EK - HD update

Well, EK broke out of a nice base on HUGE volume.  It has run into minor resistance at 7.50.  Once it overcomes that resistance, next stop should be around 13-15 dollars before long.  If they surprise again on the earnings front again, watch out.  This could be a nice doubler in stock or a several hundred percenter in options if it continues to shine.  I doubled my position in this on Thursday.  What a nice cup and handle formation and breakout on highest volume in the last year. Save this picture folks, this is a superb example of a classic cup and handle formation (and this handle did not dip much).  Earnings are scheduled to be announced on April 29, 2010

Home Depot (HD) is performing as expected so far.  The HD May 33 calls are already up to 1.03 bid - 1.05 ask for a nice return.  Hope to hit my sell order on 1/2 my position at 1.30 in a day or two.  Then wait to see if my price target of 38 is hit.

CSTR.  Heard a rumor that they might be considering entering the on-line video market (competing with NetFlix).  I have a lot of respect for NetFlix and not sure if CSTR can pull it off.  But the CoinStar management has been doing a very good job so far of executing so I would watch it closely.  In the meantime, I will keep an eye on the stock and see where it goes.  It is almost to the point where I said I would take profits, but let's see if I stick to the plan (greed vs fear).

GLW - Is Corning (GLW) making a cup and handle formation or a double top.  Time will tell.  I sold out around 20 and now the stock is around 19.50 or so.  Keep a close eye on this.  They make the glass for a lot of tvs that are sold and have been on a hot run.  I would not be surprised to see this turn into a cup and handle formation.  If it breaks out, I will probably try to find a reasonably priced option on this stock.

Remember though that this market run could end in the next 3 weeks or so.  So whatever you do, you cannot ignore the market.  If options are used, majority of the money will be made or lost in the next 3 weeks.  It may not be worth it to buy anything longer term.  That way if you lose your money, your loses will be limited to a month's premium.  I will become either a 100% cash holder or an option seller in this summer.

Good luck and have some fun while making money with stocks.