DavidStone
Long

JCOM: preparing for a breakout

NASDAQ:JCOM   J2 GLOBAL INC
70 1 0
This small float has been trading in a sideways range since an Aug breakout. According to shortsqueeze.com it has a 23.8% ratio, with 42.2 days needed to cover. Since the all time high is around 53, there is very little breathing room to cover those positions that were looking for a large selloff.

There seems to be solid support around 48.5, with Accum/Dist, RSI and short term MFI sloping upward. A bullish MACD crossover occurred on 10/2 on the daily period .

I am long from 49.80 on 9/30.
Closed 1/2 position 55 strike calls today, 0.25 from 0.09. This may squeeze higher, but if not will take the 38% profit (worst case of worthless expiry).
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