I normally don't post on mondays but I feel bad having not spoken more about TIE in this weekend's post. As I suggested it might, TIE broke support today (following it's failed breakout) on strong volume and closed very poorly. I think this is easy money which is hard to come by on an options expiration week. Fortunatly, I already had Sept 25 puts from last week which I quickly took profits on when TIE found support at 25. However, it had broken its 200 dma for the first time in years so i watched it closely all day until it re-tested and broke 25. When this occured I did not hesitate to buy back my puts higher and I may even jump into 22.50's tomorrow depending on how it opens. This sets up TIE for a move to at least 20 most likely much lower. If you think the short juice has been squeezed out of TIE already just take a look at this logrithmic 2 year chart. I don't think so!
Ps. For those who know what I am talking about when I refer to TIE as if it were a space vehicle, tomorrow the original trilogy FINALLY comes out on dvd. Yes, the Solo shoots first, CG free, proper ewok finale version is set to be released tomorrow. You can guess
where some of my TIE profits will be going!
I normally don't post on mondays but I feel bad having not spoken more about TIE in this weekend's post. As I suggested it might, TIE broke support today (following it's failed breakout) on strong volume and closed very poorly. I think this is easy money which is hard to come by on an options expiration week. Fortunatly, I already had Sept 25 puts from last week which I quickly took profits on when TIE found support at 25. However, it had broken its 200 dma for the first time in years so i watched it closely all day until it re-tested and broke 25. When this occured I did not hesitate to buy back my puts higher and I may even jump into 22.50's tomorrow depending on how it opens. This sets up TIE for a move to at least 20 most likely much lower. If you think the short juice has been squeezed out of TIE already just take a look at this logrithmic 2 year chart. I don't think so!
Ps. For those who know what I am talking about when I refer to TIE as if it were a space vehicle, tomorrow the original trilogy FINALLY comes out on dvd. Yes, the Solo shoots first, CG free, proper ewok finale version is set to be released tomorrow. You can guess where some of my TIE profits will be going!
No comments:
Post a Comment