CAMARO’s Watchlist for 3/5/14
BAC - Broke above that descending triangle I highlighted last week & closed very strong at the HOD. Looks great for tomorrow as the banks in general showed some leadership today and I believe many are going to see a return back to highs quickly. I am long BAC & targeting a move into the 17s tomorrow/this week. I am in weekly 16.50 calls
GS - Broke above the bear flag it was in today & saw a huge rally. This is another one we highlighted last week for a breakout above the 166ish resistance well today we closed at 168.73 and has minor resistance at 170 but the bigger level comes in at 174 which could get hit this week. Remember markets are at all-time highs but the banks have been lagging until today, the whole sector could be in a store for a big move going forward. I am long GS 170x monthly calls.
XOM - Forming a bull flag following its huge rebound off 90 in early Feb but is looking like it wants to extend even higher back to 98.50 this week. Watch for a move above 97 tomorrow for the bull flag breakout. I like the weekly 97x calls
CAT - Bull flagging on the daily chart right under a big multi-year pivot level at 100. I wanna get into some some options for the next leg higher because I do believe we break 100 soon. I like the monthly 97.50 calls going for 1.10. A gap down tomorrow would be my preferred buying opportunity but if that doesnt happen a break above 97.46 would also trigger the trade. I am long CAT stock.
Full watch list available at The Stock Garage
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