EPD is back in buy territory. We crossed above the 21 day SMA today with a gap up. We may still see a Bullish Upside Gap Three Method, which is fine and healthy. I would look at tomorrow to see if this happens. If not this is a buy at 3pm.
If we do see a BUGTM tomorrow, just wait one more day to see if we recover above the 21 day SMA.
All of the SMAs are in line, Resistance was at $54.45. MACD is above 0, and about to cross the signal line. RSI is above 50.
Right now I'd just put this on your watch list if you don't have a position, and look for those confirmations. If you have a position in the stock hopefully you can sleep a little better now.
I sold out all EPD options this morning when the stock hit $55. 20% profit in two weeks.
During last four quarters, average high was 1-2 days before EX and equaled $0.83 increase during the last seven days before EX. However, last quarter lost $0.70 during the last seven days. There has been a gain during the last seven days in 75% of the last 18 quarters. My projected high for this quarter is 55.40, but I'm happy with 20% in two weeks.
I'm hoping for the best too my friend on EPD. Last week's EPD stock action was ugly. I hope that we hit $55 by Friday and I will gladly exit all of my EPD positions. Right now I'm holding 2,325 EPD November12 $52.50 Calls. Good luck to all of us : )
Sentiment: Strong Buy
Xion: You may not have to wait until Friday for EPD to hit $55, it's already touched it earlier today (Weds) and as I type it#$%$ $55.00 again :)
Add me to the list of those who have been planning (for a while) to essentially get out of the market by end of October and sit out potential post-election sell-offs. My ITM AAPL call spreads & OTM AAPL naked puts expire Friday. I will exit my EPD Calls later next week.
Based on Nov election results I may sell and immediately re-acquire a very profitable long-term holding, taking the hit now on the gains while taxes are lower, and then re-buying the position in a tax-advantaged account to protect future gains.
Good luck everyone! Let's hope the overall market stays positive (or even neutral) and gives EPD fertile grounds to grow its PPS further as ex-div approaches :)