Oh that fellow asked for it, and he's ALOT better off now than before I should probably give myself more of a time cushion, maybe monthlys are better plays than weeklys
This trade is more my style... they dont come around often, but when they do, good things happen Weekly chart: Preliminary Support... where large interests begin initiating their positions Selling Climax... forming a new support and stopping the down trend Automatic Rally... caused by aggressive buying and short covering Secondary Test... searching for supply Then further accumulation along the PS line indicated by the volume profile.... and volume falling off throughout the range (supply being absorbed) And finally the Spring... where the large interests remove their bid and price falls below support in order to shake out any looming supply (aka stop hunting) All thats missing is a SOS (sign of strength) Which looks like this (daily chart) Looking at some October calls... give myself a little more room this time around.... those weeklys nearly killed me!
Must be a low volume play, you can always put in a bid. I only play the liquid side, no volume= you might be stuck or have to sell at the bid.. just my opinion though...
