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Hello all!
I've been having some serious technical difficulties! Sorry I've been MIA I'm updating via phone so I'm gunna keep it short!
Apple
Last week I bought one 670 apple call. I bought it before they came out with earnings unfortunately they missed their earnings! The stock dropped 30 bucks after hours. I am still holding the option... It has about 10 days to expire, since earnings it bounced back from its loss and hope it keeps climbing.
Google
Google was really a winner last week. I bought two 650 calls... There was some resistance at the 615 level but once it broke through that level it was all support! I got out of it Friday with a $550.00 profit. Remember never lose taking a profit.
What is market resistance?
The price at which a stock or market can trade, but not exceed, for a certain period yof time. - investopedia
Basically consider it like a ceiling every time a stock gets to a certain level it has trouble going past it. (resistance level) once it passes that level it climbs! Now it's trading at about $628
What is market support?
The price level which, historically, a stock has had difficulty falling below. It is thought of as the level at which a lot of buyers tend to enter the stock. - investopedia
This is kind of like the floor.
You can analyze charts to see previous trendlines of support or resistance and make decisions based on your findings... This one was a freebie :)
Monday I bought 6 $115 September Goldman Sachs calls. GS moves slower and has a little bad press but all it takes is some good news for the price to go up.
That's all I have for now !
Brit
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