CAMARO’s Watchlist for 4/3/14
AIG - Forming a nice wedge pattern on the daily chart that I think is going to get resolved soon and Im betting on it breaking out higher. I think if it gets above 50.66 (last week high) it can see a pop up to 51.70-52.00 . I am long some calls overnight looking for that break tomorrow. Ill use 50.00 as my stop. Im using next weeks exp.
C - Started to perk up into the gap left from that bad news about them failing the stress test a few days ago. I think this gap gets filled as C just put in a big triple bottom that at the moment looks as if it will hold. Looking for C to fill in the gap this week. Ill probably play some 48.50x calls for a trade tomorrow.
AAPL - Unlike how AAPL normally trades AAPL has been fairly quiet to begin the week but yet it is still making progress as it begins to slowly climb higher. It seems as if AAPL in the last year or so begins the week very strong and then ends the week very ugly & slow. This week we seem to have the opposite happening, perhaps this is a signal that we will end the week with some fireworks. There was some pretty big open interest on AAPL 540x weekly calls and today it saw big volume trading nearly 22,000 cons. Perhaps we now see 540 turn into bigger support both from a technical perspective but also due to option activity. I think we see a push to 550 for friday. The general consensus is that AAPL is dead money and wont make a move. I am long AAPL using weekly, April monthly & May monthly options. I’d love to prove the crowd wrong.
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