Monday, November 24, 2008

Extremely over bought

I layered out of my call position between 82.5 and 83.5. I accumulated a put position between 83.5 and 86.4. Target #1 is the open gap left at 80. Target #2 is 74-75. Target #3 is a break down to 70 or below.

A move past 87.6 will force me to start layering out of the position.

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