Market Curiosity: Exploring Markets And Systems

May 26, 2011

Sold June 35 PCH puts for 0.85 — expecting a bounce. (update 1, June 1) +17%

Filed under: +06 to +25%, Short Puts — Tags: , , — Jeff Fitzmyers @ 1:45 pm

Will cover on any decent bounce.

+ 3 stabs toward 35 with no follow through.
+ Long legged candles.
+ At long term EMA support and daily Bollinger Band support.
– EMA’s are heading down.
+ Weekly and daily CCI’s oversold.
+ Daily CCI crossed upward over weekly CCI.
– Monthly CCI heading down.
– Fair amount of selling volume, but trending down.

June 1: Wish I covered on the large gap up but was not at the computer near the open yesterday. Price “should’t” have gone this much lower so time to get out. +17% — even though the trade happened about 30 cents lower. Will wait for the daily CCI to dip below -100.

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