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Bullish Cross Live “ARCHIVE”
All of the old Bullish Cross Live pages are contained within the “Archive.” If you mouse over BC Live on the Nav bar, you will see a drop-down link called the Bullish Cross Live Archive. The Archive contains all of our old posts. A few months ago I was asked to my surprise: “What is an Archive?” So I guess one cannot assume anything. But here is the definition of an “Archive” in case you were wondering. Just keep it a secret if you don’t know what an archive is…
COMPLETED TRADES
None.
MODEL PORTFOLIOS CURRENT POSITIONS
1. The Bullish Cross Apple 2012 10-Bagger Model Portfolio
JANUARY POSITION: (700 contracts) Apple $400 – $420 Call-Spread @ $9.41
APRIL POSITION: (350 contracts) Apple $410 – $430 Call-Spread @ $9.30
JULY POSITION: None
CASH: $327,005.00
Enter Portfolio Here
2. The Bullish Cross 2013 Apple $400 – $500 Model Portfolio
JANUARY 2013: (581 contracts) $400 – $500 Call-Spread @ $17.20
Enter Portfolio Here
3. The Bullish Cross SPY Model Portfolio
None.
Enter Portfolio Here
4. The Bullish Cross Long-Term Portfolio
CASH Position: $292,210.00 (28.13% allocation)
LONG AAPL 1,250 Shares @ $317.18 Cost-Basis (45.89% allocation)
LONG CAT 1,500 Shares @ $95.83 Cost-Basis (10.66% allocation)
LONG QQQ 1,000 Shares @ $53.88 Cost-Basis (5.05% allocation)
SHORT TLT 1,000 Shares @ $113.69 Cost-Basis (12.26% allocation)
Enter Portfolio Here
5. The Bullish Cross Apple 2013 Leg-in Strategy
JANUARY 2013: (240 contracts) Long $450 Calls @ $41.05
Enter Portfolio Here
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KEY POSITIONS ON WATCH
Positions “On Watch” are those position which we are considering. It doesn’t mean we are taking these positions for sure. We are just entertaining the idea.
1. The Bullish Cross Apple 2012 10-Bagger Model Portfolio
700 July $480 – $500 Call-Spread @ $4.50
2. The Bullish Cross Apple 2013 $400 – $500 Model Portfolio
Complete.
3. The Bullish Cross SPY Model Portfolio
None.
4. The Bullish Cross Long-Term Portfolio
Long GLD 650 Shares @ $150.00
Short AMZN 350 Shares @ $250.00
Long NFLX 2,000 Shares @ $50.00
5. The Bullish Cross Apple 2013 Leg-in Strategy
JANUARY 2013: (240 contracts) SHORT $550 Calls @ $26.05
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THE LIVE BLOG 9:30 AM – 4:00 PM
5:31 AM — Today, I’m expecting to see a bit of a relief rally after the beating the market has taken over the past two trading sessions. Yet, I think this relief rally — which could last 1-3 days — is just a snap-back rally ahead of another leg down in this correction. I expect that should test at least the $120.00 level before this is over and we’ll probably see sub-$120 at some point in time. At least that is our expectation right now. During this relief rally we may very well put on another SPY short position. Especially if we see prices move back into the $125 level. That would be cause for a resumption of our SPY short.
On the Apple side of the equation, we had a pretty good bounce off of the $393.00 level which is now proving to be pretty significant support for the stock. As you can see from this chart below, no decisive direction has been taken as of yet. Interestingly enough, however, is the fact that Apple has now been trading in this $380 – $400 for far too long. It has now been over three months and the stock has pretty much gone nowhere. We were here sitting at the $400 level back in July. And we’re still here almost four months later.
That’s typically a sign that we’re probably not going to be hanging around this level for that much longer. The opportunity to get long the stock ahead of the next trading level is coming to an end. I would not be surprised to see a move up into the $450 area by January which would be a lot like what we saw last year when Apple topped out at $320 in October, revisited that level in November and then climbed to $350 between December and January. We could see much of the same this year.
9:26 AM – The futures are pointing to a green open which will kick off the relief rally for the day at least until the fed. We’ll see what happens at that point There is a tendency for the market to rally on the fed and through the fed. But we have seen sharp reversals and sharp rallies based on the fed statement. I think this fed statement has less importance than usual as there aren’t any major built-in expectations.
But we will be watching the rally today and we will be updating with anything major throughout the trading session.
10:40 AM — So far today is a basic recovery day as expected. Nothing special. Apple is starting to underperform the market thought which is not unexpected given the stock has been steadily outperforming for the last several trading sessions. We will continue to watch the markets today and will post when necessary. This is going to be a slow first half of the trading session.
1:22 PM – So today’s action so far is actually rather weak despite the point gains which pretty much confirms that today is merely a recovery day. It’s a pause in the selling pressure. These days tend to be very boring so I’m very sorry that things are very slow in BC Live today. I’m just watching the trading session and preparing material. But right now we’re in the do nothing but watch phase. We’ll get an opportunity very soon.
