John, as I mentioned last night, the fact that we closed under $84 was quite bearish short term. I expect us to test at least the $78/79 area, and if that id breached, do to the low $70 high $60 (around $69 or so) short term. As for options, I have not looked at them and know not the point of "maximum pain", you should look at the balance of puts and calls and calculate the point of "most losers" in the options to try and assess a possible range for tomorrow. It works more than 50% of the time, I am told.
Zeev
PS, I forgot to mention this in my prior post, being overwhelmed by the kind posts re the Magazine article (Thanks to everyone for the nice comments...), but I sold my position (again at a small loss, twice in so many weeks, got to fire those turnips), this morning at $84 in cocordance with the opinion I opined last night. |
