Wednesday, March 21, 2012

$CAT chart and setup 21mar

update on bottom

21mar - have not been in this name in a while. on my secondary watchlist. losing the 50day today. will be watching for for continued pullback to low from 2weeks ago, then will price out credit put spreads targeting at/below the 200day. If going short today, use a stop right above the 50day.

22mar - getting real close to entry target. probably no entry though..the 90/95 credit spread is only paying upper 30cent range..really would like .50 or higher to enter. will keep watching.. the 95/100 although decent premium and ok probabilities doesnt line up with any type of support on chart.