I honestly wish you luck on your trade. It's just the stock is falling and has been falling on VERY HEAVY VOLUME. Your trade may work out depending on your time horizon, but to me this looks like a stock that will make it down to 46 dollars before it has a chance to make it back to 65. Just my opinion.
It doesn't look like a nice rally to me. It's a whole lot closer to the low of the day than the high.
But it's a whole lot higher than it was 10 minutes ago.....I don't really care since I don't have position in it...just been watching since I read the thread
One problem I have had when chatting to folks on this site is everyone is a trader...That is a great thing, don't get me wrong...I love the liquidity at the top of a move...I feel like I'm the only investor here....My time frame is "When I'm up nice"....5% to 50% to the moon....I just buy when nobody else wants to buy and continue buy as it drops lower in most cases....Most of my positions all start like this...Call the bottom and keep calling it until it turns....Add little by little is my key...Increasing the size slightly as it falls.... So I will exit when I exit....No time frame....Cash is no problem at all currently... $COSTAverageMAN
I don't see how you can call a bottom when a stock is falling like this, but if it works for you more power to ya!!!
If I apply Jesse Livermore's method (Livermore Market Key) to Humana stock price then I conclude the stock price is (as of Friday November 10, 2006) in an upward trend.
wait til atleast wed of this week....seems like there are more shares being slowly dumped on the market......remember oversold can become even more oversold....see yahoo at 22.70...dell at 18.75...or close to it..........intc 16....and change....msft 22.....and change.....so humana could still be in for some pain.....if doom and gloom sets in with the broader indexes....but given long enough time horizen....your trade will work......but at what opportunity cost?