Wednesday, June 1, 2011

New Trade - MRK


Deuteronomy 28:12 "You will lend to many nations and not borrow."

I put on a second trade yesterday in addition to CBS, it was MRK. Here's the chart for MRK:
This trade is different from the CBS trade, I'm just looking for a quick move back up to the recent highs. In this pullback, yesterday we had a close above the high of the low day. Combine that with the overall markets yesterday and we've got an edge to the bullish side.

The target is $37.50 and the stop is $35.95. I bought 2 July 37 Calls for $0.54 each. Just looking for a relatively quick move up.

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