Baz,
I figured that the SOX will go up during the summer months, starting around Jun, Jul, and will die down around Jan. Look at the 3 year chart for GLM, and you will notice the pattern. I really want to sell the Jul 30, but it is not priced yet (neither is the Oct 30), but with this rumor, I believe it is not worth it to sell the call. Currently the chart shows William's%R in oversold, but Stochastics and RSI are still in the 50's, so it is highly probable that the stock will continue to move up, probably to the resistance at 26. BTW, the next resistance is at 29.5 established in Jul and Dec last year. |
