Interesting, PSX does look like a good stock. Nice premiums in the options too. I wish their dividend was a little better, it is the only thing that would make me stay away.
The stagnation of INTC and MSFT has been awesome for my trading, I'm sticking with their weekly options. F has also been stagnant for the last couple weeks. Again great for my options strategy on its weeklys. I also love TGT of which I have a short 60 put expiring tomorrow, but I need to wait for the earnings catalyst to go by before replacing it with a different put. That is a stock I plan to trade probably up to 67.5 or even 70, but we'll see how this earnings shakes out.
I wish SWY had not taken off. It keeps rising. I was making about 3% premium a month on it, but I am not going to trade higher than 18. Perhaps the Feb. 21 earnings will be a negative for it again.
But you have to wonder why they closed it on 6.66. Tommorow's pivot was closing in on 6.66, but still, the MM's could have closed it off of 6.66. Was it a signal?
By the way the XLE did break out, but the volume could have been better. Inside the XLE, the heavies were Haliburton (HAL) ^6.1%, Schlumberger (SLB) ^3.7%, Transocean (RIG) ^3.9%, and Baker Hughs (BHI) ^2.45%. All of these broke out with volume. Waiting for a retracement / test on light volume to buy these.
The energy sector has been on fire which can signal the top of the market cycle.
One energy I'm thinking of donging tomorrow is Phillips 66, there's that 66 again. It has high volume support below and is just sitting under the creek (breakout line), it did not touch the creek today. Tomorrow it could wake up rested and refreshed.