Just a few days ago I talked about option activity picking up in the Jan 15 calls in Titanium Metals Corp. (TIE). Friday, prices pushed right into that $15 level, now we will have to see if we can see a breakout above $15.
Alcoa, Inc. (AA) has earning Monday after the bell. So in the chat I will be monitoring order flow in the front month options to see if there is a bias in direction from the bigger money players. I will also be watching Century Aluminum Co. (CENX), which saw large call activity the day of (AA) earnings and was a better performer after the earnings.
Energy Conversion Devices, Inc. (ENER) is coming into a major level on the weekly chart. If prices can push higher, that would be a breakout of a major resistance level.
American Axle & Manufacturing Holdings Inc. (AXL) is a name we jumped into earlier this week after seeing prices break out of an inverse head and shoulder pattern with large February call buying. On Friday, we sold off 60% of our calls and lock in a 85% profit! Prices closed at the highs, which likely means that Monday we could see a gap higher in prices or continued strength. Keep an eye out for red to green price action.
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Follow alongside professional trader Josh Belanger as he follows the footsteps of the smart money traders, while he educates you and points out the trades that have the highest probability of making money.
