MayOE Play-Book (more like DUP da-Boyz Book), for star-date 22-04-2008!?
We'll be using the Gap Down to Add Long positions! One reason is to get more net Neutral as we ended Monday controlling 48k Q shares Short and only 16k long (see OE Stuff update for details)! The second reason is the Pattern Violation at the Open as we should have GAP'd Up if prices were gonna head South-Bound But this Gap Down is more Bullish then Bearish!?
We'll be RE-Loading May50 puts Short at 3.30/3.50 (160), and maybe Buying May45 calls at 2.00/2.25 (320)?
OK BOYZ, you DUP-em, yes, DUP-em Real GOOD, da-Longs AND Shorts dat is, LOL!?
Date Open High Low Close
18-Apr 46.51 46.93 46.22 46.71
21-Apr 46.61 47.08 46.49 47.04
4cast
22-Apr 46.71 47.98 46.57 47.93
DCB - We got the DCB initiation when 43.66 did Hold and we now march higher with 51.85 as our Final Target? It’s NOT likely that we’ll get to said target this OE period so we’ll likely have to wait until the JunOE and with 51.22 the Primary target we’ll keep an eye on 44.70 for Solid Support during the MayOE period?
Good trades,
nm
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