Tech Master,
Saw your question just now on **YHOO** to Pat & his response. Up today on better than average volume on news as you know. The volatility of the market aside, typically, the momentum should continue for another day or so given the news release and volume and it should test 52. That would be the first place I'd consider a short/put position. The next resistance would then be at ~55, should it kick past 52. If it can't get through 55, then that would be a secondary place to consider your short/puts.
I do not follow this one, just reading the chart for you, and as you saw today, an unexpected PR can make a lot of difference. However, it does look rather overextended right now at the aforementioned levels.
YIKES! I hope you didn't short it Friday... <gggg> But, if so, what goes up, must come down...but hopefully before the options premium expires! <ggg>
Best of luck to you,
V. |
