Saturday, February 23, 2008

Oops, It's been 2 1/2 years

I took a bit of a break between this and the last post.
So I bought calls on a couple of stocks which may be stupid since it's a bear market but what the hell.

CVX is rising from support around $82.50 and doesn't hit resistance till almost $95 in 4 weeks

GS is rising from $172 and should be able to make it to $188 in 2 weeks.

LEH is rising from support around $53.4 to resistance around $68 in 2 weeks.

XOM is rising from support at $82 to resistance around $95 in 6 weeks.

I got stopped out of LEH on Thursday when everything went down but I stayed in all the rest.

The S&P 500 has been down since January but I think it can go back to 1393 before it turns down again. It is somewhat over sold at the moment but it is moving towards center.