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Exxon Drops Big On A Late Monday Morning

Is now a time for a reversal? When Exxon drops like this on a Monday morning it has the weight of the world's problems on it's shoulders. If it dropped double this amount you would know something is actually wrong. Here is it's five and one day charts. So anyone could recognize this. Why pick this time to look for a reversal? What happened to the support level at $118.00? Does the $118.00 level look like a stretch to far away? Now this. We are hoping for a pause in the downward action and hopefully a slight rebound. A rebound to $118.00 would work wonders. Here is it's 11:39 a.m. readout. A further deterioration downwards would be ugly but these Calls don't expire until Friday. The low volume of trading tells us that experienced option traders are not looking for any sort of a quick rebound. Let's see how this plays itself out. Now this, a 2:00 p.m. readout. Now a 4:00 p.m. readout. It took until noon to shake off the weekend sentiment but after that a rebou...
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Recognizing An Oversold Situation On A Monday Morning. Moderna

Moderna. Let's start with a doggy stock that has a large short position.
Now it's opening chart showing five days of trading. It's down. .
Here is some news the market is digesting.
Isn't this just more news of the same? Now a look at the 28.5 series of Calls at 10:25 a.m..
Now at look at the action at 11:00 a.m. The stock is up 20 cents.
It's not enough of a move to get out however the stock is moving in the right direction.
Now at 12:11 p.m. there isn't to much new to report.
.....
Now this.
Now at 12:50 p.m.
I would be thinking of watching it trade minute by minute. Now this.
It can't get much better than this. I would just get out. The morning fear factor that was attractive on the opening is now long gone. The reasons to now be holding this position have changed. It's called Monday morning daytrading. Selling into strenght can be a remorseful experience but one that most usually is quickly forgotten. I will check back in on this position at the end of the day. First, here is how the markets closed.
Now this.
Not a big gain but not a bad gain if you bought let's say ten contracts this morning. Now on to something else.

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