Bought SUPN at $5.65 as an investment, not a trade. In the past I have used collars to provide downside protection. Last collar expired last December. Collars should only be used in limited situation and timing them correctly is very important. It's only truly in hindsight that you can determine if the collar was a good decision. Last two collars worked out...
SUPN seems breaking down from a long upward channel. Money-flow is showing strong divergence. If it breaks down it has huge downward potential. However before we get into the position we like to see a confirmed breakdown.
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SUPN
LH/LL since peaking at 23.30. From the chart, I don't see any evidence indicating this pattern has changed. There is convergence on the RSI. For now, I expect this pattern to continue.
I have been long since 3/21/2013. My average share price is $5.65. Hindsight...it would have been wise to have sold 1/2 of my position when price was over $20 at 300%...
