QLGC.. obviously broke down from where I posted yesterday's chart and now its testing support at the rising 50 ma after FAILING MISERABLY at the rising 20 taking down the nasdaq (or maybe Nasdaq took down QLGC) The situation with QLGC is simply testing the declining 20 period ma on the 5-minute chart and so far failing. It would now have to take out 51 and move as much as 51.20 before I'd take any notice.
ADBE 35 puts up over 100% ($0.30 to $0.65) The ADBE 40 calls were $0.70 and still around $0.60. Might be a good idea to take some profits on the puts into the close and keep the calls either way don't let the profits erode on those puts. The strategy tomorrow will more than likely be a gap strategy: Either a gap 'n crap 'n recovery or a gap 'n snap... SO its important (LIKE MATK) not to judge ADBE or enter a trade until a REVERSAL is in place (by 10:00) and trade in the direction of the reversal.
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