Friday, January 14, 2011

New Trade - MAS


Hebrews 11:6 "And without faith it is impossible to please God, because anyone who comes to him must believe that he exists and that he rewards those who earnestly seek him."


Here's the chart:


We've had 2 consecutive closes above resistance (actually we had 6 consecutive closes, however the trading account has been maxed out in trades and today I had room for a new trade). If you look closely at the second day's close above resistance, if I would have entered at that point, then today I would have already had some profit built into this trade. But, I still think there's some room to move up. Gotta pull up a longer dated chart for the target:


The target (i.e. next level of resistance above) is approx $15.25. I bought the April 13 Call for $1.80.

Another nuance I want to point out is this: look at today's close. Ever since this stock broke above resistance, the sellers have come in around $14.07 (the recent high) and drove down the prices to $13.79 and lower. But, today the closing price was $14.00 putting the bulls right into this little zone and further overpowering the bears. I wouldn't be surprised to see some major moving up next week. However, nobody (but God himself) knows where the price is actually going to go.

So now, we simply wait and see what happens.

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