27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
As the markets hover on the flat line, some key names are heading towards master levels. International Business Machines Corp. (NYSE: IBM) continues to be one of the strongest stocks in the market. It made a new all time high today at $194.50. At this point, the stock is extended but has its eyes set on $200.00 per share. That will be the next resistance level that matters.
While Google Inc. (NASDAQ: GOOG) pauses today, the daily chart is setting up for another solid move higher. This move should take this technology giant to a double top from early 2011 at $642.96. Once there, a solid pull back is likely.
Goldman Sachs Group, Inc. (NYSE: GS) has one of the prettiest bull flag patterns on the daily chart this trader has seen in years. As long as it does not close below the 20 and 50 moving averages, it is in play. Should the flag pattern play out, the upside target is $110.00.
Another beautiful chart pattern can be seen on James River Coal Company (NASDAQ: JRCC) . This energy play continues to consolidate in a bullish manner above key support. Further upside is likely within days. A move to the upside could take JRCC to $11.30.
These are all key stocks to watch in a market that is in pause mode.
Gareth Soloway
InTheMoneyStocks.com
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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