Discussion in 'Stocks' started by mikeenday, Dec 15, 2011.
buy some Jan 35 puts.
Hmmmm. Here's what I see. Tell me where I am wrong.
The stock is clearly in a recent downtrend so some put action MIGHT be in order but it is at a level of support that has been tested a number of times over the last 6 months and has generally bounced back from it. In fact, as I type, it seems to be doing that again. Sure, it broke support a couple of times (on the 6 mo chart) too.
Help a newb out, if you are so inclined. What do you see that I don't?
nobody knows the future.
It's just a bet it will drop more. The chart is attractive to bet the price decline.
35 is chosen because it tested 37 area for 3 times. And it won't hold for 4th time, as a general rule.
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