Thursday, April 20, 2006 12:00:41 PM
the setup still looks very positive to me Serious. The setup i am speaking of remains that Cup & Handle. It is currently in the handle consolidation phase which USUALLY precedes a breakout. But just in case, i picked up a 2 day hedge using the April 400 puts. Sure it means i'll lose out a tiny bit on any move up, but if earnings are stellar, i'd imagine this could quickly close that gap near 430 and probably test it's all time high over the coming weeks....so paying for a bit of insurance is not a bad idea i think, even if it means it will be "wasted" money.
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