Will prob. test the pivot point 12.62 (Daily RSI = 77) Over-bought, If broken then the next level is 12.45.
Bought 1000 of Feb $12 Puts @ 0.24
Looking for a 50%-100% gains this week.
Not to mention that VIX is below 14 and most likely will only spike higher making the puts more expensive.
I have to laugh...Genious, if you have'nt noticed it's been over sold for 3 years! Good luck with your puts. The company is turning around and if I were you I would cover. Just a friendly bit of advise. All the lies and rumors on this board are going to be proven fruitless!
First, try using a spelling checker
Second, "if you have'nt noticed it's been over sold for 3 years" Do you even know how to look at this metric?
Third, I'm long the PUT and not Short... Cover doesn't apply!
I'm not saying MGM can't go up... I'm betting on it going down 4%-7% in the next few days before it can decisively break $13. Get it?
No..I do not believe MGM will be that high tomorrow. That is my belief. That is what is great about trading. I have learned that stocks go up and down . Not only do I make money re loading when a stock pulls back, I also see that a person can increase thier windfalls when a stock goes down
I have never understood why folks get so darn defensive when a person trades a stock from both sides. I have not nor will I ever bash a person or a stock. I have been on this board for a few years. I have never been disrespectful to anyone here. I personally do not care if someone plays both sides of the fence. Afterall, it does increase ones finances.
Noone saidMGM will not make new highs. On the way to those new highs there will be pullbacks. Capatalizing on them is not a crime. It is smart trading.
Picker was not disrespectful to you or anyone here.
I am surprised you do not remember me.
GLTU and happy trading.
Look at the chart 13.05-13.07 was support 3 times last year. Which makes it resistance now and very unlikely to be broken on the first try (Today), not to mention the stock is over bought with a daily RSI = 79
Stock is most likely to retrace back to 12.5 and even 12 in the next few days before it can move up again. Plus, the earnings picture could be dismal and the broader market might pull back.
Last but not the least, VIX below 14 is showing extreme complacency!