). FWIW I got a buy signal on SGP+SWY composite chart @ ~105 when SGP hit ~50 and SWY ~55... I'd feel better with SGP @ ~47.5 and SWY @ ~50, though, as the momentum indicator is still bearish since peak 29-DEC. SGP reports WED, 27-JAN and SWY reports THU, 28-JAN.
-Steve |
