Tuesday, January 31, 2012

Trade Reviews - January 31st, 2012

5-minute BAC chart

5-minute GS chart

Before the market opened, BAC gapped up 8 cents from yesterday's close. BAC closed the gap at 11:10AM. At 9:55AM, Morgan Stanley was the first bank to close the gap. Keeping an eye on on MS and other financials would have been the clue that BAC would eventually fill its gap. The next trade in BAC was to buy the unch. Goldman Sachs would have been the clue to buy the unch and hold. At 11:05AM, GS broke above VWAP and and broke through R1, R2, and R3. BAC and GS both closed just above VWAP.


*Special thanks to Option Radar, BMO Capital, MEB Options, Bloomberg, Reuters, Optionistics, LiveVolPro, CBOE, AMEX, Option Monster, T.O.P. group, and all of the options desks and traders we work with to provide the option flow!

No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.

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