Portal player MMs are giving us a nice gift of an entry point at the bottom of today’s gap up.
Notice a similar candle on 10/31 that led to two more significant gaps up the following 2 days.
http://stockcharts.com/gallery/?play
Being able to buy now, $2.50 below the pre debaucle low of $25.92 makes this me 2nd Trade of the Day!
If you are really timid, buy the stock and sell the $22.50 options for $1.40, you make .40 right away and you are protected below the $22.75 200 ma.
Personally, I’m picking up the Nov 25s @ .35 which is aggressive but full of potential. I already own the $22.50’s so I have very little to lose.
$397.47 is Google’s next big barrier – I may sell my calls there and wait and see about the $400 puts.
The second VLO crosses negative, all oil shorts are on!!!
