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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, JPM, EUR/USD Weekly and Monthly Expire - 15-22/04/2013 !!!

    Hi guys,

    The New Top Five Tips of the week from Michael are here. This week started with a lot of turbulence in the commodity markets! Check Michael tips and find out the best trades for the week!

    Originaly posted by Michael Hodges.

    S&P Retreats To Support

    S&P 500
    Call/Put = Call
    Entry = Below 1570
    Expiration = End of the month

    Last week the S&P 500 moved very quickly, so quickly that I was not able to get into my position. I think that there may be others like me waiting to get in now. Placing a Fibonacci Retracement on the hourly charts from the low of 4/5 just below 1550 to the highs of 4/11 just under 1600 is very interesting. The 38% and 50% levels are bracketing the support line drawn from the previous all-time intraday high. This is an ideal level to get into calls for end of the month expiration. That gives the trade two weeks to play out.

    Looking on the daily charts this move is also attractive. A retracement to the 1575 level would bring price back down to a likely support level and an area where the market could move up from. Next support is the 30 day moving average which is around 1557. More daring traders can take bearish trades until supports kicks in but I am looking to buy calls with monthly expiration and a target entry below 1570. Earnings season is just beginning and I think it will be a good one for the bulls.


    Banking On The Banks

    JP Morgan
    Call/Put = Call
    Entry = Below $49.50
    Expiration = End of the week

    I was also unable to get into my JPM trade last week. The market moved right on by in anticipation of bank earnings. So far they are looking good and that is what I expect to see the rest of the week. Today Citigroup reported an nice earnings beat, continuing a trend started Friday with Wells Fargo and JPM. The Banking Index is looking bullish and like it will at least be retesting its recent high near $57.50. As for JPM, it is consolidating above the 30 day EMA with bullish technicals. There is resistance in the near term around $50 and $51, about $1.00 higher than the price as of this writing. This could be a top, a break above that is needed for a longer term bullish outlook but for the week calls are looking pretty good. I am trading calls on JPM with a target entry below $49.50 and an end of the week expiration.

    Euro Meets Resistance

    EUR/USD
    Call/Put = Put
    Entry = Above 1.3000
    Expiration = End of the month

    The Euro has met resistance. The Eur/USD pair has been trending sideways for an entire week now and is losing whatever bullish momentum it had. The weak news from China and the lingering weakness in the greater EU region compared to a strong U.S. economy will send traders into the dollar. I am trading puts on the EUR/USD with a target entry above 1.3000 and an end of the month expiration.

  2. #2
    Legendry Member Michael Hodges's Avatar
    Looks like I'll get my entries this week....

  3. #3
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Technically, Eur/usd weekly trend looks strongly bullish. End of the month expiry depends on mix of fundamental and technical supports.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by M.J View Post
    Technically, Eur/usd weekly trend looks strongly bullish. End of the month expiry depends on mix of fundamental and technical supports.
    You may be right on that one, it seems to be moving up today.

  5. #5
    Specialist Member marvel's Avatar
    Quote Originally Posted by Michael Hodges View Post
    You may be right on that one, it seems to be moving up today.
    Yea, this week eventually EUR/USD trade will be losing one.

  6. #6
    Specialist Member RCox's Avatar
    Quote Originally Posted by marvel View Post
    Yea, this week eventually EUR/USD trade will be losing one.
    Care to elaborate? You have a crystal ball?

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    Care to elaborate? You have a crystal ball?
    yes, did you mean my tip would lose or that the EUR/USD would lose?

  8. #8
    Master Member vinayakm's Avatar
    Put option on the S&P 500 for today

    The leading Economic Indicators Index for March in the US unexpectedly declined by 0.1%. In addition, the Philly Fed Index for April is at 1.3. There was all the big earnings report miss by BAC which had a Q1 EPS of $0.20 vs EST. $0.23.

    Yet, Michael might turn out to be write with his monthly call on the S&P given that there has been generally positive macro data out of the US as of late. Consumer Prices declined 0.2% for the month of March on cheaper gasoline. Furthermore, Housing Starts rose 7% in March to a 1.04M Annual Rate.

  9. #9
    Specialist Member RCox's Avatar
    Mikey Beezy. Geeky, maybe you can grant me this. We are seeing some strange activity in things like gold, and even the dumb ass EUR/USD is making a rally. And yet, a brotha asks, the S&P is making an all-time hizzeezy.

    Brotha Mikey, what is goin on?

  10. #10
    Specialist Member RCox's Avatar
    Thanks BOTS

    I was trhing to send a message to mah fellow ngrah. OK

    ay yo datz NWA nrgah

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