Friday, March 16, 2012

$MA chart and setup 16mar

pretty simple setup, pullback to test the low from last week near 410 i will be looking to add a few lots to the apr385/390 credit put spreads.. this level matches up with the support line at 390 and in few days the 50day moving average will be above that level as well. i use Trademonster, im sure your broker has a probability calculator as well. The 385/390 spread is at about 88%probability of max proft here and will probably still be above my 75% threshold near 410.