Discussion in 'Stocks' started by mikeenday, Dec 15, 2011.

  1. mikeenday

    mikeenday Guest

    buy some Jan 35 puts.

  2. 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?
  3. mikeenday

    mikeenday Guest

    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.

  4. Thanks Mike.