Top Trade Ideas for the Week of November 26, 2012: Bonus Idea
- Posted by Greg Harmon
- on November 26th, 2012
Now until December 2nd, the Annual Membership can be had at a Special Fibonacci Discount to the Rolling Monthly Rate. 38.2% off or $667.44. Follow the link here
Here is your Bonus Idea with links to the full Top Ten:
Capital One Financial, Ticker: $COF
Capital One Financial, $COF, has made a ‘V’ recovery off of a bottom at 54.45, on the 200 day Simple Moving Average (SMA). Now at resistance at 59 and the 20 day SMA, a push through has resistance higher at 60.40 and 61.78 with free air above. Support lower comes at 57.45, 56.80 and 55.30 before 54.45. The rising Relative Strength Index (RSI) and the Moving Average Convergence Divergence indicator (MACD) about to cross to positive both support more upside price movement.
Trade Idea 1: Buy the stock on a move over 59 with a stop at 58.
Trade Idea 2: Buy the December 60 Calls (offered at 85 cents late Friday) on the same trigger.
Trade Idea 3: Buy the December 60/62.5 Call Spreads (69 cents) on the same trigger.
Trade Idea 4: Sell the December 55 Put (32 cents) now.
Trade Idea 5: Buy the December 60/62.5 Call Spread selling the December 55 Put (37 cents).
If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.
After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which, coming out of the Thanksgiving holiday sees the markets set up for a run higher into the end of the year. Gold looks higher in its neutral trend while Crude Oil is set to head higher. The US Dollar Index appears biased lower in the uptrend while US Treasuries also look better lower. The Shanghai Composite is biased lower but being mindful of a possible double bottom, while Emerging Markets resume their consolidation under long term resistance. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, and their charts seem to agree, with the lone caution being the recent move higher on decreasing holiday week volume. Let price guide not volume. Use this information as you prepare for the coming week and trade’m well.
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Now until December 2nd, the Annual Membership can be had at a Special Fibonacci Discount to the Rolling Monthly Rate. 38.2% off or $667.44.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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