Technically you are correct. At a minimum it could quickly drop back to 90.00 and quite possibly 87.50 range. I bought a small number of 92.50 weelky puts on Friday at the close. If the upward trend continues early next week, I will sell my Puts and take a loss expecting to re-establish a position sometime throughout the week. PE of 25 in JNJ's industry with their moderate growth prospects in the short to intermediate term looks way overbought. Keep in mind that the short-term money flows into JNJ look difficult to sustain. IMHO much better opportunity to the downside than the upside.
I have read some of your doom and gloom posts. Synopsis: Wacko a little knowledge is dangerous. No one except the MAKER himself can tell what the market or an individual stock is going to do on any given day. By the way are you shorting the stock? The market is a #$%$ shoot.