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Not exactly.

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JLS   Thursday, 11/09/17 03:27:34 PM
Re: JohnCM post# 3858
Post # of 4371 
Not exactly.

VRX is my second largest holding. MU is my largest.

The horizontal lines on the right side of the chart below represent the true statistical Closing price distribution of VRX over the last 13 months. The price regions around the spikes should be considered as Sup/Res regions. You should note that VRX is currently trading (with high volume) above an SR region centered at about $15.40 (on a sucky day).

It appears that price is headed toward the next highest SR level around $17. I like to bring in extra income by selling Covered Calls (CCs), so I’ll be looking to see how VRX behaves as it approaches its next resistance level then decide If I should sell those overhead Calls.

FWIW, I never use stop-loss orders -- it’s too easy to get stopped out of a perfectly good position. IMO it’s better to sell CCs when one feels like putting in stop-loss orders and let the market decide whether or not to take the shares. At least you get paid to be taken out. And if you don’t want to be taken out, you can always roll the Calls out and up at relatively low cost.




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