MON trade today

I am in MON at 118 today following the pull back.

Dryshippers and FSLR, MON trades

The Dryshippers seem to be at a crossroads. DRYS and EXM broke their trendlines, GNK and DSX are consolidating well. I will be keeping an eye on them.

On another note, i am out of MON and FSLR this morning.

INTC covered call writing

This is something I wanted to do for a while. I wrote my first covered call option today with a 22.5 strike price for Jan 2009 at 1.83. Probably premature, it is at 2.04 currently on the current rally. But the idea behind the option is to hedge the shares i received from my company.

Techincally, INTC is showing support on the 4 year trendline and it is also showing a throwback after breaking the the ascending triangle pattern. The stock has a yield of 2.6% which is higher than or equivalent to the yield of a lot of CD's. My calculations are also showed above. If the call gets exercised, I make nearly twice the profit than I would by selling today. If the call does not get exercised, I will not break even or profit if the stock price is >18.9 and I will be able to write another contract. I have not includes dividends, option writing costs etc in my calculations

Fundamentally, the company is cash rich, has good growth prospects and is just killing AMD. So lets see how it goes.

MON, FSLR trade, Look back at HES

MON is showing a breakout from recent consolidation on relatively high volume with nice OBV. FSLR has pullback on relatively low volume- the OBV is not very strong, but it is worth a shot.



HES finally made a move today, I should have been more patient with it.

MON and FSLR

I am in MON and FSLR this morning.

TWM trade

I was stopped out of TWM for a 2% gain due to the late trading spike on news that the banks have plans to bail out AMBAC. It should give us ample opportunities to find shorts and that is what I plan to do.

My new years resolution has been to become a longer term trader as it is difficult for me to manage shorter term ones. i plan to continue to work on that. Wish me luck!

HES trade update

Another rally quickly put down by the bears, but the close was still confined in the triangle pattern that is developing in the last few weeks and above the 1325 level in SPX. My guess is that we will be testing the January lows after a breakdown.


I got out of HES for a small profit. Very dissappointed in that it did not make a move similar to other sector stocks.

Trade today

I got into HES as a number of oil-related, mining and agro stocks broke into new highs. HES cleared the resistance with decent volume. My target is 100.

Tomorrow's CPI data is important from the Fed rate point of view. All major indices are showing triangle patterns that do not seem like a near term bottom has been hit. There will be a breakout from this pattern based on the CPI data.