I am glad you are able to do something with it. I will watch the opening print and first action then decide if i can tolerate such a trade. You're going to sell a call then buy one at a higher strike? What in god's name for? It's your plan stan, i mean sam. It could really break down here i can see your point. It could also form an island. But, like i said, if the CEO hunt is no more and they get someone worthwhile, then i'd want to have used pencil when writing it on a short list. Simple really, not to sound arrogant.
MMM After some additional analysis the WEEKLY is showing some support at this level. http://charts.dacharts.com/2005-06-30/Samfox54.png So really the only trade for me is the options spread if any. Good luck with it either way Cleusea
The daily range for PFE using candles appears to be 'daytradeably' wider than the present opening range of +/-1 tick.
Nobody listens. I have stated that i was in the early stage of sizing up a trade on MMM. My objective was to buy a price reversal. We had a range(2004 till present) break to the downside with decent VOLUME--my kind of trade. We had a wave of downside volume most recently starting on 3/20. If there is no gap up above this pivot (73.55) tomorrow morning or in the next 3 days we may see a rush to sell. We had a price extreme and a sizable event. Now there is a short term base on which to bid off. To me, it looks as if it is a perfect short if we do not have above mentioned price action. I'm flexible. If i'm wrong, i like to know it right away so that i can close the position w/o hesitation. I'm interested to hear about an options spread setup. Please PM me. EDIT: i am intra-day trading XLE. If you looked over the components this weekend there was a great probability of upward price action.
Cluesua Sorry if I read it wrong, I have been pre occupied with moving. Good luck with the trade either way.