.........so much for scenario painting. <G>.
Something is definitely happening at OO, the question is, will it last.
I normally would have sold my options yesterday, but I was away from
the market for a few hours and missed the drop to 10 7/8. I actually made a pretty good recovery.
I have to stress, although it looks like the picture is changing, I have not gotten a signal that an uptrend is here yet. I may very well, but right now, it still needs to break 12.38 to turn my inidcators up (longer term). If you notice, the high yesterday was one tick below 12.38. That has been strong resistence.
If you are going longer term on OO now, you still are betting on the the come. It could break 12.38 on Mon, who know, but why not wait for it to tell you, instead of taking a chance that it will go back to 9.00.
You only risk losing maybe a point, and if it does start a trend, it has a potential to re-test its old high.
BCL |
