BBRY is showing the early signs of a potential long. If price manages to rise here then one may try a long. The strength is that sellers didn't chase the price down to around 7. We have had a SL break and a RET taking place. Whether this turns into a buying opportunity is yet to be seen. The weak point is that price tried to go above 8 but couldn't stay there. It is a danger point as going below 7 could turn ugly. We might even get to 5.5 where the buyers had come in and chased the sellers up. Q's are at a dangerous position. Had the market been going down and then pick up steam to the upside this would have been easier. With the market pushing higher while the stock lingers, isn't something to write home about. Although you never know, Q's just might start blasting upwards as well. Earnings are also due at the end of the month and I am not comfortable holding through the earnings announcement. All in all there is a chance to try some, maybe with some calls if price gives a liftoff and hope for the best. BBRY Weekly: Weekly on the right side looks like it might prefer to head down rather than up. The up moves have so far been quickly thwarted. Closer to 5.5 perhaps would have been better to enter but we are not there, are we? BBry Daily: It's not too bad but I prefer when price tries to go down and fails than it just becomes a bit stale. Liquidity on the options is so so. For the paltry sum I am talking about it doesn't matter much anyways! Gringo
July 19 calls, in the money. I basically looked for the most liquid as the spreads weren't user friendly. So far it seems the demand is steady and price isn't giving up the rise. Gringo
There's a fable about a monkey who sticks his hand in a jar to get beans and gets his hand stuck. He wouldn't unclench his fist to get his hand released. He wouldn't even let go of a few beans to make his fist smaller. Now here I am. I am that monkey. I have stuck my hand in the jar. But I have found another way around. My way is to ram that jar on the ground, and break it into pieces, and take everything it has to offer. Forget about one fist at a time. It's time to conquer the universe. Of course the other side of the story is that the jar may be made of metal, it may cut the hand in case it's of glass or something. That's why it's called the do or die way, as apposed to the zen way! Gringo
BBRY has been moving up slowly. It has picked up some steam lately. The options are showing over a 50% profit for me so far. I have exited the position as the earnings are only 7 business days away and I don't want to be caught with these calls in my hand. Whether the earnings propel the stock up or down isn't my concern. After the earnings I'll look at stocks again. The price action is still constructive in my opinion but close to earnings I have fear issues due to past blowups. So while I leave coins at the table the creeping up of fear isn't something I can neglect. Gringo