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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Brian Sullivan who wrote (50435)	5/19/2013 6:03:13 AM
From: GROUND ZERO™	Respond to of 220836

Just as a suggestion here, you could always write calls on those long stock positions just in case this market still moves higher, unless you're pretty well convinced we're at a top... GZ

To: Brian Sullivan who wrote (50435)	5/19/2013 10:18:34 AM
From: Fintas	1 Recommendation Respond to of 220836

Well what you do is your decision. This is what I see which I'm sure you see. An extended stock. Sector is in the 50's and is in that area where it's deciding which way to go. I say that for it is NOT extended in it's RSP or RSX. Unlike MANY sectors that are. This could be a sector that after a bit more retracement turns HIGHER. So the question would be. A RSX chart pattern that says here and now 10% higher to turn it to a patten of x's. Based on a look at pattern and an existing RSI of 3.4 with an up to turn it's pattern at 3.74. Beyond that a touch of 3.99 says OFF to the races of another 40% up So that 10% could happen. OR To the down well 81-77-72. I'd game the 77 after a bounce at 81.. That opens up several thoughts re strategies. I don't give advice. And I don't know your cost basis. But JNJ overall looks good for a higher price over time. Given it's extended nature you can do lots with it. Or do nada. Fintas