Bull Pennant Formation. I've been doing covered calls, on the pullback today I bought them back, I'm looking to re-establish them possibly by Friday this week. I'm just sitting on shares at this point. I think we're going to break out of the pennant formation and step up above the level we've been bound in which was about 53-65 range. Looking for a break out above $65, possibly even this week
I disagree. I think the top is already in. I placed my first short today since I shorted GE many years ago at 59.50. It's a small bet, but I do hope this goes higher so I can double down. I've never seen something as close to a sure thing as this stock hitting 20 in the next year. Can it go higher? Sure, you are correct on the TA. But is TA even applicable here?
rebonele
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@jvGator no history of you. Only spreading FUD. Definitely paid by Hedgies...
jvGator
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@boldik13, Huh? I shorted again at 60.50 this morning. I want to make money not advocate for political causes or religions like you.
Chris73512
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@jvGator, LOL so good for you, im Happy to get your Money. :D im up to 473%+ and dont Sell :D
jvGator
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@Chris73512, We can both make money. :) If it were me, and I was long with a gain like that, I'd be out. Set a stop loss at least, there is a gap at 35-37 that will get filled eventually.
Rikity
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@Chris73512, You could buy some cheap puts to hedge against a large pullback too. I have a put for each 100 shares $20 below that expire friday and I just roll them out a week, reduces buying power and limits loss if we get a big selloff
blazepowder101
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@jvGator, blah blah blah nobody cares dude short it then buy puts nobody gives a fxck