charts/tape reading

The market doesn't care what I or anyone else says.
The market is the final authority of profits or losses.
That's why it's smart to listen closely to what the market has to say.

One way to look at is ignore noise (news) and focus on charts as the resistance/support/hammer/volume is how the market is saying what it wants to say.

Monday, February 13, 2012

update on the recent [1%] option trade

Looking good after a week. FAST is nearing $50 and look at the graph tells me that this still has legs and is in a nice uptrend! So option price today has also spiked and it's currently @10.2; that's a 17% return in 1 week. So will keep holding the following option...
x FAST May 40 call for 8.7 [3/5/2012 will be the deadline; currently @10.2; +17% in a week]
Posted by at 8:53 AM

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