Wednesday, January 19, 2011 1:52:40 PM
LUV 60 minute chart - broke out of a measured bear move from the most recent 14+ top. The small corrective uptrend starting in mid Dec. looks over. Target on this measured move is 11.50. If 11.50 comes then it will have broken down from the head and shoulders (end of 9/2010 to present) which targets at the larger potential double top support at 10.40. If that double top breaks down, target, longer term, is likely 6.60.
This morning puts were a huge flip for 80+% (not sure who buys so out of the money two days in front of expiry - LOL).
This morning puts were a huge flip for 80+% (not sure who buys so out of the money two days in front of expiry - LOL).
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