Daily Portfolio Update – EOD 2020-12-28
Current Long Options Swing Portfolio: $ACB, $DGLY, $FISV, $ON, $SIG, $SNAP, $SRNE
Unlike the weekly update yesterday, I won’t have any charts in this one. But, if you are curious, you can see each of these chart setups in my weekly portfolio update from yesterday (2020-12-27).
Today was a sideways day. A few up, a few down, and mostly irritating from that perspective. But, there are plenty of those days to be had.
ACB
$ACB spent the day hanging around its 38.2% extension, though without the conviction I would like.
If it doesn’t recover to the 38.2 (8.80) and falls to 8.41 (the 23.6% line), I may re-evaluate. Luckily, this is one of the longer plays I currently have, so I can afford some patience.
DGLY
$DGLY is still in its super squeeze. Now building up the numbers the whole way across the board.
Something has got to give. It feels like someone challenged this ticker to hold its breath and see how long it can hold it before passing out.
The question is, will it do something before time decay gets me? I’m thinking about repositioning myself on this one. It is only a matter of time, but the question is, how much time?
FISV
$FISV is still on thin ice in my portfolio. As previously mentioned, I was looking for at least some semblance of life in the positive direction. Though it didn’t move much higher today, it at least tested a key line above, and it held at a higher support than last Thursday below.
For me to hang on, it must hold the 50.0 retracement line at 12.64, and at least push against the 61.8% at 113.18 tomorrow. Time decay is working against me for something to happen. So, it either starts to work, or I let go and potentially revisit later.
ON
$ON was flat today, hanging around its most recent 78.6% retracement line after hitting hits 52 week high a couple weeks ago. It held its 30-hour SMA late this afternoon.
It appears to be regaining its energy to carry forth with its upward momentum.
SIG
$SIG started the day well and then it looked like some profit taking the last couple of hours. As long as it continues to hold the combination extension/retracement line around 27.55, I’m not worried with this one, and look for it to continue on upward.
SNAP
$SNAP came down out of its channel today, which I did not like. However, it held and recovered each time it neared its 200 hr. SMA. I still like this to continue up. But, if it falters at the 200 SMA and does not rebound back to the 161.8% retracement, I may need to look at cutting it loose.
This is close to my stop loss, so I’ll be watching the action on this one closely.
SRNE
Picked up $SRNE as a bit longer of a play. It came down from the longer term 38.2% retracement to the shorter-term 38.2% retracement today and rode that line. (Yes, this is one of the charts that looks a bit busy, but it works.)
One thing I’m watching is that the 13, 30, and 200 hour SMAs are getting closer to each other. If they do intersect, I’ll may have to re-evaluate for the short-term.
I still look for this to recover, but my stop loss is at the 7.12 mark.