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sweetandsour wrote: ↑06 Apr 2023, 08:51

Del wrote: ↑04 Apr 2023, 10:54 XLE is behaving rather ideally today. XLE gapped over the weekend (from 82.8 to 86.3) over the weekend due to OPEC announcement of cutting production.

After a large gap up during an upward trend, we anticipate that the stock will drop briefly toward closing the gap -- then continue its upward trend. XLE's behavior is almost textbook today.

WTI is trading steady above 80 since the announcement, so XLE is not tracking any changes in its fundamental source. This is strictly technical behavior.

I see resistance ahead at 87.5, 90.5, and 93.

I sold some calls at 93 (Apr 28) this morning when XLE was still high. These are not presently covered.
I have covered calls at 86.5 (Apr 14), which are rather likely to be called out due to the OPEC action. If so, I will have to buy back shares to cover the calls at 93, and I want to hold XLE in any case.

And just for fun, I sold a couple of puts at 83.5 (Apr 14) in case it dips down. Or not.

XLE hasn't seen 90 since January, although it has repeatedly tried. I finally sold mine at 86 while I could get out with at least a small profit along with the dividend from last month. The experts say that it won't see 90 or even near there unless something else happens in the world. I think it will gain 90 at some point but I don't want to wait it out with my small play account.
Meanwhile I missed my chance to sell AMD at 99, while holding out for 100, simply because I thought 100 was a nice number, and I really thought it would get there with the volume that was being listed. Anyway, now it sits at about what I paid for it, and I'll have to hold it over the long weekend, which I didn't want to do.
MY AAPL is up today, and I'm watching, tempted to sell and take a profit, but also tempted to hold and see if it goes to 200.

Del wrote: ↑06 Apr 2023, 12:00

sweetandsour wrote: ↑06 Apr 2023, 08:51

Del wrote: ↑04 Apr 2023, 10:54 XLE is behaving rather ideally today. XLE gapped over the weekend (from 82.8 to 86.3) over the weekend due to OPEC announcement of cutting production.

After a large gap up during an upward trend, we anticipate that the stock will drop briefly toward closing the gap -- then continue its upward trend. XLE's behavior is almost textbook today.

WTI is trading steady above 80 since the announcement, so XLE is not tracking any changes in its fundamental source. This is strictly technical behavior.

I see resistance ahead at 87.5, 90.5, and 93.

I sold some calls at 93 (Apr 28) this morning when XLE was still high. These are not presently covered.
I have covered calls at 86.5 (Apr 14), which are rather likely to be called out due to the OPEC action. If so, I will have to buy back shares to cover the calls at 93, and I want to hold XLE in any case.

And just for fun, I sold a couple of puts at 83.5 (Apr 14) in case it dips down. Or not.

XLE hasn't seen 90 since January, although it has repeatedly tried. I finally sold mine at 86 while I could get out with at least a small profit along with the dividend from last month. The experts say that it won't see 90 or even near there unless something else happens in the world. I think it will gain 90 at some point but I don't want to wait it out with my small play account.
Meanwhile I missed my chance to sell AMD at 99, while holding out for 100, simply because I thought 100 was a nice number, and I really thought it would get there with the volume that was being listed. Anyway, now it sits at about what I paid for it, and I'll have to hold it over the long weekend, which I didn't want to do.
MY AAPL is up today, and I'm watching, tempted to sell and take a profit, but also tempted to hold and see if it goes to 200.

I bought some more XLE today at 85.20. Plenty of upward pressure now on world crude oil and XLE. Plus earnings season is coming soon, and bulls are looking hungry for any good news. I am more likely than not to get called out at 86.5 on April 14 (next Friday), so might as well start to accumulate now.

I see cup & handles forming on both SPX and XLE. I want to be holding some uncovered XLE if that breaks out.

This morning's headline news warns that premium Crude Oil could get back up to $100 after OPEC's production cuts. Brent and WTI have been holding high and steady all week. If I have to spend more at the pump, I want to make more in my trading account.

sweetandsour wrote: ↑06 Apr 2023, 18:35 Reports say that crude and gasoline inventories are down, but still higher than the 5 year average for this time of year. Per API:

"The Energy Information Administration on Wednesday reported a 3.7-million-barrel fall in crude oil stockpiles, accompanied by a reduction in gasoline and distillate inventories of 4.1 and 3.6 million barrels, respectively. Despite the decline, crude inventories remain about 4% higher than the five-year average for this time of year."

But I think we can all count on paying more at the pump this summer, when inventories drop more, and the production cuts start being felt. I'll buy XLE back if the price drops low enough, like back to 82 at least.

Del wrote: ↑11 Apr 2023, 21:51 Anheuser-Busch (BUD) is fun to watch this week.

Gapped down 2% over Easter holiday weekend as reports of dramatic sales loss hit the trade news.

Daily Wire gloats: https://www.dailywire.com/news/the-stra ... rs-show-it

sweetandsour wrote: ↑12 Apr 2023, 01:22

Del wrote: ↑11 Apr 2023, 21:51 Anheuser-Busch (BUD) is fun to watch this week.

Gapped down 2% over Easter holiday weekend as reports of dramatic sales loss hit the trade news.

Daily Wire gloats: https://www.dailywire.com/news/the-stra ... rs-show-it

Haven't looked at that one. But I've been keeping an eye on Marathon and Valero, as if I haven't had enough of oil company stocks.

AMD is still the little darling of the analysts, but apparently not of the big boys' computers. It and AAPL have been sideways, but I'm going to the beach today and won't be watching, so they'll probably both make a move today.

Del wrote: ↑12 Apr 2023, 06:01

sweetandsour wrote: ↑12 Apr 2023, 01:22

Del wrote: ↑11 Apr 2023, 21:51 Anheuser-Busch (BUD) is fun to watch this week.

Gapped down 2% over Easter holiday weekend as reports of dramatic sales loss hit the trade news.

Daily Wire gloats: https://www.dailywire.com/news/the-stra ... rs-show-it

Haven't looked at that one. But I've been keeping an eye on Marathon and Valero, as if I haven't had enough of oil company stocks.

AMD is still the little darling of the analysts, but apparently not of the big boys' computers. It and AAPL have been sideways, but I'm going to the beach today and won't be watching, so they'll probably both make a move today.

Inflation news was pretty good this morning.... CPI for March is just a teeny bit less than expected. So market is going to be exuberant this morning, as this kinda confirms the expectation that FED will not increase rates at their May 3 meeting.
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If you want to keep watch with me, I have some calls on XLE at 86.5 that expire on Friday. It's still a coin toss whether or not they will close in-the-money, so I'm not going to spend cash to make any adjustment. I don't care whether or not they get called out, as long as it's close to my strike. I can buy shares back.