Category: Stock Charts

Chesapeake Energy (CHK) has seen better days, including back up at $60 where I sold two naked puts.  I charted it (below) today to see where I should price some naked calls to try to cut my losses some, but was surprised with the action I decided to take.  The way I chart CHK’s stock, the downside is relatively limited compared to the upside.  The key word here is “relatively”. 

CHK is hitting a possible trend line.  What was the trend …

I’m charting the oil ETF USO again after I last charted USO at the end of May.  I drew a few trend lines then and as our (those who eat and drive) bad luck would have it, the shorter trend line of higher lows held support.  That same line is still holding and the price of oil looks like it still has room to climb.  USO is also an optionable ETF making it an …

The Dow Jones Industrial Average (ticker: $DJI) hasn’t recovered since I wrote about the trend line break two week ago.  In fact a second break occurred on June 26th and now the old support level (floor) is acting as a ceiling as the downward trend continues.

The DJIA’s 10, 20, 50, 100 and even its 200 day moving averages are far above its current trading price.  Each could act as a road block on the …

Last week I charted the Dow Jones and said the break of the trend line was a bearish indicator.  The only hope would be that the $DJI didn’t stay below that line the following two days.  Instead, the $DJI edged lower and we ended up with a horrible Thursday well below that line.  I’ve made my point on the Dow’s direction, so today I turn …

I’ve only made one trade for August options expiration and that was a covered call.  I just can’t find the stocks I want to sell naked puts on.  I have one limit order in to sell naked puts on NVDA again.  It’s been more than 30 days since I took my losses on it and now that the wash rule doesn’t affect me, I’m thinking about getting back in.  I sold at 20 and 22.50 and it’s trading close to 20 …

When I first charted the Dow Jones Industrial Average, aka DJIA (ticker: $DJI) this morning I looked at the three month daily chart to see how bad the short term looked.  I missed charting last week, but would have pointed out the trend line of lower highs would need to break before I turned more bullish on the DJIA.  That line was tested on Tuesday and didn’t break.  Instead, on Friday, the trend line of lower lows broke and even closed …

I left the day on Friday thinking we had a long rough road coming for this market.  Now I’m not sure since I charted the Dow Jones Industrial Average (aka DJIA and ticker $DJI).  The DJIA closed the week at the point of two trend lines that could offer some support. 

Aside from the lines that that offered support on Friday, we can’t say we didn’t have warnings from a technical view earlier.  First in mid-May the Williams %R indicator moved below the …

For the first time in my weekly charting series I’ve decided to chart one of the major Oil ETFs, United States Oil Fund LP (AMEX: USO).  Clearly I should’ve done this earlier and possibly could have made some good trades on it. I think everyone is aware of the rise in oil prices.  The questions that remain are how much is it going to affect our economy and when will it ease. (I’m using “USO” and “oil” interchangeably in this …

Last Friday I bought a couple of calls on the S&P 500 ETF, SPY.  SPY is having a very hard time crossing its 10 and 20 day moving averages and staying above it.  It made it above both lines yesterday and today, but both days fell back below it.  Around my lunch break, while SPY was trading at 140.35, I sold both of my call options on SPY and paid $258.50 with commissions.  That …