Romik, I would consider holding this one until that upper band starts leveling out. Looks like a solid trade for ya. Gary
Sorry for the delay in posting this. Exit CAL @ $26.00 There was an opportunity to take profits @ $23 as Gary has done on his options, I was going for $22. I will watch this stock in the near future. PnL: +6.67%
Up to date PnL: LU -6.8% SI +7.34% AMGN +6.79% (+8.84% no scaling out) AAPL +12.18% (+22.21% no scaling out) CPB +2.65% AIT +1.42% EBAY +12.39% CAL +6.67%
PT1 hit EDIT: obviously this has been rolled to Dec 06 contract, PnL will be adjusted according to prices of morning session of 7th Sep 06.
I think the fate of this trade is going to be decided very shortly. At the moment the price approaches 52 week high of $33.59, but there is a cute BRD on the weekly chart, which is still valid. So the plan would be to close the trade @ initial stop level and re-enter the short when shorter TFs start showing signs of weakening upside. Hopefully it's not going to gap down or up for that matter.
Romik, Have you been watching the run up on CAL this week. You know I still have 120 calls on this one if it gets up to 31 or higher I will be able to sell them and get a little more money off of that trade. They expire today either worthless or maybe for a little money. They are Sep 40 calls which are worthless right now. I think at 31 they will bid .10 for them and I can get 1,200 for them. Wish me luck I might need it.