Market Curiosity: Exploring Markets And Systems

January 30, 2011

Long REE? – looks like the correction is over +19%

Filed under: +06 to +25%, Long Calls — Tags: — Jeff Fitzmyers @ 9:38 am

Buy stop around 13.63.
Stop loss around 12.50.

+ Closed the gap on December 28.
+ Closed over 34 EMA on okay volume, then back tested 34 EMA on light volume.
+ Price, so far, has not corrected to AB=CD (~11.50) which implies strength.
+ Daily CCI looks to cross above weekly CCI.

Feb 2: Didn’t buy stock, bought April 12.5 calls for $1.85 when price rose above yesterday’s high.

Off to a good start.
+ Okay volume. Expect more volume tomorrow.
+ Daily CCI crossed above weekly CCI.
+ Float is only 33 million shares. 6 million traded today.
+ Stop loss is a close below todays low.

Feb 10: Sold for 2.20 +19%. Sold because even though price would probably bounce off the 34 ema (price was much lower at decision time), the CCI’s could easily roll over. I would prefer to take profits too soon right now. It was a mistake not to take partial profit.

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