The Morrisian Indicator

Yesterday in my paper trading account I bought 9 Oct Put options for .40 cents a piece on AKS and 6 October call options for AMD at $1.19 a piece.  When you include FCX I have 3 open positions.  I am about even on FCX but looking to do much better expecially since FCX dropped below its 20 period moving average yesterday and is currently holding barely below it.  Obviously my new positions will take some time to produce results.  They currently show very small losses.

After doing my charting today possible entries to look out for include DNR that is at -.2 on my indicator and is a possible buy if it goes above the center line especially on heavy volume.  Also CBG is looking like a possibility for the purchase of Puts.  It is currently at .2 on my indicator.  I may take a position especially if it drops below the centerline on heavy volume.  Lastly there is NBR, which is showing Bullish tendencies.  It is currently sitting at -.2 on my indicator after briefly breaking through the centerline at a positive .03.  I am waiting for another break above the centerline on high or moderately high volume and above .03 to actually take a position.  The only stocki that had especially high volume on this charting is EXEL but there is no clear buy signal.

Hopefully I will have time to post again tomorrow.

 

EC Morris

 

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