Carlos Molina :: Swing Trading :: Trading stocks to make money in the market.

Markets up +105 points

Greece getting rescued + jobless claims reversing the trend + U.S. dollar pull back at around 11am = Rally in the Markets across the board.
The Dow Jones closing well above the 10,000 level at 10,144.19 Up 105.81 points, and the S&P above the technical level of 1,075 closing at 1,078.47 Up 10.34 points.
Tomorrow Friday in the markets, we will have an outlook on the retail sales, Michigan Sentiment and Business Inventories before going into a long weekend due to Presidents’ Day. Also, we’re still expecting the details on the bailout for Greece.

So, let’s hope the markets react in an orderly manner and continue to be BULLISH.

Bought GOOG option March $540

This morning, I went ahead and pull the trigger buying Google GOOG March $540 Call, at $12.50 this morning. I’ve been following the chart over the past week, and it looks like Google is stuck in a range between $522 and $542 over the past week. We’ll see if it can break above that level by Friday, and close our position.

Another 30% return on U.S. Steel options

I just went ahead and close my position on U.S. Steel (X) @$3.12 for a quick 1 DAY return of 31%. I bought the contract yesterday @2.38, and some other contracts even lower at $2.32. Once again, the dollar is helping with the volatility on the commodities. Today we’re seeing U.S. Steel up 3.5%+ @$45.97 current stock price. I have also wrote a post regarding U.S. Steel (X), check it out in the Tech Analysis category in the main menu, and tell me what you think. Best wishes for your trading day..!

Markets end lower barely at the 10,000 level

Another day in the markets, another roller coaster. Early in the morning we were down as much as 80+ points, with the easing of the dollar during the afternoon we turn positive, and then as it has been for the year the sellers took charge into the close.

The S&P finished at 1,068 down -2.39 and Dow Jones at 10,038 down 20.26 points.

Opening new X Option Position

Just open another position on U.S. Steel (X) @$2.38 for the March $46 Call. The channel for the past week has been between $42 and $47.50. If Germany and Europe resolves the issue with Greece, we can see the dollar turn around and these commodities stocks go higher. I will be updating you in the technical chart of this stock later in the week.