MON, ADBE & MRO Trend Lines

I’m long Monsanto (MON), Adobe (ADBE) and Marathon Oil (MRO) in my IRA and taxable account.  I’ve covered none with a call yet.  I thought all were about to rebound from their trend lines, but looking back I see where I rushed into MON and could have timed the other two a little better.

MON has taken a beating today, down nearly 4%.  Not to worry, MON has stopped its nose dive on its uptrending line of higher lows.  I think this could be a really good time to get in MON.  The only negative press I could find is that four of their patents were rejected.  They say it’s not a big deal to their business.  I’m hoping they’re telling the truth.  It’s a win-win for me.  If they are right I make money, if they are wrong we all have a better chance of having better foods that aren’t dominated by GMOs.

MRO was assigned to me from my naked puts and tends to bounce around a lot anyway.  This made it good for premiums, but I should have gotten out on expiration day when I was ahead by a few hundred dollars.  Just after expiration MRO broke through the trend line I was following, but today it found it’s footing and came back above its longer-term trend line that I was going to use as my exit line if it stayed below.  If tomorrow continues in the right direction through the close, MRO could be a great buy.  I’m staying long at least until I see how it reacts to its downward trending line of lower highs since mid-June.  I’m not too worried about this line yet though.

ADBE is going in the right direction still, although slightly down from where I jumped in.  I think ADBE will continue its uptrend.  Keep an eye on it, it could keep climbing along its trend line for a while.

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