More PDLI

Trade
Buy/write PDLI. Buy PDLI stock, sell the Mar 30 call (PDL Biopharma)
This adds to my existing position of unhedged PDLI stock. The option premium is sky high with earnings on Monday. I can not bring myself to buy the calls. Shoulda, woulda, coulda bought those calls earlier this week. It is always risky to buy in front of an earnings report, but the tape action is strong and the chart is a textbook base.

News about an foiled attack on a Saudi oil refinery has goosed oil, gold and silver higher. At the close, yesterday, there was a big volume spike in a lot of gold stocks on the sell side. This is unusual. The cliche is that "dumb" money moves at the open or at lunch time and it is often "smart" money that moves at or near the close.

JWN (Nordstrom) down to 38 on earnings report. This is the support area, but buying on bad news at support is a risky strategy. Buying at resistance on good news is preferred. The converse buying on bad news at support is mixed at best.