It’s Friday night, I’m laying low and I have a very busy weekend planned. I normally write this report on Saturday but with the busy weekend I figured, let me get it done.<\/p>\n
Before I get to the report I wanted to talk about Technical Analysis. It’s something I do with every trade and now that most readers are getting the gist of what I’m talking about I’m going to get a little deeper. New readers are just going to have to catch up. I didn’t bring up technical analysis before because I didn’t want to scare anyone away. It really sounds more complicated than it is. I will start talking about things I look at to help me make my decisions with my trades. I did start talking about Candlestick Charts before but I’ll be doing a little more. Basically, Technical Analysis is looking at the trends. Trying to figure out where a stock is going by looking where it’s been and how it reacted in certain situations. Candlesticks do just that. They give you a history of what a stock did in the past. Candlesticks are only the beginning! Don’t get worried, it’s really not that difficult. As a matter of fact it’s really quite easy. We’ll start with Candlesticks and move on to other indicators such as Trend Lines and moving averages. I wrote the page on Candlestick Charts and I think it’s all you’ll need to master Candlestick Charts. I also entered a new menu item in the top menu bar. I call it “Technical Analysis<\/strong>.” If you hover your mouse over it, there will be a drop down box, Similar to “Philosophy, Strategy & Risk.” At the moment, the only page is Candlestick Charts<\/a><\/span>. In the near future I’ll be adding new pages of all the technical indicators I use. Maybe I’ll even add a few I don’t use to continue my education. All pages found under “Technical Analysis” will also be found in the sidebar under “Educational.”<\/p>\n This week I made a trade with Micron. The trade worked out great but I normally wouldn’t \u00a0make it because it had big news imminent. They were reporting earnings the next day. The only reason I did was because of an upgrade it received and because of what I saw when looking at the Candlestick Chart,<\/strong> along with the 8 Day moving average<\/strong>, 50 day moving<\/strong> average<\/strong> and the 200 day moving average<\/strong>. This was all part of my technical analysis.<\/p>\n Let’s get into my weekly results.<\/p>\n This week I had only two positions come to a conclusion. One with Gopro (GPRO) and the other with Micron Technology (MU). We’ll look at GPRO first.<\/p>\n GPRO<\/strong><\/span><\/p>\n As you know I’ve been in and out of GPRO for a while now. I’ve been playing this stock like a fine piano, and the music has been great. I’m still in numerous GPRO positions and one of them expired this week. With this expiration I was not assigned on the shares of this Covered Call and that’s fine with me. I own 10,000 shares of the stock but I have two Call expiring next Friday and they are now both Covered Calls. I feel safe! The Call expiring today was a 50 contract $17 Call that I received a $.30 premium for $1500. Today the stock closed at $16.34 so I wasn’t assigned. I keep my stock to cover another Call and I keep the $1500. In the mattress!<\/p>\n