Market Curiosity: Exploring Markets And Systems

January 25, 2011

Sold LLL puts as price backtests triangle +41%

Filed under: +26 to +50%, Short Puts — Tags: , — Jeff Fitzmyers @ 7:00 pm

+ Price seems to have broken out of a 4 month triangle.
+ Pretty good breakout volume.
+ 170 EMA turning up and offing support.
+ Monthly CCI going up.
+/- Price did not back test very far, thus my caution about getting puts 5 points away.

Jan25: Covered for $0.28 (bought for $0.69) +41%. It’s very likely the puts will expire worthless, but I am reducing expose everywhere.

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