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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: plugger301 who wrote (13184)	3/1/2002 9:20:06 AM
From: herry iball	Respond to of 26752

HON coming up to a big resistance point at around 39....stock is overbought already, but has moved last two days on strong volume. May have the gusto to get to resistance, but doubtful it can break through unless the Dow starts running past 10300...I'm buying puts into this run since it needs a technical pullback if nothing else. Way ahead of the 10dma and closed above upper BBand. Look at the daily RSI....historically whenever it gets to this area (or a little higher) the stock pulls back...even it it just pulls back to the 10dma, it's still around 3 bucks to the downside.