Discussion in 'Stocks' started by Boy Plunger, Sep 8, 2005.
LYO trading at year resistance with increased volume.
Enjoy. Good trading.
best is defined as, least amount of time in position for greatest amount of dollar and percentage profit without maximum share and dollar exposure. i trade both, infrequently, thanks to an ET member.
STJ and LYO ; today LYO gave up the steam no pun intended.
A crater at $27-$27.5 perhaps.
Time to cover majority of shares short. imo
Ideally, if we can get LYO to trade under $26.72 then a quick momentum trade will develop to the short side to around $25.50. Right now a trap is being set to exit shorts with trapping longs. Depending on the turn-out LYO will trade as discussed above but if the chase gets good it can easily pull up to $28.50. Either way i have taken out over 2 points in the stock this week so i am not too concerned about it now and am NOT putting on a full line to either side just yet. The short trade(s) were specifically aimed at selling what i believe was the trading premium created at key resistance. Now that the stock has backed off in price and technical readings am reluctant to trade it as there is no incentive for me--prices are nearing equilibrium. But, needless to say, a trade can develop anytime.
I thought this stock moved points in a day or smth, but LYO is thick and chops like crap.
Did you short heavy size?
What possible good can come out of you knowing if i put on size in LYO ?
the conditions in LYO are only ripe on certain occasions, at least for how i trade it--> daytrades and multiday legs.
when the stock is approaching range resistance showing heavy option open interest you can do magic. otherwise, it's best left to run it's course. sorry for the generalizations but if you watch and trade it i'm sure you would agree to some extent. tomorrow, i may do some counter activity trades to see reactions and then decide where to be and when. rules of engagement, learn them, know them. if you feel the need to trade it let me know how you fare when you have a minute. i'm interested in hearing everyones input. thanks.
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