Wednesday, February 06, 2008

We have confirmation !!!

We have a reversal confirmation with a black candle yesterday. How to play? I would short if the market/stock goes below yesterday's low. The stop loss is Friday's high (or last week's high - whichever is higher) and the first target is January Low. I have to be careful though. In the current volatile market, crazy swings should be expected.

As for me, I have already started by playing the following yesterday:
  • COF - Bear Call Spreads Feb 50/55 Call @$2.20 (when COF is about $51.65)

- PersianCat (Millionaire-in-progress)

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