Hey Kev,
I was looking over MRVC tonight, and it really looks like it is getting very toppy short term. I want to see if it can blow through resistance at 25 1/4, and then past the 26 1/8 levels first though before I short it. yuk yuk. If we get a bullish day tomorrow it is certainly possible that it could move higher as many of the indicators are still longer term bullish, and it had a strong close on Friday on decent volume so a follow through would be expected. Momentum and OBV are very good, candlestick is excellent, MACD at 12 is attempting to recross the 26 line again as it is trending upward...stochastics would probably indicate one more day of upward movement, too. Probably a higher high tomorrow, but I want to see where it closes. Shorter term though, I think it will sell off a bit here after it pushes that 25+ to 26+ range tomorrow and I'd look to enter at the ~21 1/2 to 22 5/8 levels at that point.
I sold some puts on it at the 21+ level just before I pestered Jeff at Disney on Tuesday and that appears to have been a great move. (Selling the puts was also a pretty decent play. tee hee) I will probably do it again once it sells down a bit, I just love to sell naked puts. It is such a great way to go long the stock! Hmmm, Jeff said I "disrobed" in front of him (true) and I love to sell naked puts? Wonder what Patrick would say about that? (Be nice, Pat!) Remember what I said about those babes at Typhoon Lagoon? ACK!! ;)
So...What's your take on all of this, Kev? If this one doesn't sell down anytime soon, it is definitely poised for take off. I just think that unless the market really runs this week, it will pull back before it resurges on the next cycle. Need your expert advice. ;) Thanks big guy.
V. |
