Market Curiosity: Exploring Markets And Systems

May 26, 2011

Probably buy PAL calls — lowest RSI since 2001 (update 2, June 4) +0%

Filed under: -0 to -4%, Long Calls — Tags: , — Jeff Fitzmyers @ 10:14 pm

Looking at JULY 4 calls for around 0.20. (Might even sell June 4 puts?)

+ Short ratio is about 2 to 3 days.
+ A bunch of NR7 bars and little doji’s.
– Monthly CCI is still headed down but it might lag. Just looking for a good bounce here.

May 27: bought for 0.25. Trade looks good so far.

June 4: Sold the calls for 0.25 on Thursday +0%. I was more expecting a slower rise up to the yellow 34 EMA. When price gaped open and sold off Wednesday to close the recent gap and kept going, I gave it a half hour on Thursday to head back up and it didn’t.

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