Everybody’s Favorites

Fujisan here.

As Mole requested, I will post several trades and spreads here, and I thought that I should cover everybody’s favorite stocks.

Here is RIMM charts and expected price target.  This may be a quick pull back to 60~65 range and then run up to 85~90.  RIMM has not broke out of this upward trend channel as of yet, but I’m expecting that to happen any time soon, and I have already placed my trade on this one yesterday.

Here is RIMM credit spread.  I picked June 75/65 credit spread (i.e., buy June 75 calls and sell June 65 calls), because of open interests (i.e., call open interests are larger than put open interests, therefore, better fill).  If you like to pick up a debit spread, you can do this with 75/65 put spread as well.

If you like to go with May spread, you need to pick a spread with much narrower range, so I would go with 75/80 May call credit spread.

Here is AAPL chart and target price.  AAPL is going to pull back to the area of 200 SMA and 50 SMA, and then quickly go back up to 140 area (at least that’s my expectation).  AAPL is trying to break out of this upper trend line as we speak and this is the perfect time to put your spread on.

Here is AAPL spread.  Again, I’m going with June 130/115 call credit spread.  If you like to go with May speread, I would go with 135/125 call credit spread, but please be careful.  Time is running out.

Here is GS chart and price projection.  Probaby Keirsten would be a much better person to talk about GS’s price projection, but here is my version of GS price chart.

Here is GS spread for June.  Again, it’s 120/140 credit spread (i.e., Buy 140 June call, sell 120 June call, to create a credit spread).

I was hoping to cover GOOG, but I got to run.  I will post more trades over the weekend.

We just had a rain (again) in Seattle last night but now the sky started to clear out.  I am really jealous of Annamall and Mole – enjoy your wonderful weather out there.  Have a good weekend, everyone!

Fujisan

UPDATE 2:49pm EDT: Boy, am I glad I got into QQQQ spreads and didn’t touch the Spiders:

Really not losing much and I’m probably going to load up more. Note the cross-market divergence between the Cubes and the Spiders. The NDX has been leading this advance and is now showing weakness – that and the non-existing participation in this melt up are factors which lead me to staying short and probably taking on even more.

UPDATE 3:24pm EDT: Six minutes to Happy Hour – this should be very interesting. Do we melt up further or do we fall off the plate? I don’t mind either way – if we go down I’m collecting a toll – if we go up I’ll add more of those juicy spread specials they have on sale today.

UPDATE 3:52pm EDT: Oooops, we just dropped below the VWAP on the NQ – that can’t be good 😉 Three minutes to ‘freaky time’ – I’m getting my party hat.

UPDATE 3:55 pm EDT: Freaky time is upon us. Not looking so shabby right now but don’t think we’re out of the woods just yet. Anyway, here’s my quote of the day:

At the end of the day fund flows talk and TV propaganda walks (and both have a 30 day grace period). — Tyler Durden.