Monday, December 11, 2017 4:45:46 PM
At least it’s above all the moving averages. And above $35 there’s a lot of open sky. But when does it break solidly above $35? It could spend a lot of time around 25. That's when I like to sell Calls on stocks. If it's assigned away, I could buy it back on a dip and either ride it or sell more Calls on it when I think it's peaked and let the market decide to take it or leave it; or sell Puts on it and not complain if it's assigned back to me because I at least got paid to take it back.
High RSI? An upward trending stock can have a high RSI for a very long time. Those are the kinds of stocks that IBD ranks as a Buy. IBD likes momentum stocks. That's when it can be a big mistake to get out of a stock as it reverses from a high RSI. The pullback may not be very much before a strong stock reverses again to make a new high. Wash, rinse, repeat.
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