Lot of the times, all over the internet, I see people talk about a particular trade, but then never mention it again. People doesn't seem to care either, since our attention span is so low! I have talked about an option trade in ADBE on last Monday the 23rd, here is the post I am talking about. I like to post an update on that trade.
As you can see from the two charts, the bullish Oct 18 call vertical (525/550) that I created is currently losing money. The market is slightly up during the last 6 trading days, so ADBE clearly underperformed the market during this time. I said at that time, that the chart looks messy! Well it still looks messy, here is a better view.
Thinkorswim desktop typically have a lot more feature and a cleaner interface. I like today's candle and the oversold stochastic. Let us see what happens in the next couple of days. I will be travelling, so I will have a lot of free time. Yeah, it works the opposite for me. I get a lot more free and personal time when I travel, which is rather nice!
That is the Nasdaq composite index with the box showing the last 6 trading days. However, I am not really worried. I see the 500-506 area to be good support, and ADBE did close up today on average volume. I have till October 18 and a lot can happen during that time. My position is currently down $500 or so, if the support area gets broken during the next few days, I plan on closing the trade at a loss.
Today AAPL broke out from its near term consolidation, that is positive. Full disclosure, I have a lot of AAPL in my portfolio. October is usually a good month for stocks, so let us see how the trade unfolds. Here is that beautiful apple :)
