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In the beginning there was thought
  • All Hail the "Head and Shoulders" 0 comments
    Apr 5, 2011 1:33 PM | about stocks: USG

    Today was a fantastic day in the market.  My Day trade paid off today.  I noticed a Head and Shoulders pattern of USG, with a possible downside below $15 but I wanted to make a little on the daily instead of holding through Apr 11.  So instead of going with the May 11 option which would see less movement I went with the

      USG Apr 11 $16 PUT @ 0.45. 

      Of course I was blessed with a movement in my anticipated direction to the turn of a cover at 0.55 for a net profit of ~15% to the portfolio.  I also wanted to mention that I could have held my WHR PUTs from yesterday and added another 10% but I am not very strong at calling the market on pivots so I will stick with what I am comfortable with; taking profits in the middle.

    Stocks: USG
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