certainly did break it...but can it hold? I still would not look for it to go much higher. 425 area may be the top of this run. I entered into a Call Credit spread today (s 460 / b 470) looking for this to pull back. Last two runs it made in the past 6 months, stopped out at the 425- 430 area. The second run peaked lower than the previous one, thus the 415 prediction I made.
goodluck on ur spread... my take.. expecting it to break 425 and even 440 long term as part of the pennant breakout.. might have a slight pullback midway but lets see..
What a bogus rally if there ever was one... CNBC partying like it's 1999, Cramer pumping everything in sight, etc. DOW to make new all time highs, just keeping buying more stocks.... Well, YHOO just warned. Talk about instant bagholders.
415-420 on the chart was the point that I thought it would pull back and it did. BTC the 460c that I sold yesterday. Taking money off the table for now, and see if it will rally back up in the next couple days on a bounce.
Nielsen reports ad spending declined in past two weeks-Bloomberg Nielsen reports that advertisers reduced the amount spent on graphical image ads in the U.S. by 6.3% to $163.6M in week ending September 10, after a 2.7% drop the previous week
well looks like it wasnt a breakout after all.. and still part of the narrowing range .. 365-415..now downslope.
I will be waiting in the wings for it to get close to those range limits again, and place another spread. I like the 360-350 put spread and the 460-470 call spreads, but the underlying has to move some more in one direction or another before I determine which side to play.
I initiated a ratio spread today. BTO 1 Oct 430 call 6.30 STO 2 Oct 450 calls 2.55 According to yahoo earnings are Oct 19. Options expire Oct 20.