Four Good Stock Charts

I found a good article on charting stocks I thought some of you would like.  You can find it on Investopedia’s site.  They charted AA, siting support at current levels which is what I said it would do when I sold naked puts on it recently. 

Of the other three they chart, CBG and AHS seem interesting to me.  AHS crossed above its 10 day moving average today and if it holds tomorrow I might have to consider naked puts on it.  CBG is at the bottom of its trend line of higher lows and crossed above its 50 day moving average today after spending a couple of days to the bad side of it, but it hit a brick wall when it met up with the 10 and 20 day moving averages.  I’d like to see it cross above 22.50 for a couple of days and then the July 22.50 naked puts might be a decent trade.

I didn’t trade on anything today as I continue to search for the right entry point on various stocks, such as the ones above.  That doesn’t mean I’m not watching, just being cautious.  To trade for the sake of trading can cost you quickly.  My VIP shares I sold covered calls at the June 30 strike are now trading around 36.  I’m considering buying some in my IRA.  Since I’m about to take a loss on my current shares in my taxable account while I profit on the options I’ve sold, I don’t want to add to that trade.  I’ll just start over in my IRA and write in the money calls to play it a little safer.