S2 Option Trader

[plashadpobedy]

Double-top configuration not a reliable signal in this market.

I would not attempt a short in this market, even though your are going out to July (normally, a trough month). Disney could still go higher.

Another similar example, is MRO. Notice the small (2nd) shooting-star doji around Feb 7th (@ $46). They've now jacked it out of the flat from $46 to $49+.

http://stockcharts.com/h-sc/ui?s=MRO&p=D&b=5&g=0&id=p51033530601

Per MRO's move (in January) from $36 to $40.50+ was supposedly explained that the company is going to be split between refining and crude production, and that the crude part is worth more than the lagging refining side?
Frankly, I think, it's just the ubiquitous squeeze in oil stocks. Whomever stepped on it with 4-white soldiers in early January is still jacking it. This week is it's 3rd round as it is stepped-up.

There's no way to tell when this market will correct. The normal dynamics are gone. This squeeze could continue till June?

The big boys know that Feb is always a trough month (per the January-effect). That's why (in part) it's not this year.