Bought BNI call spread

BNI seems to be bouncing off of the 50 day EMA, which was resistance all the way down and now is support.  Bought the October 70/75 call spread for 1.90.

IBM Headfake - possible triple top

I was originally looking for an out on April 16... but I stayed with it. If I exited the trade, I would have been whipsawed like crazy. The trend is still upward. Volume has been increasing since then, but it is up against the highs made on April 9 and April 3, a possible triple top. We will watch tomorrow.

IBM reversal patterns

IBM closed April 9 with a hanging man candlestick, and dropped for the next few days. Then on April 15 it closed with a hammer, and April 16 closed higher (up 2.58, almost 3%) on a little heavier volume. However, we still have the double-top formed April 3 and April 9, and it seems to be having trouble poking its head above the 200 day moving average. We will watch it.

JOYG at Fibonacci resistance?

JOYG went up 2.64, or 11.7%, closing at 25.07. There is Fibonacci resistance at 25.09. It is also at the regression line from March 3. It is above the 50 day moving average.

IBM possible reversal pattern?

IBM closed today at 101.70 with a hanging man candlestick, just above the 200 day moving average. I will be looking for a close above its previous high of 102.22 or we may have a reversal. Volume is also decreasing. The rest of the market went up over 3%; IBM did not participate, with only a 0.5% increase.

It is above the regression line that stretches from November 20, 2008 - the regression line is also parallel to the support line from the same date. Is this significant?

JOYG

Bought JOYG July 30 calls on gap up opening with higher than average volume. 0.76 standard deviations out. Perhaps a little far, this one is kind of a lottery ticket. The 20/80 full stochastic and the 14 day RSI is showing oversold. On Balance Volume is steadily rising. I could not spot any Fibonacci retracements that appeared to work.

IBM made new high

IBM broke above the previous high of 99.60 and above Fibonacci line of 100.43 on increasing volume. Bought IBM July 110 calls at 3.67. The hourly chart of IBM is showing support becoming resistance, and it is banging its head on that line right now.

As of close on April 2, the 110 strike is 0.36 standard deviations out.