3 results for tag: XLE


Expiration Friday

We have a number of positions that need adjustment today. No Apple. We are out for now. WalMart - WMT continues to be sold heavily, but the chart tells a different story. Walmart is in a strong bull market so we let the chart, NOT the market, tell us what to do. Today we buy. (Subscribers get trade details as the orders are entered). We also need to roll our short puts that expire today. We are rolling the 84 puts, the 85 puts, and maybe the 86 puts. Both the 84 and 85 are close enough to the current price of $83.82 that we can roll for enough money to meet our criteria. The 86 strike - maybe not. We may let those shares be put to us and sell ...

Market Movement

We were in and out of Apple again. The portfolio has no position today, yearly profits in AAPL are now $12,594. We had sold some weekly 110 puts and yesterday we bought them for 5 cents each to close the position. Now, we wait for a day when Apple is down a few dollars. At that time. we will look for a high-probability strike and sell some puts. Until that happens, we stay out of this symbol. As a broker friend of mine once said "Patience produces profits". He was right, The WalMart position has taken a hit as WMT has moved lower over the past few days. Our charting system shows Walmart to be in a strong Bull market - so down days are welcome ...

XLE – Oil price drop

XLE has been something of a problem with the rapid decline of oil prices. We are down over $4100 on the year - but we were down $6200 on Friday after XLE's price collapsed. At DPO we have traded the XLE for a very long time and we have learned that it will, at times, swing wildly while moving way too high and way too low. It's now clearly in a bear market but last Friday's move was one of those exaggerated ETF swings that sometimes happen  - and it was multiplied by the holiday schedule and lack of liquidity. We fully expect XLE to settle down quickly and then slowly recover to some higher level -  while we are trying to stay net-short because of ...