Yes, I went long FAZ at $19.7999 before the close on Friday as documented on my blogs at iBC and greenfaucet. Make note of support levels since some of them will get sliced though immediately at the open. It's time to make some spending money for my Cancun trip.
As of 4AM EST (may change up until the open):
7 comments:
John,
Can you interpret the term "inverse head-and-shoulders formation." What does this possibly mean in the short term. I am referencing VZ if you would want to look at the chart I am asking about.
oh yea, VZ is a good example.
The inverse H&S is a reliable bullish reversal pattern. First, a higher low is achieved on the daily charts, followed by a healthy pullback, a breakout from the pullback above the neckline confirms the inverse H&S. The "neckline" is the resistance level connecting the tops of the two shoulders.
John,
So being in put options and needing the stock to get around $28-$28.50 to make money or break even on my trade is not a good thing. The stock can not break the mid $29's on the downside.
John,
I have the July $30 puts. I still have till the april expirations before time decay starts to come into affect. I am stuck in a trade that was not intended to be a two week stand still.
John, would you please post the web address for your blogs at iBC?
Thanks,
We'll, you have to consider the fact that VZ is stuck in between two powerful moving averages. That's the reason why it's been zigzagging the past few days.
Jack - you can click on my Chart Addict button on the top left.
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