Monday, March 26, 2012

3/28/2012 revised $CAT chart and setup

3/28/2012 - didnt get the break thru 50day i was hoping for on last setup.. would now avoid new credit put spreads because seems to be losing the near term support right here. it could reverse tomorrow..but who the f_ck knows.. i will wait for continued selloff down to the 200 day near 97 before entering.. at that point will price out credit put spreads at/below the 88 support level. double check earnings before entry though. set alert

follow me on twitter @mark_lexus by clicking at right to get more free charts/setups and trades

3/26/2012 need to double check earnings date but it has formed weak near term double bottom. now will be watching for a break thru 50day near 111, will then look at credit put spreads at / below that double bottom low near 104ish. set your alert