Tuesday, May 19, 2009
Its right back to the same price it was when i called it, on Thurs entry.
(timing is everything, and if you trade mostly options like me....theta kills)
If it breaks OVER 54.40, I will be looking to stop out at that price, and keep my losses small.
Double top here w/ neg divergence. (even tho the same price as thurs, it looks technically even better short today, so) I still like the play ALOT, just respecting the technicals here. (double top made, and if there is possible "support" at 50)
I'm looking to take half off at 50.50, and trail the rest. If it drops to 50, finds support and can NOT break below 50, I will be exiting all there w/ small profits.
If it breaks below 50, I see it going to 44.....
Stops are a must
Plan your trades, trade your plans
Posted by Erik at 8:34 PM