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SPDR Gold (GLD): Break DescendingTriangle Support!

Post author:Marubozu
Post published:June 23, 2013

Expect another round of selling of GLD after this Gold ETF broke the $130 support. Price target for this Descending Triangle breakdown is minimum $117. With the help of Fibonacci Fan, GLD may reach this target by Aug 14, 2013.

Current trade setup to short GLD using Vertical Spread.

Strategy: Long Vertical Put Spread
STO GLD Aug13 120 Put
BTO GLD Aug13 125 Put
Breakeven @ Expiry date on Aug16, 2013 = $123.22
Maximum Profit = $323
Maximum Loss = $177
Reward / Risk = 1.82
Cut Loss = GLD goes above $130

Previous Analysis on SPDR GOLD ETF (GLD).

TICK, TICKI & TRIN Explained

Post author:Marubozu
Post published:June 23, 2013

Definition of ‘Tick Index’

TICK

The number of stocks trading on an uptick minus the number of stocks trading on a downtick. Tick index is a popular indicator used by day traders to view the overall market sentiment at a given point in time. By being able to easily see the ratio of “up” stocks to “down” stocks, traders can more easily make quick trading decisions that are dependent upon market movement.

TRIN = Traders Index

TRIN = (advancing issues/declining issues)
(volume of advancing issues/
volume of declining issues)

Citigroup (C): Buy on Dip?

Post author:Marubozu
Post published:April 13, 2013

Citigroup retraced and found support at the uptrend channel support (also the 61.8% FR) at about $42.23. The stock is still trading in an uptrend. If there is no earning surprises on April 15, 2013, C should continue the uptrend. The next immediate resistance is $47.68. 161.8% Fibonacci Target is $56.16.

Option Trade

Strategy: Long Vertical Call Spread (Bullish Trade)
Short C May13 45 Call, Long C May13 41 Call
Entry Price = $43.44
Breakeven Price = $43.43
Max Profit = $624
Max Loss = $976
Reward vs Risk = 64%

Previous Analysis on Citigroup C.