Tuesday April 22 2014
Markets are apparently done with the short term correction. We expect the typical seasonal May high. It looks like that may record several new highs among large stock indexes.
FB
I purchased FB a few days back and wrote the May 62.5 call options for a premium of 3.3. I bought them back on the move up today. The MACD is suggesting FB wants to move much higher.
Other Trendy Stocks
TSLA, SBUX
TSLA has yet to make a profit but is the darling of the Green Set. It looks to have finished its correction.
SBUX Starbucks at top also has the look of finishing a correction.
PCLN, AMZN
Price line in the main panel is still in an uptrend and finishng a correction.
Amazon at top may well be doing the same, it sports a triple digit price earnings ratio.
QQQ, Apple
the action of these large stocks is powering the QQQs to the upside, Apple at top may have also completed a correction.
How much is left in this? Not a great deal I suspect but the MACD makes an argument that this could power to new highs surprising many.
Note the MACD in alll four graphs is turning up.
XLE
XLE Energy ETF looks to be ahed of itself. MACD is up and the price is way above the MAs.
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