Monday, May 14, 2012

$GOOG chart and setups for new entry

16may - textbook trigger for me to enter a new credit put spread per the setup below..im going to hold off for the only reason is that i dont knowenough about that upcoming stock split and when its happening.

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14may-first off, i would not hold options on GOOG into the upcoming stock split whenever that is.too confusing, now.. stock has been in a channel for few weeks now..top of channel matches up pretty close with the 50 day, bottom of channel with 200 day...setup are that if it breaks out of top of channel near 620ish then look at new credit put spreads at/below the 200day... other one is if it drops back a bit to test and hold the 200day, then look at new credit put spreads at/below the 565 support line that goes way back. no mans land for me till then.