I like how X held the earnings report "key hidden level" and the gap in the chart and has formed a double bottom here. The next 3 days have to see X hold above 23.20, so if that isn't the case, then exit.
Look for a slower, steadier rally towards 29-30 over the next couple of months.
And consider shorting GM against a long in X. (I'll publish a chart in that next).
Tim
3:35PM EST 24.24 last X
Comments
timwest
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Shorting GM is adding a lot to this trade too. And since X has held above the 23.20 for the last 3 days, we can raise the stop to 23.20 from 22.
timwest
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Right on target for X and the drop in GM can be banked here. Nice ratio trade so far. Now stay long the X outright. 4/7/2015 3:15PM EST
IvanLabrie
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Looks explosive...
A-shot
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Double thanx for the coverage, is indeed in my list as well.