| Date | Description | Amount | ROI | aROI | Profit |
| 2017-07-10 | Buy WMT @ $75.00 | -$75.00 | |||
| 2017-07-13 | Sell WMT 7/21 2017 $75.00 Call @ $0.55 | $0.55 | |||
| 2017-07-21 | If assigned at expiration | $75.00 | 0.73% | 24.33% | $0.55 |
| 2017-07-13 | Current value | $75.00 | 0.73% | 89.22% | $0.55 |
| 2017-07-13 | Buy and Hold | $75.05 | 0.07% | -- | $0.05 |
Thursday, July 13, 2017
WMT -- New RSI(2) Play
Started a new position on WMT based on price weakness:
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Randy,
ReplyDeleteLike you, I sometimes apply RSI(2) when I think oversold condition is temporary. So, I don't understand how you applied RSI(2) 'based on price weakness' in this WMT case since WMT has been showing relative price strength the past 2 days:
Closing price Monday: $73.23
Closing price Tuesday: $73.47 (up $.24)
Closing price Wednesday: $73.94 (up $.47)
Your transaction price Thursday: $75.00 (up $1.06) -- many retailers up big on Thursday in sympathy with Target's upbeat forecast
I just checked and based on last 2 days performance, RSI(2) for WMT is now at 93.69.
Could you explain how you use RSI(2)?
This is my current watch list, although it changes frequently:
ReplyDeletehttp://stockcharts.com/freecharts/candleglance.html?IWM,SPY,SPHD,CVX,JNJ,MCD,MMM,NUE,PG,WMT|B|B2|-1
Note that it is sorted by ascending values of RSI(2).
I actually put in a limit order for $75 last Friday, and it filled on the decline on Monday. Then it took me a few days to write the calls because the stock price had dropped too far below $75 for any of the near term $75 calls to be worth selling. So I put in a limit order on the call. It filled on the recent climb.