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  • gere33982 gere33982 Apr 25, 2011 5:57 PM Flag

    This, ladies and gentleman, is the top.

    I think this is very likely. I am not short per se, but have sold option spreads at prices higher than today's price to take advantage of the volatility and hope to see a very nice return.

    Today the stock seems to be taking a breather, however this was a day in which the market in general went nowhere. There was some upwards movement at the open, which I took to be an indication of momentum orders that had stacked up over the long weekend, but once they were gone then it was mostly uphill sledding.

    The 15-minute chart for the day confirms this will a huge white candle for the first 15 minutes with positive money flow, but the money flow for the day as a whole was negative, probably with some money being taken off the table after recent gains.

    I would not be surprised to see the stock inching downwards tomorrow, and don't expect to see any surge upwards at the open. I think if it doesn't go up at the open, then it finishes lower.

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