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All Star Charts

Expert technical analysis of financial markets by JC Parets

[Options] When the Ducks (Gold Bugs) Are Quackin, We Feed Them

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The title of this trade plan is a modified take on a famous old floor traders saw. Basically, when experienced floor traders saw the entire pit screaming to hit the same bid or offer, the rule of thumb was to give ’em what they want. Take the other side and close your position when all those same lemmings try to hit the exits at the same time too.

It was the second easiest money on the floor (first was “trading against paper” — which is you and me.)

The trade I’m putting on the board is a loose take on this idea. But instead of fading direction, we’re going to fade the volatility premium priced into Gold options today. [Read more…]

[Options Premium] Buying Shiny Things

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The metals space sure has caught people’s attention in recent weeks. We’ve seen some big moves in Gold and Silver and around the entire complex.

During the recent All Star Charts Monthly Conference call, we discussed our bullish stance on metals over the near term.

With that background, we’ve been watching a mining company who’s stock is setting up nicely for a big move if the stars continue to align. [Read more…]

[Options] It’s Time…

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JC’s been pounding the table to me about Abbott Labs $ABT for a couple weeks now.

I’ve been slow playing it, waiting for some new highs. We’re getting them now. It’s time to get involved.

The base $ABT formed over the last three months is a thing of beauty. And the fact that it’s in a hot sector and printing new all-time highs is only sweetener. Then when you add in the fact that options premiums are at the lowest levels since March and I’m starting to get pretty excited. [Read more…]

[Options Premium] Playing for the Turn

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I don’t prefer getting long stocks that aren’t breaking through to some kind of major new high or an all-time high. But every so often the stars align to play for the end of a major downtrend with some clearly defined levels of support to lean against.

We’re finding that right now in the recently maligned Marijuana stocks space. [Read more…]

[Options] Virtu Signaling

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Sometimes, the generous idea guys at All Star Charts just happen across something that immediately catches their eye and they post it up quick on twitter.

Today Steve Strazza offered this up on Virtu Financial $VIRT:

That base, and the low volatility in options immediately caught my attention too. These are my favorite setups: Blue skies up above coupled with low vol.

So I’m keeping it simple and swinging for the fences. [Read more…]

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